What was the accumulated deficit for Golden Krust Caribbean Restaurant as of December 31, 2021?
Golden_Krust_Caribbean_Restaurant Franchise · 2024 FDDAnswer from 2024 FDD Document
41,393 $ | (664,096) | accuracy of this information. Any action you take upon the information you find on this website (FranChimp.com), is strictly at your own risk. We will not be liable for any losses and/or damages in connection with the use of our website.
GOLDEN KRUST FRANCHISING, INC. CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' DEFICIT YEARS ENDED DECEMBER 31, 2022 AND 2021
| | | Accumulated Other | | |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 35)
What This Means (2024 FDD)
According to the 2024 Franchise Disclosure Document, Golden Krust Caribbean Restaurant's consolidated statement of changes in shareholders' deficit shows the deficit accumulated through December 31, 2021. The accumulated deficit as of December 31, 2021 was $4,488,434.
An accumulated deficit indicates the total losses Golden Krust Caribbean Restaurant has incurred over its lifetime, which have not been offset by profits. This is a critical figure for prospective franchisees to consider, as it provides insight into the financial stability and historical performance of the company.
Reviewing the changes in shareholders' deficit over the reported years (2022 and 2021) allows potential franchisees to understand the trajectory of the company's profitability and how it manages its financial challenges. This information, combined with other financial statements and due diligence, helps in assessing the overall risk and potential return on investment in a Golden Krust Caribbean Restaurant franchise.