What was the net cash used in financing activities for Goldfish Swim School in 2020?
Goldfish_Swim_School Franchise · 2025 FDDAnswer from 2025 FDD Document
ecember 31, 2022, 2021, and 2020**
Note 3 - Adoption of New Accounting Pronouncement (Continued)
As a result of the adoption of the ASU, the Company recorded a right-of-use asset of $1,869,195 and a lease liability of $1,869,195 as of January 1, 2022 for the existing operating lease. There was no impact on retained earnings as a result of adopting the new ASU.
Note 4 - Paycheck Protection Program Loans
During the years ended December 31, 2021 and 2020, Goldfish Swim School Franchising, LLC received Paycheck Protection Program loans in the amounts of $693,815 and $780,423, respectively. The PPP was created under the Coronavirus Aid, Relief, and Economic Security (CARES) Act and is administered by the Small Business Administration (SBA). Under the terms of this program, the loan may be fully or partially forgiven if the loan proceeds are spent on qualifying expenses and if staffing level and
Source: Item 22 — CONTRACTS (FDD pages 76–77)
What This Means (2025 FDD)
I am unable to provide the exact figure for the net cash used in financing activities for Goldfish Swim School in 2020, as this specific data is not present in the provided excerpts from the 2025 Franchise Disclosure Document. While the document includes consolidated financial statements and notes, it does not break down the cash flow statement to the level of detail required to identify net cash used in financing activities. The FDD does include information on Paycheck Protection Program loans received in 2020, which would be classified as financing activities. Specifically, Goldfish Swim School received $780,423 in PPP loans during 2020. However, without the full cash flow statement, it is impossible to determine the net impact of all financing activities.
A prospective franchisee would need to review the complete audited financial statements within the FDD to find this information. Specifically, they should look for the consolidated statement of cash flows, which details the inflows and outflows of cash related to financing, investing, and operating activities.
To get a clearer picture, a potential franchisee should ask Goldfish Swim School for the complete cash flow statement. This will help them understand how the company manages its debt, equity, and other financing-related transactions. Understanding these cash flow dynamics is crucial for assessing the financial health and stability of Goldfish Swim School.