What was the net cash used in financing activities for Goldfish Swim School in 2023?
Goldfish_Swim_School Franchise · 2025 FDDAnswer from 2025 FDD Document
Distributions | (10,520,331) | | Balance - December 31, 2022 | 1,434,430 | | Consolidated net income | 10,535,457 | | Distributions | (9,502,133) | | Balance - December 31, 2023 | $ 2,467,754 |
Consolidated Statement of Cash Flows
Years Ended December 31, 2023, 2022, and 2021
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| Cash Flows from Operating Activities | $ 10,535,457 $ | 8,431,388 $ | 6,811,057 |
| Consolidated net income | |||
| Adjustments to reconcile consolidated net income to net | |||
| cash, cash equivalents, and restricted cash from | |||
| operating activities: Depreciation Amortization of debt issuance costs Amortization of leased asset - Operating lease PPP loan forgiveness Changes in operating assets and liabilities that (used) provided cash, cash equivalents, and restricted | 127,091 96,122 | 219,594 551 94,277 | 295,183 945 (693,815) |
| cash: Accounts receivable Prepaid expenses and other assets Accounts payable Accrued and other liabilities Deferred revenue Lease liability | (326,236) (78,688) (129,700) (16,249) 408,889 (96,122) | (401,517) (32,003) (133,496) (1,151,918) 407,972 (94,277) | (796,140) (32,826) 251,296 1,123,412 (16,111) |
| Net cash, cash equivalents, and restricted | 10,520,564 | 7,340,571 | 6,943,001 |
| cash provided by operating activities | |||
| Cash Flows from Investing Activities Purchase of property and equipment Advances to related p |
Source: Item 22 — CONTRACTS (FDD pages 76–77)
What This Means (2025 FDD)
According to Goldfish Swim School's 2025 Franchise Disclosure Document, the net cash used in financing activities in 2023 is detailed in the consolidated financial statements. The table provided outlines the cash flows from various activities, including operating, investing, and financing activities.
Specifically, when examining the cash flows from financing activities for the year 2023, the table lists 'Proceeds from PPP loan', 'Payments on debt', and 'Distributions'. The table shows that the net cash used in financing activities for Goldfish Swim School in 2023 was not explicitly listed as a total, but the individual components are listed.
To fully understand the financial activities, a prospective franchisee should request a complete copy of the financial statements from Goldfish Swim School. This will allow for a detailed review of all cash flow activities and a better understanding of the company's financial health.