What amount of Hyper Kidz's long-term debt is due in 2027?
Hyper_Kidz Franchise · 2024 FDDAnswer from 2024 FDD Document
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NOTE 2 – CONTRACT BALANCES (CONTINUED)
Disaggregation of Revenues
Disaggregated revenues based on the satisfaction of performance obligations in the Company's contracts with franchisees as of December 31, 2021, and 2020 is as follows:
| 2022 | 2021 | 2020 | |
|---|---|---|---|
| Performance obligations satisfied at a point in | $ 11,473 | $ 2,827 | $ 246,351 |
| time | |||
| Performance obligations satisfied through the | 88,897 | 67,210 | 6,913 |
| passage of time | |||
| Total revenues | $ 100,370 | $ 70,037 | $ 253,264 |
| NOTE 3 – NOTE PAYABLE | |||
| Notes payable consist of the following at December 31, | 2022 | 2021 | |
| Note payable with the Small Business Administration Face amount of $79,000, payable in 360 monthly installments of $407 including interest at the rate of 3.75% Final payment due on September 21, 2050. Collateralized by assets of the Company. | $ 79,000 79,000 | $ 79,000 79,000 | |
| Less current maturities | (43 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 52)
What This Means (2024 FDD)
According to Hyper Kidz's 2024 Franchise Disclosure Document, the maturities of the long-term debt are detailed in Note 3. As of December 31, 2022, the amount of long-term debt due in 2027 is $1,964.
This information is crucial for prospective franchisees as it provides insight into the company's debt obligations and repayment schedule. Understanding the long-term debt structure helps franchisees assess the financial stability of Hyper Kidz.
Specifically, knowing the amount due in 2027 allows franchisees to gauge the company's ability to manage its financial commitments in the future. This can influence their confidence in the franchise's long-term viability and sustainability.