What was the total amount due from related parties for Itan in 2023?
Itan Franchise · 2025 FDDAnswer from 2025 FDD Document
f significant accounting estimates made by management, as well as evaluate the overall presentation of financial statements.
- Conclude whether, in our judgment, there are conditions or events, considered in the aggregate that raise substantial doubt about iTan Franchising, Inc.'s ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, a
Source: Item 23 — RECEIPT (FDD pages 44–190)
What This Means (2025 FDD)
According to Itan's 2025 Franchise Disclosure Document, the total amount due from related parties in 2023 was $1,550,230. This figure is listed as an asset on Itan's balance sheet. It represents money owed to Itan by entities related to the company. Understanding the nature of these related-party transactions is crucial for prospective franchisees. Note 5 in the balance sheet provides additional details regarding related parties.
It is important to note that the amount due from related parties can fluctuate year to year, as seen by the 2024 figure of $1,700,000. These fluctuations can be influenced by various factors, including changes in loan agreements or expense payments made on behalf of related parties.
For a prospective Itan franchisee, it's important to investigate the details behind "due from related parties." High balances in this category might indicate financial dependencies or complexities that require careful consideration. It is important to review Note 5, as referenced in the table, for a detailed explanation of these related-party transactions.