What was the amount of the operating lease liability, current, for Kidokinetics in 2022?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
23, 2022, and 2021
| 2023 | 2022 | 2021 | ||||
|---|---|---|---|---|---|---|
| Assets | ||||||
| Current assets | ||||||
| Cash and cash equivalents | $ | 76,964 | $ | 32,500 | $ | 40,556 |
| Accounts receivable | 446,951 | 498 | - | |||
| Deferred contract costs, current | 340,727 | 326,228 | - | |||
| Total current assets | 864,642 | 359,226 | 40,556 | |||
| Non-current assets | ||||||
| Leasehold improvements, net | 36,727 | 48,127 | 55,087 | |||
| Intangible assets, net | 25,107 | 50,553 | 43,554 | |||
| Right of use asset | 24,593 | 81,087 | - | |||
| Deferred contract costs, non-current | 1,173,255 | 282,706 | - | |||
| Other non-current assets | 9,600 | 9,600 | 9,600 | |||
| Total non-current assets | 1,269,282 | 472,073 | 108,241 | |||
| Total assets | $ | 2,133,924 | $ | 831,299 | $ | 148,797 |
| Liabilities and Members' Equity (Deficit) | ||||||
| Current liabilities | ||||||
| S | 748,939 | $ | 354,239 | S | 68,939 | |
| Accounts payable | Þ | 138,810 | Ф | 41,609 | $ | 08,939 |
| Accrued expenses Credit card liability | 159,035 | 206,381 | 47,806 | |||
| Loans from member | 34,439 | 31,092 | 29,594 | |||
| Lines of credit | 243,821 , | 31,092 60.041 | 29,394 - | |||
| Note payable, current | 13,158 | 60,941 | - | |||
| Operating lease liability, current | 25,318 | 57,509 | - | |||
| Deferred revenue, current | 506,073 | _ | 595,065 | _ | 146 220 | |
| Total current liabilities Non-current liabilities | 1,869,593 16.042 | _ | 1,346,836 | 146,339 | ||
| Note payable, non-current | 16,842 | 25 210 | - | |||
| Operating lease liability, non-current | 1 044 262 | 25,318 | - | |||
| Deferred revenue, non-current | 1,844,262 | _ | 289,713 | _ | ||
| Total non-current liabilities | 1,861,104 | _ | 315,031 | 146 220 | ||
| Total liabilities | _ | 3,730,697 | _ | 1,661,867 | 146,339 | |
| Members' equity (deficit) | ||||||
| Members' interests | 406,386 | 406,386 | 427,077 | |||
| Retained earnings (accumulated deficit) | (2,003,159) | (1,236,954) | (424,619) | |||
| Total members' equity (deficit) | (1,596,773) | (830,568) | 2,458 | |||
| Total liabilities and members' equity (deficit) | $ | 2,133,924 | $ | 831, |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 59)
What This Means (2024 FDD)
According to Kidokinetics's 2024 Franchise Disclosure Document, the operating lease liability, current, for 2022 was $57,509. This figure represents the portion of Kidokinetics's lease obligations due within the next year.
For a prospective franchisee, understanding the operating lease liability is crucial because it reflects the company's short-term financial obligations related to leased assets, such as office space. This liability is a part of the overall financial health assessment, indicating how much Kidokinetics owes in current lease payments.
Reviewing these figures allows potential franchisees to assess Kidokinetics's financial stability and its ability to manage its lease obligations. A high current operating lease liability might suggest a significant short-term financial burden, while a lower figure could indicate better financial flexibility.