What were the total current liabilities for Kidokinetics in 2021?
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 company's total current liabilities in 2021 were $146,339. This figure represents the sum of all obligations due within one year, including accounts payable, accrued expenses, and deferred revenue.
For a prospective Kidokinetics franchisee, understanding the franchisor's liabilities is crucial for assessing the financial stability of the company. A high level of current liabilities relative to current assets could indicate potential liquidity issues, which might affect the franchisor's ability to support its franchisees. Conversely, lower liabilities may suggest a more stable financial position.
It's important to note that while the FDD provides historical financial data, future performance may vary. Franchisees should consult with a financial advisor to analyze these figures in the context of their own investment and risk tolerance. Reviewing the trend of liabilities over the three years presented (2021-2023) can also provide insights into how Kidokinetics manages its short-term obligations and overall financial health.