What was the total value of Kidokinetics' current liabilities as of December 31, 2021?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
| 2023 | 2022 | 2021 | ||||
|---|---|---|---|---|---|---|
| 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 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 59)
What This Means (2024 FDD)
According to Kidokinetics' 2024 Franchise Disclosure Document, the company's total current liabilities as of December 31, 2021, were $146,339. This figure represents the sum of Kidokinetics' obligations due within one year, including accounts payable, accrued expenses, and deferred revenue.
For a prospective franchisee, understanding the franchisor's liabilities is crucial for assessing the financial stability of Kidokinetics. Current liabilities indicate the company's short-term financial obligations and its ability to meet them. A high level of current liabilities relative to current assets could indicate potential liquidity issues, while a lower level generally suggests a stronger short-term financial position.
It is important to note that the current liabilities are just one aspect of Kidokinetics' overall financial health. A prospective franchisee should also consider the company's assets, long-term liabilities, and overall profitability to gain a comprehensive understanding of its financial condition. Reviewing the complete financial statements and seeking professional financial advice is recommended to make an informed investment decision.