As of what date did the Mrcool company have no outstanding debt?
Mrcool Franchise · 2025 FDDAnswer from 2025 FDD Document
Subsequent to the date of these financial statements, the Company extinguished all outstanding debt obligations through capital contributions made by its members. As a result, the Company now has no outstanding debt as of the date of this report.
The Company evaluated all subsequent events through the date of this report, which is the date the financial statements were available to be issued.
Source: Item 23 — RECEIPTS (FDD pages 55–263)
What This Means (2025 FDD)
According to Mrcool's 2025 Franchise Disclosure Document, the company extinguished all outstanding debt obligations through capital contributions made by its members. As a result, Mrcool had no outstanding debt as of the date of the report. The company evaluated all subsequent events through the date of this report, which is the date the financial statements were available to be issued. The independent auditor's report is dated February 12, 2025. Therefore, the date of the report is February 12, 2025.
This means that as of February 12, 2025, Mrcool had cleared all its outstanding debt. This could be a positive sign for potential franchisees, indicating that the company has a handle on its finances and is in a stable position.
However, it's important to note that the financial situation of a franchisor can change. Prospective franchisees should review the full financial statements and consider consulting with a financial advisor to fully understand the implications of Mrcool's debt history and current financial status.