What was the contract liability for Spray Net in 2022?
Spray_Net Franchise · 2025 FDDAnswer from 2025 FDD Document
We have audited the financial statements of Spray-Net, Inc., which comprises the balance sheet as of December 31, 2024, 2023 and 2022 and the related statement of operations, and changes in stockholders' equity, and cash flows for the years then ended, and the related notes to the financial statements.
In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the financial position of Spray-Net, Inc. as of December 31, 2024, 2023 and 2022, and the results of its operations and its cash flows for the years then ended, in accordance with accounting principles generally accepted in the United States of America.
Source: Item 23 — RECEIPTS (FDD pages 75–219)
What This Means (2025 FDD)
I am unable to provide information regarding Spray Net's contract liability in 2022, as this specific financial data is not present within the provided excerpts from the 2025 Franchise Disclosure Document. While the excerpts include an Independent Auditor's Report that references financial statements for December 31, 2024, 2023, and 2022, and mentions a balance sheet, statement of operations, changes in stockholders' equity, and cash flows, it does not disclose the specific figure for contract liability.
Item 23 generally covers receipts and acknowledgements, including legal and financial statements. However, the excerpts focus on topics such as software responsibilities, privacy policies, and addenda for specific states like Maryland and Minnesota. These sections outline the responsibilities of both Spray Net and the franchisee regarding software usage, data privacy, and legal compliance within those states.
To obtain the specific contract liability for Spray Net in 2022, a prospective franchisee should carefully review the complete audited financial statements included in the 2025 FDD and consider consulting with a financial advisor. Additionally, they should ask Spray Net's management directly for clarification on any specific aspects of their financial condition and contract liabilities.