What was the total amount of Spray Net's total assets at the end of 2024?
Spray_Net Franchise · 2025 FDDAnswer from 2025 FDD Document
ty | | 580,993 | | 375,584 | | 560,772 | | Deferred income taxes | | _ | | - | | _ | | Customer deposits - convention | | _ | | _ | | 35,790 | | Brand fund liability | _ | | _ | | _ | 80,280 | | Total Current Liabilities | | 632,929 | _ | 452,689 | _ | 1,123,533 | | Long Term Liabilities | | | | | | | | Contract Liability, net of current | | 3,291,079 | $\equiv$ | 2,758,841 | | 2,795,050 | | Stockholder's (Deficit) | | | | | | | | Common stock | | 38 | | 38 | | 38 | | Equity (Deficit) | | (777,761) | | 22,784 | | (816,921) | | Stockholder's (Deficit) | = | (777,723) | _ | 22,822 | = | (816,883) | | Total Liabilities and Stockholder's (Deficit) | $ 3 | 3,146,285 | $ : | 3,234,352 | $ | 3,101,700 |
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Revenues | |||
| Franchise revenues | $ 516,443 |
Source: Item 23 — RECEIPTS (FDD pages 75–219)
What This Means (2025 FDD)
Based on Spray Net's 2025 Franchise Disclosure Document, the provided excerpts do not contain a specific figure for the company's total assets as of December 31, 2024. While the document includes an Independent Auditor's Report and discusses the company's financial statements, including the balance sheet, it does not explicitly state the total asset value. The excerpts focus on revenues, expenses, liabilities, and equity, but omit the consolidated asset figure.
Instead, the financial data provided includes revenue streams like franchise revenues ($516,443 in 2024), training revenues ($210,000 in 2024), royalties ($446,767 in 2024), and local and digital marketing revenues ($1,490,118 in 2024). It also details operating expenses ($3,701,092 in 2024) and net income/loss figures, with a net loss of ($800,545) for 2024. Stockholder's equity is also mentioned, ending with a deficit of ($777,761) in 2024.
A prospective franchisee should directly request the total asset figure from Spray Net to gain a clearer understanding of the company's overall financial health and stability. Understanding the asset composition in relation to liabilities and equity is crucial for assessing the financial risk and potential of investing in a Spray Net franchise. This information is typically found on the balance sheet, which the auditor's report confirms exists but does not detail in the provided excerpts.