Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
8th grade Bad
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New words:
CECL, collateralized, collateralizing, conversion, delinquency, deterioration, digital, elevated, Enhanced, equate, evenly, evident, exempt, found, greater, high, history, III, imminent, instrument, IV, lifetime, likelihood, manifested, methodology, model, network, notable, policy, portfolio, potential, prolonged, quality, reserve, reversion, segment, single, specific, specifically, supportable, traditional, unamortized, uncollateralized, weighted
Removed:
carried, collection, converted, decreased, delivery, doubtful, existed, experience, identifying, invoice, online, ordering, previously, professional, recovery, Simplifying, travel, troubled, unsecured, unused, usage, written
Financial report summary
?Management Discussion
- Total revenues from all sources increased $223,000, or 6.8%, to $3,510,000 in 2023 from $3,287,000 in the prior year. Marketing revenue increased $163,000 in 2023 compared to 2022 and royalty revenue increased $107,000, offset by a decrease in franchise fee revenue of $26,000 in 2023 versus 2022, and licensing and other revenue decreased $20,000 in 2023 compared to 2022.
- Royalty fee revenue of $1,945,000, for the fiscal year ended November 30, 2023, increased $107,000, or 5.8%, from the $1,838,000 for fiscal year ended November 30, 2022. The increase in royalties for the fiscal year ended November 30, 2023 was primarily due to franchisees continued increase in usage of online ordering and delivery services in their areas, combined with many franchisees during fiscal 2023 raised prices, as was common in the restaurant industry.
- Franchise fee revenue decreased $26,000, or 49.1%, to $27,000 in 2023 as compared to $53,000 in 2022. In 2023 there were two transfers, and one store closed that had not been fully amortized resulting in $2,000 in franchise fees recognized, in addition to the normal monthly amortization. In 2022 there were five transfers, one store closed that had not been fully amortized resulting in $5,000 in franchise fees recognized and one store opened resulting in $6,000 in franchise fee in addition to the normal monthly amortization.