For the 5-month period ended May 31, 2025, were the consolidated financial statements for 1-800-GOT-JUNK? audited?
1_800_Got_Junk Franchise · 2025 FDDAnswer from 2025 FDD Document
ITEM 21. Financial Statements
Our unaudited financial statements as at May 31, 2025; and our audited financial statements as at December 31, 2024, December 31, 2023, and December 31, 2022; are attached to this disclosure document as Exhibit E. 4899-8658-3815.1
ITEM 22. Contracts
All proposed agreements regarding the franchise offering are attached as follows:
Exhibit B - Franchise Agreement Exhibit F - Guarantee, Postponement and Covenants Exhibit G - General Security Agreement Exhibit H - National Account Service Agreement Exhibit I - State-Specific Addenda Exhibit J - Franchisee Disclosure Questionnaire and Certification Exhibit K - Form of General Release
EXHIBIT E Financial Statements THESE FINANCIAL STATEMENTS ARE PREPARED WITHOUT AN AUDIT. PROSPECTIVE FRANCHISEES OR SELLERS OF FRANCHISES SHOULD BE ADVISED THAT NO CERTIFIED PUBLIC ACCOUNTANT HAS AUDITED THESE FIGURES OR EXPRESSED HIS/HER OPINION WITH REGARD TO THE CONTENT OR FORM. Consolidated Financial Statements (Unaudited - Expressed in United States dollars) 1-800-GOT-JUNK? LLC For the 5-month period ended May 31, 2025 1-800-GOT-JUNK? LLC Consolidated Balance Sheets (Unaudited - Expressed in United States dollars)
May 31, 2025 and December 31, 2024
Source: Item 21 — Financial Statements (FDD page 56)
What This Means (2025 FDD)
According to 1-800-GOT-JUNK?'s 2025 Franchise Disclosure Document, the consolidated financial statements for the 5-month period ended May 31, 2025, were not audited. The document specifies that the financial statements as of that date are unaudited.
Item 21 of the FDD includes the financial statements. Exhibit E contains the financial statements, and it explicitly states that these financial statements were prepared without an audit. It also advises prospective franchisees to note that no Certified Public Accountant has audited these figures or expressed an opinion on their content or form.
This means that the financial information provided for this interim period has not been independently verified for accuracy or compliance with accounting standards. While unaudited statements can still provide useful information, prospective franchisees should be aware of the inherent limitations and potential for inaccuracies. It is common practice for franchisors to provide audited financial statements for year-end periods and unaudited statements for interim periods.