Does the Aerus Franchise Disclosure Document include audited financial statements?

I received a franchise disclosure document dated May 15, 2025 that included the following exhibits:

State Addenda (California, Illinois, Maryland, Minnesota, New York, North Dakota, South Dakota, Virginia, Washington, Wisconsin)

Exhibit 1 – Financial Statements

Independent Auditor's Report

To the Board of Directors and Members of Aerus Franchising, LLC Dallas, Texas

Opinion

We have audited the accompanying financial statements of Aerus Franchising, LLC (the "Company") (a Delaware limited liability company), which comprise the balance sheets as of December 31, 2024 and 2023, and the related statements of income, members' equity, and cash flows for each of the three years in the period ended December 31, 2024, and the related notes to the financial statements.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2024 in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinion

We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Company and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Responsibilities of Management for the Financial Statements

Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud of error.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that the financial statements are available to be issued.

Auditor's Responsibilities for the Audit of the Financial Statements

Source: Item 21 — Financial Statements (FDD pages 73–74)