What exhibit contains the financial statements for All States M.E.D.?
All_States_M_E_D Franchise · 2024 FDDAnswer from 2024 FDD Document
[Item 23: RECEIPTS]
EXHIBIT F TO THE DISCLOSURE DOCUMENT FINANCIAL STATEMENTS
Financial Statements
December 31, 2023
(With Independent Auditors' Report Thereon)
SMITH, BUZZI & ASSOCIATES, LLC.
CERTIFIED PUBLIC ACCOUNTANTS 9425 SUNSET DRIVE, SUITE 180 MIAMI, FLORIDA 33173 TEL. (305) 598-6701 FAX (305) 598-6716
JULIO M. BUZZI, C.P.A. MEMBERS:
JOSE E. SMITH, C.P.A. AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS FLORIDA INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS
INDEPENDENT AUDITORS' REPORT
To the Members of All States M.E.D. Franchising, LLC.
Report on the Financial Statements
We have audited the financial statements of All States M.E.D. Franchising, LLC., which comprise the balance sheet as of December 31, 2023 and the related statements of operations and members' equity and cash flows for the period from July 11, 2023 ("Commencement of operations") to December 31, 2023 and the related notes to the financial statements.
In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position All States M.E.D. Franchising, LLC. as of December 31, 2023, and the results of its operations and its cash flows for the period then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 43–44)
What This Means (2024 FDD)
According to the 2024 All States M.E.D. Franchise Disclosure Document, the financial statements are located in Exhibit F. This exhibit includes the financial statements as of December 31, 2023, along with the independent auditors' report. The audit was conducted by Smith, Buzzi & Associates, LLC, a certified public accounting firm based in Miami, Florida.
These financial statements provide a prospective All States M.E.D. franchisee with an overview of the franchisor's financial health. It includes the balance sheet, statements of operations and members' equity, and cash flows for the period from July 11, 2023 (commencement of operations) to December 31, 2023. The independent auditors' report indicates that the financial statements are presented fairly and in accordance with accounting principles generally accepted in the United States of America.
Reviewing these statements is a crucial step for potential franchisees to assess the financial stability and performance of All States M.E.D. before making a decision to invest in a franchise. It is common practice for franchisors to include audited financial statements in their FDDs to provide transparency and build trust with prospective franchisees.