Are the financial statements for All States M.E.D. audited?
All_States_M_E_D Franchise · 2024 FDDAnswer from 2024 FDD Document
ettlement after the agreement is in effect and where the parties are represented by independent counsel. Provisions such as those that unreasonably restrict or limit the statute of limitations period for claims under the Act, rights or remedies under the Act such as a right to a jury trial may not be enforceable.
The undersigned does hereby acknowledge receipt of this addendum.
| FRANCHISEE: | FRANCHISOR: All States M.E.D. Franchising, LLC |
|---|---|
| By: | By: |
| By: | Date: |
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.
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 43–44)
What This Means (2024 FDD)
According to All States M.E.D.'s 2024 Franchise Disclosure Document, the company's financial statements are indeed audited. The FDD includes an Independent Auditors' Report from Smith, Buzzi & Associates, LLC, a firm of Certified Public Accountants located in Miami, Florida. This report covers the financial statements as of December 31, 2023, and for the period from July 11, 2023 (the commencement of operations) to December 31, 2023.
The Independent Auditors' Report expresses the opinion that the financial statements of All States M.E.D. Franchising, LLC present fairly, in all material respects, the financial position as of December 31, 2023, and the results of its operations and cash flows for the period then ended, in accordance with accounting principles generally accepted in the United States of America. This opinion is based on an audit conducted in accordance with auditing standards generally accepted in the United States of America (GAAS).
The audit involved procedures such as examining evidence on a test basis, understanding internal control relevant to the audit, evaluating accounting policies, and assessing significant accounting estimates made by management. The auditors also evaluated whether there were conditions or events that raised substantial doubt about All States M.E.D.'s ability to continue as a going concern. The presence of an independent auditor's report adds credibility to the financial statements, assuring potential franchisees that the financial information has been reviewed by an objective third party.