factual

What is the significance of August 15 for All States M.E.D.?

All_States_M_E_D Franchise · 2024 FDD

Answer from 2024 FDD Document

All States M.E.D. Franchising, LLC.

Financial Statements

August 15, 2023

(With Independent Auditors' Report Thereon)

SMITH, BUZZI & ASSOCIATES, LLC.

INDEPENDENT AUDITORS' REPORT

To the Members of All States M.E.D. Franchising, LLC.

Report on the Financial Statements

We have audited the accompanying financial statements of All States M.E.D. Franchising, LLC., which comprise the balance sheet as of August 15, 2023 and the related notes to the financial statements.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes 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 or error.

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, August 15, 2023, is the date of the company's balance sheet and related notes to the financial statements included in the FDD. The financial statements include an independent auditor's report. The report confirms that the financial statements of All States M.E.D. Franchising, LLC., which comprise the balance sheet as of August 15, 2023, have been audited.

The auditor's report also specifies that management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America. This responsibility includes 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 or error.

For a prospective All States M.E.D. franchisee, this date is important because it signifies the date to which the audited financial information about the company is current. Reviewing these financial statements and the auditor's report is a standard part of due diligence to assess the financial health and stability of the franchisor. It is important to note that the financial statements only reflect the company's financial position as of this specific date and may not reflect more recent financial performance.

Disclaimer: This information is extracted from the 2024 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.