What is the significance of December 31 for All States M.E.D.?
All_States_M_E_D Franchise · 2024 FDDAnswer from 2024 FDD Document
include rights under the Washington Franchise Investment Protection Act except when executed according to a negotiated settlement 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.
Report on the Financial Statements
We have audited the financial statements of All States M.E.D.
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, December 31, 2023, is the date of the company's financial statements. These statements include an independent auditor's report and cover the period from July 11, 2023, the company's commencement of operations, to December 31, 2023. The financial statements provide a snapshot of All States M.E.D.'s financial position and performance during its initial months of franchising.
The financial statements audited by Smith, Buzzi & Associates, LLC, include a balance sheet as of December 31, 2023, and related statements of operations, members' equity, and cash flows for the period from July 11, 2023, to December 31, 2023. The auditors' report expresses an opinion that these financial statements present fairly the financial position of All States M.E.D. as of December 31, 2023, in accordance with accounting principles generally accepted in the United States of America.
Furthermore, the notes to the financial statements also reference December 31, 2023. Specifically, the depreciation expense for the period ending on December 31, 2023, is reported as $0. This indicates that during this initial period, All States M.E.D. had not yet incurred any depreciation expenses. These audited financial statements are crucial for prospective franchisees to assess the financial health and stability of All States M.E.D. before investing in a franchise.