For Angry Chickz Franchising, LLC, what periods do the audited financial statements cover?
Angry_Chickz Franchise · 2025 FDDAnswer from 2025 FDD Document
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Report of Independent Auditors
To the Member Angry Chickz Franchising, LLC
Report on the Audit of the Financial Statement
Opinion
We have audited the financial statements of Angry Chickz Franchising, LLC, which comprise the balance sheets as of December 31, 2024 and 2023, and the related statements of operations and member's deficit, and cash flows for the year ended December 31, 2024 and for the period from June 9, 2023 (inception) to December 31, 2023, and the related notes to the financial statements.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 54)
What This Means (2025 FDD)
According to the 2025 Angry Chickz FDD, the audited financial statements include balance sheets as of December 31, 2024, and 2023. These statements also cover the statements of operations and member's deficit, as well as cash flows for the year ending December 31, 2024, and for the period from June 9, 2023 (inception) to December 31, 2023.
For a prospective franchisee, this means they can review Angry Chickz's financial performance for these specific periods to understand the company's financial health and stability. The inclusion of both balance sheets and statements of operations, member's deficit, and cash flows provides a comprehensive view of the company's financial activities.
It's important to note that because Angry Chickz has not been in business for three years, the FDD does not include the three prior years of audited financial statements typically required. However, the FDD does include unaudited financial statements as of March 31, 2025. This limited financial history may require a franchisee to conduct additional due diligence to assess the company's long-term financial viability.