What is the deadline for submitting quarterly business financial statements to Aunt Millies Bakeries?

According to Aunt Millies Bakeries's 2025 Franchise Disclosure Document, franchisees must submit quarterly business financial statements to the Note Holder within 30 days of the close of each calendar quarter. Additionally, annual tax returns must be submitted within 30 days of the date they are due for filing. The Note Holder must find the form of these submissions satisfactory.

Failure to comply with these requirements constitutes a default under the terms of the agreement. This means that if a franchisee does not submit the required financial statements on time or in the required format, Aunt Millies Bakeries has the option to demand immediate payment of all outstanding obligations, including principal, interest, and late charges, without any prior notice.

This requirement underscores the importance of maintaining accurate and timely financial records. Franchisees should establish robust accounting practices to ensure they can meet these deadlines. The consequences of default can be severe, potentially leading to the loss of the franchise. Therefore, franchisees must prioritize these reporting obligations and seek professional assistance if needed to ensure compliance.