Which exhibit contains the guaranty of GoTo Systems for Auntie Annes?
Auntie_Annes Franchise · 2024 FDDAnswer from 2024 FDD Document
Attached as Exhibit A to this Disclosure Document are the audited financial statements of GoTo Systems, our parent company, which include the consolidated balance sheets as of December 31, 2023 and December 25, 2022 and the related consolidated statements of operations, changes in member's equity, and cash flows for the fiscal years ended December 31, 2023, December 25, 2022, and December 26, 2021. GoTo Systems guarantees the performance of our obligations under the Franchise Agreement. A copy of the guaranty of GoTo Systems is attached as Exhibit A.
As reflected in Item 1, GoTo Foods will be providing required support and services to franchisees under a management agreement with us. Attached as Exhibit A are the audited financial statements of GoTo Foods as of and for the fiscal years December 31, 2023 and December 25, 2022. These financial statements are being provided for disclosure purposes only. GoTo Foods is not a party to the Franchise Agreement or other
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 105–106)
What This Means (2024 FDD)
According to Auntie Annes's 2024 Franchise Disclosure Document, the guaranty of GoTo Systems is included as part of Exhibit A. This exhibit contains the audited financial statements of GoTo Systems, Auntie Anne's parent company. GoTo Systems guarantees Auntie Anne's performance of its obligations under the Franchise Agreement.
Exhibit A also includes the audited financial statements of GoTo Foods, which provides support and services to Auntie Anne's franchisees under a management agreement. However, the FDD states that GoTo Foods is not a party to the Franchise Agreement.
Prospective franchisees should carefully review Exhibit A to understand the financial stability of GoTo Systems and the extent of its guarantee, as well as the financial statements of GoTo Foods, to assess the support and services it provides to Auntie Annes franchisees.