Where can I find the Azal Coffee unaudited opening balance sheet?
Azal_Coffee Franchise · 2024 FDDAnswer from 2024 FDD Document
[Item 21: FINANCIAL STATEMENTS]
ITEM 21—FINANCIAL STATEMENTS
Our unaudited opening balance sheet as of July 11, 2024 is attached as Exhibit H. We have not been in business for three years, so we are not able to provide the financial statements normally required, which includes balance sheets for the previous two fiscal years and statements of operations, stockholders' equity and cash flows for the previous three fiscal years.
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 50–51)
What This Means (2024 FDD)
According to Azal Coffee's 2024 Franchise Disclosure Document, the company's unaudited opening balance sheet as of July 11, 2024, is included as Exhibit H. Because Azal Coffee has not been in business for three years, they are unable to provide the financial statements normally required. These include balance sheets for the previous two fiscal years and statements of operations, stockholders' equity, and cash flows for the previous three fiscal years.
Prospective franchisees can review Exhibit H to gain insights into Azal Coffee's financial position at the time they began offering franchises. This is a snapshot of the company's assets, liabilities, and equity at that specific date.
It is important to note that these are unaudited financial statements, meaning they have not been independently verified by a certified public accountant. While still providing useful information, unaudited statements carry a higher risk of containing errors or misstatements compared to audited statements. Franchisees should consider this when evaluating the financial health of Azal Coffee.