Are Belocal's financial statements audited?

According to Belocal's 2025 Franchise Disclosure Document, the financial statements are indeed audited. Item 21 explicitly states that the audited financial statements for the periods of July 1, 2022, to June 30, 2023, July 1, 2023, to June 30, 2024, and July 1, 2024, to June 30, 2025, are attached as Exhibit A. The fiscal year for Belocal ends on June 30.

Furthermore, the Independent Auditor's Report included in Item 23 details the scope and opinion of the audit conducted by AGLLP, CPAs. The report confirms that AGLLP audited the balance sheets as of June 30, 2025, and 2024, along with the related statements of operations, changes in stockholders' equity, and cash flows for the years ended June 30, 2025, 2024, and 2023. The auditor's opinion states that the financial statements present fairly the financial position of N2 Franchising, Inc. in accordance with accounting principles generally accepted in the United States of America.

This independent audit provides prospective Belocal franchisees with assurance that the financial information presented by the franchisor has been examined by an independent accounting firm and found to be fairly presented. This is a standard practice in franchising and enhances the credibility of the financial information provided in the FDD, which can help franchisees make informed decisions.