Does the Best Brains FDD specify if the revenue from operations figures are preliminary or final?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
Exhibit H contains our audited financial statements for the fiscal years ending December 31, 2024, 2023, and 2022, as well as our unaudited Balance Sheet as of March 31, 2025 and our unaudited Profit & Loss Statement for the time period January 1, 2025 – March 31, 2025.
The following statement applies to the unaudited portion of the financial statements which follow:
THESE FINANCIAL STATEMENTS ARE PREPARED WITHOUT AN AUDIT. PROSPECTIVE FRANCHISEES OR SELLERS OF FRANCHISES SHOULD BE ADVISED THAT NO CERTIFIED PUBLIC ACCOUNTANT HAD AUDITED THESE FIGURES OR EXPRESSED HIS/HER OPINION WITH REGARD TO THE CONTENT OR FORM.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to the 2025 Best Brains Franchise Disclosure Document, the financial statements for the fiscal years ending December 31, 2024, 2023, and 2022 are audited. Additionally, the Balance Sheet as of March 31, 2025, and the Profit & Loss Statement for the period January 1, 2025 – March 31, 2025 are unaudited.
The Best Brains FDD includes a disclaimer that applies to the unaudited portion of the financial statements. This disclaimer advises prospective franchisees to recognize that no certified public accountant has audited these figures or expressed an opinion regarding their content or form.
For a prospective Best Brains franchisee, this means that while some financial data has been verified by an independent auditor, other data has not undergone the same level of scrutiny. Therefore, when reviewing the financial performance of Best Brains, it is important to distinguish between the audited and unaudited statements and to consider the disclaimer regarding the unaudited figures.