What was the cash at the beginning of the period for Bombs Away Franchising LLC?
Bombs_Away Franchise · 2024 FDDAnswer from 2024 FDD Document
We have not been in business for three years or more, and therefore cannot include all financial statements required by the Franchise Rule of the Federal Trade Commission. Exhibit C contains our audited financial statements dated December 31, 2023 and opening balance sheet dated December 31, 2022. Our fiscal year end is December 31
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 35)
What This Means (2024 FDD)
Based on the 2024 FDD, Bombs Away Franchising LLC's balance sheet as of December 31, 2022, serves as the opening balance sheet for the period analyzed. The FDD includes audited financial statements dated December 31, 2023, and an opening balance sheet dated December 31, 2022.
However, the provided excerpts do not contain the actual balance sheet data showing the cash balance as of December 31, 2022. The excerpts include the accountant's audit report, notes to the financial statements, and statements of cash flow and shareholder equity, but the specific figure for cash at the beginning of the period is absent.
A prospective Bombs Away franchisee should request a copy of the complete December 31, 2022 balance sheet from the franchisor to determine the company's cash position at the beginning of the period. This information is crucial for assessing the financial health and stability of Bombs Away before making an investment decision.