Does Browns Chicken provide an unaudited balance sheet in Exhibit A, and if so, as of what date?
Browns_Chicken Franchise · 2025 FDDAnswer from 2025 FDD Document
Attached hereto as Exhibit A is Brown's audited balance sheet as of December 31, 2024, December 31, 2023, and December 31, 2022, and the Statement of Operations, Statement of Changes in Members' Equity, and Statement of Cash Flows for the years then ended.
Also attached as Exhibit A is Brown's unaudited balance as of March 30, 2025, and its Statement of Operations for the 2 months ended on March 30, 2025.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to the 2025 Browns Chicken Franchise Disclosure Document, Browns Chicken includes both audited and unaudited financial statements in Exhibit A. Specifically, Browns Chicken provides an unaudited balance sheet as of March 30, 2025.
In addition to the unaudited balance sheet, Browns Chicken also provides an unaudited statement of operations for the two months ending March 30, 2025. The inclusion of an unaudited balance sheet gives prospective franchisees a more current snapshot of the company's financial position beyond the audited statements.
It is important to note that while the audited financial statements have been reviewed by an independent auditor, the unaudited statements have not undergone the same level of scrutiny. Therefore, prospective franchisees should carefully review both the audited and unaudited statements and consider seeking professional financial advice to fully understand the financial health of Browns Chicken.