According to Note 7, what information is provided about Bumble Roofing?
Bumble_Roofing Franchise · 2025 FDDAnswer from 2025 FDD Document
RY OF SIGNIFICANT ACCOUNTING POLICIES
Principles of Consolidation and Presentation
The accompanying consolidated financial statements include the accounts of OLB Holdco and its wholly-owned subsidiaries listed below:
- Archadeck Franchisor, LLC ("Archadeck")
- OLB Supply Chain, LLC ("OLB Supply")
- Conserva Irrigation Franchisor, LLC ("Conserva")
- Outdoor Lighting Perspectives Franchisor, LLC ("OLP")
- Superior Fence and Rail Franchisor, LLC ("SFR") Formed on December 15, 2021 (Note 7).
- Superior Fence and Rail of North Florida, LLC ("SFR-NOFL") Acquired on December 15, 2021 (Note 7).
- Koala Insulation, LLC ("Koala") Acquired on April 13, 2023 (Note 7).
- Wallaby Windows Franchisor, LLC ("Wallaby") Formed on April 13, 2023 (Note 7).
- Wallaby Windows of Melbourne, LLC ("Wallaby-Melbourne") Acquired on April 13, 2023 (Note 7).
- Bumble Roofing Franchisor, LLC ("Bumble") Formed on May 1, 2023 (Note 7).
- Bumble Roofing of LA, LLC Acquired on May 1, 2023 (Note 7).
- Canopy Franchise Corporation ("Canopy") Acquired 60% on June 13, 2023 (Note 7).
- JJB Franchisor, LLC ("JJB") Formed to acquire Junk, Junk, Baby! Franchising, LLC and Junk, Junk Baby! IP, LLC on August 31, 2023. This entity was discontinued in 2024 (Note 7).
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Principles of Consolidation and Presentation (Continued)
The accompanying consolidated financial statements present the operations, equity and cash flows of OLB Holdco and its wholly-owned subsidiaries as of and for the years ending September 30, 2024, 2023, and 2022. Intercompany transactions and balances have been eliminated in consolidation.
The Company follows accounting standards set by the Financial Accounting Standards Board ("FASB").
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 53)
What This Means (2025 FDD)
According to the 2025 FDD, Note 7 provides information regarding the formation and acquisition of Bumble Roofing Franchisor, LLC ("Bumble") and Bumble Roofing of LA, LLC. Bumble Roofing Franchisor, LLC was formed on May 1, 2023. On the same date, the Company acquired Bumble Roofing of LA, LLC.
Additionally, Note 7 discusses the acquisition of Superior Fence & Rail and Canopy. On December 15, 2021, the Company acquired the assets of Superior Fence & Rail, Inc., Superior Fence & Rail Franchising, LLC, and Superior Fence & Rail of North Florida, Inc. On June 13, 2023, the Company entered into an equity purchase agreement with Canopy Franchise Corporation to acquire 60% of Canopy's outstanding equity.
These acquisitions and formations are part of OLB Holdco's strategy to expand its portfolio of franchise brands. The financial statements consolidate the accounts of these subsidiaries, reflecting their operations, equity, and cash flows.