Up to what date did Buona evaluate subsequent events for their financial statements?

According to Buona's 2025 Franchise Disclosure Document, the company evaluated subsequent events through April 14, 2025. This evaluation, conducted in accordance with FASB ASC Paragraph 855 Subsequent Events, considered events that occurred after the balance sheet date but before the financial statements were available to be issued. The purpose of this review is to determine if any of these events require recognition or additional disclosure in the financial statements.

For a prospective Buona franchisee, this date is important because it indicates the latest point in time that Buona considered events that could materially impact the company's financial position. Subsequent events can include things like a major lawsuit, a significant change in the market, or a large new contract. If such events occurred and were deemed material, they would need to be disclosed in the financial statements to provide a complete and accurate picture of the company's financial health.

The FDD states that no material subsequent events were identified that required recognition or additional disclosure. This suggests that, as of April 14, 2025, Buona was not aware of any events that would significantly alter the financial picture presented in its financial statements. Franchisees should note that this evaluation is a standard accounting practice, and the absence of disclosed subsequent events does not guarantee that no risks or uncertainties exist, but it does provide some assurance that the financial statements reflect the most up-to-date information available at the time.

It's worth noting that the 2024 FDD evaluated subsequent events through April 19, 2024. The subsequent event evaluation period in the FDD is updated annually to reflect the most recent audit and financial statement preparation timeline. Prospective franchisees should always review the most recent FDD to understand the latest evaluation date and any disclosed subsequent events.