Through what date has the management of C3 Wellness Spa evaluated subsequent events for the financial statements?
C3_Wellness_Spa Franchise · 2024 FDDAnswer from 2024 FDD Document
Management has evaluated subsequent events through April 19, 2024, which is the date the financial statements were available to be issued. The Company did not have any material recognizable subsequent events that would require adjustment to, or disclosure in, the financial statements.
Source: Item 23 — RECEIPTS (FDD pages 59–293)
What This Means (2024 FDD)
According to C3 Wellness Spa's 2024 Franchise Disclosure Document, management evaluated subsequent events through April 19, 2024. This date represents when the financial statements were available to be issued. The company has stated that there were no material recognizable subsequent events that would require adjustment to, or disclosure in, the financial statements.
This evaluation is a standard accounting practice. It ensures that any significant events occurring after the balance sheet date (December 31, 2023, in this case) but before the financial statements are released are properly considered. These events could materially impact the company's financial position or performance.
For a prospective C3 Wellness Spa franchisee, this means that the financial information presented in the FDD reflects all known material events up to April 19, 2024. This gives the franchisee a more complete and up-to-date picture of the company's financial status when making their investment decision.