What is the date of the report relating to the financial statements of C3 Wellness Spa?
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 the 2024 Franchise Disclosure Document, the financial statements for C3 Wellness Spa were available to be issued as of April 19, 2024. The report also mentions that management evaluated subsequent events through this date. The company did not have any material recognizable subsequent events that would require adjustment to, or disclosure in, the financial statements.
This date is important because it indicates how current the financial information is. Prospective franchisees should consider this date in relation to the date of the FDD itself to assess the timeliness of the financial data. Typically, an FDD includes audited financial statements from the franchisor's most recent fiscal year-end.
The evaluation of subsequent events is a standard accounting practice to identify any events occurring after the balance sheet date that could materially affect the financial statements. The disclosure that C3 Wellness Spa had no such events suggests a stable financial situation during that period. Franchisees should review the complete financial statements and notes for a comprehensive understanding of the franchisor's financial health.