Besides the audited statements, what other financial information is included in Exhibit D for Carbones Pizzeria?

According to the 2025 Carbones Pizzeria FDD, Exhibit D includes the audited financial statements for the fiscal years ended October 31, 2024, October 31, 2023, and October 31, 2022. In addition to these audited statements, Carbones Pizzeria also includes its Balance Sheet and Income Statement as of and for the 4-month period ended February 28, 2025.

It is important to note that the financial statements as of and for the 4-month period ending February 28, 2025, are not audited. The FDD explicitly advises prospective franchisees that no certified public accountant has audited these figures or expressed an opinion regarding their contents and form. This means that while this information is provided, it has not been independently verified and may be subject to change or adjustment.

For a prospective Carbones Pizzeria franchisee, this means they have access to both audited historical financial data and more recent, unaudited financial information. While the audited statements provide a reliable view of the company's past performance over three years, the unaudited balance sheet and income statement offer a more current snapshot of the company's financial position and recent performance. However, franchisees should exercise caution when interpreting the unaudited statements due to the lack of independent verification. It would be prudent to discuss these statements with a financial advisor to fully understand their implications.