As of what dates did the financial statements present the financial position of the Cicis affiliate, On Smile LLC?
Cicis Franchise · 2025 FDDAnswer from 2025 FDD Document
Opinion
We have audited the combined financial statements of On Smile LLC and combined affiliate (collectively, the Company), which comprise the combined balance sheets as of December 31, 2024 and 2023, the related combined statements of income, changes in members' capital and cash flows for the years then ended, and the related notes to the combined financial statements (collectively, the financial statements).
In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for the years then ended, in accordance with accounting principles generally accepted in the United States of America.
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 58–64)
What This Means (2025 FDD)
According to Cicis's 2025 Franchise Disclosure Document, the combined balance sheets within the financial statements present the financial position of On Smile LLC as of December 31, 2024 and 2023. The financial statements also include the combined statements of income, changes in members' capital, and cash flows for the years then ended.
An independent auditor has audited these combined financial statements, offering an opinion on their accuracy and adherence to accounting principles generally accepted in the United States of America. This audit provides a level of assurance to potential Cicis franchisees regarding the financial health and reporting practices of On Smile LLC.
Prospective franchisees should review these financial statements and the auditor's opinion carefully to understand Cicis's financial standing. Understanding the revenues, expenses, assets, and liabilities of On Smile LLC can help franchisees assess the financial stability of the franchisor and make informed decisions.