Up to what date did Cicis evaluate events and transactions for potential recognition or disclosures in preparing the combined financial statements?
Cicis Franchise · 2025 FDDAnswer from 2025 FDD Document
In preparing these combined financial statements, the Company has evaluated events and transactions for potential recognition or disclosures through April 25, 2025, which was the date the combined financial statements were available to be issued. There are no items which required adjustment or disclosure in the accompanying combined financial statements.
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 company evaluated events and transactions through April 25, 2025, for potential recognition or disclosures in the combined financial statements. This date represents the cutoff point for considering events that might require adjustment or disclosure in the financial statements.
This evaluation is a standard accounting practice to ensure that the financial statements reflect the most current and accurate information available. By setting this date, Cicis aims to capture any significant events that occurred after the balance sheet date (December 31, 2023) but before the financial statements were issued.
The FDD states that there were no items identified during this subsequent event review that required adjustment or disclosure in the accompanying combined financial statements. This means that Cicis determined no events occurred between December 31, 2023, and April 25, 2025, that would materially impact the accuracy or completeness of the financial statements.