What is the issuance date of the City Publications disclosure document referenced in Item 23?

According to City Publications' 2025 Franchise Disclosure Document, the issuance date of the disclosure document is April 20, 2025. This date is important because City Publications must provide the disclosure document to a prospective franchisee at least 14 calendar days before they sign a binding agreement or make any payment to City Publications or its affiliates related to the franchise sale.

Furthermore, New York state law has specific requirements, mandating that City Publications deliver the FDD earlier of either the first personal meeting or 10 business days before the execution of any agreement or payment of consideration related to the franchise relationship.

It is also important to note that if City Publications does not deliver the disclosure document on time, or if the document contains false, misleading, or omits material information, it could be a violation of federal and state laws. This should be reported to the Federal Trade Commission and the relevant state agency.