When were the consolidated financial statements available to be issued for Cool Binz?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
We will prepare on an annual basis, within 120 days of the end of the fiscal year, and make available to you upon written request, a statement of contributions and expenditures for the Brand Marketing Fund. The Brand Marketing Fund does not have to be independently audited.
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, Cool Binz will prepare on an annual basis, within 120 days of the end of the fiscal year, and make available to franchisees upon written request, a statement of contributions and expenditures for the Brand Marketing Fund. Cool Binz's fiscal year must end on December 31.
This means that Cool Binz aims to have the statement of contributions and expenditures for the Brand Marketing Fund available to franchisees by April 30th of the following year, assuming the fiscal year ends on December 31st. However, the FDD states that the Brand Marketing Fund does not have to be independently audited.
It is important to note that this statement pertains specifically to the Brand Marketing Fund. The FDD does not specify a date for when the consolidated financial statements are available to be issued.