According to Cordova's 2025 Franchise Disclosure Document, the balance sheet provided is unaudited, which means it has not been independently verified by a Certified Public Accountant. Prospective franchisees should be aware that no CPA has audited these figures or expressed an opinion on their accuracy or form. This lack of independent verification introduces a higher risk of inaccuracies or misstatements in the financial information presented.

An unaudited balance sheet relies on the representations of Cordova's management, without the assurance of an external audit. While the balance sheet shows assets of $10,000, comprised of $10,000 in cash, and equity of $10,000, consisting of $1,000 in capital stock and $9,000 in owner's equity, the accuracy of these figures has not been confirmed by an independent party. This means potential franchisees must place a greater degree of trust in the franchisor's internal accounting practices.

Given that the financial statements are unaudited, prospective Cordova franchisees should exercise caution and consider seeking professional financial advice to evaluate the franchisor's financial condition. It would be prudent to have an accountant review the statements and ask Cordova for supporting documentation to gain more confidence in the financial data. This is especially important when making a significant investment in a franchise.