Are the financial statements for Craters & Freighters audited?
Craters_Freighters Franchise · 2025 FDDAnswer from 2025 FDD Document
Attached to this Franchise Disclosure Document as Exhibit E are our audited financial statements as of December 31, 2024, December 31, 2023, and December 31, 2022. Our fiscal year end is December 31st . Also attached to this Franchise Disclosure Document as Exhibit E is our unaudited balance sheet and income statement as of February 28, 2025.
EXHIBIT E
Financial Statements
UNAUDITED FINANCIALS
THESE FINANCIAL STATEMENTS ARE PREPARED WITHOUT AN AUDIT.
PROSPECTIVE FRANCHISEES OR SELLERS OF FRANCHISES SHOULD BE ADVISED THAT NO CERTIFIED PUBLIC ACCOUNTANT HAS AUDITED THESE FIGURES OR EXPRESSED HIS / HER OPINION WITH REGARD TO THE CONTENT OR FORM
Craters & Freighters Franchise Company Balance Sheet
| As of February 28, | 2025 |
|---|---|
| Current Assets: | |
| Cash and Cash Equivalents | $ 4,726,421 |
| Marketable Securities - At Fair Market Value | 828,311 |
| Accounts Receivable | 645,690 |
| Other Current Assets | 254,918 |
| Total Current Assets | 6,455,340 |
| Property and Equipment - Net | 153,677 |
| Other Assets | 450,574 |
| TOTAL ASSETS | $ 7,059,591 |
| Current Liabilities: | |
| Accounts Payable | $ 218,691 |
| Other Current Liabilities | 118,295 |
| Total Current Liabilities | 336,986 |
| Shareholder's Equity | 6,722,605 |
| TOTAL LIABILITIES AND EQUITY | $ 7,059,591 |
**Craters & Freighters Franchise Compan
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 49)
What This Means (2025 FDD)
According to Craters & Freighters's 2025 Franchise Disclosure Document, the company provides audited financial statements. Specifically, the FDD includes audited financial statements as of December 31, 2024, December 31, 2023, and December 31, 2022. These audited statements are included as Exhibit E to the FDD.
An independent auditor's report is included, addressing the Board of Directors of Craters & Freighters Franchise Company in Golden, Colorado. The auditor states their opinion that the financial statements present fairly the financial position of Craters & Freighters Franchise 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.
However, the FDD also includes an unaudited balance sheet and income statement as of February 28, 2025. The document explicitly states that these financials are prepared without an audit and advises prospective franchisees that no certified public accountant has audited these figures or expressed an opinion on their content or form. This is a fairly common practice, as companies will often include more recent unaudited financials in addition to the required audited statements.