Through what date were subsequent events evaluated for Crave Cookies Franchising, LLC's financial statements?
Crave_Cookies Franchise · 2025 FDDAnswer from 2025 FDD Document
Note 9 - Subsequent Events
Subsequent events have been evaluated through April 30, 2025, which is the date the financial statements were available to be issued.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 47)
What This Means (2025 FDD)
According to Crave Cookies' 2025 Franchise Disclosure Document, subsequent events relating to the company's financial statements were evaluated through April 30, 2025. This means that the company's management and auditors considered events that occurred after the balance sheet date (December 31, 2024) up to April 30, 2025, to determine if any of these events would materially affect the company's financial position or require disclosure in the financial statements.
For a prospective Crave Cookies franchisee, this date is important because it provides a timeframe for understanding what information is included in the financial statements. Any significant events, such as major litigation, a large new franchise agreement, or significant economic changes, that occurred after December 31, 2024, but before April 30, 2025, should be disclosed in the notes to the financial statements if they are deemed material.
It is typical accounting practice to evaluate subsequent events to provide a more complete picture of a company's financial health. Franchisees should review these notes carefully to understand any potential impacts on Crave Cookies' financial stability, which could indirectly affect their own franchise operations. This also gives potential franchisees a sense of how current the provided financial information is.