Where can I find Desi District's audited opening balance sheet?
Desi_District Franchise · 2024 FDDAnswer from 2024 FDD Document
| We have not been in business for three years or more, and therefore cannot include | |
|---|---|
| all financial statements required by the Franchise Rule of the Federal Trade Commission. | |
| Exhibit F contains our audited opening balance sheet dated 6/15/2024. Our fiscal year end is | |
| December 31. |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 52)
What This Means (2024 FDD)
According to Desi District's 2024 Franchise Disclosure Document, because the company has not been in business for three years or more, it cannot include all financial statements required by the Franchise Rule of the Federal Trade Commission. The audited opening balance sheet dated June 15, 2024, is included in Exhibit F.
As a new franchise system, Desi District is providing the required financial statements to give prospective franchisees an understanding of the company's current financial status. The balance sheet will show the company's assets, liabilities, and equity as of June 15, 2024.
Exhibit F is a standard location within the FDD to find the financial statements. Prospective franchisees should carefully review the balance sheet and consult with a financial advisor to understand the implications of Desi District's financial position.