Are the Dryject financial statements prepared by an independent auditor?
Dryject Franchise · 2025 FDDAnswer from 2025 FDD Document
CERTIFIED PUBLIC ACCOUNTANT 2300 STATE ROUTE 66, SUITE 202 NEPTUNE, NEW JERSEY 07753
Phone: 732-869-1170 Fax: 732-869-1130 www.rogersteincpa.com
MEMBER: NEW JERSEY SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS LICENSED NEW JERSEY & NEW YORK
INDEPENDENT AUDITOR'S REPORT
TO: DRYJECT MANAGEMENT, LLC HATBORO, PENNSYLVANIA
Opinion
I have audited the accompanying financial statements of DryJect Management, LLC (a single member LLC), which comprise the balance sheets as of December 31, 2024 and 2023, and the related statements of income and member's capital, and cash flows for the years then ended, and the related notes to the financial statements.
In my opinion, the financial statements referred to above present fairly, in all material respects, the financial position of DryJect Management, LLC 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.
Basis for Opinion
I conducted my audit in accordance with auditing standards generally accepted in the United States of America. My responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of my report. I am required to be independent of DryJect Management, LLC and to meet my other ethical responsibilities in accordance with the relevant ethical requirements relating to my audit. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit opinion.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about DryJect Management, LLC's ability to continue as a going concern within one year after the date that the financial statements are available to be issued.
Auditor's Responsibilities for the Audit of the Financial Statements
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 49)
What This Means (2025 FDD)
According to Dryject's 2025 Franchise Disclosure Document, the company's financial statements are indeed audited by an independent auditor. The auditor's report included in the FDD explicitly states their independence and their opinion on the fairness of Dryject's financial statements. This indicates that a qualified and unbiased professional has reviewed Dryject's financial records. The auditor, Roger K. Stein, CPA LLC, is a member of the New Jersey Society of Certified Public Accountants and is licensed in New Jersey and New York. The auditor's address is 2300 State Route 66, Suite 202 Neptune, New Jersey 07753. Their phone number is 732-869-1170 and their fax number is 732-869-1130. Their website is www.rogersteincpa.com.
The inclusion of an independent auditor's report is a standard practice in franchising and provides potential franchisees with a higher level of confidence in the financial information presented. The report covers the balance sheets, statements of income and member's capital, and cash flows for the specified years. The auditor's opinion confirms whether these statements present fairly the financial position, results of operations, and cash flows of Dryject in accordance with accounting principles generally accepted in the United States of America.
The auditor's responsibilities include obtaining reasonable assurance that the financial statements are free from material misstatement, whether due to fraud or error, and issuing a report that includes their opinion. They also discuss their responsibility to maintain professional skepticism throughout the audit, assess the risks of material misstatement, and evaluate the appropriateness of accounting policies used by Dryject. This comprehensive audit process aims to provide an objective and reliable assessment of Dryject's financial health.
For a prospective Dryject franchisee, the presence of an independent audit adds credibility to the financial information provided in the FDD. It suggests that Dryject is committed to transparency and accountability in its financial reporting. However, franchisees should still carefully review the financial statements and consult with their own financial advisors to fully understand the financial condition of Dryject and assess the risks and opportunities associated with investing in the franchise.