Do the Epcon Communities financial statements include notes?

According to Epcon Communities' 2025 Franchise Disclosure Document, the financial statements include notes. The Independent Auditor's Report explicitly mentions that the audit includes "the related notes to the consolidated financial statements." These notes provide additional context and details about the financial figures presented in the statements.

The notes to the consolidated financial statements for the years ending December 31, 2024 and 2023, and December 31, 2023 and 2022, cover several key areas. These include the nature and scope of Epcon Communities' business, outlining that Epcon Communities Franchising, LLC franchises the right to develop, construct, and market single-story ranch-style units. The notes also detail the company's accounting policies, such as the principles of consolidation, use of estimates, and revenue recognition methods.

Furthermore, the notes address related party transactions, which involve administrative expenses charged by Epcon under an operating agreement. For instance, administrative charges for the years ended December 31, 2024 and 2023 were $804,741 and $533,475, respectively. The notes also cover commitments and contingencies, such as ongoing litigation cases, and management's assessment of their potential impact on the financial statements. Finally, the notes discuss subsequent events, with management evaluating events up to the date of the Independent Auditor's Report.