factual

Where can I find the audited financial statements for Fat Shack mentioned in the FDD?

Fat_Shack Franchise · 2025 FDD

Answer from 2025 FDD Document

We have audited the financial statements of Fat Shack Inc. and Subsidiary, which comprises the balance sheet as of December 31, 2024, 2023 and 2022 and the related statement of operations, and changes in stockholders' equity, and cash flows for the years then ended, and the related notes to the financial statements.

In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the financial position of Fat Shack Inc. and Subsidiary as of December 31, 2024, 2023 and 2022 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.

Source: Item 21 — Financial Statements (FDD pages 52–53)

What This Means (2025 FDD)

According to the 2025 Fat Shack FDD, the audited financial statements for Fat Shack Inc. and Subsidiary, which include the balance sheets as of December 31, 2024, 2023, and 2022, along with the related statements of operations, changes in stockholders' equity, and cash flows for the years then ended, are included in the FDD. These statements are prepared in accordance with accounting principles generally accepted in the United States of America.

The financial statements are audited by Muhammad Zubairy, CPA PC. The auditor's report expresses an opinion on the fairness of the presentation of Fat Shack's financial position, results of operations, and cash flows. The audit is conducted in accordance with auditing standards generally accepted in the United States of America (GAAS). The auditor's responsibilities include obtaining reasonable assurance about whether the financial statements are free from material misstatement, whether due to fraud or error.

Management is responsible for the preparation and fair presentation of the financial statements and for evaluating Fat Shack's ability to continue as a going concern. The auditor's report includes an opinion on whether the financial statements present fairly the financial position of Fat Shack Inc. and Subsidiary as of December 31, 2024, 2023 and 2022 and the results of its operations and its cash flows for the years then ended.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.