For Jersey Mikes, on what pages of the FDD can I find the Notes to Financial Statements?

SH EQUIVALENTS, AND RESTRICTED CASH | 13,127,729 | 11,267,928 | 9,279,401 | | Beginning of year | | | | | End of year | $ 8,869,057 | $ 13,127,729 | $ 11,267,928 |

NOTES TO FINANCIAL STATEMENTS AS OF DECEMBER 31, 2024 AND 2023, AND FOR THE YEARS ENDED DECEMBER 31, 2024, 2023, AND 2022

1. DESCRIPTION OF BUSINESS AND NATURE OF OPERATIONS

Description of Business—A Sub Above, LLC (the "Company" or "Franchisor") was formed as a Delaware limited liability company as a result of the initial 2019 Securitization Transaction, which is further described in Note 3—Securitization Transactions. The Company is a direct, wholly owned subsidiary of Jersey Mike's Funding, LLC (the "Master Issuer" or the "Member"), which is a direct, wholly owned subsidiary of JM SPV Guarantor, LLC, which is a direct, wholly owned subsidiary of Jersey Mike's Franchise Systems, LLC (the "Parent" or "Manager") (previously Jersey Mike's Franchise Systems, Inc). The Company is primarily engaged in the business of franchising the Jersey Mike's submarine sandwich restaurants, a fast casual restaurant concept. The Company franchises the trademarks, trade names, service marks, logos, marketing concepts, and marketing programs, which are the basic attributes of the franchised operations.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Significant accounting policies followed by the Company in the preparation of the accompanying financial statements are summarized below:

Basis of Presentation—The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. The accompanying financial statements includes all accounts of the Company, which has no subsidiaries.

Use of Estimates—The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Cash and Cash Equivalents—Cash includes balances on deposit at US banks. Highly liquid investments purchased with an original maturity of three months or less are considered cash equivalents. As of December 31, 2024 and 2023 there were approximately $0 and $5,300,000 in cash equivalents, respectively.

Restricted Cash—Restricted cash represents amounts held to meet certain reserve requirements in conjunction with the Securitization Transactions described in Note 3. In addition to those funds, the Company collects cash on behalf of the franchisees and various marketing cooperatives created throughout the country. These funds are transferred to the Manager on a weekly basis.

Accounts Receivable—Accounts receivable represent royalty receivables due from franchisees. Accounts are written off as uncollectible after management reviews the specific circumstances related to each account. As of December 31, 2024 and 2023, management has not deemed a reserve necessary.

Intangible Assets—Intangible assets subject to amortization include area service agreements, trademark, internally developed external-use software, and website design. The Company capitalizes the costs of software developed for external use and website design when the preliminary project stage is completed and management (i) commits to funding the project and (ii) believes it is probable that the project will be completed and the software and website design will be used to perform the function intended.

Source: Item 22 — CONTRACTS (FDD page 77)