What document is recommended to consult for additional risks and uncertainties related to Ledgers' business?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
This report contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, which provides a "safe harbor" for such statements in certain circumstances. The forwardlooking statements include statements or expectations regarding potential impacts of KPMG's resignation, ability and timing to complete the accounting review and audits, comprehensiveness of the Company's accounting review and ability to engage an independent accounting firm and related matters. These statements are based upon current expectations, estimates, projections, beliefs and assumptions of Company management, and there can be no assurance that such expectations will prove to be correct. Because forward-looking statements involve risks and uncertainties and speak only as of the date on which they are made, actual events or results could differ materially from those discussed in the forward-looking statements as a result of various factors, including but not limited to loss of key personnel or inability to engage accounting personnel as needed; inability to address the previously disclosed accounting matters; identification of additional material weaknesses or significant deficiencies; disagreements or additional reportable events that KPMG may identify in a letter addressed to the SEC pursuant to Item 304 of Regulation S-K; failure to engage an independent accounting firm, complete the audits and re-audits and file any required restatements and periodic reports; adverse effects resulting from the Company's common stock being delisted from the Nasdaq Stock Market LLC; risks relating to the substantial costs and diversion of personnel's attention and resources due to these matters and related litigation and other factors discussed in greater detail in the Company's filings with the SEC. You are cautioned not to place undue reliance on such statements and to consult the Company's most recent Annual Report on Form 10-K and other SEC filings for additional risks and uncertainties that may apply to the Company's business and the ownership of the Company's securities. The Company's forward-looking statements are presented as of the date made, and the Company does not undertake any duty to update any forward-looking statements, whether as a result of new information, future events, or otherwise.
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to Ledgers's 2025 Franchise Disclosure Document, it is recommended that prospective franchisees consult the company's most recent Annual Report on Form 10-K and other SEC filings for a more detailed understanding of the risks and uncertainties associated with the company's business and the ownership of its securities. This recommendation is made because forward-looking statements, which are included in the report, involve inherent risks and uncertainties. These risks and uncertainties could cause actual events or results to differ significantly from those discussed in the forward-looking statements.
The FDD highlights several factors that could contribute to these differences, including the loss of key personnel, the inability to address previously disclosed accounting matters, the identification of additional material weaknesses or significant deficiencies, and potential disagreements with the company's former accounting firm, KPMG. Furthermore, the inability to engage an independent accounting firm, complete audits and re-audits, and file required restatements and periodic reports could also have adverse effects. The potential delisting of the company's common stock from the Nasdaq Stock Market LLC and the substantial costs and diversion of personnel's attention and resources due to these matters and related litigation are also significant risks.
Ledgers cautions potential franchisees not to place undue reliance on forward-looking statements. The company does not undertake any duty to update these statements, regardless of new information or future events. This means that the information provided in the forward-looking statements is current only as of the date it was made, and there is no guarantee that it will remain accurate or relevant in the future. Therefore, consulting the most recent Annual Report on Form 10-K and other SEC filings is crucial for staying informed about the latest risks and uncertainties that may affect Ledgers' business and the value of its securities.
For a prospective franchisee, this means conducting thorough due diligence by reviewing these recommended documents. Understanding these risks is essential for making an informed decision about investing in a Ledgers franchise. It is also advisable to seek professional financial and legal advice to assess the potential impact of these risks on your investment.