Are the forward-looking statements regarding Ledgers based on current expectations or guarantees of future performance?
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' 2025 Franchise Disclosure Document, the forward-looking statements included are based on the company management's current expectations, estimates, projections, beliefs, and assumptions. The FDD states explicitly that there is no assurance that these expectations will prove correct. This means that Ledgers is providing its best assessment of future possibilities but is not guaranteeing any specific outcomes. Prospective franchisees should understand that actual results may differ materially from these forward-looking statements.
The FDD highlights that forward-looking statements involve risks and uncertainties and are only relevant as of the date they are made. Various factors could cause actual events or results to differ, including the loss of key personnel, inability to address accounting matters, identification of additional material weaknesses, disagreements with accounting firms, failure to complete audits, adverse effects from stock delisting, and risks related to costs and diversion of resources. Ledgers explicitly cautions potential investors not to place undue reliance on these statements.
Ledgers also states it does not undertake any duty to update these forward-looking statements, whether due to new information, future events, or other factors. This lack of commitment to updating the statements means that the information may become outdated quickly. Therefore, potential franchisees should not consider these statements as guarantees of future performance but rather as current assessments that are subject to change and uncertainty. It is advisable to consult Ledgers' most recent Annual Report on Form 10-K and other SEC filings for additional risks and uncertainties.