What is the significance of the date on which the forward-looking statements about Ledgers are presented?
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, forward-looking statements are only relevant as of the date they are made. This means that any predictions, expectations, or beliefs about future events related to Ledgers' business operations, financial performance, or other factors are based on the information available at that specific point in time. A prospective franchisee should understand that these statements are not guarantees of future performance and are subject to change.
Because forward-looking statements are inherently uncertain, the FDD indicates that actual events or results could differ significantly from what is discussed in those statements. Various risks and uncertainties could cause these differences, including factors such as the loss of key personnel, accounting issues, failure to engage an independent accounting firm, adverse effects from stock delisting, and potential litigation. These factors could materially impact Ledgers' ability to achieve its projected outcomes.
The FDD explicitly cautions potential franchisees not to place undue reliance on these forward-looking statements. Instead, it advises them to consult Ledgers' most recent Annual Report on Form 10-K and other filings with the SEC for a more comprehensive understanding of the risks and uncertainties that may affect the company's business and the value of its securities. This encourages franchisees to conduct their own due diligence and seek additional information beyond the forward-looking statements presented in the FDD.
Ledgers also states that it does not have any obligation to update these forward-looking statements, regardless of new information, future events, or other changes. This lack of commitment to updating the statements further emphasizes the importance of considering the date on which they were made and seeking the most current information available from Ledgers and other reliable sources before making any investment decisions.