Does the Spray Net FDD contain financial statements for years prior to 2021?
Spray_Net Franchise · 2025 FDDAnswer from 2025 FDD Document
We have audited the financial statements of Spray-Net, Inc., 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 Spray-Net, Inc. 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 page 75)
What This Means (2025 FDD)
According to Spray Net's 2025 Franchise Disclosure Document, the financial statements included cover the fiscal years 2022, 2023, and 2024. The independent auditor's report confirms that the audit encompasses the balance sheets as of December 31 for each of these years, along with statements of operations, changes in stockholders' equity, and cash flows for the years then ended.
Therefore, the Spray Net FDD does not include financial statements for years prior to 2022. Franchisees reviewing this document will only be able to analyze Spray Net's financial performance for these three most recent years.
Prospective franchisees who want to understand Spray Net's longer-term financial history should consider asking the franchisor for additional financial information or clarification during their due diligence process. This will help them assess the financial stability and performance trends of Spray Net over a more extended period.