Does Zoomin Groomin undertake any duty to update any forward-looking statements?
Zoomin_Groomin 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 forward-looking 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 infings 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 8 — 01. Other Events. (FDD pages 67–68)
What This Means (2025 FDD)
According to Zoomin Groomin's 2025 Franchise Disclosure Document, the company does not commit to updating forward-looking statements. The FDD includes a section on forward-looking statements, which are expectations or predictions about potential impacts related to events like accounting reviews, audits, and engaging with independent accounting firms. These statements are based on the company management's current expectations and assumptions. However, there is no guarantee that these expectations will be accurate.
Because these forward-looking statements involve risks and uncertainties, actual events or results may significantly differ from what is discussed in those statements. These differences could arise from various factors, such as the loss of key personnel, the inability to address accounting matters, the identification of material weaknesses, disagreements with auditors, failure to complete audits, adverse effects from stock delisting, and costs related to litigation.
The FDD cautions potential investors not to rely too heavily on these forward-looking statements and advises them to consult Zoomin Groomin's most recent Annual Report on Form 10-K and other filings with the SEC for a more detailed understanding of the risks and uncertainties associated with the company's business and securities ownership. Zoomin Groomin explicitly states that it is presenting these forward-looking statements as of the date they are made and does not commit to updating them, regardless of new information or future events.
This lack of commitment to update forward-looking statements means that prospective franchisees should be aware that the information provided may become outdated. It is crucial to conduct thorough due diligence and seek current information from Zoomin Groomin and other reliable sources before making any investment decisions. Prospective franchisees should also consider consulting with financial and legal advisors to assess the risks and potential rewards of investing in a Zoomin Groomin franchise.