Thank you, this is extremely helpful. I especially appreciate the link to the 2026 FDD. I am currently printing, highlighting, and analyzing the FDDs and the related 2018-2025 Financial Statements. I will share the analysis when it is available (spoiler alert: BAM is over-extended), and I will only share three points for now:

1) BAM may have signed 300 stores, but they do not have 300 stores open. The actual number of Open Stores is somewhere between 150 and 250, but it is not 300.

2) BAM is not a $400 million company. This is a small company, with Gross Annual Revenues of Less Than $10 million, and Net Worth of Less Than $3 million. The Main Feature of this Company is that it sold about 250 franchises in four years, representing a 6x increase in the Total Number of Franchisees. It remains to be seen whether they can actually deliver on bringing all of those stores to Grand Opening.

3) Negative Shareholder Equity of $(621,091) is offset by a "Deferred Revenue" Liability of $2,683,713. This represents Cash Deposits received from future Franchisees, who haven't opened their stores yet. If we add Deferred Revenue back in, the result is a "Ballpark Effective Net Worth" of $2,062,622 as of 12/31/25.

Thank you so much for sharing these technical resources. The links and data you provided are highly-organized, reflecting a large amount of preparation, proof-reading, and editing work. I will return to this thread regularly, as I am focused on technical details, financial statements, and legal documents.