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Microcap & Penny Stocks : General Stores - GSIC -- Ignore unavailable to you. Want to Upgrade?

To: Steven Finkel who wrote (745)	5/29/1999 11:39:00 PM
From: EZ ED	Read Replies (2) \| Respond to of 972

III. KNOW WHAT A UFOC IS The franchisor is required to give you a Uniform Franchise Offering Circular ("UFOC" or "Offering Circular"). Their document tells you all about the business you are considering. The franchisor must give you a UFOC at least ten business days before you either sign a contract or pay money to the franchisor. The only documents you should sign initially are the "Acknowledgment of Receipt" page (Item 23 of the UFOC) or other receipts showing you received particular documents. Notify the Attorney General if you do not receive the UFOC before salespeople started trying to sell you their franchise. The Federal Trade Commission (FTC) also requires that you receive copies of the documents you are to sign at least five business days before signing them and the FTC Franchise Rule requires that you receive a UFOC (or FTC format disclosure) at your first personal meeting with the franchisor representative. The UFOC is a vital document for you and your professional advisors to read thoroughly. It has 23 "Items" that will provide many of the answers to the questions below and because these UFOC reports are "uniform" it will be easier to compare franchises. A UFOC Table of Contents will look like this: TABLE OF CONTENTS Franchisor / Predecessor / Affiliate Business Experience Litigation Bankruptcy Initial Franchise Fee Other Fees Initial Investments Restricted Product / Services Sources Franchisee's Obligations Financing Franchisor's Obligations Territory Trademarks Patents / Copyright Management Requirements What Franchise May Sell Renewal / Termination / Disputes Public Figures Earnings Claims List of Outlets Financial Statements Contracts Receipt This is the requirements for IL.(could not find WA)If I am reading this right you must file in each state and it must include a FINANCIAL STATEMENT(may be why it took so long?)Will dig deeper next week.