The text appears to be part of a legal disclaimer related to franchising and franchise sales in various states across the United States.

Here's a breakdown of some key points:

1. The first sentence specifically mentions that these franchises have been registered under the Franchise Investment Law of California, but it also notes that this registration does not necessarily imply approval by any state regulatory body.

2. There is an additional disclaimer for New York State residents: This advertisement or promotion is not an offering of a franchise in New York State to anyone who may be considered as residing in New York City with the exception of certain types of business opportunities.

3. The text also mentions that these franchises are registered under different state laws and regulations, including Alaska (F-4953), Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota (File No.), Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin.

4. It further clarifies that the offer of a franchise is made only in these states and in any other state where such an offering has been exempted under applicable law.

5. The disclaimer also mentions some states which currently do not regulate or have specific requirements for selling franchises within their borders (e.g., California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota).

6. Lastly, it emphasizes that this information is intended only as a general description of the franchise opportunities and should not be considered an offer to sell any product or service in states where such offers are still subject to current registration requirements.

Overall, these disclaimers are likely included to comply with various state laws and regulations regarding franchising and the sale of franchises within different jurisdictions.

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