Xponential Inc (fka XPOI)

[mrpanick]

The 8% bonds are due Dec 31 2014 (which is in fiscal 2015 which caused me some confusion) which means the co has exactly 3 years to turn Pawnmart profitable enough to refi or sell for more than debt owed. The credit line was increased and extended until 2013. Current liquidity was about 2.3 mil as of june 2011 including cash and availability on the credit line. Additional cash is coming from CPFH. Pawn loans were up which is also an indication of an improved workng capital situation.

It looks to me like they have enough time and liquidity to succeed. No guarantee that they can do it, but they seem to at least have the opportunity. Most companies trading at this level are corpses that just haven't been buried yet.

Advertising spending increased about 200k as compared to the prior year. Revenues up 10%. 3 new locations added in the past couple of years. Strategy definitely appears to be growth.