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  • don_t_panick don_t_panick Mar 19, 2013 8:52 AM Flag

    xponential inc annual meeting and proxy vote

    Etrade sent me electronic proxy ballots to vote my XPOI shares. The annual meeting is 4/12/13. As of today, the xpoi web site still has financials only through March 2012. I believe that Pawnmart is rebounding, but you guys really need to get your act together and put out some financials on your web site or send to shareholders.

    Shame on you - Jeff Cummer. As a registered financial advisor and chairman of this POS, you should know better than to send shareholders a proxy and ask them to vote for Directors without bothering to send them financials.

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    • The proxy correspondence from etrade has a link to a proxy statement ,but the link doesn't work. Is it blank because the company didn't bother to provide one or because they just messed up and provided a bad link?

      Either way this is unacceptable. The financials belong on your web site. Your stock is bid at 6 cents even though your company has turned profitable (as of Q1 2012 and more profitable in recent quarters I suspect) because no up to date info is on your web site for potential investors. I voted my shares no on all proposals and recommend that other shareholders vote "no" on all proposals until updated financials are posted to the company web site.

      • 1 Reply to don_t_panick
      • My proxy material has a letter and june 30 12 financials. Net loss 634k for the year.
        March 8, 2013
        Dear Stockholders,
        Enclosed are the audited consolidated financial statements for the fiscal year ended June 30, 2012 for
        Xponential, Inc. and its subsidiaries (“Xponential” or the “Company”). The current year financial
        statements no longer contain the “going concern” opinion by our independent auditors as was
        included in our audited financial statements for the prior three fiscal years. This is clear evidence
        that the Company’s efforts over the past several years have resulted in an improving financial
        position for the Company.
        The operations of PawnMart, Inc. (“PawnMart”), our wholly-owned subsidiary, continued to
        improve as we grew our store base. We reported last year that we were aggressively pursuing store
        additions. Over the past year and a half we have grown our store base from 25 to 34 stores.
        Revenues, earnings and outstanding pawn loans have increased significantly for the fourth
        consecutive year.
        For fiscal year 2012, Xponential reported a net loss of $579,000, but operating income increased
        from $1.9 million in fiscal 2011 to $2.8 million this year. Our interest expense increased by
        $636,000 over the prior year as we financed our growth utilizing available lines of credit and other
        term financing.
        Debt financing was used to purchase existing stores and to open five new stores to continue the
        Company’s efforts to fill out our dominant footprint in Georgia. We invested $2.8 million in capital
        expenditures in fiscal 2012 to upgrade and expand existing stores and to open new stores. Our
        decision to finance the investments with debt is based on our strong cash flow and our intent to
        increase enterprise value for our existing shareholders.

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