Admittedly the Yahoo Finance figures will be stale but assets must have taken a huge hit this past quarter for this to be happening. Either that or nothing but losses as far as the eye can see into the future.
"The (Audit) committee considered that the Company's EBITDA performance over the past year has been adversely affected by factors beyond management's control (specifically, the continued challenging gold environment) and the Company's decision to invest in future growth opportunities, and noted that the need to formulate and execute strategic plans to address and adapt to those continuing challenges created a continuing, if not enhanced, need for the unique expertise and services provided by Madison Park."
I never understand why if the company does badly it's due to factors outside Management control and yet when things go well it's because of the genius of Management in positioning the company.
Surely Management has misread the tealeaves in making strategic decisions that resulted in poor EZPW performance and as such should hold their hands up to making a mistake. Instead the Audit committee seems to be saying that Management made strategic decisions that have put the company in a bad position which has made it even more crucial that incumbent Management be retained and compensated at the top end of possible range.
"Item 1.01 - Entry into a Material Definitive Agreement
On October 9, 2013, EZCORP, Inc. (the "Company"), and Madison Park, LLC ("Madison Park"), a business and financial advisory firm wholly-owned by Phillip E. Cohen, the beneficial owner of all of the Company's outstanding Class B Voting Common Stock, agreed to extend the Company's engagement of Madison Park for an additional year (through September 30, 2014) on the same terms and conditions (including those relating to fees and expenses) as applicable to the fiscal 2013 engagement..............In exchange for those services, the Company will continue to pay Madison Park a retainer fee of $600,000 per month and will reimburse Madison Park for its out-of-pocket expenses incurred in connection with the engagement. "