Cash Store Financial Services Inc CSFS

Is it just done?

[soberinvestor]

Don.t you guys think that this company is done for investors? It has negative equity of 1.3 mln and if you add useless good will for me it has negative equity of 41 mln plus various litigations, high interest bonds, loans and you name it to the list of flops. A long time ago (when I bailed out at around 8/share) after they issued those in my opinon unnecessary 11.5% bonds I raised the issue of in my view sabotaging the company by either greed or willingness of some group to take it over for pennies on a dollar. 2 years or so later I stamped on it again, looking for year end tax loss sell-off deals and figured out they not only running high deficit but also they have negative shareholder's equity. In the old days it meant winding down the business and paying out creditors. Sure we live in challenging times ever since. What you guys thnik of it? Welcome unbiased opinions. Thanks

[Jackroy]

I don't think it is done.  I think they needed to clear out the rif raf so that they can change directions.  I got to think Reykdal will be out soon though

[insightfultruth]

They can start by changing their logo to red, would work nicely given their latest results. I disagree. These banker types have zero clue on what it taken to run a successful payday company. By nature, it's not an industry built on clear lines. That's why these stuffed shirts will never make it work. This is no bank and never will be. They are delusional to think they can make that happen

[mtm_wise]

TCS moved from a lender broker model to capitalizing the loan book on their balance sheet.  The so called third party lenders who have been given a sweet deal (returns of approximately 22% over the years with a guaranteed 20% from Reykdal) have been paid out, although this is a bone of contention with the Schiffner family (rightfully or wrongfully; who is to say).  Therefore the company

[Barneyrubble537]

What intel would you have to say that the third party lenders have been paid out?   I can tell you that is absolutely not true.  Unless you are referring to operating capital that they may have bilked from somewhere.  This lemonade stand welched on at least $105 MM of debt which essentially makes them a bigger version of deadbeats who don't repay loans.  Not a cent has been