Last $3.75 USD
Change Today +0.75 / 25.00%
Volume 5.2K
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As of 8:10 PM 09/30/14 All times are local (Market data is delayed by at least 15 minutes).

western capital resources (WCRS) Snapshot

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07/15/14 - $4.50
52 Week Low
10/2/13 - $0.90
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western capital resources (WCRS) Details

Western Capital Resources, Inc., through its subsidiaries, operates retail cellular and retail pawn stores primarily in the Midwestern United States. It also provides retail financial services to individuals. The company operates in two segments, Cellular Retail and Consumer Finance. The Cellular Retail segment operates as a Cricket premier dealer selling cellular phones and accessories; and provides ancillary services, as well as accepts service payments from customers. This segment’s Cricket retail stores offer various products and services, such as Cricket wireless service plans; Muve Music, a text and data service; and Cricket wireless plan upgrades, including international calling minutes to Canada and/or Mexico, as well as roaming service packages and text messages. It also offers applications, such as customized ring tones, wallpapers, photos, greeting cards, games and news, and entertainment message deliveries on a prepaid basis; Cricket handsets; and Cricket broadband services. The Consumer Finance segment provides non-recourse cash advance and installment loans, collateralized non-recourse pawn loans, check cashing, and other money services; and operates retail pawn stores. As of March 31, 2014, the company operated 50 Payday stores, 1 payday/pawn store, and 1 pawn store in the states of Colorado, Iowa, Kansas, Nebraska, North Dakota, South Dakota, Utah, Wisconsin, and Wyoming, as well as operated 53 cellular retail stores in states of Arizona, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Missouri, Nebraska, Ohio, Oklahoma, Oregon, Texas, and Washington. The company is headquartered in Omaha, Nebraska.

western capital resources (WCRS) Top Compensated Officers

Chief Executive Officer, President, Chief Ope...
Total Annual Compensation: $323.3K
Chief Financial Officer and Principal Account...
Total Annual Compensation: $240.0K
Vice President of Wyoming Financial Lenders I...
Total Annual Compensation: $235.0K
Compensation as of Fiscal Year 2013.

western capital resources (WCRS) Key Developments

Western Capital Resources, Inc. Announces Auditor Changes

Effective as of April 16, 2013, the Audit Committee of the Board of Directors of Western Capital Resources, Inc. has terminated its independent registered public accounting firm, Lurie, Besikof, Lapidus & Company, L.L.P. The Audit Committee approved the decision to change the company's independent registered public accounting firm. Effective as of April 16, 2013, the Audit Committee of the Board of Directors of the company has engaged KLJ & Associates, LLP as its independent registered public accounting firm to audit the company's financial statements for the fiscal year ending December 31, 2013. The Audit Committee approved the appointment of KLJ & Associates, LLP to replace Lurie Besikof Lapidus and Company, LLP.

Western Capital Resources, Inc. Enters into an Amended and Restated Promissory Note with River City Equity

On December 10, 2012, Western Capital Resources, Inc. entered into an amended and restated promissory note with River City Equity, Inc. in the principal amount of $3,000,000. The amended and restated promissory note replaces and supersedes an earlier promissory note of the company, dated as of October 18, 2011, in favor of River City Equity and in the principal amount of $2,000,000. In connection with the amended and restated promissory note, the company received additional loan proceeds of $1,200,000 to ensure that it has capital sufficient to meet customer demand for payday and installment loans. Under the amended and restated promissory note, interest accrues on the principal amount at the per annum rate of 12%, with one balloon payment of principal and accrued interest due and payable on March 31, 2014. The amended and restated promissory note contains a prepayment penalty on the first $2,000,000 in prepaid principal. Any such prepayment penalty will be 2% of principal if made on or prior to September 30, 2013, or 1% of principal if made thereafter. As with the prior promissory note dated October 18, 2011, all obligations of the company under the amended and restated promissory note are secured pursuant to a security agreement dated as of October 18, 2011. In connection with the amended and restated promissory note, the company and River City entered into an amendment to security agreement on December 10, 2012 in order to account for the earlier satisfaction of all obligations owing to a senior secured lender, and to clarify the scope of property serving as collateral under the security agreement.

Western Capital Seeks Acquisitions

Western Capital Resources, Inc. is looking for acquisition opportunities. Western Capital expects that the gross proceeds from the rights offering will be approximately $4,500,000, and that our offering and related expenses will be approximately $100,000. We intend to use the net proceeds of the rights offering primarily to provide capital to grow our current business through acquisitions and to add new and complementary businesses. If, however, we are unable to identify suitable acquisition targets or are otherwise unable to consummate acquisitions, we may, in our sole discretion, choose to use the net proceeds for working capital and general corporate purposes.


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Price/Earnings 6.6x
Price/Sales 0.3x
Price/Book 0.5x
Price/Cash Flow 4.9x
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