Cash America 2011 Annual Report Download - page 63
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32
xanalysts’ estimates and other events in the consumer finance industry.
The market price for the Company’s common stock has varied between a high of $62.33 on September 20, 2011
and a low of $36.65 on January 4, 2011 in the twelve-month period ended December 31, 2011. The Company’s stock
price is likely to continue to be volatile and subject to significant price and volume fluctuations in response to market
and other factors, including the other factors discussed in “Risks Related to the Company’s Business and Industry,”
variations in the Company’s quarterly operating results from management’s expectations or those of securities analysts
or investors, downward revisions in securities analysts’ estimates and announcements by the Company or its competitors
of significant acquisitions, strategic partnerships, joint ventures or capital commitments.
In addition, the stock market in general may experience significant volatility that is unrelated to the operating
performance of companies whose shares are traded. These market fluctuations could adversely affect the trading price
of the Company’s common stock, regardless of the Company’s actual operating performance.
Future issuances of additional shares of the Company’s common stock could cause dilution of ownership interests
and adversely affect the Company’s stock price.
The Company may, in the future, issue its previously authorized and unissued shares of common stock,
including the potential issuance of shares of common stock upon conversion of the 2009 Convertible Notes (as more
fully described under “Item 8. Financial Statements and Supplementary Data—Note 11”), resulting in the dilution of the
ownership interests of the Company’s shareholders. The Company is currently authorized to issue up to 80,000,000
shares of common stock, par value $0.10 per share, and as of February 15, 2012 the Company had 29,356,829 shares of
common stock issued and outstanding. The potential issuance of additional shares of common stock may create
downward pressure on the trading price of the Company’s common stock. The Company may also issue additional
shares of its common stock or other securities that are convertible into or exercisable for common stock for capital-
raising or other business purposes. Future sales of substantial amounts of common stock, or the perception that sales
could occur, could have a material adverse effect on the price of the Company’s common stock.
ITEM 1B. UNRESOLVED STAFF COMMENTS
None.