XML 19 R25.htm IDEA: XBRL DOCUMENT v2.4.0.6
Note 18 - Subsequent Event
12 Months Ended
Dec. 31, 2011
Subsequent Events  
Schedule of Subsequent Events [Table Text Block]

 

NOTE 18 - SUBSEQUENT EVENT

 

Consistent with the Company’s strategy to continue its expansion of pawn stores in selected markets, in January 2012, the Company acquired the operating entity owning the pawn loans, inventory, layaways and other operating assets and liabilities of 29 pawn stores located in western Mexico from BBR Unlimited, LLC. The purchase price for these stores was $46,700,000, net of cash acquired, and was composed of $41,800,000 in cash and a note payable to the seller of $4,900,000. The Company is in the process of determining the allocation of the purchase price to the assets and liabilities acquired. This transaction will be recorded in the first quarter of 2012 and the assets, liabilities and results of operations of the locations will be included in the Company’s consolidated results as of the acquisition on January 10, 2012. Pro forma results of consolidated operations have not been presented because the acquisition was not significant in relation to the Company’s consolidated financial position or results of operations.