Randy Underwood: We are expecting about 20 to 25 stores in the UK over the next 12 months.

Richard Eckert (Roth Capital Partners): Do you expect any and all new additions in the states to be via acquisition?

Jeffrey A Weiss: That is too broad a statement. We have traditionally grown our store base in the US through acquisitions for a host of reasons – the US is competitive, it is stored the opportunity to add in all our markets, mom-and-pop acquisitions, approximate to where we are doing business is true and that has been an effective way of growing in the US, but we have modestly refreshed our US store base by moving stores, for example, when an anchor tenant leaves his shopping centre. We have some modest US store development in the four to eight store range, de novo store development, essentially following our customs.

Richard Eckert (Roth Capital Partners): Would you consider using the internet to complement your store based lending platforms in both the UK and Canada?

Jeffrey A Weiss: Yes.

Daniel Smith (Teton Capital): In the US you are comping negative because of the switch from two company funded loans. When are you going to have a fair comparison for that?

Randy Underwood: It would be a couple of quarters before we have a fair comparison. We are going through the transition, we began in fourth quarter of 2007; we are going through the completion of that now. It will be in the latter part of this fiscal year, fourth quarter.

Daniel Smith (Teton Capital): You have about 8 cents after tax EPS drag from the new Canadian stores in your 2008 guidance. Is that correct?

Randy Underwood: No, it is greater than that. We guided about $3 million to $3.5 million and we have about $27.4 million of fully diluted shares for fiscal 2008 so it will be more than 8 cents.

Daniel Smith (Teton Capital): You have been saying 125,000 of EBIDTA for Year 2. Is that Canadian or overall store?

Donald Gayhardt: They lose money in the first year and then make it back in the second year. That is for Canadian store.

Daniel Smith (Teton Capital): If you open 85 stores that are about $10 million of pre-tax. Is that correct?

Donald Gayhardt: That is $10 million of EBIDTA.

Jeffrey A Weiss: We are on phase to do between 80 and 100 new stores in Canada in fiscal 2008. We will have opened 15 to 20 in the first quarter of fiscal 2008 and while it would be nice if they all opened with the same degree of regularity, there is going to be lumpiness in the store openings which will produce lumpiness in the earning depending on what your starting point is.

John Rowan (Sidoti & Company): Can you comment on your borrowing capacity and where you see what you would spend on borrowing in the current rate environment?

Donald Gayhardt: In terms of our borrowing capacity, we have $75 million line in the US, $25 million line in Canada which given that we have significant excess funds remaining from the convert deal, even after completing this first acquisition, so we want room for working capital. After this first round of acquisition, we have somewhere in the neighborhood of $130 million of proceeds remaining from that, so $100 million of free revolver, $130 million of cash left over from the converts, but we have to keep a decent amount of that revolver powder dry for working capital growth and also just for the ordinary interim month swings of the business.

Robert Napoli (Piper Jaffray): What are your thoughts on the additional countries and timing of additional countries?

Jeffrey A Weiss: The demographic, the de-industrialization that is creating this ever increasing surge of modern income service sector workers is not only endemic to the US, Canada and the UK, you find it in all the de-industrializing Western countries and throughout Eastern Europe too. We are at the level of investigation but not at the level of imminently going into distant territory. We think that the Republic of Ireland, which is contiguous to our Northern Ireland business, is an attractive place to go. We have been exploring over the past several years opportunities in Australia and a in Eastern Europe, but we do not think that any non-English language locations are imminent.

Robert Napoli (Piper Jaffray): Would you expect that in the next fiscal year you will be opening another 75 to 100 stores in Canada?

Jeffrey A Weiss: That has a lot to do with what the competitive environment is but the statistics is as follows: in the US for every 8200 adults, there is a pawn shop, a cheque cashing store, or a pay day loan store. When you get to Canada, that statistic is one store per 25,000 adults and in the UK it is one store for every 50,000 adults. Using the US as a measuring stick, we think in Canada it is still significantly under-stored and, all things being equal, you can expect that we will continue our aggressive expansion in Canada.