Pick n Pay Stores (PIK) FY 2025 Annual General Meeting August 05, 2025 02:30 AM ET Speaker0Morning, ladies and gentlemen, and welcome to the fifty seventh Annual General Meeting of the company. I welcome our shareholders, Board members, members of management and all other guests who have joined this meeting. The meeting will be conducted through electronic participation only as provided for in the JAC listing requirements and in terms of the provisions of the Companies Act and the company's Memorandum of In ...

Q3 2021 CONFIDENTIAL INVESTOR PRESENTATION Spring 2022 NASDAQ: PIK Disclaimer The information set forth herein contains statements that constitute "forward-looking statements" within the federal securities laws, including The Private Securities Litigation Reform Act of 1995, which provide a safe-harbor for forward-looking statements. In particular, when used in the preceding discussion, the words "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," ...

Group 1 - Business Development Companies (BDCs) are favored for their combination of capital appreciation and high income, but the current macroeconomic environment has diminished their attractiveness [1] - Many BDCs are experiencing a decline in performance due to the prevailing economic conditions [1] - A hybrid investment strategy that includes classic dividend growth stocks, BDCs, REITs, and Closed End Funds can enhance investment income while achieving total returns comparable to traditional index funds like the S&P [1]

Core Viewpoint - Prospect Capital Corporation (NASDAQ: PSEC) has reduced its monthly dividend from $0.06 per share, marking the first dividend cut since 2017, primarily due to declining PIK-related interest [1] Group 1: Dividend Changes - The company maintained a stable dividend of $0.06 per share per month since 2007 before the recent cut [1] Group 2: Impact on Investors - The reduction in dividend has shocked passive income investors, indicating a significant shift in the company's financial strategy [1]

Core Viewpoint - Hertz Global Holdings, Inc. is soliciting consents from holders of its existing First Lien Senior Secured Notes and Exchangeable Senior Second-Lien PIK Notes to amend certain provisions of the indentures governing these notes [1][2]. Consent Solicitations - The consent solicitations for the Existing Notes are being conducted under the terms outlined in the Consent Solicitation Statement dated December 5, 2024 [2]. - The expiration date for the consent solicitations is set for 5:00 p.m. New York City time on December 12, 2024, unless extended or terminated by the Company [3]. Proposed Offering - The consent solicitations are conditioned upon the proposed offering of an additional $500.0 million aggregate principal amount of First Lien Senior Secured Notes due 2029 [4]. - Purchasers of the Additional First Lien Notes will be deemed to have consented to the proposed amendments to the First Lien Indenture [4]. Required Consents - To implement the proposed amendments to the First Lien Indenture, the Company must obtain consent from at least 60.0% of the outstanding principal amount of the First Lien Notes [4]. - For the Exchangeable Notes, the Company also requires at least 60.0% of the outstanding Capitalized Principal Amount for the proposed amendments [4]. Initial Consenting Holders - The Company has received non-binding indications of intent from certain holders, expected to deliver consents exceeding the required 60.0% for both the Exchangeable Notes and the First Lien Notes [5]. Consent Fees - The consent fee for the First Lien Notes is set at $11.25 per $1,000 principal amount, while the fee for the Exchangeable Notes is $17.50 per $1,000 principal amount [7].

Financial Performance - Revenue for Q3 2024 was $1.0 million, a year-over-year decrease of 69.2%[2] - Kidpik Corp. reported net revenues of $1,042,648 for the 13 weeks ended September 28, 2024, a decrease of 69% compared to $3,389,183 for the same period in 2023[17] - Total revenue decreased by 69.2% to $1,042,648 for the 13 weeks ended September 28, 2024, down from $3,389,183 in the prior year[23] - Total revenue for the 39 weeks ended September 28, 2024, was $4,410,276, a decrease of 59.4% from $10,867,580 in the same period last year[25] - Subscription box revenue for the 13 weeks ended September 28, 2024, was $757,697, a decline from $2,427,615 in the same period last year[17] - Subscription box revenue fell by 68.8% to $757,697 for the 13 weeks ended September 28, 2024, compared to $2,427,615 in the same period last year[23] - Revenue from girls' apparel decreased by 70.3% to $773,031 for the 13 weeks ended September 28, 2024, compared to $2,599,762 in the prior year[24] - The company experienced a significant decline in revenue across all product lines, with boys' apparel down 64.0% to $231,362 for the 13 weeks ended September 28, 2024[24] Profitability and Loss - Net loss was $0.9 million or $0.45 per share, an improvement from a net loss of $1.9 million or $1.20 per share in Q3 2023[2] - Operating loss for the 13 weeks ended September 28, 2024, was $(819,929), compared to $(1,903,834) for the same period in 2023[16] - Net loss for the 39 weeks ended September 28, 2024, was $(3,958,805), compared to $(5,905,688) for the same period in 2023[16] - The gross profit for the 13 weeks ended September 28, 2024, was $715,342, down from $2,071,499 in the prior year, reflecting a gross margin decline[17] Operational Metrics - Shipped items decreased to 107,000, down from 292,000 in Q3 2023[2] - Average shipment keep rate fell to 67.7%, compared to 82.6% in Q3 2023[2] - Active subscriptions for recurring boxes dropped by 63.6% to $716,781 for the 13 weeks ended September 28, 2024, from $1,971,223 in the prior year[23] - New subscriptions for the first box fell by 91.0% to 40,916 for the 13 weeks ended September 28, 2024, compared to 456,392 in the same period last year[23] Merger and Acquisition - The merger with Nina Footwear Corp. is expected to close in Q1 2025, pending customary closing conditions[5] - Marketing expenditures for subscription services have been eliminated as part of the merger preparation[3] - The merger is anticipated to enhance Kidpik's revenue, cash flow, and stockholder value[4] - A preliminary proxy statement has been filed with the SEC as part of the merger process[3] - Kidpik will not hold an earnings call for Q3 2024 results due to ongoing merger activities[5] Balance Sheet - Total current assets decreased to $4,165,074 as of September 28, 2024, from $6,027,482 as of December 30, 2023[15] - Total liabilities increased to $8,152,255 as of September 28, 2024, compared to $6,080,180 as of December 30, 2023[15] - Cash and restricted cash at the end of the period was $7,823, down from $60,305 at the end of the previous year[16] - The weighted average common shares outstanding for the 13 weeks ended September 28, 2024, was 1,951,638, an increase from 1,604,454 in the same period last year[16] Gross Margin - Gross margin improved to 68.6%, compared to 61.1% in Q3 2023[2] - Gross margin improved to 68.6% for the 13 weeks ended September 28, 2024, compared to 61.1% for the same period last year[18]

Group 1 - Monteverde & Associates PC is investigating Kidpik Corp. in relation to its proposed merger with Nina Footwear Corp. [1] - Under the merger agreement, Nina Footwear stockholders will receive shares of common stock of Kidpik, resulting in them owning 80% of Kidpik's outstanding common stock upon closing [1] Group 2 - Monteverde & Associates PC is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report, highlighting its successful track record in recovering money for shareholders [1][2] - The firm operates from the Empire State Building in New York City and specializes in class action securities litigation [2]

Core Viewpoint - Monteverde & Associates PC is investigating Kidpik Corp. in relation to its proposed merger with Nina Footwear Corp., which involves shareholders of Kaival Brands receiving shares in the new entity [1]. Group 1: Company Overview - Monteverde & Associates PC is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report and is headquartered in the Empire State Building, New York City [1]. - The firm specializes in class action securities litigation and has a successful track record in recovering money for shareholders [2]. Group 2: Merger Details - Under the terms of the merger agreement, shareholders of Kaival Brands will receive 1 share of Pubco for each share of Kaival Brands common stock they own [1]. - Shareholders are anticipated to own approximately 10.30% of Pubco following the merger [1].

Financial Performance - Revenue for Q2 2024 was $1.1 million, a year-over-year decrease of 67.3%[2] - For the 13 weeks ended June 29, 2024, Kidpik Corp. reported revenues of $1,128,323, a decrease of 67.3% compared to $3,448,919 for the same period in 2023[11] - Gross profit for the 13 weeks ended June 29, 2024, was $746,746, down 64.0% from $2,076,356 in the prior year[11] - The net loss for Q2 2024 was $1.3 million or $0.67 per share, an improvement from a net loss of $2.0 million or $1.31 per share in Q2 2023[2] - The net loss for the 13 weeks ended June 29, 2024, was $1,301,450, compared to a net loss of $2,029,225 for the same period in 2023, representing a 35.9% improvement[11] - Subscription boxes revenue fell to $804,837 for the 13 weeks ended June 29, 2024, a decline of 69.1% from $2,607,543 in 2023[20] - Active subscriptions revenue from recurring boxes was $783,106 for the 13 weeks ended June 29, 2024, down 64.0% from $2,177,298 in the same period last year[22] - Total subscription boxes revenue for the 26 weeks ended June 29, 2024, was $2,321,502, a decrease of 58.4% from $5,579,110 in 2023[21] - Revenue from third-party websites dropped to $32,801 for the 13 weeks ended June 29, 2024, a decline of 92.3% from $426,914 in the same period last year[20] - Online website sales revenue decreased to $290,685 for the 13 weeks ended June 29, 2024, down 29.9% from $414,462 in 2023[20] - The company experienced a significant reduction in new subscriptions, with revenue from first boxes falling to $21,731, a decline of 94.9% from $430,245 in the same period last year[22] Operational Metrics - Gross margin improved to 66.2%, compared to 60.2% in Q2 2023[2] - Gross margin improved to 66.2% for the 13 weeks ended June 29, 2024, compared to 60.2% for the same period in 2023[15] - Shipped items decreased to 135,000, down from 290,000 in Q2 2023[2] - Shipped items decreased to 135,000 for the 13 weeks ended June 29, 2024, down from 290,000 in the same period last year[19] - Average shipment keep rate slightly decreased to 74.6%, compared to 75.1% in Q2 2023[2] - Average shipment keep rate was 74.6% for the 13 weeks ended June 29, 2024, slightly down from 75.1% in the same period last year[19] Cash Flow and Assets - Total current assets decreased to $4,640,840 as of June 29, 2024, from $6,027,482 as of December 30, 2023, a decline of 22.9%[12] - Total liabilities increased to $7,865,802 as of June 29, 2024, compared to $6,080,180 as of December 30, 2023, an increase of 29.4%[12] - Cash and restricted cash at the end of the period was $38,648, down from $162,759 at the end of the previous year, a decrease of 76.3%[13] - Net cash used in operating activities for the 13 weeks ended June 29, 2024, was $1,375,856, compared to $366,333 for the same period in 2023, indicating a significant increase in cash outflow[13] Merger and Strategic Initiatives - The merger with Nina Footwear is expected to close in Q4 2024, pending customary closing conditions[4] - Marketing expenditures for subscription services have been eliminated in anticipation of the merger[3] - The merger is anticipated to enhance Kidpik's revenue, cash flow, and overall prospects[4] - Kidpik will not hold an earnings call for Q2 2024 results due to the ongoing merger process[4] - The company is focused on maximizing returns from current inventory before the merger[3] Other Financial Metrics - Kidpik Corp. incurred interest expenses of $8,617 for the 13 weeks ended June 29, 2024, compared to $24,415 for the same period in 2023, a decrease of 64.7%[11] - The company recorded a bad debt expense of $26,928 for the 13 weeks ended June 29, 2024, down from $151,362 in the same period last year, reflecting improved receivables management[13] - The company reported a total of 1,951,638 weighted average common shares outstanding as of June 29, 2024, compared to 1,872,433 shares as of December 30, 2023[12]

Financial Performance - Revenue for Q1 2024 was $2.2 million, a year-over-year decrease of 44.4%[7] - Net loss for Q1 2024 was $1.8 million, or $0.94 per share[7] - Adjusted EBITDA loss was $1.4 million[7] - For the 13 weeks ended March 30, 2024, net revenue was $2,239,305, a decrease of 44.4% compared to $4,029,478 for the same period in 2023[24] - The net loss for the 13 weeks ended March 30, 2024, was $1,769,411, compared to a net loss of $1,950,512 in the same period last year[23] - Adjusted EBITDA for the period was $(1,391,782), an improvement from $(1,647,157) in the prior year[33] Operational Metrics - Gross margin improved to 69.9%, compared to 59.8% in Q1 2023[7] - Gross profit for the same period was $1,565,764, resulting in a gross margin of 69.9%, up from 59.8% in the prior year[25] - Shipped items decreased to 195,000, down from 340,000 in Q1 2023[7] - The number of shipped items decreased to 195,000 from 340,000 year-over-year[27] - Average shipment keep rate increased to 78.2%, compared to 68.1% in Q1 2023[7] - The average shipment keep rate improved to 78.2% from 68.1% in the previous year[29] - Subscription box revenue fell to $1,516,665, a decline of 49.0% from $2,971,567 in the prior year[31] Balance Sheet - Total current assets decreased to $4,988,782 from $6,027,482 as of December 30, 2023[21] - Total liabilities increased to $7,158,788 from $6,080,180 as of December 30, 2023[21] - Cash and restricted cash at the end of the period totaled $14,972, a decrease from $269,287 at the beginning of the period[23] Merger and Acquisition - Kidpik entered into a Merger Agreement with Nina Footwear Corp. on March 29, 2024[3] - The Merger is expected to close in Q3 2024, subject to customary closing conditions[4] - The company has ceased purchasing new inventory in anticipation of the Merger[3] - The Merger is anticipated to enhance Kidpik's revenue, cash flow, and stockholder value[4]