Company: CPSS
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001683168-25-005901
Chunk: 6

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 6
---
DENSED CONSOLIDATED FINANCIAL
STATEMENTS

At June 30, 2025, the aggregate intrinsic value
of options outstanding and exercisable was $19.8 million and $18.4 million, respectively. There were $1.3 million options exercised for
the six months ended June 30, 2025, compared to $1.4 million for the comparable period in 2024. The total intrinsic value of options exercised
was $8.2 million and $6.2 million for the six-month periods ended June 30, 2025, and 2024. There were 2,931,000 shares available for future
stock option grants under existing plans as of June 30, 2025.

Purchases of Company Stock

The table below describes the purchase of our
common stock for the six months ended June 30, 2025, and 2024:

    Schedule of purchase of our
common stock 

    Six Months Ended 

    June 30, 2025  
    June 30, 2024 

    Shares  
    Avg. Price  
    Shares  
    Avg. Price 
  
    Open market purchases 
     76,880  
    $9.72  
     473,202  
    $8.67 
  
    Shares redeemed upon net exercise of stock options 
     449,772  
     9.76  
     824,511  
     8.57 
  
    Total stock purchases 
     526,652  
    $9.76  
     1,297,713  
    $8.61 

Reclassifications

Some items in the prior year financial statements
were reclassified to conform to the current presentation. Reclassifications had no effect on net income or shareholders’ equity.

Financial Covenants

Certain of our securitization transactions, our
warehouse credit facilities and our residual interest financing contain various financial covenants requiring minimum financial ratios
and results. Such covenants include maintaining minimum levels of liquidity and net worth and not exceeding maximum leverage levels.
As of June 30, 2025, we were in compliance with all such covenants. In addition, certain of our debt agreements other than our term securitizations
contain cross-default provisions. Such cross-default provisions would allow the respective creditors to declare a default if an event
of default occurred with