Company: CPSS
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001683168-25-003436
Chunk: 56

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 56
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 notes have maturities that range from six months to 10 years. We had $27.5 million and $26.5 million in subordinated renewable
notes outstanding at March 31, 2025, and December 31, 2024, respectively. In June 2021, March 2024, and again on March 20, 2025, we completed
a securitization of residual interests from other previously issued securitizations in the amount of $50 million, $50 million, and $65
million, respectively. As of March 31, 2025, all $165.0 million of the residual interest debt remains outstanding.

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Although we believe we are
able to service and repay our debt, there is no assurance that we will be able to do so. If our plans for future operations do not generate
sufficient cash flows and earnings, our ability to make required payments on our debt would be impaired. If we fail to pay our indebtedness
when due, it could have a material adverse effect on us and may require us to issue additional debt or equity securities.

Item 4. Controls and Procedures

We maintain a system of internal controls and
procedures designed to provide reasonable assurance as to the reliability of our published financial statements and other disclosures
included in this report. As of the end of the period covered by this report, we evaluated the effectiveness of the design and operation
of such disclosure controls and procedures. Based upon that evaluation, the principal executive officer (Charles E. Bradley, Jr.) and
the principal financial officer (Denesh Bharwani) concluded that the disclosure controls and procedures are effective in recording, processing,
summarizing and reporting, on a timely basis, material information relating to us that is required to be included in our reports filed
under the Securities Exchange Act of 1934. There has been no change in our internal controls over financial reporting during our most
recently completed fiscal quarter that has materially affected, or is reasonably likely to materially affect, our internal control over
financial reporting.

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PART II — OTHER INFORMATION

Item 1. Legal Proceedings 

The information provided under the caption “Legal
Proceedings,” Note 8 to the Unaudited Condensed Consolidated Financial Statements, included in Part I of this report, is incorporated
herein by reference.

Item 1A. Risk Factors

We remind the reader that risk factors are set
forth in Item 1A