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    Paul Carter • Carter-Haston

    Paul Carter is an analyst at Carter-Haston, focusing on real estate investment strategies primarily within the multifamily property sector. While specific companies he covers and quantitative performance metrics are not publicly documented, his work centers on property analysis, acquisition, and asset management across major Southeastern U.S. markets. Carter began his career in real estate finance and joined Carter-Haston to leverage his expertise in underwriting, deal execution, and portfolio optimization. His professional credentials include formal training in financial analysis, but no FINRA securities licenses or notable third-party rankings have been published.

    Paul Carter's questions to Educational Development Corp (EDUC) leadership

    Paul Carter's questions to Educational Development Corp (EDUC) leadership • Q1 2026

    Question

    Paul Carter of Capstone Asset Management Inc. questioned the company's viability, which he noted hinges on the delayed sale of the Hilti complex. He asked for details on the board's contingency plan if the current deal fails and whether they would explore strategic alternatives. He also inquired about board governance, specifically asking if minimum director stock ownership requirements were being considered to better align interests with shareholders.

    Answer

    President and CEO Craig White confirmed the existence of a "Plan B" involving other offers with a quick close that would also eliminate bank debt, intended to be executed by September if the current sale agreement ("Plan A") falls through. He expressed confidence in the current buyer but noted a July 28 deadline would provide clarity. Regarding governance, Mr. White stated that board makeup is a focus, with a transition underway to include stock-based compensation for directors, and that further changes are expected over the next 9-12 months.

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    Paul Carter's questions to Educational Development Corp (EDUC) leadership • Q3 2025

    Question

    Paul Carter of Capstone Asset Management questioned the revised timeline for the Hilti Complex sale, confirmed the sale price, and asked why the Board has not pursued broader strategic alternatives, including a sale of the company, given the significant revenue decline.

    Answer

    Executive Dan O'Keefe clarified that the sale timeline was extended due to delays from the buyer group but confirmed the sale price remains unchanged from the LOI. Executive Craig White responded that pursuing other strategic options is inappropriate while the building sale is imminent, expressing confidence that becoming debt-free will be a catalyst for recovery and that the sales force is in a 'wait-and-see' mode.

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    Paul Carter's questions to Educational Development Corp (EDUC) leadership • Q2 2025

    Question

    Paul Carter inquired about the confidence in the Hilti Complex sale to a third investor group, the net proceeds expected, and future credit facility plans. He also questioned the sales impact from inventory out-of-stocks and the company's strategy for recruiting former Tupperware representatives.

    Answer

    Executive Craig White expressed high confidence in the new buyer for the Hilti Complex, noting the previous deal was terminated due to renegotiation tactics. Executive Dan O'Keefe added the new buyer has relevant experience and confirmed plans for a small, new credit facility post-sale, but could not yet disclose net proceeds. Executive Heather Cobb acknowledged that inventory out-of-stocks have impacted sales but couldn't quantify the effect, and stated the company is not specifically targeting former Tupperware reps but is focused on broadly improving its direct selling proposition.

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    Paul Carter's questions to Educational Development Corp (EDUC) leadership • Q1 2025

    Question

    Paul Carter inquired about the timing of recent brand partner additions, the company's confidence in stabilizing its sales force, details on the new buyer for the Hilti Complex, the net proceeds from the sale, future credit line plans, and potential capital allocation strategies like buybacks or dividends.

    Answer

    Heather Cobb, Chief Sales and Marketing Officer, confirmed the 3,700 new brand partners joined during a June promotion and expressed incremental confidence in stabilizing the partner count. CEO Craig White clarified the new building buyer is related to the previous party but is a distinct entity requiring its own due diligence. CFO Dan O'Keefe projected net proceeds of $34.5 million from the sale, sufficient to pay off bank debt, and noted the bank has offered a new $4.5 million line of credit post-sale. Craig White added that while options like buybacks and dividends exist for the future, no decisions have been made.

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