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TSGL registration revoked:
https://www.sec.gov/litigation/opinions/2020/34-90425.pdf
TSGL SEC Suspension for severely delinquent Financials:
https://www.sec.gov/litigation/suspensions/2019/34-86681.pdf
Order:
https://www.sec.gov/litigation/suspensions/2019/34-86681-o.pdf
Admin. Proceeding:
https://www.sec.gov/litigation/admin/2019/34-86680.pdf
The TSGL CEO resigned - she was the COO for Labor Smart (Kim Thompson). She and Schadel got a $3 million loan with TCA Global Credit Master Fund - they only received the first tranche of $1 million and it went to Schadel/Labor Smart.
TSGL was used to fund the lifestyle of Schadel.
TSGL did a reverse split and the price was $6 and it down to 0.046 - so the investors are down 99% since.
There isn't much to say about TSGL.
IG
Yes. Check out post No. 5 over at related revoked ticker CRPT. That is the future for TSGL.
My research on Labor Smart and Ryan Schadel led me to this board but there is never any conversation. Does anyone know what is going on here?
I’d bet $LTNC takes this over, soon to be operating under ticker $LTNC
So what's missing here: TSGL announced on their last 8k: On April 2, 2018, Staffing Group Ltd. (the “Company”) permanently closed its three operating branches; Nashville, TN, Raleigh, NC and Indianapolis, IN. Currently the Company has no operating branches.
So what happened to the other 2?
In January 2016, the Company commenced operations of one (1) staffing location Montgomery, Alabama through the subsidiary, Staff Fund I, LLC. This subsidiary recruits, hires, employs and manages skilled and unskilled workers that it places with its client companies.
On April 1, 2016, the Company purchased the operating assets of four (4) branch locations in Charlotte, NC, Indianapolis, IN, Nashville, TN and Raleigh, NC from Labor Smart, Inc. for consideration with a fair value of $2,666,000. The one-time fee of $5,000 for the (4) newly opened branches which were opened under the Labor Smart, Inc. name totaling $20,000 was waived. As a requirement of the purchase of the operating assets, the one (1) issued and outstanding share of Series A Preferred Stock owed by Labor Smart, Inc. was transferred to Kimberly Thompson, the Chief Executive Officer (“CEO”) of the Company in addition the CEO stepped down from any former position she held with Labor Smart, Inc. Each share of Series A Preferred Stock gives the holder voting rights equal to 2 votes for every one share of common stock outstanding at the time of a vote of shareholders and does not have any additional rights or preferences. As such, at December 31, 2016, Kimberly Thompson controlled the majority of shareholder votes.
On September 12, 2016, the Company cancelled the Licensing Agreement with Labor Smart, Inc and, as such, no longer operates under the Labor Smart trademarked name. The Company currently operates under its legal name, The Staffing Group Ltd.
Schadel, said he needed to go to Indianapolis and Montgomery, along with tweeting he's trying to get funding to start a new public company. Future scam?? Looks like it to me.1
What happened to the 2.6 million Schadel received?
Why? they are not profitable. Not under Schadel previously or under Thompson. Creditors who got shafted now want whatever money they can get. SEC and state SOS would be wise to investigate Schadel before agreeing to any change of ownership. The sale to TSGL and the move of Thompson from LTNC to TSGL was only a plan to get a hold of millions in toxic financing. The branches only appear to be a ruse to get Schadel enriched.
Hopefully these locations end up in operating under LaborSMART $$$LTNC
Closing their 3 branches. Looks like they are trying to figure out what to do next...
ITEM 2.01 Completion of Acquisition or Disposition of Assets
On April 2, 2018, Staffing Group Ltd. (the “Company”) permanently closed its three operating branches; Nashville, TN, Raleigh, NC and Indianapolis, IN. Currently the Company has no operating branches.
ITEM 8.01 Other Events
The Company will be exploring strategic alternatives for its staffing assets. The Company has not set a timetable for the completion of the evaluation process or made a decision to pursue any particular strategic alternative.
https://backend.otcmarkets.com/otcapi/company/sec-filings/12671645/content/html
Their new HQ's. We'll see if the move actually happens.
https://www.regus.com/office-space/united-states/north-carolina/greensboro/north-carolina-greensboro-green-valley-office-park
Did you read the latest 8k? Is Schadel going after Kim now? I hope she becomes States Evidence against him.
ITEM 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.
On March 14, 2018, Staffing Group Ltd. (the “Company”), (OTCPINK: TSGL) announced the mutually agreed upon resignation of Mrs. Kimberly Thompson as President of the Company. The resignation is effective March 12, 2018.
In addition, Mrs. Thompson resigned her position as Director of the Company’s Board of Directors.
ITEM 8.01 Other Events.
On March 12, 2018, the Company closed its Headquarters in Dallas, Georgia and will be relocating to 717 Green Valley Road, Suite 200. North Carolina 27408.
Lol I was thinking the same thing. Shadel would get his ass handed to him in court again with that whole corrupt transaction where he robbed tsgld shareholders to pay himself.
Just like he recently lost $500k to command center, over >$30k to Prometheus and was ordered to settle in his employee lawsuit. He loses every time he goes to court.
Is Schadel in trouble with the new CEO of TSGL? Looks like he's going to have his ass handed to him once again. This is his tweet:
Ryan Schadel? @CRyanSchadel
I've had a friendly relationship with this staffing co for quite a while. Things have turned contentious lately. I prefer friendly resolution but I am prepared to do battle, and frankly almost yearn for it. Let's be friends. If we can't, I'm gonna come fuck you up. Cheers
I think Kim was just a puppet of schadel and had no clue what she was doing.
Also interesting is the new owner of 5.7% share per the financials.
https://www.virtu.com
Based on the website trying to determine if this is a new leg to the scam or someone taking over for kimmies incompetence.
Agreed... looks like a lien holder is taking over from the look of things. Her and the shady sham must be defaulting on payments.
—————-
On February 15, 2018, Staffing Group Ltd. (the “Company”), (OTCPINK: TSGL) announced the mutually agreed upon resignation of Mrs. Kimberly Thompson as Interim CEO of the Company. The resignation is effective February 9, 2018.
Immediately effective upon the resignation, the Company appointed Mr. Jonathan Cross as CEO and Chairman of the Board of Directors of the Company. Mr. Cross will draw no salary in either position.
Jonathan is a seasoned investor with over 30 years of experience in principal investing, domestic and cross-border M&A, corporate finance and corporate restructuring, and is the Managing Director of Shefford Capital Partners, LLC., a New York based private equity firm.
Subsequently, the Board of Directors retained Mrs. Kimberly Thompson as Director of the Board of Directors and appointed her President of the Company. Mrs. Thompson will be responsible for overseeing the day-to-day operations of the Company.
Did you see the latest 8k? Looks like KT is working her way out, Now just President and director. But why does the 8k call her the interim CEO? Thought shady schadel had her as CEO, nothing interom about her. The BS continues. Wonder if she'll turn States evidence against Schadel. One can only hope she's not as slimy as he is.
Need some more posts here showing how things are looking good LOL
Not so much anymore, with schadel owning a piece of TSGL, and now owes up to 500K. TSGL will be reduced beyond what it already is. Not to menion it's toxic loan. Everything is falling apart very quickly.
No updates here? This was 3 stocks ago... lights off, silence, darkness
Its been gone a long long long time
This one seams about gone too.. seems to jump ship to ship on these pumps.
LOL remember all the hype about Nashville and their $100 grand week and now lookt the financials and see this statement!
A goodwill impairment charge of $761,000 was recorded as at December 31, 2016. The impairment of goodwill was due to the loss of significantly all of the customers at the Nashville, TN and Raleigh, NC branches acquired on April 1, 2016. See Note 4 – Business Acquisition.
Definitely a horrible report, 3 million loss, pps is way over valued. 1 executive and 13 employees, no real estate as it is all rental property. Very little cash, TCA payment = dilution. Stock price should be subpenny very soon.
Bottom line is there are almost no tangible assets. Only using temp employees to continue an operation that is hemorrhaging cash. Nothing but debt, 20 percent loans. Not to mention they discontinued using "Labor Smart".
Even they don't want to be associated with Schadel's abortion.
You certainly are Infatuated with Schadel.
IG
Price went from $6 to $0.099 after the reverse split.
The price is only down 98% since the R/S.
Maybe you can explain your definition of holding steady.
All I see is disaster for shareholders - Schadel has destroyed another company.
IG
Share price holding... Ryan ain't no joke $$$
Add to that Schadel and LTNC lost the lawsuit and has to pay a minimum of 28k+. Now they are going after him personally, I wonder the timing to see if they also name Kim Thompson as a co conspirator.
Hey Kimmy, how about filing your financials so we can see how the TCA loan is going and if they have filed a lawsuit.
Kimmy, your relationship with Schadel will cause you a great deal of heartache and possibly prison time - the TCA loan while you were COO of LTNC is collusion and a related party transaction to the detriment of TSGL shareholders - which is a securities violation.
Let's see TSGL - Schadel majority shareholder not current in filings - LTNC Schadel drives stock in ground dumps billions of shares and abandoned shareholders plus stopped filing - AFPW, Schadel takes over for Fong and stops filing.
Kimmy - life looks pretty grim for your future - maybe you will look better in strips.
IG
Not so fast, .0457 Thompson and Schadel birds of a feather flock together. Investors can only hope the feds are moving in!!
Whoops now sitting @.06. so is it bad if it goes from .$6.00 to .06?
Down from $6.00, not bad I guess
Still sitting at .10 Not bad, holding tight here!! $$$
This turkey is totally brain dead.
STOP OTC MARKETS HAVE PUT THIS STOP SIGN ON TSGL!so as expected the end is in site here. Kimmie has learned from Ryan.
Looks like Kimmy has missed her late Filing date (April 15, 2017) for the 10-K.
All of Schadel's scams are falling apart.
IG
Especially since he thinks he's a bit tricky. I wonder if CEO of TSGL knows that Schadel is now a paid pumper and owner of Boss Equity which, supposedly, is due 30,000 dollars for pumping SAKL. Read his Twitter description, he deleted the part about being LaborSmart CEO instead now listed as Entrepreneur and activist investor. Read his disclaimer which states he's now affiliated with Boss Equity, Read the Boss Equity disclaimer to find out "they" expect the 30K. But search Boss Equity Inc and you find out Schadel owns that company.
He's over being CEO of LTNC. I Expect now he'll use funds from TSGL and AFPW to pay himself money to pump those stocks. He won't give a crap what happens, he's just going to pay himself tens of thousands of dollars.
Can you smell what he's stepping in??
Schadel is that you trying trying to prop up the TSGL price - sorry no one is falling for your BS anymore.
IG
Kimmy is late on her filings - Schadel has forgotten about LTNC and now he is late on the AFPW filings.
I have never seen a guy that screw up so much.
I see he is back to pumping other stocks on Twitter.
IG
What does that have to do with TSGL?? Just pumping nonsense from Thompson and Schadel. Kim over her head, or Schadel trying to deflect the fact that his recent stock touts are in the toilet. He must be getting desperate for cash.
2 trades 57 dollars. Hell Schadel tried to pump this again, after his recent picks started tanking again. Every stock he mentions drops like a stone!! So where's Kim Thompson now??
This stock is a joke, so IF we see the 10K. But one trade for 20 dollars. What a piece of work Schadel is, trying to pump up TSGL, and he know's it's in the toilet. Still refuses to even mention LTNC. Bet TSGL goes dark also. Better to hide the TCA loan that way.
The 10-k is due soon. That should be interesting.
IG
Just look at that massive volume today, 3 trades 14 dollars. If Kim doesn't come clean, she'll go down with Schadel. I wonder what her employees think, or are they all in on it. I guess there won't be any more blitzes or periscopes.
I hope no one is foolish enough to think TSGL is a real company - the idiot Schadel drove it from $3.60 (after a sweet reverse split) to $0.11 - that takes Schadel level incompetence.
IG
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The Staffing Group (TSGL)
ON STOP WITH OTC
The Kimberly Thompson) is also the active COO of LTNC and employee of Christopher Ryan Schadel, CEO of LTNC (OTC Pink: STOP). LTNC is the majority shareholder of TSGL and sole beneficiary of capital generated through TSGL convertible notes through 06/30/2016. This relationship is important to consider when Kimberly Thompson used toxic lending to purchase 4 unprofitable branches from her boss, Ryan Schadel, on April 6th, 2016 in a deal worth a whopping $2.915 million to Labor Smart, which is severely in debt with millions of dollars in delinquent toxic notes and millions of dollars in payroll taxes and recently went dark after closing/selling 80% of its branches.
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