Thursday, July 24, 2014 12:15:11 AM
The amount LTNC has to pay to the IRS is not fully disclosed. Does Schadel provide the amount he owes? No. Does he disclose the penalties? No. Does he state how long he has to pay? No. In fact, the 2014 1Q makes it abundantly clear that the 2+ years specified in the agreement is just the beginning.
IOW, Beginning July 28th, 2016 there is an unspecified period of time for which $15,000 per month will be owed to the IRS on top of current payroll taxes. Why isn't the full term of the agreement specified? Because Schadel does not want investors to know just how bad he is being punished by the IRS for acting like a complete fool with payroll taxes. And when I say "he", I obviously mean investors because we all know Schadel doesn't commit his money for long (See loans paid back to himself just prior to tripling the convertible debt and doubling the AS).
As for the "growth". There isn't any. The revenue growth is not keeping up with the increase in branches. LTNC is doing significantly worse YOY. Even Schadel is not foolish enough to publicly say that total margins are improving- only margins with certain stores or certain months.
VPR Brands LP Reports Record Annual Financial Performance for Fiscal Year 2023 • VPRB • Apr 19, 2024 11:24 AM
Coinllectibles' Subsidiary, Grand Town Development Limited, Acquires Rare Song Dynasty Ceramics Worth Over USD28million • COSG • Apr 18, 2024 8:03 AM
ILUS Provides Form 10-K Filing Update • ILUS • Apr 17, 2024 9:54 AM
Glucotrack Announces Expansion of Its Continuous Glucose Monitoring Technology to Epidural Glucose Monitoring • GCTK • Apr 17, 2024 8:00 AM
Maybacks Global Entertainment To Fire Up 24 New Stations in Louisiana • AHRO • Apr 16, 2024 1:30 PM
Cannabix Technologies Begins Certification of Contactless Alcohol Breathalyzer, Re-Brands product series to Breath Logix • BLOZF • Apr 16, 2024 8:52 AM