Labor Smart Inc (LTNC)

[kmikesara]

the recent financing was bottom line a deal to sell shares at $.15 or pay the usual 30% penalty, so at least there is some near term protection against a death spiral caused by the outstanding convertible debt that is coming due and a stock price that has been declining. The deal could end up with 7M shares issued, bringing the O/S to about 34M.

With the current pps around $.18, if you think LTNC will make it, then that pps may be a good price. If you think the people who put up the big bucks knew what they were doing, then $.18 may be a good price. If you think that Ryan's record at age 18 and LTNC's less than perfect disclosure foreshadows a bleak future for LTNC, then no price for the stock is a good price. But I can attest to one thing, and only one thing, and that is in my experience with start ups I haven't met one yet that in its early years behaved like a grown up company. And one last thing, there has been much criticism of Ryan and LTNC, some of it by me, but I'll bet my bottom dollar that those who have done the most criticizing have never started a public company and have no idea how difficult it is to reach success. Most fail, and that LTNC has a shot to succeed is a coup in itself.