Labor Smart Inc (LTNC)

[cpw13154]

When we saw the statement he put out how when he went to a bank to try and borrow money and they said he wasn't big enough his reaction was all anyone needed to see to understand this company didn't stand a chance. First of all it had to be a made p conversation as it was because if the bank saw potential in the company they could care how big or small you were. But anyway to the point he response was I will show them who isn't big enough.What IDIOT thinks its a good idea to open branch after branch before making sure the ones already up and running are running in the green. And the biggest joke out there was how this BOZO kept putting out this PR'S month after month on record revenues! Like an investor with an ounce of brains didn't say well I would hope so with all the added branches. But what he couldn't hide from was the financials! You can PR hype to death but numbers don't lie. The company was losing money at alarming rates. The Quarter that was the beginning of the end was the one we found out the toic debt was now a whopping 3 million dollars and on top of that he ahd a lien of well over a million dollars from the IRS for not paying the PAYROLL taxes again. Now remember folks this was when the debt was a million bucks and he said he was working on getting rid of that as it was killing the company. RED FLAG RED FLAG maybe its time to slow down and work on getting things in order. But not this bozo. And what does he have toshow for it a company whose revenues are dropping fast and a PPS that has gone from .50 a year ago to are you ready a PPS thats under .0001 and has no bid.