No, I don't think there's a solution out of this. First there's no "they" here. LaborSmart's top management is a one-man show. As I see it, the company has one root problem called "Ryan Schadel", a failure with an inflated ego and a delusion that he can manage the company successfully despite causing it to hit the wall so many times. It seems to me he wants to prove his competence to someone so he doesn't want to company to succeed only but to succeed through him, so most likely he's sticking with it despite his floundering which will keep causing damage until it dies. I also see him as a person with no integrity who has no problem taking shady actions. That's why he didn't appoint a board of directs, so they won't fire him either when they find out that he is incompetent or when they see how he manages the company and spends its funds. A straightforward person who puts first the interest of the shareholders who entrusted him with their money would step down when he realized that he can't fulfill his responsibility. But instead, he went dark when he felt the increasing pressure to disclose what he's doing so no one can account him for anything. All signs indicate a dying company. A no bid stock with dumps and 4-zero trades below 0.0001 every now and then, branches dropping like flies, huge debt, a CEO who uses the company funds for his personal interest (his residence rent) and has nothing but fluff to tweet and who goes to the dark side and hides every time he's asked an important question. Talking about paying notes or buyback now would be a joke. Back when the company first announced the buyback there was none actually happening evidenced by the daily volume. Unless there's a recent proof of buybacks or notes payments going on, it's safer to assume there's none happening.
Even if Ryan stepped down now, I don't see how another manager - no matter how competent - can save the company in its current state. That is, if he accepted to risk his name with it at the first place. I don't think Ryan would step down too because that would confirm his failure which is something his inflated ego wouldn't accept. He seems even more desperate that he went through that recent escapade with AFPW but it fired back at him and he tasted his own medicine. That action speaks volumes. Why would he be that desperate and play that game if everything is going fine as he claims? Wouldn't it be better to put that money in LTNC shares to both enhance its situation and benefit if he really think it will be better? He knows it won't happen so he went to another stock.
So based on the publicly available information, no, I don't think "he" can find a solution out of this.
Your money, your decisions.
AI
