Labor Smart Inc (LTNC)

[ArchibaldCampbell]

I guess anything is possible, but wishing I was a shareholder in LTNC is pretty unlikely. Extremely unlikely.

In support of not being a shareholder are several crucial facts -- the fact that Shady has repeatedly lied to shareholders, engaged in grandstanding, ripped the company off by paying himself a $100,000 bonus which the company borrowed at 59%, or something like that, not paid payroll tax, leased an expensive car paid for by the company, paid his father a salary for doing nothing, had the company pay himself rent or paid for his house rent, I'm not sure which, but in any case neither is good. He's not met the minimal requirements of filing financial statements with the SEC, and he's being sued by creditors of the company for fraud.

On the other side of the equation, in favor of becoming a shareholder are your vague assertions that something big is going to happen, that Shady is a phenomenal CEO, that you've done your DD so you have special insight but are reluctant to share what you know.

I had an email exchange with Shady a couple of years ago during which he told me the company was about to experience a major improvement in earnings. When I responded that given the amount of debt the company had, and the total lack of earnings, not only was an improvement in earnings not likely but survival was not likely. He said the company was growing its way out of its problems. Not going to happen I told him.

Then I asked him if it was true, as has been alleged, that he deliberately mislead shareholders about several crucial facts concerning the company's debt, and if it was true he had once held up a supermarket with a fake gun, he abruptly broke off our interesting email exchange. Not very friendly of him, now was it?

Since then this message board has been a source of entertainment, although more recently it has become less interesting. I used to post occasionally, but the powers that be here would delete my postings for, I assume, my lack of enthusiasm for the stock. I was a party pooper.