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As I said, I had no trouble finding people at the branches willing to talk to me. I guess it helped that I said Ryan Schadel suggested I call. It's not all gloom and doom but if saying business is bad helps you buy cheaper shares more power to you.
I've said I called six in the past two weeks. That's what I do to protect my investment. I'm confident the business is doing just fine. Anyone who has concerns should do their own research. Pick up the phone and make to call. I identified myself as a LTNC shareholder and except for one (I actually called 7 locations) I got straight up answers. You should try it for yourself.
I've called six locations on the past two weeks. Lots of opportunities. What makes you think there aren't? Did you actually call anyone?
Seriously, most ads for temp help are in local papers and sites and repeat workers where the job is never posted. Everyone is making way too much of these monster postings. Debating based on these being the only job postings is futile.
Jobs at Labor Smart on monster.com
http://www.monster.com/jobs/c-labor-smart.aspx
Researching Prometheus Capital's business it appears they're not usually a company that invests in a tiny note just to convert. Their deals are in the $10 millions or more for companies they're interested in or they're working on behalf of someone else. To buy a $15,000 note just to convert makes no sense unless their intent was to purchase knowing the can't convert because Ryan has stated publicly what he's done with the AS reduction to restrict it. There is a lot more to this story than meets the eye. I won't even begin to say I know what's going on in the shadows but I smell a rotten fish.
Please provide a link to the order.
Tomorrow is Prometheus court date and end of TRO. Interesting to see how it all plays out.
LTNC owns common shares and that is their financial interest in TSGL. There are no shares owned by LTNC that gives then any control. Implying otherwise is not correct. Simple as that.
Wrong! Labor Smart owns non-voting common shares in TSGL.
Thanks. You confirmed LTNC owns only common shares.
When the stock was at .0001 no bid and it looked like LTNC could go BK almost all note holders agreed to the payment plan. Although Ryan never intended that he let them think it could happen and they would lose everything. It was a very good business move for the company and shareholders. Naysayers can talk all they like about the past. A lot of progress has been made and will continue. Now, where the hell is that Q and K?
LTNC divested itself of the one preferred share it owned that gave Schadel voting control of TSGL. Now, LTNC owns common shares like any other investor. Schadel has said those shares will be sold at some point but as their value increases LTNC's shareholders will benefit. That's what he meant.
Tweet from Ryan on increase in profits due to reduction in insurance costs. If payroll is 15 mil additional profits would be 3 mil. That's a very positive development!
@CRyanSchadel @IFlipTrips How much in real dollars would "31 basis points" translate 2 4 the bottom line?
@MBFrabotta @IFlipTrips approx 200k in additional profit for every $1m in historical annual comp expense.
Actually, it's a discount applied to current workers compensation cost that's based on historical loss history. It's a good signal that worker injuries are being controlled. Reduced cost of insurance equates to increased profits.
What a load of crap! The dude only signed on for shares. TAUG has nothing. Maybe it will eventually own something in his field of expertise. He didn't bring any of value to BVAP and will probably not bring anything to TAUG either.
Nice!
First quarter revenue increased $304,100 compared to last year and about 200 new clients. First quarter is the slow period, too.
Labor Smart is moving into their busy season now. Looking forward to more updates on growth and very curious to see what the resource management app can do to improve efficiency and help the business grow.
Seriously. You can say what you want to defend TJG. Nothing you can say will change the words in his posts to those of us he wanted to stifle. The end result for TAUG is the same but it's hard the argue against the fact that some people remained invested in TAUG because of hid posts. All one has to do is read. Now he's a board member. Go figure. I just hope Seth has a clue about actually building a company that does something. His track record in past business - and I mean even prior to TAUG isn't good, at all!
You're right. Very grateful for the .0006s I just bought. Very sweet!
Please provide a link to the rules that make Ryan's purchases illegal. Ryan has some very good SEC attorneys providing legal advice and seasoned veterans guiding him. So please, if they are all wrong give us a link??
Are you serious? When he was just another poster he bullied people who had criticism of TAUG and its leadership. Much of that criticism turned out to be right on target. It's nice that you meet him. From what I've seen he's just another jerk on a stock message board. He'll have a lot to prove to gain my trust.
For new and current investors, this is a very good read if you want some straight answers about Labor Smart from Ryan Schadel.
Transcript Annual Shareholders Meeting
As noted in our 10Q from the third quarter, 2015; Labor Smart took a small stake in a company called TempBuddy. TempBuddy is based out of Ireland and owns a technology that our Skill Corps platform utilizes for its running functionality. And this is a passive investment with the added bonus of being able to learn about future technology affecting our industry from some of the guys who are actually developing it.
This is truly an amazing platform; we do expect to exit this equity position at some point, though we are in no hurry to do so, given the upside-potential. Similarly, we see Skill Corps using this technology to grow our skill trades division.
Again, this is not the full version app being tested in the field. May be a few pieces of it in there though.
Do you really think they're going to give us or the competition the most current version of the app in beta? That's only available to the test clients who have signed the non-disclosure agreement Just watch the Periscope again. This isn't anywhere close to the version being used on the field.
The app has been in beta testing in ten cities for a couple of months now. Can't wait to see how this transforms the LaborSmart operation. I believe this is the future that will make all of the processes more efficient. This includes posting the opportunity (done by the employer or LaborSmart employee), assignment of the worker to the job, tracking time, generating time sheet for payroll and invoicing and giving the client an opportunity to rate the quality and reliability of the service provided by the worker. I really recommend that anyone who hasn't seen the Periscope introducing the app should review it.
Your post is very inciteful. It seems to me that one of the stumbling blocks to growth is the that branch management are limited on how many customers, jobs and employees they can handle. Just think that someone has to take the time to identify the worker's skills, call each worker to ask if they're available and then confirm with the customer that a worker will be provided. Reading the glassdoor reviews many talk about the demands on their time and it has alot to do with these time-intensive demands. Now, even if the customer chooses not to use the app the efficiencies created for LaborSmart are enormous.
There are many companies and people who were stuck on the current way of doing things and had to sit and just watch as their model failed only to be replaced by a new idea they resisted. It's easy to see where this is going. Only a fool would resist a tool that makes it all easier.
There are many companies and people who were stuck on the current way of doing things and had to sit and just watch as their model failed only to be replaced by a new idea they resisted. It's easy to see where this is going. Only a fool would resist a tool that makes it all easier.
The current business model to manage the temporary workforce is very time-intensive for branch managers and other staff. The Skill Corps app will automate the work order request, the assignment of the worker to the project, record the time on the job, generate the invoice and time sheet for payroll and give the customer an opportunity to rate the individual worker's performance.
This app will free branch management and other staff from these time-consuming tasks and will create big efficiency improvements. In my opinion, this is what will increase profits and sales. Many managers have said the rewards are great but they burn out because of the demand of managing all of these processes plus trying to sell new clients. It seems to me this app with get the field operatives back to developing business relationships and focusing more on sales. I hope others can see where this is headed. We're on the ground floor of an explosive movement for Labor Smart!
Skill Corps is coming!
http://www.skillcorps.com/home
And don't forget as debt is paid the AS will be reduced and OS certs will be burned to smitherines!
Ryan is doing it again! Can't wait to see those $billion certs burned. Throw the .005 estimates out the window. The AS and OS will be dropping fast. I see pennyland and way beyond in the very near future!
I hope Ryan is following their lead
The nasty business of toxic lenders and those they hire to drive company stock prices down for more favorable conversion trend is coming under the microscope. The days of hiding behind aliases while conducting this sorted business are numbered.
Excerpt from linked Market Watch article about litigation AGAINST toxic lenders:
"Some of the lenders in the business are involved in employing stock bashing message boards and naked short sellers, using them to drive down the price of public companies shares, while benefitting the lenders with even richer returns."
http://www.marketwatch.com/story/kbm-a-toxic-lender-meets-resistance-by-small-cap-otc-company-in-federal-district-court-of-new-york-through-ellsworth-young-llp-2016-04-13
Looks like toxic lender's unbridled reign of terror is coming under the spotlight in court. So, this is what Ryan has been up to. Good for him!
Keep up the good work, Seth.
I said my piece and Seth responded. I'm good with what he said. I'll follow TAUG to see what Seth does next. There is a lot of work to do if Seth is serious about creating something of value. I guess we'll all see if his word is good.
Seriously, Maria. Who cares at this point. It's old business that was taken care of. What do you expect him to say that he didn't explain already. Give the guy a break!
I'll keep an eye on you and TAUG. I guess only time will tell if things are different this time around.