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CEO thinks SEC investigation is "arbitrary" impact on pps.
Many days of declining pps, lawsuits, and dilution.
LOL...no buyback with restraining order from fraud suit. Even the CEO had to admit that. It's not as if there has been any proof at all of a buyback. Just the CEO giving himself hundreds of thousands of dollars in bonuses to inflate the volume with his personal stock purchases.
Breakout to what? .0013? That was 5 months ago. What's been stopping it all this time? In fact, why has the pps dropped 50%? Share selling scam.
Delinquent 10K, but "revolutionary app"...ROTFLMAO!!!! Pinky scam!
Wow...how bad has LTNC business practices been if the app is intended to avoid screwing up the order? lol...this company is showing its ass no matter which way the story is spun.
But CPW, the app is REVOLUTIONARY! Any client would feel priviledged to have to download it, sift through hundreds of applicants who may or may not have transportation, tools, experience, or even a pulse and then hope they show up while he looks smugly at his competitors who are STILL using the outdated model of calling a full service temp agency like True Blue.
"Haha! YOU have to dial up to 10 digits and talk to someone on the phone, while all I have to do is download my AMAZING and REVOLUTIONARY app and tap...tap...register...tap, tap, read hundreds of applicant profiles...tap, tap, tap, wait to see if they show up....hey...what happens if they don't show up or don't know what the hell they are doing? Aw, never mind...it's REVOLUTIONARY!!!"
OMG...are you seriously suggesting that an app would make it easier for a client to find 30-100 workers than a simply phone call to a decent temp agency?
Wow.
Tools abound with Schadel. Tools for selling shares, that is.
Ryan brings value to his personal bank account, for sure. Shareholders just have to pay for the lawsuits to get the cash there.
Yeah...because "intuitive" defines customer service, human resources, and logistics. You know, the kinds of things with which people get advanced degrees to enhance their careers. Just "intuitive".
Looks like the app is going to put LTNC out of business no matter which way it goes. lol
Skill Corps is a joke: a pinky scheme to sell shares to naive investors who know nothing about what it takes to run a business or how the temporary labor industry works. Who seriously thinks that a construction foreman has the time to sift through potential temp workers on his phone that is constantly ringing while he is dealing with on site issues and then hope that the worker is actually checking his own phone and will actually show up? And that's just one worker. Never mind what a monumental waste of time that would be when a client needs a crew on multiple shifts with various skill sets.
Imagine explaining to your client who is fronting millions of dollars for a project that you are behind on because the workers you ordered on an app didn't show up or weren't qualified, but don't worry: it's "revolutionary". lol
Skill Corps is basically LTNC's way of spelling bankruptcy.
Sure would be a good plan if history supported it. But the fact of the matter is that the company isn't even close to profitable and the company is hemorrhaging cash to stay out of court.
No 10K means nasty financials. There is no other way about it.
That's called stock manipulation: aka, fraud by CEO.
You're joking, right? Three new lawsuits were revealed in the last 8K and the lawsuits from Command Center and Prometheus were PR'd by the plaintiffs and responded to by Schadel's Periscope "Look at MEEEEEE!" videos.
That's five known lawsuits. Pretty simple.
So, when Schadel is forced to pay off 3 of the delinquent debts specifically to stay out of court (per the 8k) we can rest assured that the delinquent 10K is hiding even more litigation.
Proof would be a 10K, not tweets. How many lawsuits are there? There were at least 5 before the last 8K. Ryan sure likes to drop those bombs on his shareholders, doesn't he?
Look at all this BOOMAGE! lololol...SCAM! Still no 10K???
The 2015 10K is delinquent. The 2016 Q1 is not even on the radar yet. Schadel has 6 months from November 16th to file a report or LTNC gets downgraded again to OTC- No Information.
Loss for Q3 was $1.5 million. It was offset by the liquidation of 5 branches. Despite over $1 million in cash for the branches, losses increased $500,000 and cash-on hand ended at a mere $130K while payroll taxes payable doubled to $2 million. That sorry financial state was then followed with numerous lawsuits for failure to pay on delinquent debt.
Bankruptcy on the way.
Must be the same "voodoo math" Schadel uses to calculate that his company worth negative $5.5 million should be trading with a $35 million market capitalization after closing/liquidating 60% of the company and going delinquent on the audited financials with at least $2 million left in delinquent toxic debt and another $2 million owed to the IRS.
lol
Those notes cost WAY more than principal...like 2.5x more. But that would require using the same math that accountants use in order to understand it.
That's funny. Your link talks about how companies are preparing for quarterly earnings reports while LaborSMART continues to be delinquent with last year's annual report with not so much as a peep about Q1.
Fraud.
Now that there is a Temporary Restraining Order against LTNC in association with the fraud suit we can rest assured that any "buyback" is nonexistent even without the delinquent 10K to verify its nonexistence.
Steven Maese via Twitter
Schadel's suit record is 0-1. Noteholder suit record, so far, is 3-0 with upwards of 8 more to go.
Schadel can talk all day about a counter lawsuit, but the glaring fact is that he has neither the resources nor the standing. Judges don't like frivolous claims and attorneys don't charge cheap for that kind of bluster just to pump up a stock.
WAAAAAAAHHH...toxic note holders SUCK!
That pretty much sums up the extent of those links. If idiot CEOs mismanage corporate finances, then they have earned the privilege of being targets for predators. That they whine about it to this extent just goes to show how inept they are.
Clearly, the 10K is still delinquent.
Schadel sure can spin a story, though. Maese nails him on the status of the fraud lawsuit, but Schadel used it to make it seem like LTNC is actively buying back shares. All while the 10K continues to be delinquent. What an absolute fraud.
WTF is with the "buyback" talk? It's not a buyback. I think we know this, but just in case: IT'S A DESPERATE CEO PUMPING HIS FAILED STOCK WITH COMPANY CAPITAL HE RECENTLY ACQUIRED THROUGH YET ANOTHER TOXIC LOAN FOR PERSONAL SHARES.
lol...naturally, the government doesn't charge steep penalties for abusing the money collected from clients that is supposed to be used toward payroll taxes. I mean, it's been all over this board that the IRS agreement for $1 million in delinquent taxes is like a "cheap loan". Say...LTNC took over TSGL, so let's take a peek at their 2015 3Q and see what their late payroll taxes cost them.
BTW, exactly which LTNC branches did TSGL supposedly purchase? Seems to me that a multi-million dollar deal such as this should merit full disclosure, but...hmmm...I can't find it.
Let me get this straight: we acknowledge that full disclosure is required in the agreement, but not disclosed in the agreement is the fact that the CEO of TSGL is also the COO of LTNC.
The employee of a related party is getting a loan for the purposes of buying a minority interest in the related party's business activities including direct payments to the related party's delinquent debt, but it's an "arms-length" transaction.
lol
A list of current shareholders seems to also be missing from the TSGL/LTNC agreement (mentioned in Schedule 7.4).
We know Schadel is hiding catastrophe. There is no good excuse for not releasing the 10K. And every day that the 10K is not released is a day assuredly closer to the business shutting down for good.
Maybe that bitcoin polishing machine will finally come around for a "strategic shift in focus into the multi-billion dollar digital currency market".
The CEO has NEVER spent his "own" money for stock. Ryan Schadel is ON RECORD for having diverted as much as $220,000 in company capital into personal bonuses for the purpose of personally buying company stock from .0001 to .0007 for his now tiresome promo scheme. The last time he did this the stock went up to .0013. Now the stock is barely able to cling on to .0007 and the reasons are endless for why the stock will continue to go down: no more long term investors (only flippers), dilution that has been verified as recently as last month despite the lack of 10K, more toxic debt, IRS trouble, SEC trouble, etc., etc., etc.
How funny that people are giddy over the CEO personally owning so much of the 7.41 billion OS, yet the pps is steadily going down for the year and the CEO is delinquent on the audited financial report while news pops up right and left about another lawsuit for his stupidity.
***DILUTION, PEOPLE!***
And still not a single shred of evidence of a bona fide stock buyback.
SMH
lol..."Incorrect numbers"...where's the 10K?
My numbers are based on the last financial filing (aaaaaaall the way back in November) and subsequent reports. If there is something supposedly better, how strange it is that the CEO would allow the 10K to go delinquent.
The facts speak for themselves, but I'm sure 'ol Ryan will put out a tweet about how "incorrect" his critics are. Tweet away, Schadel. Maybe some sort of Twitter magic will serve your shareholders better than your "voodoo accounting" before the IRS, SEC, and delinquent note holders collectively shut your a$$ down.
Let's verify "buyback" with the 10K...OOPS! Delinquent 10K!
How frustrating for all this so-called accumulation going on since January- even as far back as November, according to some- yet the pps continually ratchets down, down, down, down while new dilution and lawsuits are verified about every 4-6 weeks.
6 hundredths of a penny with 7.41 billion OS and at least $2.5 million worth of delinquent toxic notes to cover...ROTFLMAO!
Sure does clarify that Schadel does not like to communicate with shareholders when the IRS effectively OWNS the company because he couldn't see it fit to forward taxes collected from clients specifically for the purpose of payroll tax.
Say...what happened to that money anyway? The company went from 15 to 32 and now down to 13 branches. I'll bet the IRS has taken a very keen interest on the deteriorating assets that originally secured the agreement (15)- especially when so little of the funds received from liquidations have actually gone toward the tax debt AND when the payroll taxes payable DOUBLED in the second half of 2015.
lololol
I almost choked on coffee with that one...LMAO! Let's see the links to the reports Schadel provided about the 3 lawsuits that he revealed in the last 8K that he was FORCED to reveal in order to detract from at least 2 other lawsuits (including one alleging fraud) that he was also FORCED to openly discuss due to the plaintiffs having released PR's on the suits.
Oh, and where are the updates on the $1 million in payroll taxes he owes the IRS from 2013. How about the additional $1 million for 2015?
How about a link to the time Schadel reported that he is in breach of contract with every single note holder, which lead to the current mass of lawsuits.
Oh, yeah...and how about a link to the 2015 10K this "transparent CEO" released.
ROTFLMAO!!!!!
Sure shows, doesn't it? lol. Where's the 10K???