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If you've done your DD, then you've answered most of your questions to me. I won't attempt to make money on Ryan Schadel because any money I put into LTNC will ultimately benefit a snake for a CEO. That would mean that I am here out of pure spite. At first I was (beginning in 2014- you'll see that I strongly supported the stock in 2013), but I've come to accept that Schadel is simply a dirtbag who represents the lowest of what the stock market is. Now I stick around the board as sort of an interactive and ongoing study. In as much as I know Schadel to be a poor excuse for a CEO, he has suddenly gotten quite creative in his efforts to promote the stock. I guess that's what happens when YOY revenue is no longer a marketable point of interest and when the company is being liquidated in a futile attempt at survival. Schadel had a good thing in LTNC and wrecked it beyond hope. The latest NT filing just adds to his pile of failure. There may still be flipping opportunity here, but even with classic pinky string-along games this stock can't break trips. GLTY
Wow! Late filings again, and again, and again...
Well, we were practically assured that would happen when his pump scheme fell through and had to postpone his "amazing" announcement by a full week.
lol
How is two weeks ago not current? What has Schadel done that is any more current? Oh yeah, he pumped up an announcement for Good Friday, then moved it up to Thursday, then moved it back a week- to April Fool's Day.
ROTFLMAO!!!
Unbelievable is exactly right. OTC pinky games.
Dumb...just dumb is how Shadel has run this business. Even he admitted on Twitter that the reserve requirement is still enforceable on the notes. He has repeatedly withheld material information from shareholders for months. When was the last time he updated shareholders on the status of the $1 million in late 2013 payroll taxes? TSGL might be a shell, but at least they reported the status of tax payment arrangements on their last Q before selling their soul to Schadel.
All the speculation I provided (there wasn't much) was based on historical performance. Anything else is PURE speculation based on absolutely nothing but the cheapest form of pinky hype.
Schadel can get loans...sort of. It's in the last report: $175,000 at 59% interest requiring immediate daily payments was secured in the 3rd quarter of last year.
He also has a nifty "loan" from the IRS for $1 million in late 2013 payroll taxes.
Anyone can get a loan if they have enough people willing to pay for the hype.
OS is 7.41 BILLION shares; AS is 8 billion...reverse split is coming. The AS reduction was a desperate move to stop multiple note holders from converting in February and March despite forbearance agreements. The only thing that means is that Schadel fell behind on payments AGAIN and now he is in violation of every single note for failing to maintain a share reserve for conversions.
That "process of a $2 million buyback" is nothing of the sort. It was an authorized buyback with money that doesn't exist unless he can leverage his shell company with the puppet CEO who is also his CFO.
The CEO purchased billions of shares at no bid with a $220,000 bonus he gave himself. It's smoke and mirrors. The 700 million shares he retired (ALL of them bought at no bid by his own admission) was AFTER 1.3 billion shares were diluted within 30 days at the end of 2015.
Skillcorps is a complete joke. The overhead, liability, and lack of customer service for professional clients seeking to minimize the headache of human resources with temporary labor makes it a bunk concept good only for pinky promos.
Over $800,000 in toxic debt "reportedly" taken off the books...ROTFLMAO!!! This CEO can't survive without insanely expensive loans- 10 pages worth of LATE loans in the last Q. If $800,000 was removed, then we can expect to see AT LEAST $1,000,000 in new loans.
All remaining note holders are fuming at Schadel's AS reduction stunt. We can expect more litigation as a result.
1 billion certificate...meaningless.
Live announcement on Periscope was supposed to be today, then it was moved up to yesterday because of Good Friday, then it was moved back a whole week because of Good Friday...the best of pinky games. String em along, Schadel!!!
Smoke and mirrors. The CEO gave himself a $220,000 bonus to buy those billions of shares when the stock was at no bid. I'm sure he's "grateful" to all the shareholders for paying for his position. It doesn't get any more pinky games than that. Next thing you know he's going to start a promo campaign with a shell company that he's going to "sell branches to", but fail to detail that his own CFO runs the company and that he has a controlling interest through shares bought with LTNC capital.
But that would be beneath this CEO, right? lol
7.4B OS, 8B AS, 7.5B owed, $2M to IRS
The CEO is such a snake. He doesn't give a damn about shareholder value so long as he can keep the IRS off his back and make his McLaren payments.
Preach! It's good to see your input continues. Getting looney around here!
It's amazing isn't it? The CEO pumps out pinky promo statements and it's drunk like cherry KoolAid on a summer afternoon. All this for a CEO who has diluted the stock to no-bid, then pumped it up to high trips while branches close/liquidate and "deals" get spun with shells run by his current employees on top of a giant pile of late debt. Meanwhile, people freak out about the home address of a loser CEO of a PUBLICLY TRADED OTC-Pink COMPANY being posted. I don't want anything bad to happen to Schadel's family and I don't condone posting his address, but the idiot opened that can of worms entirely on his own by abusing his shareholders. If he hadn't played stupid with other people's money it wouldn't be an issue. Maybe the McLaren will get everyone out of Dodge.
Has a reverse split been authorized already???
lol. I am not the slightest bit religious, so I wouldn't have had anything to say about releasing info on Good Friday. At least he would have kept to his word. He said a few days ago that he would move up the announcement to today...what happened? If a deal is done the deal is done. Nah...he got caught trying to pull a fast one with the whole "arms-length" deal and didn't just move the announcement to the next business day- HE MOVED IT OUT A WHOLE WEEK!
ROTFLMAO!
So Ryan Schadel is manipulating the stock price? Looks about right.
APRIL FOOLS!!! Announcement postponed to April 1st!
What a shit CEO!!!
Ryan Schadel on Twitter:
Schadel is Catholic and stated earlier that the announcement would be on Good Friday, so what does that say?
"Screw Good Friday if I can make a good promo out of an "arms-length transaction". OOOOPS! Nevermind!!!!"
Funny...I challenged his "arms length deal" today on Twitter. He blocked me and now he has to "postpone" the proposal. lolololol!!!!
Notice how careful Ryan was to say "proposed" transaction? He likes to speak with huge gaps in meaning. It's smart on his part.
Mostly, it's worth just ignoring. The "proposed" transaction does not meet the "arms length" definition. Furthermore, the result of the transaction actually goes even further against the arms length principal by strengthening Schadel's control.
Besides, TSGL has exactly $0 in revenue after it sold all of its assets and liabilities on December 31st.
That's not fair. Ryan's ego is worth at least 150 branches. He just doesn't have the $500,000,000 he would pay to acquire them. Victim of circumstance, really. So sad. That's obviously why this company is so "undervalued".
From your link:
"Arms-length transactions"
Ryan Schadel has this fantasy that an arms-length transaction can be called one simply because a third party determined the value of the transaction. That's complete bunk. There needs to be no relationship between the parties doing the transaction and there can be no mutual benefit. Schadel completely jacked that qualification when he announced that an LTNC buyback would be contingent on equity capital funding from TSGL and that branches "sold" to TSGL will operate under the LaborSMART brand. Furthermore:
A/O Dec 31st, TSGL is a shell company in which LTNC has a controlling interest and LTNC's CFO, kimberly Thompson, is also CEO of TSGL.
The proposed deals with TSGL are as shady as they get.
Here's the definition of an arms-length transaction:
lol...here's to profits, wherever they may be. How's that?
10K next week is optimistic. Schadel is notorious for NT filings that delay awful disclosures in the reports and the audited annual report is usually a victim of delay. It probably won't come out until the second half of April.
PM'ing stupidity gives exactly ZERO credibility to "investing" in a trip-zero pinky promo stock. Geez, man. Flip it, don't marry it.
Yet vague tweets are "proof" of operating income. lol
Not paying debt has been the ONLY way Schadel has been able to manipulate the numbers to look better than they are. According to his tweets, he hasn't paid anywhere near the $150,000 per month he needs to satisfy the forbearance agreements and God only knows what's going on with the payroll taxes.
However, he has a $1 million sale from last year that, even though it barely put a dent in the debt and resulted in no cash increase, will make the losses look less than they actually were.
That is not proof, SIIX, but I think you already know that. All that is is a snapshot of some balance sheet and all of Schadel's tweets are to be construed as "forward looking statements" per his disclaimer. My guess is that it is supposed to be for a single branch and the only branch that Schadel keeps pumping up as if it speaks for the entire mess of a company. I find it interesting that employee benefits cost a whopping $65.72 while charitable contributions was $561.11. It's no wonder he has such a high turnover rate.
I've already posted about that. The gross profit he reported for the year exposed that Q4 generated $570K in GP. Compare that to 2013 4Q GP of $400,000 and keep in mind that branch count grew 33% over that two year span.
12% growth ain't necessarily shabby except branch count grew 33% by increasing the toxic debt 300% to $3.5 million (late), doubling payroll taxes payable to $2 million, and every new loan looking worse and worse such that the latest $175,000 loan is at 59% interest and requires immediate DAILY payments.
Of course, then we also see that factor financing has cost in excess of 10% principal. That means Schadel spends 10% of revenue just to be able to get it before the customer can pay it.
And now Schadel is trying to have everyone believe that he can afford $150,000 per month to pay off LATE toxic notes with 20 branches when he couldn't pay those notes with 30 branches. Not just that, but $150,000 for the notes, $35,000 per month for the 59% interest loan, $10,000 (soon to be $15,000) per month for late 2013 payroll taxes, plus whatever he has to pay for the additional $1 million payroll taxes payable that has accrued.
PLUS a $2 million buyback...while recording an expected loss of $4 million for 2015 alone...ROTFLMAO!
Positive cash flow? lol!!! Prove it. The last report released was in November and there is positively no cash flow. Deficit spending is the Schadel way.
OMFG...nevermind. GLTY.
Yeah? You got proof? No. Nothing but sparkly rainbow unicorns. There is no money for the buyback (certainly nothing close to $2 million) and let's just say for shits and giggle that there actually has been a buyback...
The stock is about 33% off its 52 week high of a whopping 13 HUNDREDTHS of a penny.
I am confident that for every dollar Schadel MIGHT be spending on a sham "buyback" to keep the promo going he has spent $2-$3. Every year it's been the same and that is recorded for everyone to see in the $3.5 million of late toxic debt and $2 million of late payroll taxes along with new loans at 59% interest that require daily payments.
Dude...just stop. He gave himself a $220,000 bonus to buy those no bid shares in an admittedly creative promo campaign. At the same time, he took out a $175,000 loan with 59% interest along with an additional $500,000 in toxic financing and that's just per the last Q. So, Schadel hasn't purchased anything. He made sure shareholders footed the entire bill and then some.
Ryan Schadel tweets gross profit of
$5,053,758 for 2015. Trouble with that number is that it shows anemic growth relative to debt. It means that Q4 had a gross profit of $570,000. 2013 Q4 gross profit was $400,000 with half the branches barely 6 months old. That was 15 mostly brand new branches in 2013 vs 20 branches at least 1.5 years old in 2015.
In other words, gross profit increased only 12% (with branch count) over 2 years with much more mature branches and, despite only a 30% increase in branch count, the toxic debt has risen nearly 300% from 2013 to $3.5 million and payroll taxes payable has doubled to $2 million.
Ugly, ugly, ugly lead up to the 10K.
lol...what "record". Got a link?
LOLOLOLOL!!!!! Nice try. It's "Christopher Ryan Schadel". I realize it's a lot of syllables, but I assure you that Google can handle it.
Per the first S1 (4th amendment...yeah, 4 times):
You may have missed the excitement last year when Schadel awarded himself a $220,000, and then started quietly buying billions of personal shares in November when the stock was sitting at no bid. Only after he got himself a huge chunk of shares did he reveal that ever since MAY of 2015 note holders supposedly could not convert.
So, for months he was sitting on material information while buying up stock for his PERSONAL PORTFOLIO. Then after months of silence suddenly goes on an extended promo campaign and brags about his new McLaren.
Talk about stock manipulation for personal gain...birds of a feather.
Well, that's just par-for-course being as Schadel was Tweeting last year about his private communication with Martin Shkreli regarding investment advice right before Shkreli was arrested for securities fraud.