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He wouldn't dare to do that you. I can provide you with a reference list for people who could vouch for him.
Beaufort Ventures PLC
Metolius Capital, LLC
Asher Enterprises, Inc.
Daniel James Management, Inc.
Vista Capital Investments, LLC
WHC Capital, LLC
Tonaquint Inc.
LG Capital Funding, LLC
Adar Bays, LLC
Carebourn Capital, L.P
Gemini Master Fund, Ltd.
Willow Creek Capital Group, LLC
JMJ Financial
Coventry Enterprises, LLC
10 Holdings, LLC
Tailwind Partners, LLC
Iconic Holdings, LLC
Evolution Capital LLC
Redwood Fund II, LLC
KBM Worldwide, Inc
Firehole River Capital, LLC
Willow Creek Capital Group, LLC
JSJ Investment Inc.
Macallan Partners, LLC
WHC Capital, LLC
Redwood Management, LLC
Eastmore Capital, LLC
RDW Capital, LLC
I actually laughed out loud at that, in all seriousness I wouldn't put it past him.
You would be too, if you read through every single filing (NO SKIMMING), news promo, and listened to the 2 available conference calls. You too would start calling Ryan out on his BS.
rose coloured glasses. The longs will be smiling 2 years from now when they can finally prove you wrong when it gets out of trips.
he'd just default on you. Then write you an IOU.
Why do all the 7 buys and sells look like prop bids? Tiny Bids made just so they could lift the price higher; these are actions of desperate traders trying to generate interest.
Someone please do us all a favour. If you live near a labor smart location, apply for temp job (show up 2 days max), and give us an honest review of your experience.
What is everything that is so positive?
other than the CEO buying.
It's 2 pm, and only $40000 have exchange hands. Investors are only excited about this stock when you can pass the buck onto Ryan.
Ryan's idol was arrested today, I wonder if he shed a tear for Shkreli.
After the R/S, and more rounds of dilution, but not before someone email's Uncle Carl with some honest unbiased DD, he buys 10 billion shares, and he politely show's Ryan the door, to let a logical thinking CFO behind these horrendous books.
Google "Labor Smart Reviews" for your DD home work assignment today.
Because Ryan makes stupid decision's. But he is starting to look like a genius because he pays no one with cash, just IOU's, then dilutes them before they try to collect.
it would be funny if was accumulating all these shares to get 50% + majortity vote just so he could increase the share count sans proxy.
wait a month.
Glen will have plenty of shares available to buy, once Ryan increases the share count to 40 BILLION.
Command Center Inc 10Q
On May 22, 2015, we purchased a 10% Original Issue Discount Convertible Note originally issued by Labor Smart, Inc., a Nevada corporation, to Gemini Master Fund, Ltd., a Cayman Islands corporation (the “Note”). The Note was issued by Labor Smart on March 27, 2014 in the principal amount of $220,000, bearing a 10% annual interest rate and with a maturity date of January 1, 2015.
At the option of the Holder, the Note, together with any unpaid accrued interest, is convertible into shares of common stock of Labor Smart at a variable conversion price calculated at 65% of the market price based on the average of the lowest volume weighted average price during the twenty trading day period ending prior to the Conversion Date.
On May 26, 2015, we provided to Labor Smart a notice of default and demand for payment of $305,429 under the terms of the Note. We have filed suit in New York to collect all unpaid principal, interest, penalties and collection costs. We plan to pursue all means available to collect amounts due under the Note.
At the present time, we do not own any shares of stock of Labor Smart, Inc. and have no present intent to convert all or any part of the amount due under the Note to common stock of Labor Smart.
Based on its most recent financial statements available, there is substantial reason to doubt the ability of Labor Smart to repay the note. In its most recent Form 10-Q filed on August 17, 2015, Labor Smart has reported negative working capital of approximately $4.9 million, an accumulated deficit of approximately $10.3 million, and 2015 year to date net loss of approximately $2.0 million. Based on Labor Smart’s financial condition we have concluded that it is not probable the note will be repaid and we reduced the carrying value of the note to zero in the second quarter.
What is so great about this CEO? it's awesome that Ryan has decided to be more transparent, but the note and warrant damage is done (as per CC). It is starting to feel like when someone has been telling you a story, then in the middle of it they say "I'm going to be honest with you here". What? Weren't you being honest earlier?
Not bashing, just asking.
"No future research and development is anticipated at this time". Every time I read this it reminds me of this "we shift our expansion strategy to be more acquisition centric. Selection of these locations will be more strategic than in prior years. We will, when possible, open locations based on needs of already existing clients".
More strategic yet you only seem to scratch the surface with demographics research in your first year after that it seems to have taken the back burner which is probably why some purchases failed to prosper. LTNC Stop throwing your money into the dark.
I'm convinced this is the smartest CEO ever. You or a lender give's him money and he gives you a little piece of paper with IOU scribbled on the back, and a week later he's panhandling for more making your little piece of paper worth even less.
On December 9, 2014, the Company issued 390,000 of shares of common stock to employees for services rendered by them for an aggregate fair value of $429 ($0.0.0021 per share) based on the quoted market price of the shares at time of issuance.
$429? lol. Just write them a damn cheque. Nope not this genius, he offered them shares that were already scheduled to be diluted like a boss.
Too many cheerleaders with rose coloured glasses, and too much false information spread by lazy, bitter and angry investors who should have pulled out way before it got this far into super sub penny land. It's hard to find a good source of information here, do some real DD people leaving no stone unturned, and protect your self when you loan money for shares to these professional panhandler's.
Continued lender list from 2014 -2015. almost 30 different lenders. If this isn't robbing Peter to pay Paul I don't know what is.
2014-2015
KBM Worldwide, Inc
Firehole River Capital, LLC
Willow Creek Capital Group, LLC
JSJ Investment Inc.
Macallan Partners, LLC
WHC Capital, LLC
Redwood Management, LLC
Eastmore Capital, LLC
RDW Capital, LLC
2013-2014
Beaufort Ventures PLC
Metolius Capital, LLC
Asher Enterprises, Inc.
Daniel James Management, Inc.
Vista Capital Investments, LLC
WHC Capital, LLC
Tonaquint Inc.
LG Capital Funding, LLC
Adar Bays, LLC
Carebourn Capital, L.P
Gemini Master Fund, Ltd.
Willow Creek Capital Group, LLC
JMJ Financial
Coventry Enterprises, LLC
10 Holdings, LLC
Tailwind Partners, LLC
Iconic Holdings, LLC
Evolution Capital LLC
Redwood Fund II, LLC
I.R.S. Payment agreement
On March 17, 2014, the Internal Revenue Service agreed not to take collection action against the Company for payroll tax liabilities as long the Company remains current and makes monthly installments against outstanding liabilities. The agreed monthly installments are $5,000 which increase to $10,000 on July 28, 2014 which further increase to $15,000 on July 28, 2016.
Qwik Staffing Solutions, Inc acquisition? Shirley’s Employment Service, Inc acquisition?
are these two purchases still operating as a subsidiary of Labor Smart, Inc.?
Mr. Matthew J. Rodgers has been an Executive Vice President of Operations at Labor Ready, Inc. (a division of True Blue
He served as a Director of Labor Smart, Inc. from February 2013 to March 9, 2015.
Definitely a retention issue. Hopefully Glen doesn't throw up the duces and is in for the long run.
Its one of the few time's he didn't pass the loan onto dilution or the shareholder's backs at about 58% of the share price.
What happened to Shannan Manix?
Why did she only last 9 month's on the board of directors?
What happened to Jay Reynolds?
Started in March 2014 now working as Sr. District Manager with Kelly Services.
I was excited when I read about these two former Trueblue employees crossing the line over to Labor Smart, but there seem's to be a retention issue.
Robbing Peter to pay Paul.... 2013-2014 LTNC
Seems like the from 2013-2014 the CEO borrowed from almost everyone who would pick up his call.
Beaufort Ventures PLC
Metolius Capital, LLC
Asher Enterprises, Inc.
Daniel James Management, Inc.
Vista Capital Investments, LLC
WHC Capital, LLC
Tonaquint Inc.
LG Capital Funding, LLC
Adar Bays, LLC
Carebourn Capital, L.P
Gemini Master Fund, Ltd.
Willow Creek Capital Group, LLC
JMJ Financial
Coventry Enterprises, LLC
10 Holdings, LLC
Tailwind Partners, LLC
Iconic Holdings, LLC
Evolution Capital LLC
Redwood Fund II, LLC
It is starting to make sense as to why the share count got out of hand, so quickly.
DD from inception to 2013.... I will continue from 2013 to present once I finish writing this and walking my dog.
The company experienced a very rapid growth from 2011 to 2012; from opening their 1st location in Nashville, TN November 12, 2011 to opening their 6th location on April 25th, 2012. The company seemed to be doing well with loans from the president that he was actually not collecting interest as per the promissory note's.
It seems that the growth outgrew the president's financial capabilities and this is were the stock options for outside parties (Infinity Global Consulting Group Inc, warrants began to be issued, and the first convertible promissory note with Evolution Capital LLC was agreed upon for $130,000 at 12% with a variable conversion price of 50% of market price.
With cost of services hovering around just above 80% right now, Ryan began to take his first salary at $2000 per week. It appears that the overzealous growth strategy needed to be reeled in a bit, because the financial's were starting to look ugly.
I will continue, later...
The Debt issues worry me, the share count also worry me, the cost of revenue need a substantial improvement, the IRS issues require more DD research before I would weigh in on them, but you have to admit going from $0 revenue in 2011 to $20M in 2015 is substantial.
Im currently going through all of Labour Smart's filing's, starting from it's inception.
I have day traded it for a quick flip over the past 4 days, but have also holding a long position of 4,000,000 @ 0.0004. GLTA.
Words, in their singular or plural form, such as “may”, “expect”, “believe”, “intend”, “plan”, “anticipate”, “estimate”, “project”, “continue” or their derivatives or comparable terminology used in connection with any discussion of future operating results or financial performance identify forward-looking statements.