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LOL...LTNC's reported net worth= negative $5M.
Still want to compare to an international NASDAQ company with government investment?
Oh, please. That shit won't fly. The total note payments Schadel has posted for December and January is $120,000. He needs $140,000 per month just to keep up with the $1.7 million owed by the end of November 2016. And that's if $1.7 million is all the note holders are demanding in cash. Schadel never actually says that. In fact, he said in the recent video that the note holders took a "haircut" off their expected return on the notes. When factoring accruing interest and fees it becomes apparent that Schadel owes far North of $3.5 million dollars in toxic obligations over the next 10 1/2 months. It's a good thing for his struggling promo campaign that he doesn't have to disclose his debt until April.
That is, total debt including $2 million in payroll taxes and various additional loans.
The reports are plain as day: $0 earnings!
Talking about any kind of PE ratio is a new level of delusional.
1.3B shares in 45 days "accidental dilution". SMH
That is not true at all or the CEO is a bigger fool than he presents himself as. No CEO takes off the table any tool available including an RS. Maybe you missed the talk about the failed S1? Maybe 7.2 billion shares OS isn't understood?
Do you really want to bring up the McLaren Schadel bragged about while 1.3 billion shares were being diluted? And all while bitching about "haters" and "trolls" on Twitter. All sorts of respect for "longs" from this CEO.
What? No he didn't. The CEO purchased the vast majority of his 2 billion shares in November after giving himself a $220,000 bonus. This is why the share burning stunt was complete bunk. They were personal shares purchased with inappropriately redirected company capital right before 1.3 billion additional shares were issued for note holders. Nothing but a pinky show.
I think Schadel has talked himself into that corner. I will give him credit for his determination to not RS until the company is healthy, but he has no resources that he has revealed to achieve that. In fact, he has been burning up resources (no pun intended) at an alarming rate on outside ventures instead of cleaning up the balance sheet. I see BK on the horizon. He wants Labor SMART, but like a kid with a delicate toy he has beat the hell out of it. Eventually, he has to face that fact to the fullest including his recklessness with payroll taxes.
For now, though, there is plenty to focus on with Ryan's promo.
Got a chuckle out of that.
Ryan Shadel has a LONG way to go before he has earned the trust that a reputable CEO expects. Until then, the sad reality here is that LTNC is indistinguishable from any other heavily diluted pinksheet and that is entirely his fault. Labor SMART the company is very sick. It doesn't need promo games like what's been going on.
Anyone remember THIS from a week ago?
Please RT Ok this announcement is so #HOT I have to move it to Thursday. 4pm. Follow me on #Periscope $LTNC pic.twitter.com/un6OelDlDk
— Ryan Schadel - CEO of $MVCO (@CRyanSchadel) January 9, 2016
People were warned. This CEO has nothing worth investing in. All he had to do was outline a step-by-step strategy for rebuilding the company from his reckless spending. He could have introduced some of his staff at the office and taken a tour of the facility while discussing his plan to make it more personable. He could have put something brilliant together, but all he had was a stunt because, in truth, that's all he has.
Funny how he talked about not being focused on share price, but in the end, that's all he has been trying to manipulate. Even his twitter posts are deflated over the trading activity today.
It's a lousy CEO who doesn't understand that genuine share value begins with a strong culture of responsible growth- not smoke and mirrors to cover for the costs of his huge ego. Rest assured, those toxic notes will eventually hit the market in some fashion. $35,000 this month plus $80,000 last month does not come even close to the $140,000 per month he needs to keep up with the agreements.
Schadel has said as of now "no more conversion". He will now be held to that while 7.2 billion shares chokes the OS. His only other option is bankruptcy.
Why should anyone "move on" from something the CEO is trying to hype up? The AS is now 7.2 BILLION. It was 6.6 BILLION at no bid. There is no reason to think this stock isn't going straight back down to those levels and worse. Schadel is a snake oil salesman.
We're not talking about flippers, we're talking about the integrity of this CEO and his lack of ethics. I'll never deny that an OTC stock can be a great play for a flipper, but just like every other scam out there LTNC is just a pipe dream waiting for enough "longs" to dump on. Schadel has already done that impressively.
The December CC was on the 7th. The OS was 7.3 billion, which was up From November 17th of 6.6 billion. Now we see that the OS on the 14c was 7.89 billion.
There's no fighting the facts. Ryan Schadel is running an ATM.
You've been saying that for two months now while the CEO diluted 1.3 billion shares. The CEO played every shareholder who thinks this is a long investment. He didn't mention revenue, or expansion, or a workable plan toward profitability in that "super hot and amazing" video.
Played.
7.89 billion shares minus 700,000,000 is much closer to 7.2 billion and that's, of course, if Schadel isn't electing to convert billions more like he has for the past month and a half.
I wouldn't say the CEO "lies", but he can sure drum up a good story for anyone who doesn't bother to read the filings.
I got a kick out of being mentioned several times in Tweets on the periscope broadcast. Man, I had no idea I was that popular! lol
Either that or the only people who are interested at all in this stock are iHub users. That's probably all we need to know.
Like you said, flippers paradise...at least, it was.
"HOTTEST NEWS ON THE OTC"= ANOTHER BUST
People can read, Ryan Schadel, and your reputation is well known. Huge dilution after saying there wouldn't be. The CCNI lawsuit is going to cost you even more cash that you don't have. And hey, what about that $2 million you owe the IRS???
What a freaking joke!!!
CEO OFFICIALLY RUNNING ATM FOR NOTE HOLDERS
1.3 billion shares diluted BY THE CEO's OWN CHOICE over the past 2 months. OS is now almost 7.2 BILLION even with share burning stunt!!!
AS 20 BILLION!
Buyer beware!
CEO DILUTED 1.3 BILLION SHARE SINCE NOVEMBER
SHAREHOLDERS PUNKED! NOTHING BUT HYPE IN LATEST VIDEO
The CEO did a stunt where he burned 700,000,000 shares he purchased at .0001 pps. He even said in the video they were worth $80,000 when he bought them RIGHT AFTER GIVING HIMSELF A $220,000 bonus for all his "great" work with his no bid company.
A little backstory is that the 3Q report released in mid November showed 6.6 billion shares outstanding. Then, the CEO had a conference call in which he said that $3 million worth of late notes were renegotiated so that note holders would accept cash payments and as long as he paid on time over 12 months they couldn't convert. HOWEVER, Schadel reserved the right to convert at his discretion. THEN, we saw a blog post by Schadel that mention 7.3 billion shares outstanding. Shortly after that, the CEO announced "something hot" was going to be announced on 01/14/2016 AND BLOCKED THE TRANSFER AGENT FROM RELEASING SHARE STRUCTURE INFO. He was asked numerous times on Twitter what the current share structure is, but wouldn't answer it. Then, we got the share burning stunt and a hollow promise that we see on the OTC every day about retiring "up to 12 billion shares". Finally, the CEO released a 14c that revealed the OS was 7.89 BILLION shares!!!
7.89 BILLION shares! The CEO himself diluted 1.3 BILLION shares from the November Q after telling everyone there wouldn't be dilution! Even with the share burning stunt and the recent PR shit about cancelling shares the OS is nearly 7.2 BILLION and he does not bother to mention that in the PR!
False: "Up to 12 billion" AS reduction, which is a common OTC cover for maybe just 1 billion...or none. Just like the S1 for an uplist that never happened.
So, less than 10% of the OS that was purchased with a $220,000 bonus he gave himself burned in a trash can. What did he say it was worth when he bought it...$80,000?
Great show, Ryan.
Great stunt. Great job cherry picking softball questions, then pretending like there weren't other questions. "Why are advisory board members not purchasing shares" was one not addressed.
Gotta' love how CCNI is run "piss poor" but has a market cap of $28 million and "doesn't have the excuse of toxic notes"....because they don't have toxic notes.
"I have a giant ego"...and only someone with a giant ego talks on a live video about getting revenge on a company that played you.
No mention whatsoever of TSGL. Very expensive shell company for not being part of "huge announcement".
I've said it before and I'll say it again: Ryan Schadel genuinely believes his own hype all the way down to no bid and where the pps is today. Great stunt, but the next 6 months will be revealing. The company is shrinking, so how he expects to implement paying off the toxic notes in 10 months when he couldn't do it in much better times is still unanswered.
AS decreased "up to 12 billion". Reserves haunting AS.
Let's see if he actually says current OS.
There is an awful lot of anxiety over the "big news" today. If you're not a flipper and think this is a long investment you have to ask yourself a few things:
Why would a CEO string along shareholders like this if he is actually trying to build legitimate market strength?
Why wouldn't he just say what he expects to happen, then announce whether or not it actually happened knowing full well that it was going to?
Why block the share structure during this circus and not answer questions directly about its current status?
This stock has seen a very large run already even by OTC pinky standards and a standard rule is don't chase a run. The flippers are at the ready on the sell button. Don't get caught waiting too long on "promises" from a CEO who has only delivered ruin for longs.
Correction: No conversions that weren't already obligated. Even Ryan Schadel has acknowledged that the shares are still obligated, just not convertible by the note holders as long as he pays cash on time every month. Ignoring the fact that he has reported only about $80,000 in payments to undisclosed recipients which means he is now about $120,000 short of what he needs to keep up, Schadel openly reserves the right to convert the notes at his discretion.
What to do when you don't have the cash to pay note holders and the IRS....
Note holders have to cash in on the ATM.
This is, after all, the OTC and Schadel owes them a lot of money.
What's the deal with using a mobile specific platform for the announcement? Is he getting ready to "dynamically evolve the business model" into a mobile gaming stock?
Well, any more than it already is a gaming stock...
http://www.makeuseof.com/tag/can-use-periscope-app-pc-mac/
IF Schadel has any kind of news that could legitimately save this stock and his shareholders it will take at least a year to see if it actually works. I'll still be around to acknowledge that he corrected his course. In the mean time, I will be relentlessly on his tail until either that happens or (as I expect to happen) the SEC/IRS shuts him down.
Ryan Schadel has to be pretty damn nervous right now. His promotion scheme leading to "the biggest announcement on the OTC" has been a flop. All it did was generate a 52 week high (oh so briefly) of .0013 pps two days ago.
.0013...lol
Even with that 52 week high, this stock has already seen a 1300% run and volume is stagnant on the day of a "huge announcement". Chasing runs is a dangerous thing on the OTC.
Profits were good for the flippers, but all it takes is for the news to be anything less than spectacular for this to permanently head south and we already know he doesn't have it or he would not have needed a 2 week promo.
Reverse merger with a shell company. Hardly innovative.
Definitely OTC scam material, though.
A young CEO overspending on EVERYTHING. Please, let's stop pretending we don't know the game.
Look back in February of this year for one of Schadel's "amazing" plans and how well they work out. He was tweeting up a storm about uplisting and blah, blah, blah. That was trashed after billions of shares were diluted and the S1 was retracted.
Before that, he was going on and on about expanding and reaching "critical mass" and getting a "minimum" of $30 million in 2014 revenue. After 32 branch openings/acquisitons, 12 have been closed or sold off and most within months of opening and revenue barely made $24 million.
Before that, he was yammering about $60 million in revenue for 2015. Only $21 million will be generated.
Just failed plan after failed plan after failed plan...
A CEO who gives himself huge bonuses to buy those stocks and then uses those stocks as collateral for more loans to keep pumping into the pps, which explains why a stock buyback wasn't done.
cashclay said:
OS is at least 7.3 billion.
CEO says it on his blog and on Twitter recently. He won't say what the current OS is, so who knows where it is now.
That's more than what the CEO says, but nothing is official until it comes from the company and right now Schadel is not interested in divulging anything meaningful ahead of "the hottest news on the OTC". We've seen that too many times with too many OTC stocks and even from Schadel himself to have any faith in something other than a share selling scheme to come of it. Remember when the S1 for a supposed uplist "prevented" Schadel from updating the OS like he promised while it was getting hammered with billions of shares in dilution in 2015? Yeah...exact same setup we have today.
I was wondering where that was, but couldn't find it with keyword searches. It makes no sense to block the OS count simply because of news unless the OS is specifically affected, but then it still makes no sense if it's good news because that would raise the pps on its own without a PR promo.