The numbers you post do not have a basis in fact you are not privy to the data and are making up the numbers "whole cloth" without any finacial documents or inside infiormation to back them up. That being said you make potential valid points about Spaniak.
[b]
January 18, 1994
Ex-officer: Lifecare cheated NASA
The legal battle over Fort Lauderdale's Lifecare Investments Inc. is heating up with the fired company vice president now accusing his former employer of financial improprieties.
In a counterclaim filed last week in Broward Circuit Court, C. Gary Spaniak Jr. accuses Lifecare of engaging in check kiting and a pyramid scheme involving franchisees of its Tutor Time day care centers.
Spaniak also accuses Lifecare of fraud against the National Aeronautics arid Space Administration. Tutor Time is the designated day care provider for NASA.
Lifecare, a private holding company for Tutor Time, is insolvent, the counterclaim alleges. Spaniak wants a court-appointed receiver and dissolution of the company.
"My client is outraged by the false allegations contained within the counterclaim," said Todd R. Legon, a lawyer with Mark A. Cohen & Associates in Miami who represents Lifecare Investments. "We believe their claims are completely without legal and factual support....There's no basis in law or fact for appointing a receiver for this successful corporation."
The counterclaim is in response to Lifecare's suit accusing Spaniak and his father, C. Gary Spaniak Sr., of converting Lifecare assets for their own use and of duping the company into trading 45 percent of its stock for a virtually worthless company.
Lifecare's suit alleges that Gary Spaniak Sr. failed to reveal his criminal past when he persuaded Lifecare to merge with his family's company, Southeastern Development of America Inc. The suit alleges that the Spaniaks committed fraud when they represented that Southeastern was worth $ 4.45 million.
The stock ELCR should in my opinion have a run or two & as I stated in other posts for the reasons I have previously enumerated.
People can change but Spaniak has a pattern of this, don't go yet wait for your money it should rebound then be cautious.