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Sure is a lot of weather we've been having lately. The "news" said Mar revenue and branch openings would have been better if not for the weather. I wonder if the 10-K release was affected by the weather too. Ummm... here's to blue skies!
Zacks 1st Qtr estimate way off. Off 1,070,200 dollars.
Estimated 1st Qtr revenue: 5,799,000
Actual 1st Qtr revenue: 4,728,800
Time for Zacks to get out their calculator and play with the numbers.
Blame it on the weather. Revenue for Mar 2014 and new branch openings would have been better if not for the weather!
Fluff PR right on time. 10-K not right on time.
Zacks LTNC Research appears sloppy.
Mar 2014 revenue will probably be released this week.
Zacks seems to think it will be 2,508,200. Pretty high estimate.
Zacks 1st Qtr estimate: 5,799,000
Reported so far:
Jan 1,877,674 - 375,534.80 weekly - 5 weeks
Feb 1,413,126 - 353,281.50 weekly - 4 weeks
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3,290,800
Zacks estimate: 5,799,000
Jan & Feb: - 3,290,800
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2,508,200
Mar is 4 weeks. 2,508,200 / 4 weeks = 627,050 weekly revenue
Hmm... 353,281 to 627,050 weekly in one month???
Sloppy and unbelievable. I wonder what else Zacks is over estimating? 80 cents PPS maybe?
Inability to file timely... NT 10-K... Typical. Now we can have two weeks of fluff PR before seeing the 10-K.
Something is only worth what someone else is willing to pay for it. At the moment that appears to be 41.39 cents per share. The aquisition examples I gave show that it is possible LTNC is worth less than it is trading at right now.
TJAI1c3a wrote:
"Why would Ryan Schadel sell with ambitions of 100 offices and $150 million in revenue by 2017-- ambitions that he has already demonstrated the capacity to achieve???? The companies you provided were very different financially. LTNC has about $2m in debt with 15 offices. At 100 offices that would put the debt around $16 million vs. $36 million in your example.
Acquisition is not a factor right now. Not with a CEO owning 3/4 of the common stock."
So then LTNC is worth even less than the market price of 48 cents if it were acquired now?
TJAI1c3a wrote:
"Acquisition and market value are two different things. The market is stating its vote of confidence in the future of LTNC as a continuing company- not in acquisitions. Acquisitions are always at a discount of market value or they wouldn't be very smart purchases. As a company under its own symbol, LTNC can go up as high as the market sees fit and Schadel has stated no interest in entertaining an acquisition (if that is even on the table)."
Is LTNC currently overvalued? At .48 cents with 22 million shares its market cap is 10.56 million dollars.
Look at True Blue's recent acquisitions:
MDT Personnel, third-largest general labor staffing firm in the U.S. with 105 branch locations was purchased for 48 million (12 million cash and 36 million in assumed debt)
48,000,000 / 105 stores = $457,000 per store
LTNC - 19 stores x $457,000 = 8.7 million
The Work Connection with 37 branches and expected 2014 revenue of 90 million was purchased for around 20 million cash.
20,000,000 / 90,000,000 = .222 times expected revenue
LTNC - 2014 estimated revenue around 30 million? x .222 = 6.7 million
10-K? NT 10-K? LTNC or LTNCE for the symbol? If they don't report soon we will be using a new symbol for the stock.
40 cents? Hmmm, now how did that happen? LTNC stock price has air pockets.
The NT 10-K notice of late filing should be showing up soon. Is it possible we will get a timely 10-K filing? I am curious to read how much stock is currently outstanding. Plus how many convertible loans are still on the books. Also, did LTNC make money or continue with their losses? It will be interesting.
Zacks expects LTNC to lose 10 cents per share in 2014. That is over 2,000,000 dollars.
LTNC is expected to lose over 2,000,000 dollars in 2014. Plus they are expected to post a loss for the 4th qtr 2013. Now where is all this lost money going to come from? Convertible debt maybe? You guys keep ROTF and laughing but you may want to get up off the floor and get ready for the upcoming 10K.
Nice and steady selloff from 45c. With dried up volume LTNC could slip back into the 20s. Plus 10-K or, excuse me, NT 10-K coming out soon. We will all get to eventually read about all the converted stock that has been issued.
You guys have LTNC uplisting and fighting off buy out offers??? Seems like the cart before the horse. LTNC is going to be a BB stock for some time. Take a look at listing requirements and you will see why. Where did the big buyer go? Please come back!
I wish everyone luck and all but I still think LTNC sees .20 before it sees 1.00. LTNC is losing a lot of money and Zachs expects them to continue losing money for a while. I think LTNC will stay in business but at the expense of convertible debt diluting current shareholders. This stock will take time just like Command Center. Could take 10 years or more to see dollars per share.
1.00 and 2.00 a share this year? You're dreaming.
I bought a large amount of this around .25 and selling in the 40s and 50s looks good to me.
Command Center, Inc. has a market cap around 24 million. They do 100 million in sales, have 59 stores and are profitable. LTNC at 1.00 would have around the same market cap. But they have 17 stores, do 16 million in sales and are losing money.
I thank the big buyer right now for giving me a nice opportunity to take profits on my LTNC position.
Labor Smart vs True Blue
http://finance.yahoo.com/news/labor-smart-ltnc-resemblance-early-155300864.html
Looks like the market has worked through the converted stock. Maybe we will start to see a much higher stock price.
MORE & MORE CONVERTED STOCK DUMPING??? This stock is a joke. The CEO is basically saying the stock is only worth 13 cents if he sells it to the converters at that price.
172,700 shares sold yesterday??? Converted stock??? Note to CEO: I would like to buy stock from you at 13 cents so I can continually slam the bid and make a profit. Get back to me.
More Converted Stock Being Dumped??? This stock is a disappointment. It continues to go nowhere fast. Except for going down, of course.
This is a very disappointing stock. Too many convertible shares around. Plus the partially converted notes have not been accounted for yet. Probably converted and added substantially to the overhanging stock for sale. It will be interesting to read the 10K and see how much new stock in convertible stock we have in the float. It might be smart to only buy major sell off days. Like the kind we keep seeing.
Today's fluff PR piece will not fix the problem.
The problem is the market is unable to absorb the volume of free trading stock without falling substantially. It doesn't matter if the free trading stock is converted stock or other stock (e.g. tax loss, consultants stock, impatient pump buyers...).
And it looks like we might continue to see more converted stock hitting the bid.
Ony 5 of the 13 convertible notes have been paid. 3 of the notes are partially converted. When is the other shoe going to drop?
Last two weeks of trading:
Dec 9 to Dec 13 - stock drops from 32 cents to 25 cents on volume of 190,900
Dec 16 to Dec 20 - stock drops from 25 cents to 19 cents on volume of 612,500
It looks like converted stock will continue to be a problem with such an illiquid stock.
Here Is Where All The Stock Came From:
For more details look at the 2012 10K and 1st, 2nd, 3rd Qtr 10Q for 2013.
June 2011, 15,000,000 shares issued to its founder
June 2011, 510,000 shares issued at .02 per share
June 2011, 200,000 shares issued at .0025 per share
September 2011, 335,000 shares issued at .02 per share
16,045,000 Shares Outstanding December 31, 2011
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July 2012, 25,000 shares issued with a fair market value of $0.20 per share
August 2012, 100,000 restricted shares issued with a fair value of $0.20 per share for services and 500,000 shares issued with a fair value of $0.20 per share
October 1, 2012, the Company issued 57,000 shares of common stock for employee compensation
October 2012, the Company issued 30,000 shares for employee compensation
16,757,000 Shares Outstanding December 31, 2012
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January 28, 2013, 300,000 shares issued for consultant agreement
January 28, 2013, 700,000 shares issued for consultant agreement
January 28, 2013, 500,000 shares issued for consultant agreement
January 28, 2013, 300,000 shares issued for consultant agreement
March 20, 2013, 100,000 shares issued at .50 per share
March 26, 2013, Evolution Capital, LLC, elected to convert $130,000 of principal amount for 604,651 shares
19,261,651 Shares Outstanding March 31, 2013
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April 5, 2013, 100,000 shares issued at .50 per share
May 24, 2013, the Company issued 33,500 shares to employees for services rendered by them
19,395,151 Shares Outstanding June 30, 2013
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Setember 5, 2013, Vista Capital Investments, LLC elected to convert 50,000 shares
September 9, 2013, JMJ Financial elected to convert 60,000 shares
September 19, 2013, JMJ Financial elected to convert 80,000 shares
September 28, 2013, Evolution Capital LLC elected to convert 221,108 shares
19,806,259 Shares Outstanding September 30, 2013
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October 7, 2013, the Company settled in full the Convertible Promissory Note issued to Iconic Holding, LLC for $149,500 in cash and 30,000 shares
October 7, 2013, JMJ Financial elected to convert 75,000 shares
October 8, 2013, Vita Capital Investments, LLC elected to convert 50,000 shares
October 18, 2013, JMJ Financial elected to convert 100,000 shares
October 24, 2013, Vita Capital Investments, LLC elected to convert 60,000 shares
October 24, 2013, Evolution Capital Fund I, L.P. elected to convert 227,342 shares
November 12, 2013, JMJ Financial elected to convert 118,705 shares
20,467,306 Shares Outstanding November 12, 2013
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nit2win, Dilution does matter. It matters a lot. Actually we know of 631,047 shares that converted in the current quarter. I wonder how many more... Will have to wait for the 4th qtr filing.
nit2win wrote:
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DUHHH....
It doesn't matter if there are or are not any recent notes out there because a note has to mature for at least six months (under rule 144) before a note holder is allowed to convert their debt into equity.
If we do not know this then shame, shame, shame!
Stop scaring people into believing that any selling could potentially be coming from recent convertible notes that we do not know about because THAT IS IMPOSSIBLE!
Enough is enough!!!
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pennystockmentor, Thanks for the info. The CEO can get as hot as he wants about the downward price action. It won't help. He needs to stop with this toxic debt convertible financing to really help. As for his comment of reading the PRs, I will just wait to see the quarterly filing to find out about conversions happening this quarter. The CEO was either unable or unwilling to stop the latest note conversions. Actions or lack thereof speaks louder than words.
pennystockmentor wrote:
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I just spoke to the CEO..he's aware of the price action and seemed pretty hot about it. I asked about conversions..he wouldnt say anything specific (obviously he cant legally) but said I should look at recent PRs and should be able to come to a conclusion if conversions were possible. Im going to go with the tax selling theory and just keep picking up cheapies.
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TJAI1c3a, I agree with you. Your post sums it up quite well.
That has been my position all along. Like the company and dislike the dilutive financing.
TJAI1c3a wrote:
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Well, plenty of negative predictions have been proven to be absolute bunk with regard to revenue and expansion, but it appears that LTNC's pps is behaving just like any other OTC company with convertible note financing. The company makes an unparalleled effort to pay off its bills, but the ones that have slipped by are obviously causing trouble with the PPS and the fact that MORE convertible note financing emerged from the 3Q10Q has also had an effect on shareholder confidence or we'd be seeing more buying at these levels. Sucks for the longs especially if the CEO can't figure out how to stay operational without engaging in convertible notes. Paid off or not, they are extremely expensive. On the other hand, I do see opportunity if timed well. My average is too high for the funds currently in to do anything but wait and see if things turn around, but I am now ready to play this stock like a penny stock with a modest amount and at least break even in the short term. 12 seems low. I think I'll wait and see what this does in the first week of January.
All the same, I am still holding out for a dramatic and permanent change for the better. Based on the CEO's Facebook page it looks like we might get news about New York. We'll see if that happens and what that's about.
$LTNC
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Good Company ... Bad Financing
CEO needs to stop toxic financing. These converters don't care what the price per share is. They can always make money with deeply discounted conversions. Regular shareholders are holding the bag on the way down. 16 cent bid ... What a joke.
92,500 shares offered at 20 cents...
Hopefully the CEO is paying attention to all this selling. He needs to see what convertible note financing can do to the stock price. Convert at a deep discount and hit the bid. LTNC continuing the downward spiral.
janeyH, I'm with you, if it hits 12 cents I am buying too. I am willing to buy the converters stock at their conversion price. Problem is if it hits 12 cents their new conversion price is 7 cents. Hard to win this fight.
janeyH wrote:
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At least it held 20 today - looking like teens tomorrow - if it hits 12, i'm buying
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nit2win, The stock is being rewarded for a job well done. It is 20 cents. Congratulations.
nit2win wrote:
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Try and try as we might.....
The shareholders of this company will not be scared out of their positions because of any short term selling.
The operations, growth and corporate infrastructure speak volumes fir what the future holds for this company.
It may not necessarily be today, but eventually the stock price will trade in parity with the operations and reward the shareholders for a job well done.
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Insane... Watch your bids. There seems to be a big seller moving their position.
22,000 @ .20 12:33:45
80,000 @ .20 12:19:14
102,000 @ .21 on 12/18
Who has that much stock for sale???
Is this converted stock?
32 cents to 21 cents is pretty bad. Most investors would think that was quite a sell off. I have watched this stock from its beginning of trading. That 6 cents and 10 cents and 20 cents pricing all happened with extremely light volume. Most buying happened mid 20s to 80. So the stock is below where most of it was ever purchased. What did Gordon Gecko say? This dog has fleas.
Awaken, LTNC only traded a very small amount at 20 cents on Feb 5 before being pumped to 80 cents. Were you fibbing about buying at 20 cents?
Awaken wrote:
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I like to talk current events. If were going to talk the past we might as well talk about the last time I bought at .20 and sold near .80 for a massive profit. I'll do it again too, maybe with a little more patience, hopefully with a better average. I love talking every day about something that may not change for years, it's pretty damn fun actually! Hope everyone is still here in a few years when were trading at several bucks, would sure suck to see LTNC down here and everyone not have some then huh
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Ummm, Awaken the stock has sold off. It is down 75%. If it wasn't for the pump campaigns all that stock would not have sold in the 20s and 30s. I know some will say the stock has doubled from 10 cents. But the only day it traded at 10 cents was on Jan 11, 2013. 6,800 shares traded between 10 cents and 47 cents. So other than that fluke trade at 10 cents everyone except the converters are losing money in LTNC.
Awaken wrote:
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I keep reading all this bout a sell off, or stock selling down, meanwhile the stock has traded between .20 and .30 for months. A clear channel range in price. I mean, if there was all this uncontrollable selling, how would the price sustain itself? ENLIGHTEN ME! I assume if there was a nonabsorbent amount of sellers the stock would have actually lost support by now, meanwhile we've been hearing this for months and the price keeps holding up rather fine considering. Hilarious.
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It is actually pumpsanddumps.com and not pumpanddump.com. The last LTNC pump promotion listed on that site was on Dec 05, 2013. The stock was 32 cents. Now it is 21 cents. Someone got to sell LTNC at good prices before it tanked to 21 cents.
New Investors should beware. There is a reason this stock has nose dived from 80 cents to 21 cents. Read the latest 10Q very carefully and see how the stock is being diluted by convertible notes and consultants being paid with free trading stock. Really check it out before investing. Also check pumpanddump.com every once in a while. That site has listed pump campaigns for this stock on many occasions.
nit2win, You don't make any sense in your statements.
Gross Profit = 1,870,571
Total operating expenses = 3,010,580
LTNC didn't have enough gross profit to cover their operating expenses. Hence they borrowed money with convertible debt to pay their bills. Shareholders are being diluted so the company can pay its operating expenses.
How is that difficult to understand?
LTNC may very well get to the point of critical mass and make a bottom line profit. Company may do very well. But dilution will be involved. Shareholders are being diluted. It is just a question of how much dilution we will ultimately be subjected to. Let's check back in a year and see if we are closer to 20,000,000 or 30,000,000+ shares outstanding. In the meantime watch your bids. The converters may hit you hard.
nit2win wrote:
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Growthstocks99, My grandma use to say, "If it doesn't make sense then it's probably a lie."
We are quick to point out that Labor SMART has shown $1.14 million in operational losses but conveniently leave out the fact that they also made $1.8 million in gross profits.
Gee, do we think that MAYBE the gross profits were reinvested back into the company in order to fuel their explosive growth?
What if....
They hadn't expanded from 4 to 9 states?
They hadn't grown from 6 to 15 branches?
Gone from 4 to over 45 full-time employees?
Loaded up on their corporate infrastructure with experienced and proven upper level executive management to help ensure their abiity to handle future growth?
Etc., etc., etc.
Even with the accumulated operational loss, the company is also sitting with OVER $2.1 million in assets, mostly in receivables which is treated as CASH!
That aside, what is the actual loss once the non-cash write-offs and interest expenses for stock issuances (which do not affect a company's ability to operate) are taken out?
Who are we trying to fool by saying this company can't pay their bills?
Easy to say.... Impossible to prove!
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nit2win, Actually they show a loss because they don't take in enough to pay their bills. Their gross profit doesn't even pay for payroll and general and adminstrative fees. Look at the income statement and you will see the operating costs are more than they take in. It is not reinvestment it is operating expenses.
You keep mentioning they retired debt. Yes with new and larger debt. So in that sense I guess if you want to call them a rollup you might call them a debt rollup.
nit2win wrote:
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THEY ONLY SHOW A LOSS BECAUSE THEY TAKE EVERY PENNY OF THEIR GROSS MARGINS AND REINVEST IT BACK INTO THE COMPANY LIKE EVERY GOOD GROWTH COMPANY SHOULD DO.
I guess we might have a point if this company was showing little to no growth. But when you are showing operational expansion into the triple digits THAT COST'S $$$$$.
Implying that their operations are running at a deficit without laying out the whole picture and talking about the substantial growth they have shown in 2013 is slight of hand, to say the least.
Once again, we also leave out the fact that they retired almost $700,000 of debt as well.
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