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Do you really think this company has $34M in assets?
That's right, as I said, it is a toxic lender that is selling. Things are about to change here.
My research shows that it isn't management that is dumping, it is one toxic lender that is dumping. It appears that they are almost out of stock so it will come to an end shortly.
From the conversations I have had with management recently there are going to be a lot of changes. Be on the lookout this week.
Thanks for the input. Let's see if we can make something happen.
I don't think Frank makes any "REAL" deals.
It looks to me like it is time to stop the charade here and force Frank Kristan to do something real.
Who is the resident expert on this board?
Who is the resident expert on this board?
nicoausto, I completely agree. My purpose for meeting with Phil Sands (the interim CEO) and the largest single shareholder of the company was to discuss things that would benefit the company and its stakeholders.
The ridiculous amount of shares outstanding, and the ongoing dilution, was a major part of our discussion.
As I said, news will be coming early next week.
Be On The Lookout For News Coming Next Week -
My meeting with the CEO of KNYC, Phil Sands, and the company's largest single shareholder yesterday went very, very well. I spent several hours with the largest shareholder, and the whole day with Phil Sands, with whom I will be maintaining ongoing conversations.
The company has many plans and positive changes that will be announced in the coming weeks. I can't go into much detail right now, as much of what I learned is not yet public information, however I can say the company plans to do a variety of things to create shareholder value.
As I said, be on the lookout for news, and I will keep you up to date.
Today Is A Big Day For KYNC: I'm meeting with interim CEO Phil Sands, and the company's largest single shareholder, and its legal counsel.
I will update everyone after the meeting.
I don't think Phil Sands has any knowledge of that sort of thing. Oh...that was supposed to be funny?
I Am Meeting With The New CEO KYN Capital on Tuesday - does anyone have any questions you would like me to ask?
I Think They Have A Shot, as long as they get the capital they need for the growth they have planned. I have been following for a few months and will continue. Thanks again for the information you provided.
jlee3 thank you for the information sounds like they are ready to launch.
Nice to meet you jlee3 Can you tell me about the company? Are they getting anything done or just talking?
Can someone tell me who the resident expert is here?
Thank you! I am doing some homework - let's see what happens.
runningsloth, I agree, a million in toxic debt is painful and nothing to sneeze at, but it is a reflection on the old management. It can be managed and it can be worked out, as long as they make the right strategic moves.
Do you know who the resident expert is on this company?
Can someone tell me who the expert on this company is?
I THINK THIS COMPANY HAS A SHOT - with no actual operations and only about a million in toxic debt, a few strategic changes can really create something.
What if the new CEO brings some dramatic positive changes?
What do you think would happen if the company secured a private equity sponsor?
Can you tell me more about the company?
Crazy, are you the expert on this company? You seem to know a lot about what’s going on.
Who is the expert here on this company?
Who is the expert on this company?
My research on Labor Smart and Ryan Schadel led me to this board but there is never any conversation. Does anyone know what is going on here?
Schadel can operate with the model that things are going to get better in the future. He doesn't have to put deadlines on anything because he doesn't have to. He has no board of directors or institutional investors to put pressure on him. Real CEO's are forced to accomplish something each quarter that moves a strategic plan forward. Schadel's model is has nothing to do with performance. It is about waiting for lightning to strike, something to come along that makes everything better. Until then keep making things up.
Dare to dream.
Something that has been bugging me: I understand why Schadel went dark with the SEC, he can't report financials. What I don't understand is why he stopped filing the necessary documents with the state of Nevada. Labor Smart isn't even a legal corporation.
The Feds run in cycles in rounding up guys like Schadel. He has done all the typical things these guys do so I am sure he is on their radar.
In my book this company still operating and this CEO still answering the phone is worthless. But that is just me. One man's trash is another man's treasure.
So you see potential here. I guess it can't get "beaten down" much more. You don't believe that the stock is mispriced, do you?
And what do you like?
Notabot, can you tell me one thing about Labor Smart that you don't like?
He certainly accomplished something. Sustainable growth he couldn't accomplish. It isn't how you start, it is how you finish and this is ugly.
You know, he doesn't have to get a full audit. He could just have unaudited numbers done and it would show some transparency. I don't understand why he doesn't just do that.
I would love to see any path LTNC has to prosperity. Schadel knows his way around the business for sure, the problem is he shouldn't be a CEO. He doesn't understand, or appear to care about, fiduciary responsibility.