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I seriously doubt it. I'm not sure what the reasoning is, but today was obviously continuation of whatever began on Friday. My guess is that some short sellers piled on after the earnings announcement, knocked the shares below $3 where there were stop loss orders all the way down to probably $2.75. A bit more selling today, knock the shares under $2.00 and then again you have a bunch of stop loss orders down to $1.75. Couple this with the generally poor liquidity in daily trading, wide bid/ask spreads, and there you have it.
I'm buying under $2 - shares are at the same price as 2 years ago, and yet the company is in enormously better shape. Before company was on the way down, today company is on the way up.
I suspect that there will be some insider purchasing of shares, if they haven't already been buying today.
I'm no longer questioning what's taken place - I'm just buying.
Extraordinary volume
It would appear you are correct...some type of move higher appears imminent.
I was shocked when I saw these posts by you. I wasn't aware of it...not that I really care.
However, is it not the most ironic thing you can think of, that a company in the employment business is not paying it's employee payroll taxes? Once again - shits and giggles :)
Thanks for the kudos - much appreciated.
I see that my post has already been stickied, so again thanks, and I am happy that it is providing useful info that should benefit all who pass through in the future.
Regarding the SEC correspondences - go to sec.gov. On the homepage click Filings->Company Filings Search then type Labor Smart in the Company Name field to search. If you put LTNC in the Fast Search field it will come up as Not Found.
Once you get the results list you'll see at the bottom of the first page the most recent correspondence and last amended S-1 - click the Next 40 button to get to the original and earlier revisions.
Here are direct links to get you there:
http://www.sec.gov/cgi-bin/browse-edgar?company=labor+smart&owner=exclude&action=getcompany
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001522469&type=&dateb=&owner=exclude&start=40&count=40
Enjoy.
As you can see, someone else has provided the cached search results from the newspaper writeup years ago. When I also found that a few days ago, I felt as part of my due diligence checking into the company, which is so heavily dependent on Schadel, I needed to confirm it. I purchased a criminal record history for him from GA and TN and sorry to say it is real, it did take place, and he plead guilty to the charges. So, it is proven - feel free to pay one of the online services a fee and you can see the documentation with your own eyes.
As far as my belief of fraud goes, we'll see how that plays out in the future, but I've accumulated enough tidbits that when combined with the robbery raise many red flags.
Here's one you can see yourself. Go to the SEC website and pull up the original S-1. On the cover page, look below Schadel's name/address/phone. You see an indication that copies of correspondence should go to How2gopublic. When I saw that I said to myself "That sounds kind of amateurish...like one of those DIY incorporation things". So go to how2gopublic.net and see what's there today. A good Samaritan has taken over the site to warn others. The email address on the S-1 is none other than jsmith...the Jay Smith highlighted by the good Sam on the site. In the S-1 submission is an attachment for the incorporation application for Schadel's "home-based business"...and who submitted the application? Jay Smith.
After reviewing the information on how2gopublic.net, about Jay Smith, about the SEC case provided on stock manipulation and fabricated sales figures for the company discussed, is it really such a leap to think that LTNC is potentially exactly the same?
I suggest that while on the SEC site reviewing the original S-1, you also take the time to carefully read all the SEC correspondence and staff comments/questions because they are extremely important raising additional red flags.
Now, I have proven (minimally to my own satisfaction) that Ryan did indeed commit a felony (the records say it was a felony). He plead guilty to the charges that he committed a felony. Scroll down to Page 20 in the S-1 and you will see the statement: "No officer or director of the Company has been convicted in any criminal proceeding and has never been named the subject of any criminal proceeding." Is that an outright lie? Or simply extreme exaggeration of the truth?
As to your thought that lots of people would have to be in on a fraud - think about it. Who signs the Sarbanes-Oxley certification? Who signs all SEC submissions as President, Treasurer, Director, CEO, and CFO? How many more individuals do you need to be in on it? How difficult is it to fabricate sales figures? The company isn't making any profit so there aren't any income taxes to pay - so sales could be astronomical - makes no difference. No doubt, we'll see more incredibly impressive monthly sales increases over time - why should anyone not expect it?
Anyhow, you need to dig deeper when doing your due diligence. I would not blindly accept one word of what Schadel says or pays to concoct in a press release.
I'm just a bystander watching how this plays out, how many (naive) people will pump it based on reported sales/growth, what Ryan feeds them in press releases and personal statements, and how long it will take before it all crumbles.
I've said my piece - Barry Minkow likely has nothing on Ryan Schadel...time will tell.
Proceed with extreme caution.
I am here as well
It would be best not to touch this at any price - because there is no value here at all.
It's good to see that people here understand the tightrope being walked as far as the finances go. However, I think that's just the tip of the iceberg.
The CEO is not trustworthy.
What makes you believe that sales are in the millions per month? Just because Ryan makes press releases saying so?
It's my belief that the numbers are purely fabricated. Once this all plays out, I think we're going to see articles of investigative reporting comparing Ryan and LTNC with Barry Minkow and ZZZZ Best.
You do know that Ryan is a felon who committed an armed robbery and plead guilty to it - right? It's my belief that he's simply stepped up his game from robbing a convenience store to robbing investors through a penny stock fraud. This way is better - no gun necessary.
Executive Chairman buys over 175,000 shares
Raymond Lane purchased 179,900 shares on Thursday/Friday last week at prices in mid-$21 to mid-$22 raising ownership to 201,992 shares.
http://www.insider-alerts.com/Data/20120604/0001179706-12-000072.xml
Director purchases shares
Jeri Finard purchased 50,000 shares yesterday at $3.55/share bringing total holdings to 70,500 shares.
http://www.insider-alerts.com/Data/20120601/0001127602-12-018872.xml
CEO purchases shares
Dewey purchased 11,000 shares on Wednesday this week at an average of $18.75/share.
http://www.insider-alerts.com/Data/20120601/0001209191-12-031481.xml
CEO purchases shares
Ashner purchased 27,000 shares total between Wednesday and Friday this week at average prices from $10.41 down to $10.19.
These were open market purchases.
http://www.insider-alerts.com/Data/20120601/0000931017-12-000008.xml
Director purchases 45,000 shares
Barry McCarthy purchased 45,000 shares at $10.45/share on Wednesday this past week.
http://www.insider-alerts.com/Data/20120601/0001230276-12-000014.xml
How much longer will Frost continue to prop it up?
Another 110,000 shares purchased on Thursday.
http://www.insider-alerts.com/Data/20120601/0001209191-12-031469.xml
Officer purchases 10,000 shares
David Copeland purchased 10,000 shares total on Wednesday and Friday this week, increasing his holdings to 36,093 shares. The shares were purchased at an average of $54.31 on Wednesday and $51.95 on Friday.
With the stock registering new lows, it may be worth investigating closer.
http://www.insider-alerts.com/Data/20120601/0001140361-12-028289.xml
Director purchases 100,000 shares
Timothy Weglicki purchased 103,500 shares total on Wednesday/Friday this week.
Considering where the stock is sitting, the purchases are clearly an indicator it's either approaching being undervalued, or already is.
http://www.insider-alerts.com/Data/20120601/0001181431-12-033946.xml
EMC continues buying.
They should just get it overwith and make a tender offer for the remainder.
http://www.insider-alerts.com/Data/20120601/0000790070-12-000061.xml
Definitely - we love Snyder's products.
CEO buys shares
Krohn purchased 50,000 shares on Wednesday at $15.03/share.
http://www.insider-alerts.com/Data/20120525/0001181431-12-032789.xml
Chairman buys shares
On Wednesday Warehime purchased 10,000 shares in the mid-$25 range.
http://www.insider-alerts.com/Data/20120525/0000057528-12-000038.xml
CEO sells shares
Angrick sold 87,424 shares over the past few trading days.
http://www.insider-alerts.com/Data/20120525/0001179110-12-009160.xml
Some "insider purchases" are more meaningful than others.
When Frost purchases day after day, and no other insiders are buying, that should tell you something - especially because the stock cannot sustain a move above $5.
So, Frost is just about the only person really buying. What if Frost weren't in there purchasing millions of shares every month?
I've seen this a number of times, where a big investor purchases big and continually - generally it ends very badly for your average investor. Go look at what Sumner Redstone did a couple years ago with Midway Games. Wilbur Ross and XCO over the past year. Greek Investments and Pacific Sunwear.
Frost's purchases should be significantly discounted. Look beyond them to the company fundamentals and its cash burn rate vs. sales. When you pull back the curtains, it's really not a very pretty picture.
Lastly, go look at who the senior management and directors are at OPK, and then look at Frost's other investments...you'll see the same names over and over. I have my own idea what is going on, but you can draw your own conclusions.
Only problem is that the market cap is already $1.4 billion. Realistically, how many more billion could you envision a sale at? Best case scenario - maybe $3 billion - meaning at max a double in the stock price from here? In the mean time, still losing money, will likely need to raise more in 12 to 18 months - meaning more shares to be issued.
Just saying.
Insider sale of 68,100 shares
On Friday Warren Stephens sold 68,100 shares at an average price of $17.58/share.
http://www.insider-alerts.com/Data/20120416/0001187376-12-000005.xml
EVP sells 49,000 shares
Yesterday Samuel Maclin sold 49,000 of the 307,000 shares he owned at an average price of about $43.06/share.
http://www.insider-alerts.com/Data/20120416/0001225208-12-009823.xml
Frost purchased another 100,000 shares on Friday
Another Form 4 filing was made yesterday for shares puchased at an average of $4.398/share.
http://www.insider-alerts.com/Data/20120416/0001209191-12-023077.xml
Frost purchased another 100,000 shares on Thursday
Frost made a Form 4 filing on Friday indicating pruchase of another 100,000 shares at an average of $4.50/share. This brings the total held by Frost Gamma Trust to 110,885,854 shares. The filing indicates another 15,490,546 shares held by The Frost Group.
http://www.insider-alerts.com/Data/20120413/0001209191-12-022962.xml
Insider purchases week of April 9
This past week there were 5 purchases made by 4 insiders of ANGO. Granted, the total value of shares was under $175k, but nonetheless, these insiders wouldn't be buying for no reason. Clearly they see value down at the current price the stock is at.
Personally, I like the cash hoard of over $5.50/share and that they're profitable. I can wait for a rebound.
The following show the details of the purchases:
www.insider-alerts.com/Data/20120412/0001140361-12-020191.xml
www.insider-alerts.com/Data/20120410/0001140361-12-019894.xml
www.insider-alerts.com/Data/20120410/0001140361-12-019899.xml
www.insider-alerts.com/Data/20120410/0001140361-12-019896.xml
www.insider-alerts.com/Data/20120413/0001140361-12-020441.xml
A big run to 25 cents/share.
New all-time low coming next week.
Hmmm - wonder where all the pumpers went?
What do the charts say?
What about all the wonderful press releases?
Maybe they need to do another mass-mailing of a nice glossy color brochure to reel in some more naive people?
Maybe the babes prancing along Wall St. didn't have any long-term effect?
Or...maybe the few people who saw through this garbage were right all along.
"Isn't Raven a gold producing company?"
You are joking, aren't you?
Where is everyone?
Man, what happened to the breakout? Looks more like a breakdown. I guess we need another press release to promote the company - huh?
Gotta be wondering what the year-end tax loss selling will do here - don't you think?
"Great news, and the stock is responding well. More ore, higher grades, and perhaps drilling to come soon. It looks like a breakout on the chart."
Thank you for responding so promptly to my post. You continue to prove that there is nothing here but silly press releases.
Breakout? Oh please!
The stock got its usual pump and is now back to where it was prior to the "great news". Why is that? Look at the 3 month chart and it is quite obvious the "self promotion" is the only thing that has moved the stock.
I'd look for the stock to be at something between 50 and 75 cents per share at year end.
"I won't go over all the press releases"
Yes, no need to do that. As schadenfreude has indicated, the multitude, ambiguity, and misleading done in the press releases and self-promotion appears to be for those who don't know any better. It's when you look at exactly what they are saying (or, rather, aren't saying) that it becomes very clear - they haven't done anything at all.
"I like the fact they want to promote their company, I know the people behind it are powerful, and the company has made huge progress in the last 6 months. It's a good start, and it's just the beginning."
They have no choice but to "promote" their company - they have no money and will be out of business if they cannot raise more. They've told you that.
You know the people behind it are powerful? Could you elaborate exactly how you mean they are "powerful"? You have a guy running the company that jumps to a different mining company every year or so, his experience is as a stock broker - this is someone who is powerful?
What "huge progress" has the company made in the past 6 months? You mean in the promotion of themselves that they've done? They still have no revenues and only losses to point to.
How is it a "good start"?
I know some folks here don't like to talk about fundamentals, because there really are none with this company. But, the ambiguities that you are throwing around appear to be pointing at fundamentals - I just want you to be more specific about what it is you're pointing to, because your post is very vague in justification.
Nobody wants to discuss the 10QSB filed today?
Fact of the matter frankie is that we know what the price of gold is. We know how many grams it takes to make an ounce. We know that the content indicated by the sample sizes is very low and you cannot run a profitable business mining it.
The facts remnain the same. Company has no money. Company has no income. Company will have to issue more shares as they've indicated and further diluting current shareholders. Stock is way overvalued.
Now, please tell everyone how many grams are in 1 ounce.
I go away for a week, the stock's fallen 25% and no messages from folks guaranteeing the charts are pointing to $2 any day now. What's happened?
I guess that MACD chart that frankie had up a week ago showed exactly what was coming.