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Re: "There is a difference between ordering food and establishing proper personnel for a job you are contracted to perform. Your analogy is just wrong."
No my analogy is not wrong. Other micro jobs services like Fiverr use apps and things are going fine evidenced by the current 26,000+ 5 stars reviews out of 37,000+ total on the Android version alone. Even Fiverr is for digital services which are supposed to be more complicated and demanding than labor work so if it works there it's very likely to work for LaborSmart. And this is only one example.
Re: "Show what financal benefit will be given to LTNC, do you think because they use anothers app that contractors will flock to LTNC as they are "convenient"?? I don't see it."
You show what financial disadvantage will it impose. This is the Internet and mobile era. Having an app is like installing a fax machine 30 years ago. It's an infrastructure that's supposed to be there. Having a convenient app will most definitely make LaborSmart more attractive. Whether will the "flock" or not, I don't know. But it's a door that must be knocked on in this era.
Re: "The CTO is his father. 80K a year, so let's say justification going on here??"
What the relation between this and the app? (assuming it's true)
Re: "And lastly, if it's not their app why the hell would he use his CTO to fix the kinks?? Does that make sense to you?"
It seems you insist on taking things literally. The CTO is not supposed to test the app and then open the source code and start debugging and fixing it. He should act at the CEO's deputy when it comes to technology. Refer t the definitions in my previous post for his role.
Re: "I see no value in this app, if you do that's fine, but it's more smoke and mirrors for the CEO to play investors greed."
What's important is what the customers see. Yes I see a value and potential. It applies to any other company, the rules will not suddenly come to a halt here just because you want to. Saying it's "smoke and mirrors" without any sufficient feedback from a wide user base and usage statistics is meaningless.
LaborSmart is doing it's part, making an app available to it's customers based on a proven potential. Whether it succeeds or not is something they can not guarantee. But definitely the app step is a good one.
Re: "I don't care about an app unless it proves financially beneficial to LTNC."
The opportunity (if there's one) is before it proves financially beneficial. When/if proven already, it'd be already too late for big gains.
Re: "And if a contractor looking for temps is too damn lazy to get off the couch to visit his sites, to meet his temp workers, to see who he is hiring in person, that contractor is a lazy ass idiot."
So anyone who orders food using an app instead of going to the shop and checking it there is lazy and idiot? and anyone who messages someone instead of calling? and anyone who calls a client instead of going to a meeting? ...etc? What's this nonsense? First this is called convenience and time/effort saving. Second whoever does that is smart not idiot. Third, have you run out of ideas to leave the app and start criticizing its users instead? Assuming this is correct (and it's not), then the app would be a good way to attract "lazy" and "idiot" clients to increase the market share. Again this is all wrong.
Re: "not LTNC's app"
It's already known it's being developed by another company but from a customers' standpoint, this is not important. They won't ask who's the developer to decide to use it or not. "LTNC's app" is just used for convenience.
Re: "Even the CEO says it still has kinks and they need their CTO (that's chief technology officer) to fix it. What kind of BS is that??"
From http://searchcio.techtarget.com/definition/Chief-Technology-Officer-CTO
"A Chief Technology Officer (CTO) is the individual within an organization who oversees current technology and creates relevant policy. A CTO should have the business knowledge necessary to align technology-related decisions with the organization's goals."
From http://en.wikipedia.org/wiki/Chief_technology_officer
"In non-technical organizations as a corporate officer position, the CTO typically reports directly to the chief information officer (CIO) and is primarily concerned with long-term and "big picture" issues (while still having deep technical knowledge of the relevant field)."
According to the above, what is your problem your problem with hiring a CTO? It could be a good sign that things started getting serious after field testing that it needs an experience beyond that of Ryan's and Lindsay Gruschow's for the company to continue with it.
LaborSmart currently has a lot of problems and concerns but the app is certainly not one of them. At the moment, it's more of an opportunity and potential than a problem based on the wide success of mobile apps and the app economy so let's call things what they are.
My whole post was about possibilities and whether they were evaluated or measured or not.
Re: An app "saving you commute time and time off work"...no it does not. Where does this come from???
Comes from a contractor who would needs to physically visit a branch to finish his work can instead do it without that visit. For clarity, we can say "travel time" or "driving time". Pick whatever you like. With this clarification, I don't see the relation with Google Maps or reporting location.
Re: Let's begin with the fact that the app isn't even in beta testing despite the CEO pumping it all these months.
What's the relation between being in beta and benefits/usability?
Re: "Enabling you to divide your work over sessions"...yeah, screw the needs of the client! Temp laborers dictate their own schedule now!!!"
Who mentioned anything about temp laborers? The statement was about how LaborSmart's customers could benefit from the app. Read again in this light to understand then let me know your objection again.
Re: "or work from the convenience of your couch"...whaaat??? Do I really need to address this?
Yes sure, go ahead. Let me know how a LaborSmart's customer couldn't benefit from delaying the temp staffing work till afternoon and doing while relaxed at his home. I'm listening.
Re: SKILL CORPS IS A TIMEKEEPING AND EMPLOYEE TRACKING APP! NOTHING MORE!
Did you watch the demo? There was more there. And guess what, apps evolve all the time. The demo should be only the initial release. Imagine receiving and incorporating customers feedback as enhancements and new features for 2 or 3 years.
Re: Quick, everyone download the app to save Schady a few bucks on HR costs and use your own data plan as his electronic leash on you! Yeah!!!
Customers do not use apps to serve anyone but themselves. If they see a benefit they will do it for themselves. Of course they would save costs for LTNC which would be a great advantage. "Data plans"? Don't they pay for fuel or phone when using non-app channels? Suddenly paying for data plans turned into a disaster?
Most of the points here are invalid to start with because they do not pertain to LTNC's app only but to mobile apps in general. LTNC's app is no different. The fact that mobile apps are a fact of life now confirm that your points are invalid. Mobile apps are a fact, live with it.
Notice that this app could be considered an icing on the cake. Even if this specific one fails, it could be considered just another channel added to phones and faxes. LaborSmart licenses the app from another company so no big risk here. If it works good, if not, no much investment lost. Smart move, right?
Until the app is finally released and there are actual usage numbers, any assurance that it will fail is a complete nonsense. Same applies to success. I'm giving Ryan the benefit of the doubt here both in general and for the app, so let's see.
This general talk is meaningless. What exactly makes their app this bad?
Also have you evaluated it based on convenience? For example the value of saving you commute time and time off work, or enabling you to divide your work over sessions instead of having to finish it all in one branch visit, or work form the convenience of your couch in the evening? An app could be successful just for providing the above convenience even if it's bad in itself. Have you made this type of evaluation?
Notice that apps are like other software, continuously refined and enhanced and new version keep coming out all the time. So the issues you provide now could be fixed in the next release.
So what's your feedback?
Does this mean you'll reply to the points given?
Are you sure none of the current beta users never said something similar? Or maybe because there's still no public user base to start with?
So you think that the hundreds of millions of users around world taking advantage of mobile apps on daily basis from messaging though they have phones, to taking photos though they have cameras, to ordering food though they can use the phone, to scaning documents though they have desktop scanners, to looking for jobs though they have newspaper job postings, to managing photos though they have physical albums, to social networking though they have clubs, to reading news though they have newspapers, ...etc, such users will suddenly decide to not use apps when it comes to LaborSmart's. Interesting, what do you see and we don't see at this point where there's no public user base or usage statistics or customer feedback? There's not even a final version to give feedback of. Please share your rational.
Any LaborSmart customer who wants to make his life easier and benefit from the additional features not available via the other channels.
What you did is definitely good and shows dedication but notice that not everyone can do it. It's an individualistic approach to a collective problem. It might look as if it doesn't affect you but this contradicting and puzzling approach to managing the market communications doesn't help build the strong foundation that can push the stock up to its full potential and hence it affects everyone in it.
I appreciate your comforting replies after all.
So you mean that calling Ryan at the office and speaking to him works for providing the missing information, right? Well, why don't you post the information you received form him in your phone calls if this really works?
What is it with Ryan and phone calls? What about shareholders/buyers who can't reach him by phone for whatever reason? This is a publicly traded company, right? What information is Ryan willing to provide on the phone only but not in public social media and why? All these questions were asked to him on Twitter but he doesn't answer anything with clear specific information or doesn't answer at all. This is becoming more suspicious every day. Why should the shareholders who are able to call him be more privileged than those who can not? It's becoming more and more evident to me that Ryan doesn't want to be held accountable for certain things so he does not mention them in public so no one can prove anything against him. You call him, right? Then please tell him simply to answer ALL the unanswered questions on Twitter if he's really willing to answer. Why doesn't he provide the requested information by answering the questions asked to him on Twitter and get over with this whole thing? He keeps losing trust by his suspicious actions.
So the discussion has moved from the financial numbers in the suspiciously delinquent financial reports to the car numbers in the company parking lot. And the so-called "longs" have no problem with that as no one of them seems to be concerned by the delay in their posts. This keeps getting interesting.
From this acquisition related conversation (
):Flying to DC tomorrow to meet with a potential #acquisition target. $LTNC
— Ryan Schadel - CEO of $MVCO (@CRyanSchadel) May 17, 2016
Check my post #61113, maybe it helps with your situation. Since then I grew more suspicious basically because of the unexplained delayed financials, Ryan's decision to keep shareholders in the dark, and his recent implicit dissociation from the stock's price performance as shown in his recent tweets although he's directly responsible for the recent collapse because of the first 2 points, in addition to not investigating the fundamental problem causing the suffering performance through the past couple of months despite the positive developments. He can easily fix the situation, or at least try to, just by changing his behavior but he instead acts as if he's not responsible for it and there's nothing he can do. I hope this helps.
I don't think Ryan's personal share purchases are useful anymore because the days they would impress potential buyers are long gone. It could be even bad for the stock price because they suggest that the days of big purchases in November/December are over. The scattered purchases from Jan through April 2016 (13 purchases totaling 314m shares) suggest that he has consumed his funds and is no longer able to purchase shares in effective quantities. His last purchases (22m, 6m, 11m) look more like cosmetic purchases. For this to have a real impact, he needs to drop a bomb of buying like half a billion or even couple of billions. Announcing cancellation again would be even better.
The question is why it doesn't happen now? What is preventing Ryan from answering the questions that have been requested for months and whose absence has recently caused too much damage? This information is needed now more than ever. Don't the shareholders have the right to know? Why should they keep assuming and arguing and suspecting while he can simply provide it and clear the air? Why not now?
Could you help me understand your rational? This is the same CEO who promised no dilution before then went to dilute the stock to oblivion and caused shareholders to lose their investments, right? Trusting his no-RS promise was based on what seemed to be acknowledging his mistakes and correcting them. Form 4s mixed with unproven developments pending proofs helped give him some credibility. Now for many weeks he suspiciously delayed the financials, kept the shareholders in the dark, and started dissociating himself from the stock performance despite that he can fix a great deal of the damage he originally cause just by correcting his actions. Despite all that, you still believe his promise of no RS. The brief trust he gained should be lost by now. So what's the basis of accepting his promise now? Especially that you should be like other shareholders, know nothing and have no financials. Could you explain?
I was hoping the same but his recent tweets disappointed me. It seems he's trying to dissociate himself from the stock performance. Here are some examples:
From
:lol of course they don't run the company and I don't run the stock.
— Ryan Schadel - CEO of $MVCO (@CRyanSchadel) May 13, 2016
:the stock moving ahead? Maybe, maybe not. The co is moving ahead every day.
— Ryan Schadel - CEO of $MVCO (@CRyanSchadel) May 14, 2016
) so rebuilding has started already months ago and a lot have been done already but despite all that, the stock is now heading to no bid instead of 0.005 and Ryan seems to totally ignore that and believes that what didn't work through the past 6 months will magically work if he puts more effort. It didn't work the first time, he must find what's wrong first before he keeps pushing in the same direction.agree completely. We've made tremendous progress in the last 6 mos but still more to do.
— Ryan Schadel - CEO of $MVCO (@CRyanSchadel) May 15, 2016
"completely necessary" doesn't mean "uplist" only. It could also mean that he failed and failed again to get the PPS off the ground and eventually had to RS. Even if no RS in 2016, the PPS is failing. What brought the bid from 0.001 to 0.0003 recently could bring it from 0.0003 to no bid soon to stay there and enter 2017 at no bid or a little higher. By then 2016 will be over and Ryan will be free to RS to correct the collapsed stock. From Ryan's vague tweets, the SS correction (and hence appreciation) seems to be far away. The tone in Ryan's recent tweets suggest that finding what's wrong with the continuously falling PPS and correcting it are not on his list. So the chance of entering 2017 at no bid is plausible. Shareholders who care about their investments better not fall into the "no RS in 2016" trap and demand working on the PPS problem immediately. The time remaining before 2017 is not long as you might think and correcting the PPS could take it all and more considering that the past 4 months' developments resulted in nothing but failure for the PPS.
Do you know how many times such promises were made in other stocks before whether true or deceptive to end up with an RS disaster? Shareholders who accepted this promise before did so based on trust based in turn on actions and communication. Now this weird information hiding and carelessness about shareholders investments erodes that trust and leaves no reason to believe any of his promises. So saying that Ryan promised no RS doesn’t make it believable just because he said so. He should let his actions speak first.
Yes many businesses have pains but let's not mix things up. The current stock price disaster is the direct result of the company's CEO who decided to stop informing shareholders about important information and who's very late on releasing the financials.
What answers is he providing to shareholders? NONE! Unless you consider something like "No eta yet tho" for the financials an answer. There's a difference between tweeting and answering.
Walking away is not an option, it's walking away AND realizing losses. Most of the shareholders here who bought during the last 4 months did so at 05 and higher. The stock is now mostly sold at the bid. For example, yesterday it was 731,230 buys to 108,399,300 sells (yes, 731k to 108 million). Most of those who "walk away" now will have to sell at 04 to realize at least 20% and I'd say the average is 50% loss.
The way I read this tweet is "don't wait for anything anytime soon", if ever. He doesn't seem to realize that these "daily changes" have been going on on "daily" basis for a couple of months now to reach a new 03x04 bidXask today and not before long it will reach no bid if things continue this way. Ryan thinks this is trivial and at any time he wants to he can just snap his fingers and the PPS will jump back to 0.001+. He's losing credibility and trust and is making enemies. And even if he doesn't care about the daily PPS changes, the shareholders who he's supposed to protect their interests do care. This is not the first time he causes problems and after the first disaster about a year ago, he's doing the same thing again. Ryan is misleading the shareholders. What shareholders asked him for is to inform them about current details and future plans. This is not the first time he deviates from the actual point. By this tweet, he's trying to trick the shareholders by showing the problem as "daily changes" while it's something totally different: he is hiding information and is refusing to tell anyone what's going on. The PPS collapse is the result. This is totally irresponsible and shows no respect of the trust they have put in him.
Can that CEO show himself and explain what you just said and other things to the shareholders? The mere fact that such information are now being relayed to shareholders through others like yourself or being guessed, and he's no longer communicating is alone a problem. Can you share any source confirming what you just mentioned? No you can't because there's none. Where are the Periscopes and Tweets he used to give? What's going on?
Super excited about what? The bid/ask that dropped to 03x04 and tens of millions dumping on the vanishing bid (ask x bid went down to 84m@0.0004 x 8m@0.0005 before dropping briefly to 0.0003x0.0004) while the bid is breaking and in its way to vanish soon to enter the new low of 03x04 then 3 ticks more and become No Bid x 01?
Or is he super excited about not even knowing the time expected to deliver the late financials that are contributing to killing the stock and wasting shareholders investments as shown here
@IFlipTrips that's possible. No eta yet tho.
— Ryan Schadel - CEO of $MVCO (@CRyanSchadel) May 11, 2016
Ryan says bring 0.0003 on? It's either you are lying or LTNC has reached a new low that Ryan is indirectly delivering messages through others to avoid being held accountable of anything and can deny it after he stopped responding to important questions, or you are trying to keep the flipping machine running.
Are you holding the chart upside down?
I remember this was discussed here before and proven totally wrong.
Have you checked his responses to such points on Twitter? Why do you think a call should be any different? If he's willing to answer why he doesn't just do it and get over with? What's the role of the IR account? Call him yourself if you think you can get the required information out of him. Hopefully this doesn't fail to find someone else asking "have you visited him to discuss your concerns?".
I really wish I'm wrong. Go ahead and call him yourself and provide just two points not all: the time of releasing the 10-Q and 10-Q or at least what's going on with them.
You better read what I wrote first. This "going south" is fixable. Many of the investors here are already in red. Asking them realize their loses by selling instead of calling to fix a "fixable" situation is just absurd. When someone shouts "fire", you don't put out the fire by telling them to get out of the room or by silencing them. That would be solving the wrong problem. Shareholders are owners pretty much like yourself. They have the right to protect their investments by putting the problems they see in the light if they see so instead of living in denial. What I'm saying is like a snapshot of the current situation (at least that's what I see), if you don't like what I'm saying then you don't like the situation. In this case, you get out.
Let me correct what you don't understand for you. I said "HEADING TO NO BID", not "WILL reach no bid". You better open LTNC daily chart while reading this. For the past couple of weeks, the bid has been falling. Remember the formidable 0.0007 support? well, it was broken, and also 06, and 05. During the past couple of days, the bid went down to 04. Just 2 days ago, the 04 bid size was 100+ million, today it went down to 50m. Do you see a pattern and a direction? Guess what direction is this? LTNC is ALREADY HEADING TO (going in the direction of) no bid. This is not something in the future, it's already happening NOW, look at the chart and bid/ask. So this is ALREADY CORRECT NOW. The problem is, will Ryan change that direction and save the stock before it's too late or leave to fall off the cliff it's heading to?
I also said "MAYBE RS", not "WILL RS". So whether it happens or not, there's now a PROBABILITY of an RS if Ryan keeps pouring resources in LTNC's black hole without fixing it.
I want to see LTNC fixed and skyrocketing but this will not happen by self delusion. How long is too long? How much time should pass before you start questioning the fact that the tons of money spent and shares bought have resulted in NEGATIVE results? If the situation continued like this, sooner or later you'll run out of patience and start questioning the situation yourself. Well, someone is already doing it.
Really? Ok, provide accurate detailed information about the following points I mentioned in my post NOW based on his transparency:
- What branches were sold? (or if can not be disclosed).
- 10-Q (itself or any information about it).
- 10-K (itself or any information about it).
- The situation of Prometheus' suit.
- What happened to the 1 billion shares certificate? If not issued then why and what he's doing to fix that?
- What he's doing to verify naked shorting and fix it if true (
).@ijbbad54151 the thought has crossed my mind
— Ryan Schadel - CEO of $MVCO (@CRyanSchadel) April 30, 2016
The mere fact that this discussion is happening and people arguing and guessing instead of relying on clear information provided by the "transparent" CEO indicates a big problem in its own. LaborSmart has two related Twitter accounts: @CRyanSchadel and @laborSMART_LTNC. Strangely enough, nothing is mentioned on the new suit developments on any of them.
One more item added to Ryan's list of things he's keeping under wraps. At the time he was supposed to update the shareholders about the situation, he shared an article on Twitter. Now the list of things shareholders don't know include:
- What branches were sold? (or if can not be disclosed).
- 10-Q (itself or any information about it).
- 10-K (itself or any information about it).
- The situation of Prometheus' suit.
- What happened to the 1 billion shares certificate? If not issued then why and what he's doing to fix that?
- What he's doing to verify naked shorting and fix it if true (
). Naked shorting can simply kill the stock and will eventually force him to RS despite his promises.@ijbbad54151 the thought has crossed my mind
— Ryan Schadel - CEO of $MVCO (@CRyanSchadel) April 30, 2016
As I see it at this point, LTNC is a huge opportunity and also a huge risk. The company went through problems in the past and hit the bottom of no bid for months after huge dilution despite promises. As a result, investors lost money. Ryan Schadel, CEO, admitted the mistakes he did and started turning the company around followed by positive developments the most prominent of which is promising no RS and personally buying 2,88 billion shares out of which he canceled 706 million in a live event. His shares are practically a form of buyback as his ability to sell is very limited. Also a $2 million was announced but doesn't seem to be really executed as quantities bought, besides there was a court restriction halting it for 2 weeks supposedly ended last week's end. Since the turnaround started, the PPS went to an impressive 0.0013 from no bid during December/Jan with great expectations of much higher prices later. Since then the price has been generally falling with spikes every now and then. Ryan has been doing good developments and spending tons of money in paying debts and clearing the SS but so far it's been like he's pouring resources in a black hole, the PPS is simply going down. Positive developments and PRs are doing nothing but strangely getting tens of millions of shares dumped and every while the bid and ask get lower. The general trend direction is against what's supposed to be (down instead of up) and the proportional PPS appreciation expected to go with new developments does not exist. In fact the it's negative.
The trust Ryan built a couple of months ago is currently eroding and he's discrediting himself (in my opinion) for reasons among which:
- He's been late on the quarterly and annual financials without even providing an indicator which makes many shareholders worried (the most recent response was from IR a week ago saying "soon"
).@IFlipTrips @CRyanSchadel soon.
— LaborSMART IR (@laborSMART_LTNC) May 2, 2016
). He said that that the naked shorting possibility "the thought has crossed my mind" after rejecting the idea weeks before. And yet, shareholders know nothing or what he's doing.@ijbbad54151 the thought has crossed my mind
— Ryan Schadel - CEO of $MVCO (@CRyanSchadel) April 30, 2016
There are a couple of things we see differently and I believe that many here agree with me:
Re: "But don't pretend LTNC wasn't at ZERO bid for months."
I didn't pretend anything. Yes there was a movement before the correction started, something from the past. Now you don't pretend that the price hasn't stalled and the continuous efforts result in ZERO or even negative movement.
Re: "We are up 600% and have been up as much as 1300% here."
I don't know who's "we" here. Maybe you are at 600% but many here are at 20% to 60% DOWN and the bid keeps falling. In fact looking at the chart will show you that the 1,300% is an anomaly and the norm is much lower than this.
Re: "All that movement WITHOUT any of the positive things considered."
Actually it's all of the positive things considered WITHOUT a movement. Unless moving down is what you are looking for.
Re: "Shareholders knew it wouldn't be an overnight change."
Who talked about overnight change? It's been over 4 MONTHS and NO CHANGE but DOWN as a general trend.
Re: "Time is all that's left now. And in time, we will see historic new highs."
What time? do you know? does Ryan say provide any quantitative information that you can count on? The past 4 months were enough to show the direction of price vs. efforts/developments. It goes DOWN with positive developments and news. There's no PROPORTIONAL progress. The stock is moving in the wrong direction, waiting longer will only make it worse. Without investigating the fundamental problem that makes the PPS less than 0.003 by now despite all what happened in the past 6 months, Ryan will just keep pouring water in desert. It could be naked shorting and no matter what he does, the PPS will only keep falling until he finds no escape but to RS despite all his promises.
I prefer to show his ability at the PPS.
At this point he'd better sell his McLaren and try to salvage the stock with the return if he's willing to delay the financials any longer. Every time the stock dips it sets a new lower expectation and buyers refuse to buy any higher. I'm sure shareholders would prefer a high PPS over a CEO with a McLaren.
Months of accumulation result in continously dropping bid and price? Does this even make sense to you? Isn't it time for shareholders acknowledge that there's a fundamental problem and collectively ask Ryan to investigate and fix it?
What do you think is going on and why?
But if it's naked shorting, you'll keep grabbing until you are out of money and the shares will keep pouring and the PPS will keep going down. Your reply is not the right answer for why the dumping is happening.
IR said "soon" here
@IFlipTrips @CRyanSchadel soon.
— LaborSMART IR (@laborSMART_LTNC) May 2, 2016
Hopefully the 5s are falling into Ryan's hands.