Saturday, July 26, 2014 8:08:10 PM
That's with 15 of the newest branches doing 1/3 the performance of the first 14 in the same period last year. They aren't even doing as much as the first 6 in January 2013.
That's with a huge increase in convertible debt.
That's with doubling the AS following the convertible note increase.
That's with no prime lending.
That's with being reportably late with payroll taxes two years in a row, not disclosing the amount owed, not disclosing the full scope of the payment arrangement, and being so cash strapped with his most recent stupidity that the CEO had to make installment arragements with the IRS over a period of many years WITH MONEY HE SHOULD HAVE HAD!
We can blindly speculate all day about what each individual branch is doing, but that is just not how companies are evaluated by investors. If it were, then Schadel would be required to provide that information in the reports. Back when I thought this company was worth a damn I defended this company against folks who tried that same argument to talk it down. There isn't a stock on the exchanges with multiple locations that details the performance of each branch.
The only spin is trying to make this company magically look good.
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