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Monday, September 08, 2014 11:02:14 AM
cpw13154
LOL. How is the revenue stream that much different than it was when he couldn't pay them before.
Who ever said the company couldn't pay there payroll taxes? Just because they weren't paid timely doesn't mean there was ever a time payroll taxes couldn't be paid by the company.
Labor SMART, like a lot of successful start-up operations, most likely had a problem with appropriating cash flow properly. This is a common problem when companies are squeezing every penny they have available to fuel their growth. Should it be considered a mistake? Absolutely! But that's how companies like LTNC become successful. From realizing, learning and growing from their mistakes.
cpw13154
Again who cares about revenue if the cost of the revenues far exceeds the revenue. Millions lost every quarter so of course that payment is a big deal
If the above statement were true, then Labor SMART would not have improving gross profit margins and a positive EBITDA (Earnings before Interest, Taxes, Depreciation and Ammortization)
You see, there is a little something called "paper losses". These are losses that are not actually a cost of revenue from operations, but actually a write-off or write-down according to GAAP procedures. Because LTNC is a public company they also have additional write-downs due to warrants and stock options, which although come off of their income line, they actually have nothing to do with the operations of the company.
So when we say they are losing monies, the fact is (according to LTNC's financial statements) they aren't losing "real monies".
Make no mistake, if LTNC were not public and decided to stop growing today, they would immediately be able to show considerable net income.
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