Labor Smart Inc (LTNC)

[sobe4life]

YOU ARE WRONG ON EVERY LEVEL....

cpw13154

So a business plan that includes not paying the IRS the payroll taxes is a solid plan?

No, I don't believe that was in the business model. However, there is no such thing as a perfect growth company. As a matter of fact, most companies have to make mistakes in order to learn and grow. Success cannot be obtained without making mistakes. What's more important is how the company reacts and rectifies their mistakes. In this case, Labor SMART now has an agreement in place, are current with all their tax obligations and can no longer fall behind in payroll tax obligations.

HMM so the business plan that continues to add to the already struggling debt is a solid business plan?

Gee... In all my years in business school I don't think I ever saw the term "struggling debt." Possibly because there is no such thing. More like bad use of an adjective in order to create a little sensationalism. Yes, LTNC has debt. Any aggressive growth company growing by triple digits year after year is bound to accumulate "struggling" debt along the way. Hahaha....

HMM so to continue to borrow more and more from the loan sharks is a solid business plan?

If we want to refer to hedge funds as loan sharks that's one's individual prerogative. However, I would like to see one OTC company out there that has been successful in raising capital with any means other than a financing that has a convertible proponent or is tied to a company's market cap.

HMM to keep adding more places when its clear by the numbers all the additions are not coming close to supporting expansion is a smart business plan. I would think the fact that you had to close Houston tells you all you want to know about there business plan. Houston was the biggest city they were in and they couldn't make it work there

Says who????

Labor SMART is going to grow from $16.1 million to $25 million in revenues year over year with over 50% of their branches being opened for only a few months. Sorry, but the numbers don't lie.

As far as Houston, I think if a company opens and acquires 32 branches and out of those 32 only one fails, that is a positive NOT a negative. Texas, as a whole, is a very challenging state. Labor SMART does not provide cheap labor. They provide labor on demand. Something that customers pay a premium for. That may be a very hard thing to do when you have so many illegal immigrants hanging around looking to do labor work super cheap and under the table. That doesn't mean there isn't a huge labor market but LTNC plays a niche role within that specific industry.

The fact this CEO tried to sugar coat the numbers and make it appear things were so good when it was obvious people saw through it is all we need to know. Record revenues LOL. if that's the case then you have 15 or so venues doing nothing and he needs to close them.

As a fully reporting company, the CEO doesn't get to "sugar coat" anything, much less, the numbers he puts out. As a matter of fact, he has ZERO influence on how actual numbers are reported. Because liabilities now run so high for Accounting and Auditing Firms, they have all the control and power as it relates to the numbers that a public company puts out. Because of this, we very rarely see companies with the ability to put out inflated numbers anymore.

Close venues??? Why? They are going to have a record year! DUH!