Labor Smart Inc (LTNC)

[1337trades]

I'm not saying LTNC would walk away. I'm saying whatever they still owed after 10 years from the liability date they could opt not to pay if they wanted to. They owe around $1m. The annual interest is approx $33k at current rates (not bad). Payments generally get applied to interest first. With the small amount of the payments,it's possible they could still have a balance owed after 10 years from the liability date (whenever that was). This is assuming no penalties are applied. The last Q disclosed abatement of penalties paid in 2012 so it's reasonable to assume they may pay no penalties. Rather odd to see a large abatement like that with the company in a $1m installment agreement.