Labor Smart Inc (LTNC)

[DD2Gain]

You keep repeating the 14 offices thing, but it is wrong.

There were 15 offices with Raleigh being opened in August of 2013.

Even if 14 offices were true, then that would make the performance comparison even worse as we'd be comparing the revenue growth with 18 offices opened in 2014 instead of 17.

As you pointed out, the branches averaged over $1 million for the first two years with larger relative branch growth. Now we are seeing a giant drop to less than $785,000 per branch when we fairly factor that there were a total of 32 branches acquired/opened through 2014.

That sucks. We aren't even getting $840,000 per branch if we calculate for just 30 branches after the Houston closure and consolidation.

How was that EBITDA for the third quarter compared to 2nd quarter?