Labor Smart Inc (LTNC)

[DD2Gain]

1337trades said

You should know they used convertible debt to grow the co. Not the same as saying they needed it to survive.

Tell me something:

The total toxic debt grew $3 million in 2014. Add to that another $1 million that simply disappeared for payroll taxes.

We got 17 branches added, but 2 were either closed or consolidated for an end result of 15 branches added in 2014.

You're telling me that it costs $266,000 per branch for this CEO to open? Branches that are nothing more than a leased space in a strip mall, a computer, a phone, some chairs, and utilities plus two employees cost $266,000 each to open.

I see now why the branches aren't profitable, which brings me to ANOTHER thing the CEO said that he hasn't followed through with: that branches should become profitable in 6 to 9 months.