Labor Smart Inc (LTNC)

[megagnome]

Command center stated very plainly concerning the LOI that their intent was to collect on the delinquent note through the bankruptcy process. They stated that this would be the best remedy to get themselves paid. They don't want to own LTNC, and their 2014 net loss of 5.1 Million, they want LTNC out of the game. Don't be surprised when more of these toxic notes are sold off by the original creditors in order to recoup some of their losses. And to address one of the most hilarious things I have ever read: The reason Schadel can't buy the loans for pennies on the dollar himself is because he is the responsible party for re-payment! He couldn't use the $5,000 to cancel anymore than $5,000 worth of accumulated interest. That would be like you not paying your credit card bill, then calling the bank and asking if you can just pay only a little bit of it to settle the entire debt. That may happen eventually, but only after your debt has been sold to someone else, for pennies on the dollar. And as for the claim that if the total debt is 4 Million, then anyone with 400,000 could just gobble it up, this is only an available option if every other note holder gives up and cuts their losses also.