Labor Smart Inc (LTNC)

[GreenHarvest]

You post is a very good chance to mention many of the great things about this company as a reminder to existing investors and to provide information to potential ones.

Gave himself raise and retired $70k worth (his purchase price)

I don't know what's the reason behind it, maybe it wasn't possible to do it directly through the company so he did it indirectly. All what I care about is that 706 million shares have been retired. And I really appreciate this action. When someone has $70k to enjoy however you like but he decides to buy shares and retire them, that's a good person in my book and a sign of a trustworthy person.

Not proven yet or finished (just talk), plus there was dilution, hence increased OS and reason he burned shares.

No it's no just talk, there were announcements backed with payment proofs (refer to post #45415).

Again, no money to do this, key word authorize and the phrase "up to". Common smoke and mirrors in penny land.

The share buyback is announced as a "future" action. Do you want to tell us that you can see the future and know there be no money? Seriously? The CEO personally bought 2.68 billion shares (out of which he retired 706+ million). At an average of 0.0004, that's $1+ million. I don't know where he gets the money from but it's obvious he has an access to funds that he can channel to the company to assist in accomplishing such actions if he needs too. One way or the other, its doable. The meaning of "up to" was clarified before but let's do it again. It means that he can not do it at one shot because it's legally related to the amount of available notes so the reduction should be done gradually with paid notes.

Means nothing, this was AS after all, plus he is only board member has voting majority can change back at anytime.

Seriously? announcing plans to retire 12 billion (60%) of the AS means nothing? Maybe for you but obviously it means a lot for many here (reasons are beyond the scope of this post). Yes he can change back that decision, but that means he can changed it forward too to increase the 12 billion reduction to say 16 billion after buying back and reducing the OS. A plausible scenario too, right? Besides, being the only board member means he can take the decision he sees for the benefit of the company without the friction of a big board. Whether you see this as a good or bad thing depends on how much you trust the CEO. Just remember that he now has the value of about 2 billion shares of his own affected by the decisions he takes so he is in the same boat with other investors and his benefit goes with the company's.

Used bonus for part of this which was funded with 59% loan on the shareholders. Rest was bought as part of pump to prop up stock long enough to secure yet again more loans.

You meant the same issues the CEO admitted for being mistakes and promised to work on correcting them and has done a lot in that regard? The issues that are considered as being part of the OLD LaborSmart, not the NEW, turning-around, recovering LaborSmart? The issues that are no longer valid and have become irrelevant? right?

Again hypothetical and nobody knows where it will go, Could be a flop.

Nobody knows anything but a lot here "expect" where it will go. The app economy has already been proven, look at Uber and Airpnp for example. The market has accepted it and that lays a good foundation. Whether LaborSmart will be able to do it right or not, that's another point, but again, it seems like some here expect it to. But wait, even without an app, the company already has a $20+ million in revenues and that in itself is huge. It says that it's not just a bunch of empty promises like many others in the penny land. The problem is that it still nets in loss (normal, like many other companies of all sizes including Fortune 500 companies). The next step is to correct the direction in start turning that loss into a profit. The good news is, this is already going on as I'm writing this post.

It's one thing to be positive, but let's not be too gullible here. Guys a snake oil salesman and has reinforced this for years. Why do you think this pr stunt is any different than the others before. It's not elaborate than all the LOI stunts and paying tens of thousands to penny stock promo companies over the years I'll give you that, but same olé schadel scam in a different iteration.

Actually there's are a lot of positive things going on here backed with documents and proofs to believe any word of this. For example, a guy who had more than 1 million in cash to do anything with but he decided to buy shares in his company, why? to scam others? that would be a very expensive scam don't you think? Anyway suit yourself but obviously many others truly believe in this company and its CEO and are investing in it.

You mentioned those points as bad things, but from an investment point of view, those points are among the reasons that this stock is currently trading in the trips and for creating such a huge investment opportunity for investors. The old chapter of the OLD LaborSmart has been closed with its mistakes admitted and are no longer relevant, and even became learning lessons for the future. We are now in the NEW recovering LaborSmart chapter that includes among many great things a $20+ million in revenues being worked on to grow and convert the loss to a profit, that's where current investors are looking.