Labor Smart Inc (LTNC)

[lam86]

For those complaining about branches being sold, here is my point of view.

You keep throwing out that 15 branches made more than the 30 branches did. Yes, this is true. We can't fight that. So why is it bad that he is closing these branches? Sell the low-performing branches, get the money you can from them, and apply it to the toxic debt and buyback program. This greatly assists in getting LTNC back in the right direction. Imagine what will happen after Ryan has completed these deals and has enough money to completely erase the company's debt. No more debt will then turn into not just revenue for the company, but PROFIT. The profit can then be applied to fixing the share structure. Fixing the share structure turns into a much higher PPS, which is a win for everyone.

If it requires Ryan selling branches...even getting back down to 12-15, who cares? If that is what it takes to take back control of an out-of-control business, then I am with Ryan. The problem would be if Ryan continued to not do anything. But he is extremely active in fixing the problem he got himself into. I don't think anyone can deny that.