Labor Smart Inc (LTNC)

[lam86]

First, let's not forget that he does still have branches open and bringing in money, whether it is the "slow season" or not. And he just sold a branch for over $300k cash. So it's not like the $100k in the bank is ALL he has to work with.

Secondly, Ryan has made it clear that he has an all-cash agreement with most (if not all) of the note holders, and that they are accepting less than what is owed in order to get the notes paid off in a short amount of time. So while the financials show 3 million in toxic debt, we can assume that's not the total amount he has to pay.

But yes, more money seems to be coming from somewhere. No one can say from where for sure until we see the financials, so I won't even speculate. It could be good or bad. I don't know. For the sake of myself and the longs, I hope it's something positive.