Labor Smart Inc (LTNC)

[DD2Gain]

Schadel is probably THE majority shareholder in TSGL:

30,120,013 shares of Common Stock

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11307656



Labor Smart owns 3,758,618 shares of Common Stock

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11039041


Schadel just doesn't have controlling interest anymore.

1 share of Series A Preferred Stock owned of record by Labor Smart, Inc., a Nevada corporation. Such share will be transferred to Kimberly Thompson, a resident of Douglas County, GA, upon the consummation of the transactions contemplated by this Agreement.

But it still leaves a very big question about the "arms-length" connection between LTNC and TSGL when LTNC is a majority shareholder and the COO of LTNC is also the CEO of TSGL and holds sole controlling interest of a company that just signed for a giant loan from a very aggressive Cayman Islands toxic lender who is expecting repayment of roughly $1.5 million by October 5th despite the fact that TSGL has exactly $0 in revenue.

I suspect Schadel may be making his own offshore plans and Kimberly Thompson is going to find herself in a world of hurt for her boyfriend.