Labor Smart Inc (LTNC)

[lam86]

It looks like Kimmy and Schady are trying to piggyback on another company's intellectual property and that company may have no knowledge of it. It I were TempBuddy, I'd be livid to have my product underhandedly associated with the likes of a fraudulent CEO.

Can anyone provide ONE SINGLE PIECE OF FACT that actually proves that this stock is fraudulent or a scam? Not a personal opinion, a FACT. This is a real company, with revenues reaching approx. $70 million since it started 4 years ago. That doesn't happen with scam companies.

Ryan has been doing too much for this to go down the shitter now. He has put in so much of his own money. And it's impossible to claim everything he has purchased has been with bonuses he has awarded himself. Tell me this...what is the total for bonuses he has given himself to date compared to how much money he has put into buying stock? Yup, you guessed it...the bonus total pales in comparison to what he's put into it; a $220,000 bonus...and over $750,000 in shares have been bought by Ryan alone.

A CEO with a failing company wouldn't put his own money into the stock. Since December, we have seen MULTIPLE notes paid off. Ryan claimed over a month ago that $800,000+ had been cleared from the debt total. And since then, he has paid off several more notes (with 8Ks to prove it) totaling in the hundreds of thousands of dollars. So I'm guessing the precious "$3.5 million in toxic debt" that keeps being claimed is nowhere near that number anymore.

Let's also talk about the IRS money he owes that keeps getting mentioned. If the IRS wasn't getting their money and wanted to shut him down, it would have already happened. The IRS doesn't mess around. So whatever money he owes them, he is clearly current with the payment plan and they are accepting of that plan. Some may think Ryan does nothing but play games, but you know who doesn't? The IRS.

LTNC's downfall happened because of expanding too quickly and too much toxic debt. Now Ryan is downsizing, which puts cash in the bank, and paying off those debts. Even keeping the app out of the picture, the bottom line will look so much better with only 10 branches and zero debt than 30 branches and millions in debt. When Ryan can get a grasp on the current situation, THEN we can get back to expanding the company. And if we want to bring the possible success of the app in, then we may not even have to attempt an expansion with brick and mortar offices anymore. The biggest thing is to get the financials under control; if that requires downsizing, so be it. I don't understand how anyone can claim that it's a horrible thing. If Ryan can downsize and get ahold of the financial side of things without having to sell the whole company, we are still in business.