I am not anywhere near as experienced as many of you at trading. However, I have run and been involved in management in multi-million dollar businesses for over 40 years.
A good CEO will not concern himself with stock prices early on. They will only concern themselves with getting the company re-organized and profitable. I believe you may make yourself crazy thinking that there is any manipulation of this stock coming from management - its just not likely at this time.
Regarding the company 10k and management comments I would like to make a couple of comments to also help you not be too crazy.
1.) The more losses the company could get out of the way (front load) in 2019, the better for 2020. I'm quite sure that is why they front loaded all the management bonus' and probably other expenses. Its finished now and will not affect the P&L in 2020 and has actually set the company up to show significant increases in profit for this year.
2.) Those losses (2019) will also translate into significant tax savings in 2020 (carry forward losses). In other words, TLSS will not be paying any taxes for quite awhile and this can make a significant difference in paying off debt, cash flow and profit (since taxes reduce profit). They may even be due a refund of taxes paid in the past.
3.) Every move I have seen from this new management team looks like reorganizing to make profit and pay off debt including the renegotiating of the debt and bringing in other companies. This is not a manipulation or a trick to dilute or create investors or get cheap stock. These are real life moves to set the stage for profits and debt reduction.
4.) The PPP loan has not even been discussed by anyone. This is a gift from heaven. The company has to use 75% of this to pay employees but guess what??? The employees in this company are all still working driving and delivering product and the company is still getting paid for its services. Therefore, all their payroll is free for 8 weeks and their rents get paid too - also for FREE. Or...they can use this 1% money (loan) as cash to pay off high interest notes. I'm sure management is weighing its options on this free money now.
5.) There are some very high cost retail transaction fees being paid as a result of some accounts receivable financing done by this company in the past. Management has not mentioned these "loans" with any emphasis because when they were taken they were a very bad deal. However, new management has acknowledged that they need to go away and be replaced with reasonable financing. They have much time to accomplish this since these payments are made through deductions from daily transactions and are automatically withdrawn from the bank accounts on a daily basis. This reduces profit significantly but they will go away and when they do, profit per transaction will increase by 22%. This is an amazing amount of increase and in itself will make the company profitable.
6.) There is an obvious and typical conflict between management and auditors. This is why management issued a follow-up statement after the 10K that did not mention a Reverse Split. Auditors brought this up in their report (or someone who thinks its a good idea that is also on the board) because it was discussed at a board meeting. Management is not in favor of this and did not mention it. There are many stock value reasons why this will not happen but from a management point of view, this is a terrible idea - at this time and they will be far better served by just raising the stock price, organically. Management mentioned this in their follow up statement. In other words, the CEO does not agree with a Reverse Split - at least not now.
I have a lot more to say about this from a P&L viewpoint but I will wait to see what you think.
I am a returning gambler - just like you and again, I'm not a very experienced trader but I have seen many of you draw the wrong conclusions on the 10k and thought you might like to hear a different viewpoint.
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