Replies to post #18537 on Labor Smart Inc (LTNC)

[sobe4life]

CPW13154 YOU ARE WRONG!!!!

cpw13154

LOL if this way over a million dollars is not a big deal except for those of us who live in a trailer park then why did they not pay the taxes when they were required too and avoid the IRS coming after them and putting a lien on the entire business?

The amount owed IS NOT and NEVER HAS BEEN way over a million dollars. The fact that we keep implying something that is factually incorrect goes beyond concerning.

The IRS never "went after" the company and put a lien on them. The company knew they were behind the one quarter in payroll taxes and negotiated an Agreement that would repay the amount owed. Part of the Agreement was a lien which did not take a first position so that it would not interfere with LTNC's ability to finance receivables.

Had the IRS gone after the company, we would not have seen them remove any associated penalties and most certainly they would have a first position lien in place. THIS IS NOT THE CASE!

cpw13154

If its no big deal then why does the idiot CEO keep borrowing all this toxic money?

As explained MANY TIMES previously, there is no other source of financing available to OTC companies out there. If we do not like companies that raise capital from convertible notes then DO NOT INVEST IN COMPANIES THAT TRADE IN THE OTC!