You've been around long enough that you should know what this CEO is about. The only lie I know of is the one he told me by email about being "current on all tax obligations" in January 2014. Everything else has been half truths and withholding of material information until his hands were truly forced by SEC requirements. As documented in the filings with proper and thorough DD:
It took Schadel until August of 2014 to disclose to shareholders that he owed over $1million to the IRS for 2013 payroll taxes. This was despite the 2013 10k released in April that included subsequent events through March.
Schadel has been using new toxic notes to keep up with toxic note payments and payroll. The toxic notes were a surprise because Schadel released update after update about how this or that note was being paid off in 2013 only to reveal literally millions in additional toxic financing in the 10k...in April. All the while, Schadel communicated several times that he was on he verge of eliminating toxic notes and wouldn't engage in any more.
Schadel quite directly said that 1billion shares would not be necessary in the 2014 letter to shareholders dated October, I believe. Yet, here LTNC sits at 20 billion AS and 5 billion OS that is irrefutable.
Schadel must think his shareholders are downright stupid because after all of that he tries to convince them that he is going to use an RS to uplist while the stock sits at .0001 for months, no bid, almost no volume, and with $2.3 million in toxic debt on the books. You do the math and figure out what kind of RS Would be necessary to meet even $1 pps before the dilution he promised (his only bona fide promise) following the RS.
Aside from the taxes, Schadel has actually provided shareholders all they need to know because the SEC requires it even if after the fact. It's up to investors to be smarter than the game masters.
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