Replies to post #28821 on Labor Smart Inc (LTNC)

[megagnome]

Recipe for small business failure:
You build a company in a growing sector that seems to be doing well, you want to expand, but you don't have the cash flows to support expansion. You go to the bank to get a loan, and they reply that you haven't solidified your stance in this space to the level that they feel is necessary for them to place their faith in your model. A.K.A. "You're not big enough". The bank is smart enough to see that rapid expansion is not conducive to solid returns, given your model. You disagree. Instead of putting your nose to the grindstone and trying to increase revenues, you grow a chip on your shoulder so big that you forget you are trying to build a business and focus instead on trying to prove to the banks that you have your very own pair of big boy pants. So you throw a hissy fit and reply with "I'll show them whose not big enough" and proceed to seek funding from corporate raiders whose only ambition is to make themselves money. You actually state in a PR that you underestimated the effect that convertible notes would have, and then begin to spin a convoluted web of lies and engage in deceitful behavior to try to save your sinking ship. You spend 25M to make 20M, and then tout your "record revenues". All the while maintaining that you have a plan to repair the share structure. That plan, apparently, includes adding more toxic debt, increasing the AS to a level that is 20X what you raised it to two weeks before when you said they were only for "reserve", stop paying taxes and start making up bs companies to absorb your tax problem, or something like that. You give your dad 80,000 a year to do nothing, you promote your girlfriend to operations manager, and you force out anyone on the board with any knowledge about how to run this business. .

But I'm the one who doesn't know anything. Ok.

BTW, If you consider the measure of the worth of someone's opinion to be derived based on how long they have been surfing penny stock message boards, then you deserve everything Ryan Schadel gives you. You should definitely empty your savings and bet it all on this magnificent CEO.