Replies to post #35495 on Labor Smart Inc (LTNC)

[cpw13154]

This is all so hilarious. This BOZO loves to twist numbers. It takes me back to when this was trading in the .60's-70's and he would boast how the company had record revenue's for this or that month.One itsy bitsy problem he forgot to take into account or neglected to mention that the reason for the increases was due to and only due to an increase in branches. It took awhile for people to grasp it but when they did we watch this tank month after month until it reach no-bid LOL. The proof as to the issue with revenues was brought to light as he had to get rid of branches. The big proof came with the ist quarter of this year when the revenue for 30 branches was actually less than the revenue for 15 branches in 2014. And what makes it even worse 2014 revenues came in millions less than projected! They say figures don't lie but liars try to figure!

[DD2Gain]

Once again, Schadel never says that note holders agreed to settle the debt for anything less than the fully amortized amount. He talks about cash payments for the principal plus a little interest, but a lot of "ifs" about fulfilling those agreements and whether or not the note holders accept that as full settlement. Not once has Schadel said: the note holders agreed to settle at x discount. He's said only that they agree to accept cash payment ONLY ON THE PRINCIPAL, which is just an extension of the original agreements that went unpaid past the maturity dates. There is no reason to believe he owes anything less than the $3.5 million in the last Q regardless of how much "voodoo" his "rocket scientist" accountant can do. In fact, the interest is likely still accruing.

Schadel simply doesn't have the cash flow to cover the debt and then there's the matter of $2,000,000 in unpaid payroll tax liability in addition to payroll for non-factored accounts receivable all while he drives around in his new McLaren tweeting about "haters" with his trip-zero stock pushing no bid...again.