How much has the debt been reduced with the first reported branch sale? It was a $1 million transaction, yet the losses went up $500,000 in the same quarter, payroll taxes payable increased, and notes were still not paid despite being severely late. On top of that, Schadel took out a $175,000 loan at 59% interest that required immediate daily...DAILY...payments.
Last quarter would have had a $1.5 million loss without the sale. That's ONE quarter! Just what do you think is going to be revealed for Q4?
I'll tell you that Schadel is likely going to try to pad the assets with his hundreds of thousands of dollars in stock purchases of 1. A shell company, and 2. An unproven Irish startup.
Smoke and mirrors. LTNC is a stinky pinky despite the best efforts of hard working people under a lunatic for a CEO who tweets about getting a McLaren in the middle of a stock promo from months of no-bid right after giving himself a $220,000 bonus.
Yet people cheered. What can I say? He's got his audience.
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