That's a bold assumption and highly unlikely. TSGL and LTNC are not merged. There is no sense at all in TSGL assuming ANY LTNC liabilities. Have you noticed that with all the branches liquidated thus far there has been no reduction in LTNC debt? Schadel is on the verge of bankruptcy. The only thing he is trying to do is square up with the $2 million he owes the IRS in payroll taxes since he can't get bankruptcy protection on that. However, it's pretty hard to do when so much debt is late and operational expenses exceed revenue. Schadel is on the hook for around $200,000 per month in CASH payments and we've already seen very strong indication that he is behind on the toxic note forbearance agreements.
It looks to me like Schadel is trying to salvage what he can by transferring operations to TSGL and leaving LTNC to rot. But, because there is no merger (in order to maintain the illusion of "arms-length" transactions) there are only so many tricks he can pull off in that regard. This is ugly...
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