Replies to post #15394 on Labor Smart Inc (LTNC)

[DD2Gain]

That $1M is not true as I have already demonstrated. The report line you reference for that total is for the total liability for the year including interest. There have been several loans paid off since the 3Q10Q amounting to several hundred thousand dollars as well as partial amortization of the remaining outstanding loans. The PR's are there. This talk of new convertibles is unsubstantiated as of yet.

$LTNC

[DD2Gain]

LTNC has been public for over two years. If there were such a pattern of borrowing $200K every two months and, as you suggested earlier, it's just to pay off old loans (death spiral) we'd be pushing $3 million in principle convertible debt just to keep up with that pattern and about $5 million total to pay the interest and steep prepayment penalties.

The pattern isn't there. We are well under $1 million total convertible principle at about $740K per the 3Q10Q and subsequent PR's. The debt is being paid off, not being replaced or anything remotely similar to death spiral financing.

What's hurting this stock are open-ended conversion agreements, which Schadel needs to stop using if he expects this company to be taken more seriously.

$LTNC