KGIC Inc LGLTF

FYI

[Hawkeye2012]

Found this blurb for anyone who is interested

it was in the comments section of yahoo finance

https://finance.yahoo.com/news/loyalist-announces-record-first-quarter-130100259.html

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As a current employee I think it is time to set the record straight. Loyalist group has been running our school for just about two years. I am very proud of the people I work with and believe that an investment in our company is well made. However, the past two years the leadership of Andrew Ryu falls very short of the people who work for him. He tells investors of insane profits(by ESL industry standards) yet tells his staff that the company has no money for basic school supplies. Without going into distasteful details, he has broken his word on countless occasions. The latest was promising basic benefits for his employees and then reversing his decision citing insufficient funds. For all employees it was quite obvious his initial promise was just a calculated attempt to prevent employees considering unionization since two loylaist schools had just recently become unionized. When he reversed his decision it came across as deceitful and dishonest. No one trusts anything he says. What he tells investors and what he tells employees makes it sound like two completely different companies. I am not a proponent of unions, but unfortunately another loyalist school will soon unionize and the blame soley rests on Mr.Ryu's shoulders. This will be the third school to be acquired by loyalist to be become unionized under Mr.Ryu's leadership. He really has done a poor job at making any of us feel secure.

He cites 1500 hundred current students. This is simply not true. Students who complete letters of intention and never regisiter with payment are not students. If you doubt my word vist the schools and you can see how many students there are. Students numbers are down from last year. This is nothing to panic about as ESL is and up down industry often with seasonals peaks in the summertime. We have students, but not close to what Mr Ryu claims.

Also Mr.Ryu fails to mention that huge chunks of a student's tuition is paid to agencies that send many private schools students. Often charging 30 sometimes 40 percent of a student's tuition. So, if a students tuition is 1000 dollars the schools only sees 600 or seven hundred dollars.

I dont know where all this "revenue" is coming from since almost all of schools revenue comes from its student tuition.

I love our school and it really worries me that our CEO is misrepresting us to the world, setting us up for a fall. Our staff has good people who do good work. Its time for Mr. Ryu to speak the truth and represent out company accurately. And please no more acquistions for a while we dont want to be part of Mr Ryu's pyramid scheme. Buying more floundering ESL schools is not going to help. The need to show growth by buying anything that will sell to you doesn't do anyone any good.