Painting w/unreadable signature but a Vanguard Studios stamp on frame?

I found this painting last week at a thrift store; I can't make out the signature, but on the back of the frame there is a Vanguard Studios Inc. 1967 stamp.
Is this by Vanguard Studios or did someone just reuse the frame? All the Vanguard Studios paintings I remember had Lee Reynolds signature.
And I don't remember any done on board?
Can anyone tell me who the artist is?
Thank you!

 

This person has a similar one that they think says Stuart.

https://www.ebay.com/itm/144210975773

 

I found a few signed in a similar way that say it's Stuart Reynolds, brother of Lee. No idea if that's correct.

https://www.liveauctioneers.com/item/73447300_stuart-reynolds-pair-of-mid-century-modern-paintings

 

I have to give credit to Lee Reynolds- he taught painting but had all his students sign his name & then sold the good ones - great promoting!
Thank you say_it_slowly!

 

Promoting?! Not what I'd call it. Rather like all the Drs, and professors who take credit for their students work.

 

Subject is Spartan (Greek) soldier in case you don't know.

Debora

 

Maybe Stuart and Lee did the same thing. Comparing yours to the one in the link, it's not difficult to imagine two different hands: