Labor SMART, Inc. Progress Report
Atlanta, GA -- March 01, 2016 -- InvestorsHub NewsWire
-- Labor SMART, Inc. (OTCQB:
LTNC) (the "Company"), a leader in providing on-demand blue
collar staffing primarily in the southeastern United States, today
provided the following statement from its President and CEO, Ryan
Schadel.
Over the last few months, Labor SMART has announced several
initiatives focused on restructuring its balance sheet and capital
structure. As committed, effective on February 29, 2016, the
Companys total authorized shares were reduced by 12 billion. This
important step is one component of a much larger plan. Furthermore,
the Company has taken steps to insure that no further unauthorized
share issuances occur.
In addition to this reduction in our authorized shares, on
January 25, 2016, a $2 million share buyback was approved. While
overall I am pleased with the progress made so far, we are actively
seeking opportunities to accelerate our initial buyback
program.
About Labor SMART, Inc.
Labor SMART, Inc. provides On-Demand temporary labor to a
variety of industries. The Company's clients range from small
businesses to Fortune 100 companies. Labor SMART was founded to
provide reliable, dependable and flexible resources for on-demand
personnel to small and large businesses in areas that include
construction, manufacturing, hospitality, event-staffing,
restoration, warehousing, retailing, disaster relief and cleanup,
demolition and landscaping. Labor SMART believes it can make a
positive contribution each and every day for the benefit of its
clients and temporary employees. The Company's mission is to be the
provider of choice to its growing portfolio of customers with a
service-focused approach that enables Labor SMART to be seen as a
resource and partner to its clients.
Follow us on Twitter: @laborsmart
Investor Relations: @laborSMART_LTNC
CEO - Ryan Schadel: @CRyanSchadel
Safe Harbor Statement
This release contains statements that constitute forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These statements appear in a number of places
in this release and include all statements that are not statements
of historical fact regarding the intent, belief or current
expectations of Labor SMART, Inc., its directors or its officers
with respect to, among other things: (i) financing plans; (ii)
trends affecting its financial condition or results of operations;
(iii) growth strategy and operating strategy. The words "may",
"would", "will", "expect", "estimate", "can", "believe",
"potential", and similar expressions and variations thereof are
intended to identify forward-looking statements. Investors are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, many of which are beyond Labor SMART, Inc.'s ability
to control, and that actual results may differ materially from
those projected in the forward-looking statements as a result of
various factors. More information about the potential factors that
could affect the business and financial results is and will be
included in Labor SMART, Inc.'s filings with the U.S. Securities
and Exchange Commission.
Contact:
Labor SMART, Inc.
shareholderrelations@laborsmart.com
