Labor SMART, Inc. to Crowdfund Next Phase of Expansion
Atlanta, GA, United States, via NZINET CORP., 01/06/2016 - -
Labor SMART, Inc. (OTCQB:
LTNC) (the "Company"), a leader in providing on-demand blue
collar staffing primarily in the southeastern United States, today
announced its intention to utilize crowdfunding for its next phase
of expansion in order to strategically neutralize the slow growth
effects of its balance sheet restructuring initiatives.
Ryan Schadel, President and CEO of Labor SMART, Inc. stated,
"Through recently enacted crowdfunding legislation, commonly known
as the JOBS Act, I believe there is an opportunity for Labor SMART
to keep its balance sheet restructuring initiatives on track
without sacrificing long term growth opportunities. I was shocked
from the quick interest The Staffing Group, Ltd. received when
launching this new funding model to open a branch location under
the licensing agreement with Labor SMART, Inc. We intend to deploy
this same model, or some slight variation of it, for our next leg
of expansion. This approach will conserve precious Labor SMART,
Inc. financial resources while at the same time offsetting
corporate overhead costs, will boost assets on the balance sheet,
and add substantial growth to revenue. Equally important, this new
funding model will allow the Company to fund a large portion of its
growth plan without the need to issue new Labor SMART, Inc. stock
or take on high cost debt."
Labor SMART, Inc. expects to provide shareholders with a
detailed overview of the new funding model in conjunction with its
announcement of the crowdfunding platform that has been selected to
facilitate the model.
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.
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. THIS IS NOT AN OFFERING OF SECURITIES AND
NOTHING IN THIS RELEASE SHOULD BE DEEMED TO BE AN OFFER TO SELL
SECURITIES.
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Contact Information
Labor SMART, Inc.
shareholderrelations@laborsmart.com