Labor SMART, Inc. Extinguishes $800,000 in Convertible Debt
Atlanta, GA, United States, via NUZINET CORP., 02/24/2016 - -
Labor SMART, Inc. (OTCQB:
LTNC) (the "Company"), a leader in providing on-demand blue
collar staffing primarily in the southeastern United States, today
announced that since the beginning of the 4th Quarter 2015, the
Company has eliminated over $800,000 in convertible notes payable
through its structured cash payment agreements with
noteholders.
Ryan Schadel, President and CEO of Labor
SMART, Inc. commented, We are making great progress as we
reposition the Company for future growth. I look forward to
providing updates on the many initiatives the Labor SMART Team is
working on, including final elimination of convertible toxic debt
from our balance sheet, the launch of our Skillcorps platform, our
ongoing discussion surrounding The Staffing Group, Ltd., and our
crowdfunding concept for future expansion.
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