Labor Smart Inc (OTCMKTS:LTNC) continues to be in steep decline in recent trading. The stock saw an explosive move up at the end of last year but has been drifting since. LTNC has dropped a long way since the highs over $0.80 the stock commanded in 2013.
On December 3 LTNC announced 20% revenue growth to $1,633,364 for the November 4-week comparable time period versus a year ago. This continues a 24-month streak of year-over-year increases for the Company. Year-to-Date 2014 revenue has exceeded $22.5 million, compared to $16.6 million for all of 2013.
Labor Smart Inc (OTCMKTS:LTNC) provides On-Demand temporary labor to a variety of industries through 30 offices. 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.
Back in October the Company said that they will be expanding their social media presence to include, on occasion, material non-public financial information.
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“The SEC has provided guidance to issues regarding the use of social media to disclose material non-public information. In this regard, investors and others should note that we announce material financial information on our investor relations page, which can be found on our website, laborsmart.com. In addition, we will be expanding our presence on social media to include it as another means of communicating with the public about our company and our services.”
According to the Company’s website ”Labor SMART is emerging as one of the premier temporary labor providers in the United States because of our commitment to reliability, flexibility and dependability. Our staffing professionals are ready at a moment’s notice to help your business meet its immediate production deadlines, staff shortages, or short notice temp labor needs for any task.
When it’s your business to maximize productivity with a temporary labor staff, it’s our business to provide you with the best of the best in on-demand labor. Whether you need a short-term helping hand, a skilled team of craftsmen, or a team of long-term laborers, Labor SMART will provide the muscle you need for your business.”
From the last 10Q LTNC announced $6,437,976 in sales for the 3 months ended June 27, 2014 up from $ 4,037,040 for the comparable period in 2013. This puts the Company on track to to $20 million in 2014, huge numbers for any bb stock.
LTNC is a growing Company with significant revenues and a CEO that seems serious about growing the Company long term. Maybe if they can get the debt holders out at current cheap prices and put these shares into strong hands going forward LTNC might be ready to for a significant reversal in fortune. Currently trading just over its recent $0.011 all-time lows LTNC is a stock to watch here and might just provide a spectacular trade opportunity in the coming weeks and months ahead.
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The stock has come to life after reversing off $0.0013 and shareholders are finally excited again as LTNC sees an explosion of trading volume and price.
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Disclosure: we hold no position in LTNC either long or short and we have not been compensated for this article.