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Thursday, August 11, 2022

Insider Buying Sparks Labor Smart Inc (OTCMKTS:LTNC)

Labor Smart Inc (OTCMKTS:LTNC) continues to make higher highs and higher lows in recent weeks transforming from illiquid to one of the top most traded stocks on the entire exchange.

The move up comes after the CEO Ryan Schadel, who has hinted on twitter that big things are in the works for LTNC started buying stock on the open market. LTNC has been working hard with note holders who can do 0 conversions going forward all on a monthly payment plan.

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.

LTNC bills itself 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.”

LTNC is a growing Company with significant revenues and a CEO that seems serious about growing the Company long term.

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In August LTNC filed its 10Q for the quarter ending June 26, 2015. Highlights for the Quarter include: -Revenue of $6.37 million -Gross Profit Margins improved to 27.12% vs. 21.21% a year ago -Record Gross Profit of $1.727 million -Net Loss reduced by 39.5% to $564k vs. 933k a year ago.

CEO Ryan Schadel said “Our results from the second quarter of 2015 illustrate the fantastic progress being made. Last year’s decision to shed a sizeable book of business had minimal impact on year over year revenues as we replaced low margin, high risk business with more profitable customer relationships. Despite the $68k year over year decline in top line revenue, the Company’s gross profit surged to record levels.”

On August 20 LTNC provided an update on its acquisition strategy. CEO Ryan Schadel said “On August 19, 2015, Labor SMART, Inc. delivered a non-binding letter of intent to acquire the operating assets of a regional staffing company with multiple branch locations across the southern US, providing skilled and unskilled employees to small and medium sized businesses. Our initial due diligence suggests that this business will produce $12-13 million in revenue for 2015. The business does not have an On-Demand model and we would not seek to change it, rather we would seek to expand on it.”

On December 28 LTNC announced Bud Little has joined Labor SMART, Inc.’s newly created advisory board. Mr. Little has 25 years of senior executive leadership experience and has completed $1.1 billion in equity and debt financing and restructuring, as well as 31 acquisitions and divestitures valued at $1.3 billion.

Since 2009, Mr. Little has been President of SFL3 LLC, a provider of strategic, financial, technology and human resource consulting services to clients throughout the U.S. and internationally.

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Currently trading at a $7.3 million market valuation LTNC has minimal assets and a significant debt problem that has resulted in massive dilution in the past evidenced by the current pps. But LTNC is an exciting story developing in small caps; the Company is growing very quickly and fast emerging as a revenue powerhouse on a level that very few OTC ever achieve. It is little surprise the stock has quickly attracted a massive shareholder base who, along with the CEO are buying up the float. We will be updating on LTNC when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with LTNC.

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Disclosure: we hold no position in LTNC either long or short and we have not been compensated for this article.

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