CASH COW

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LTNC 8K Just Out ~ Form 8-K for LABOR SMART, INC.

27-Jan-2015

Other Events
http://ih.advfn.com/p.php?pid=nmona&article=65254586
Item 8.01 Other Events.

On January 27, 2015, the Company entered into three Partial Note Payment Agreements (the "Agreements") with holders of outstanding convertible promissory notes of the Company (the "Notes") to partially pay off the Notes with cash. The Notes required the prior written consent of the lenders in order to satisfy any of the Notes with cash. Under the first Agreement, the Company shall pay $25,000 in cash to satisfy $20,000 worth of principal due under a convertible promissory note dated June 6, 2014. Under the second Agreement, the Company shall pay $64,000 in cash to satisfy $53,000 worth of principal due under a convertible promissory note dated July 8, 2014. Under the third Agreement, the Company shall pay $64,000 in cash to satisfy $53,000 worth of principal due under the convertible promissory note dated July 22, 2014.