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Lots of interest for a .0001 stock, that maintained volume with massive buys here and there for the last 9 months
Going to be a good week!!
What about the 1.5 billon purchased in a few weeks early summer..
Think it was someone elses post, I agree, just want to keep posting the facts
NEWS Recap form 2nd qtr 10q, heading in the right direction back to huge profits & success; 4 year old company with huge potential.
$LTNC Reports Second Quarter 2015 Financial Results:
Gross Profit Surges 26% Year over Year
Atlanta, GA, United States, via NZINET CORP., 08/18/2015 - - Labor SMART, Inc. (OTCQB: LTNC) (the "Company"), a leader in providing on-demand blue collar staffing primarily in the southeastern United States, today announced it has filed its 10Q for the quarter ending June 26, 2015.
Second Quarter 2015 Highlights:
-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
"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," said Ryan Schadel, President and CEO of Labor SMART. "In addition to achieving record gross margins, we also reduced our net loss substantially. Year over year net losses are expected to shrink further in the coming quarters and Labor SMART will continue to pursue smart growth opportunities that we believe will drive profitability and position the Company to provide the best experience to our customers across multiple geographies."
Over the last week, the Company has received several inquiries from shareholders and is providing the following answers to those questions:
Q: You've stated before that 100 offices nationwide was your goal, but you've recently sold 5 locations. Has the goal changed?
A: The goal has not changed but the plan has evolved. The major contributor to this evolution was becoming substantially self-insured last year. This changed our financial model drastically, making acquisitions more appealing than organic expansion. Acquisitions do not impact the Company's financial statements in the same way that organic expansion does.
Q: Is the note that Command Center, Inc. bought in default?
A: The Company believes that prior to the sale of the note to Command Center, Inc., the terms of the note were amended by the prior note holder to allow the note to be repaid in monthly installments. The Company provided documentation to the new note holder that, it believes, substantiates the amendment. Additional details regarding this note and the Company's legal action against Command Center, Inc. are included in our recently filed 10Q.
Q: Payroll taxes payable appears to have gone up in the new 10Q. What happened?
A: Early in 2015 the Company created several subsidiaries. Operations were strategically placed into these subsidiaries in preparation for state income tax management strategies on future profits. These subsidiaries were quarterly schedule tax depositors, whereas the parent company is a semi-weekly depositor. The increase in payroll taxes payable from Q1 2015 to Q2 2015 is driven by the change in the required deposit schedule. All taxes accrued during Q2 2015 were paid subsequent to the calendar quarter closing as required.
Q: I see there is a new convertible note agreement on June 1, 2015. I thought we were done with those?
A: The note from June 1, 2015 was part of an extension of a prior note entered into on August 8, 2014. Half of the prior note was refinanced at no material cost to the Company and the maturity date was extended into 2016 at the Company's request.
Q: Is the Company planning to do a reverse split soon?
A: No.
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.
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.
Link back to original article on NuziNet.com
Link back to Labor SMART, Inc. on NuziNet.com
Contact Information
Contact:
Labor SMART, Inc.
shareholderrelations@laborsmart.com
You should sticky this....
You gotta be kidding me...
Exactly, LTNC is going to take off soon. Thanks for pointing it out
NEWS Recap form 2nd qtr 10q, heading in the right direction back to huge profits & success; 4 year old company with huge potential.
$LTNC Reports Second Quarter 2015 Financial Results:
Gross Profit Surges 26% Year over Year
Atlanta, GA, United States, via NZINET CORP., 08/18/2015 - - Labor SMART, Inc. (OTCQB: LTNC) (the "Company"), a leader in providing on-demand blue collar staffing primarily in the southeastern United States, today announced it has filed its 10Q for the quarter ending June 26, 2015.
Second Quarter 2015 Highlights:
-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
"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," said Ryan Schadel, President and CEO of Labor SMART. "In addition to achieving record gross margins, we also reduced our net loss substantially. Year over year net losses are expected to shrink further in the coming quarters and Labor SMART will continue to pursue smart growth opportunities that we believe will drive profitability and position the Company to provide the best experience to our customers across multiple geographies."
Over the last week, the Company has received several inquiries from shareholders and is providing the following answers to those questions:
Q: You've stated before that 100 offices nationwide was your goal, but you've recently sold 5 locations. Has the goal changed?
A: The goal has not changed but the plan has evolved. The major contributor to this evolution was becoming substantially self-insured last year. This changed our financial model drastically, making acquisitions more appealing than organic expansion. Acquisitions do not impact the Company's financial statements in the same way that organic expansion does.
Q: Is the note that Command Center, Inc. bought in default?
A: The Company believes that prior to the sale of the note to Command Center, Inc., the terms of the note were amended by the prior note holder to allow the note to be repaid in monthly installments. The Company provided documentation to the new note holder that, it believes, substantiates the amendment. Additional details regarding this note and the Company's legal action against Command Center, Inc. are included in our recently filed 10Q.
Q: Payroll taxes payable appears to have gone up in the new 10Q. What happened?
A: Early in 2015 the Company created several subsidiaries. Operations were strategically placed into these subsidiaries in preparation for state income tax management strategies on future profits. These subsidiaries were quarterly schedule tax depositors, whereas the parent company is a semi-weekly depositor. The increase in payroll taxes payable from Q1 2015 to Q2 2015 is driven by the change in the required deposit schedule. All taxes accrued during Q2 2015 were paid subsequent to the calendar quarter closing as required.
Q: I see there is a new convertible note agreement on June 1, 2015. I thought we were done with those?
A: The note from June 1, 2015 was part of an extension of a prior note entered into on August 8, 2014. Half of the prior note was refinanced at no material cost to the Company and the maturity date was extended into 2016 at the Company's request.
Q: Is the Company planning to do a reverse split soon?
A: No.
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.
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.
Link back to original article on NuziNet.com
Link back to Labor SMART, Inc. on NuziNet.com
Contact Information
Contact:
Labor SMART, Inc.
shareholderrelations@laborsmart.com
Why was this removed from sticky?
Show me another Otc stock in this great of shape....
I think more like the 15th, but it's getting real close!!
Please sticky mod, thanks
Big dip in command centre.. I can't wait until LTNC runs, going to be good
The fact that a no bid stock board is still pretty active after so long tells you something....
The bleeding.... That's funny....
They will have a 20m revenue year, that's not bleeding...
Can't wait!! Get ready for a big run
Looks like command centre is taking a bit of a dive... 52 week low, I'm sure the lawsuit has something to do with it...
How is this a sticky....
It's going to be great!! Let's hope they settle out of court soon, pay off debt and sky rocket!!!
Have a look at the volume the last few months.... Don't think there's that many gullible people buying! This is a great play
#12 on the breakout board!! We're getting close... Do your own DD, this company is starting to go in the right direction
So what would a company at .2 to .8 cents on the stock market be evaluated at? A company that has in only 4 years produced 20+ mil rev years?
If there was no debt, how much would this company be worth??.... Honest question?? Because before the debt it was in the mid .20-.50cents, correct?
Hahaha.... Ltnc will see pennies!!!
How is the water still coming in...
No new note for almost a year...
All three of them!!!
Here's shady
26. On information and belief, Defendant has been contacting note holders
since May 29, 2015, and notifying them that it defaulted Plaintiff, and in some cases,
requested other note holders join Defendant in a petition for involuntary bankruptcy,
where they would be able to essentially buy the operations for pennies on the dollar.
27. Defendant purchased the convertible note with the sole intent of putting
pressure on Plaintiff to sell to Defendant below market price. It is seeking to discredit
Plaintiff with false information and engaging in a campaign of providing misleading
information and false claims to note holders and the public.
28. Plaintiff’s relationships with note holders, with whom it has worked
diligently with and in good faith to avoid default, has been compromised. Plaintiff’s
This won't go to trial, there's going to be a settlement of some sort, and LTNC will come out ahead. All that you mention are things that have been recognized and are being delt with currently. This is going to go up, but I'll say it so you don't have to..
RS/BK on its way...... Buy!
Just the cost of the note?? Might be more....
since they haven't taken a new note in almost a year, i think there on a uphill climb with managing there $. I don't see bk in the near future, especially after the 1.8m sale and being on track for another 20+ m year. The labour market is a 100+ b $ industry, Ltnc has done a lot in 4 years to get a chunk of it, they will be just fine after ccni hands over a pretty penny for there hostile attempt. The next few months will tell!
What do you think will happen with the lawsuit cpw?? Honest question?
RS/bk......... Hahahahaha!!!
Looks like command centre is slipping, there going to take a huge hit. what do you think is going to happen with the lawsuit dd???
Command centre is going to owe them more then that...strong "if"it goes to trial, either way Ltnc is going to come out with enough cash to cover its debt.
Let's not forget the 1.8m they recorded for the sale of a few branches!!
Hahahaha.....BK/RS!!!!!
More like buy out and pennies!!!
Thank you! I think a big volume day is coming soon... Ltnc is in the right place, patience is going to pay off with this little 20 million $ revenue company!!!
Is there a trial date set yet?
I don't think we'll see anything until the q3 in November.. I got all the time in the world, wish I could free up some cash to grab some more..
Too the moon!!!
Nice try..... I'm in no rush to watch this one run
Yeah, it's going to be a great donation!
Looks like command center will be giving up some cash...
I think tomorrow is the day I buy some more..