Command Center Inc (fka CCNI)

[360spyder1]

CCNI, LOI/buyout offer for publicly traded competitor $296,000 market cap Labor SMART....

Labor SMART, Inc. Receives LOI Published: May 27, 2015 8:31 a.m. ET

"Company to Carefully Review Offer

ATLANTA, GA, May 27, 2015 (Marketwired via COMTEX) -- 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 it has received an unsolicited Letter of Intent.

On May 26, 2015 the Company received a non- binding Letter of Intent from Command Center, Inc., a publicly traded direct competitor of Labor SMART, to purchase substantially all of the Company's assets for cash.

Ryan Schadel, Chairman and Chief Executive Officer of Labor SMART, stated, "I appreciate the vote of confidence in our business from a formidable competitor in our space. A sale of our assets to Command Center looks interesting but there is much that must be considered. Labor SMART is still very much a startup company and our shareholders have been very supportive and patient while we work through our capital structure challenges and debt load. While I can see how our growth engine would be an attractive acquisition, taking our chips off the table now seems premature. The offer will be reviewed carefully with legal counsel and major stakeholders, though at first glance it appears to be inadequate. We will respond promptly and appropriately."

http://www.marketwatch.com/story/labor-smart-inc-receives-loi-2015-05-27?siteid=bigcharts&dist=bigcharts