Labor Smart Inc (LTNC)

[cpw13154]

As we cautioned, Labor Smart, Inc. (OTC:LTNC, LTNC message board) got some hot action yesterday, as the pump that was launched for the company picked up and sent LTNC shares nearly 59% up in a single day. Volume was blown out of proportion as well, at 536 thousand shares, against an average of 33 thousand.
Promoters Awesome Penny Pick first touted LTNC over the extended weekend break, disclosing that they have been retained by a third party who will be compensating them. However the disclaimer makes no mention of the sum in question, as allegedly no compensation has been received yet, even though the promotion's starting date is listed as February 16. The pump campaign is supposed to run for the duration of three weeks, again as per the disclaimer.




The previous promotion focused on the 2012 revenues of LTNC, that allegedly clocked at $7.1 million. After announcing that revenue for January alone was over $580 thousand, now the company has come up with more press hype, claiming that the next two weeks added another $570 thousand for a grand total of $1.15 million of revenue generated year-to-date. That looks like truly astonishing news, only it would have been much more impressive in the form of an official filing and not free-form press releases.