Did we forget the fact that the number of shares is going to be increased to One Billion. Did we forget that he couldn't pay the payroll taxes so now the IRS is a partner. DId we forget to mention that when anyone touts the revenue records the only reason for that is he likes to compare revenue figures from 15 places to 31 place. Gee I wonder if that's why the numbers are up. Did we mention that this was trading in the .80's and now has dropped to where its almost a sub penny. These are just a part of the reason for the sharp decline.
The Company proposed an amendment to our Articles of Incorporation that would increase the number of authorized shares of the Company’s common stock from 150,000,000 to 1,000,000,000
The Authorized Increase Amendment was unanimously adopted and approved on October 22, 2014
Oct 22, 2014 Labor SMART, Inc. Provides Shareholder Update
"Today, I am taking a proactive step of increasing our authorized shares to 1 billion." ...there is no intent to issue this many shares and to the contrary, this move protects shareholders"
"steps are being taken to address the current stock price as well as the overall market cap"
"should our stock price languish at its current levels for an extended period of time, the board will authorize a stock buyback to remove shares from the public float."
"after the first 3 weeks of October, our revenue is already in excess of $1.6 million and October could be our biggest revenue month in the history of the company."
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