One of the largest share retirements in Company history - advancing LTNC's share structure reform and strengthening long-term shareholder value.
JACKSON, WY / ACCESS Newswire / August 19, 2025 / Labor Smart, Inc. (OTCID:LTNC) today announced the retirement of approximately 717 million common shares and 20 Preferred H shares to treasury. This action marks one of the most substantial share retirements in Company history and underscores LTNC's commitment to reducing dilution, improving its capital structure, and creating long-term shareholder value.
In addition to the share retirement, the Company has eliminated more than $2.3 million in legacy obligations by retiring prior debt instruments, promissory notes, and private placement memoranda, consolidating them into a single convertible note. This decisive action simplifies LTNC's balance sheet, removes historic overhangs, and provides a cleaner financial foundation to support growth.
Leadership Commentary
Brad Wyatt, CEO of LTNC, stated:
"Since the first countdown related to the Adios announcement, neither LTNC's C-level officers nor members of the Board of Directors have sold any of their personal holdings in LTNC. Recent regulatory disclosures required the filing of supplemental statements to position certain shares based on individual portfolio management. To be clear, as of today's date and dating back to July's Adios announcement, no sales of LTNC stock have been made by LTNC's C-level officers or Board members.
This statement does not intend to limit the individual right of officers or directors to manage their personal portfolios in the future, provided all transactions comply with regulatory requirements. However, it is important to note that from July to the present, none of the selling activity in LTNC stock has involved the Company's Board or C-level executive leadership.
The social media narrative suggesting LTNC's leadership has used the stock as an 'ATM' or orchestrated hype for personal gain is unfounded and inconsistent with the facts. On the contrary, LTNC has executed one of the largest share retirements in its history, eliminated over $2.3 million in legacy obligations, and consolidated debt into a cleaner, more sustainable structure. Further, the recent retirement of 20 Preferred H shares, equivalent to two billion common shares, approximately 10% of the outstanding share count, permanently removes a significant source of potential dilution. These actions demonstrate alignment with shareholders and a long-term commitment to value creation, not short-term opportunism. The Board and the C-level team remain fully aligned in advancing LTNC's transformation plan, committed to continued transparency, accountability, and shareholder-first reforms."
Tom Zarro, Board Member of LTNC, added:
"The Board has been aligned on bold, shareholder-first actions, and this is one of the most impactful to date. Retiring this massive block of shares and removing historic obligations marks a turning point for LTNC. Investors should know that more reforms are underway, and the Company's trajectory has never been stronger."
Share Structure Reform & Road Ahead
This announcement is a milestone in LTNC's broader share structure reform initiative, designed to:
Reduce the outstanding share count and dilution,
Retire and consolidate legacy obligations,
Increase financial flexibility, and
Position the Company for sustainable growth across its expanding portfolio of consumer brands.
Management confirmed that additional measures are in progress and will be announced in the coming weeks, reinforcing LTNC's focus on transparency, accountability, and shareholder value creation.
About Labor Smart, Inc. (OTCID:LTNC)
Labor Smart, Inc. (OTCID:LTNC), headquartered in Jackson, Wyoming, serves as a brand accelerator and distribution platform in the beverages, wellness, and lifestyle sectors. Through its subsidiaries and partnerships, LTNC manages the commercialization and distribution of emerging and established brands, creating value for both consumers and shareholders.
Forward-Looking / Safe Harbor Statements
This press release includes forward-looking statements involving risks and uncertainties. Actual results may differ materially from expectations. LTNC undertakes no obligation to update forward-looking statements to reflect subsequent events or circumstances. This press release contains 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. It is intended to be covered by the safe harbor created by such sections and the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "projects," "may," "will," "should," "could," "potential," "continue," and similar expressions. These forward-looking statements are based on current expectations, estimates, and projections about the Company's industry, management's beliefs, and certain assumptions made by management, and are not guarantees of future performance.
CONTACT
Labor Smart, Inc.
Investor Relations
Email: ir@laborsmartinc.com
SOURCE: Labor Smart, Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/food-and-beverage-products/labor-smart-inc.-otcid-ltnc-retires-717-million-common-shares-and-20-pre-1062720
