$LTNC has huge LOI news out!
http://finance.yahoo.com/news/labor-smart-inc...00729.html
Labor SMART, Inc. Receives LOI
ATLANTA, GA--(Marketwired - May 27, 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 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."
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.
Contact:
Hayden IR
917-658-7878
shareholderrelations@laborsmart.com
http://finance.yahoo.com/news/labor-smart-inc...00729.html
Labor SMART, Inc. Receives LOI
ATLANTA, GA--(Marketwired - May 27, 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 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."
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.
Contact:
Hayden IR
917-658-7878
shareholderrelations@laborsmart.com
