- No Reverse Split
- No Convertible Debt
- Opening Two New Branch Offices
- Up to date with filings in Nevada by May, 2019
Hi Ryan, thanks for taking the time to speak with us. How is 2019 treating you and Labor Smart so far?
We are having the best yearly start in a long time. We usually expect a slow down during this time period due to seasonality and weather, but this year we are seeing weekly increases in revenues.
Can you tell us a little more about the company, and what exactly it focuses on, or will be focusing on?
Labor Smart provides On-Demand temporary labor to businesses. We provide short notice personnel to a large range of industries, from construction and logistics, to hospitality and retail.
Can you give us any insight into what you have planned for LaborSmart in 2019?
We are currently planning to open two new branch offices. We are also planning an interior remodel of most of our locations, to begin in the 2nd half of the year. We’ve got some exciting changes in our branch interiors coming, that should help us attract and retain the best talent.
Can you share with us some of your aspirations and strategy to rebuild LTNC to be bigger and stronger?
2019 is all about change and improvement internally at Labor Smart. We have an amazing Team and we are adding to that Team aggressively. We want to update and improve the training and the tools we provide our sales and service team so they can more effectively do their jobs. Internally, there is a lot going on right now that will shape the future of the service offering of the company. We are focusing on the culture more than ever. We want Labor Smart to be a fun and exciting place to work. There are lots of changes coming to reinforce this.
Can the shareholders expect any type of news or update anytime soon? (If so, can you expand)
I imagine there will be some press as we open new locations or if there is substantial news, such as an acquisition. We will likely have an update at some point in early summer, which would be livestreamed from our YouTube channel.
How will you continue to increase LTNC’s revenues in 2019 and into 2020?
We will continue improving revenue in existing branches by doing what we do every day, providing the best customer service to our clients and being competitive in the marketplace. We’ve added 20 new clients already this year and we’re still in January. We will open new locations as the existing branches reach capacity. We are also seeking acquisition opportunities. Those are harder to predict. The best deals pop up without notice.
Can you confirm to shareholders that there will be no Reverse Split in the near future?
I can confirm, there will be NO Reverse Split, EVER.
Recently you mentioned that you are behind with your state filings – Are you planning on being up to date within 2019?
I expect us to get everything with Nevada caught up by May. Obviously that’s subject to change but where I sit right now I have May as the latest date this should get done.
Can you confirm you will not be taking on convertible debt?
I can confirm, unequivocally, Labor Smart, Inc., and/or its subsidiaries, will never again take on convertible debt.
Furthermore, you mention you are ok with the stop sign. However, some investors who really like your company, cannot buy (broker restrictions). In 2019, are you going to attempt to take the stop sign down, so everything who is interested in LTNC can purchase shares?
I don’t see that happening in 2019. Perhaps in future years but it’s definitely at the lower end of priorities.
How are you going to be working on and fixing your S/S?
It’s easy enough, it’s just not very fast. Cash comes in. We take X amount and allocate it toward liabilities, then growth, then whatever is left over goes to buy shares. I personally buy shares when I can and return them to the Treasury. I can’t say this enough, it’s going to take time, more time than your average day trader is willing to hold, to soak up this float.