Labor SMART, Inc.

February 11, 2016 13:08 ET

Labor SMART, Inc. Comments on Recent Trading Activity

ATLANTA, GA--(Marketwired - Feb 11, 2016) -   Labor SMART, Inc. (OTCQB: LTNC) (the "Company"), a leader in providing on-demand blue collar staffing primarily in the southeastern United States, today commented on the recent trading activity and volatility in its stock.

In the last few days, and this morning in particular, there has been an increased volume of trading and selling pressure in the Company's common stock. This has caused the Company's management to believe it necessary to advise our investors that this volume and selling pressure was not the result of any trading activity by the Company or its management.

The Company can also confirm that no conversions of debt into equity have occurred since the Company's announcement in December that it had entered into various settlement agreements with note holders. Additionally, the company believes that recent aggressive selling may be related to an attempted but failed conversion request by one note holder, that may have sold shares before delivery. The shares requested under this conversion request have not and will not be issued pursuant to the forbearance agreement.

Further, on February 9, 2016 the Company filed suit in the San Diego County Superior Court against the above referenced note holder for Breach of Contract and is seeking Declaratory and Injunctive Relief.

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.

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