Labor Smart Holds 2nd Annual Shareholder Meeting on October 9, 2024 in Las Vegas, Nevada

Rhea-AI Summary

Labor Smart, Inc. (OTC PINK:LTNC) held its 2nd annual Shareholder meeting in Las Vegas, Nevada, on October 9th, 2024. The company shared projections for all entities under its umbrella, including a newly acquired investment in a food and beverage company. Financial projections for this entity were disclosed:

• 2024: Total Sales $4,055,120, Gross Profit $2,082,393.60
• 2025: Total Sales $84,720,759.80, Gross Profit $43,505,979.60
• 2026: Total Sales $151,265,877.66, Gross Profit $77,678,366.00
• 2027: Total Sales $189,082,347.07, Gross Profit $97,097,957.50

Labor Smart Inc. owns 25% of this entity with an option to own 35%. The company will recognize its ownership percentage of these numbers on its financial statement.

Positive

• Labor Smart Inc. acquired a 25% stake in a food and beverage company with an option to increase to 35%
• Projected total sales for the new entity to grow from $4.05M in 2024 to $189.08M in 2027
• Projected gross profit for the new entity to increase from $2.08M in 2024 to $97.09M in 2027

Negative

• None.

JACKSON, WY / ACCESSWIRE / October 11, 2024 / Labor Smart, Inc. (OTC PINK:LTNC), a leader in brand development, manufacturing, and distribution, is pleased to announce it held its 2^nd annual Shareholder meeting in Las Vegas Nevada, on October 9^th, 2024. The link to the meeting is below:

https://youtu.be/ATipfuxuHxk

In addition, projections were shared for all companies under the Labor Smart, inc umbrella including our newly acquired investment of the food and beverage company that was previously disclosed on October 8^th, 2024. Below are the numbers for this entity only.

		2024				2025				2026				2027
Total Sales		$	4,055,120.00			$	84,720,759.80			$	151,265,877.66			$	189,082,347.07
Production Costs		$	1,972,726.40			$	41,214,780.20			$	73,587,511.66			$	91,984,389.57
Gross Profit		$	2,082,393.60			$	43,505,979.60			$	77, 678, 366.00			$	97, 097,957.50

As a point of clarification, LTNC owns 25% with option to own 35% of this entity and the numbers above reflect Gross revenue for this total entity. Labor Smart Inc. expects to recognize its ownership percentage of these numbers on its financial statement.

The company encourages all shareholders to review press releases, and watch the recap video in its entirely to stay completely informed and up to date on our progress and all material events reflecting Labor Smart, Inc. (OTC PINK: LTNC)

About Labor Smart, Inc.

Labor Smart, Inc. is a leading company specializing in brand development, manufacturing, and distribution. Trading on the OTC markets under the ticker symbol LTNC, the company operates through several subsidiaries, including Illumination Holdings, Next Gen Beverages LLC, and Elevate Health & Wellness Nutraceuticals.

Safe Harbor Statement

This press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including our financial performance and projections, revenue and earnings growth, and business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: (i) potential failure to meet projected development and related targets; (ii) changes in applicable laws or regulations that may impact our products and business; and (iii) other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with OTC Markets. These and other factors may cause our actual results to differ materially from any forward-looking statement. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.

Contact Information:

Investor Relations
ir@laborsmartinc.com

SOURCE: Labor Smart, Inc.

View the original press release on accesswire.com

FAQ

When and where did Labor Smart (LTNC) hold its 2nd annual Shareholder meeting in 2024?

Labor Smart (LTNC) held its 2nd annual Shareholder meeting on October 9, 2024, in Las Vegas, Nevada.

What are the projected total sales for Labor Smart's (LTNC) new food and beverage investment in 2025?

The projected total sales for Labor Smart's (LTNC) new food and beverage investment in 2025 are $84,720,759.80.

What percentage does Labor Smart (LTNC) own of the newly acquired food and beverage company?

Labor Smart (LTNC) owns 25% of the newly acquired food and beverage company, with an option to increase ownership to 35%.

What is the projected gross profit for Labor Smart's (LTNC) new investment in 2027?

The projected gross profit for Labor Smart's (LTNC) new food and beverage investment in 2027 is $97,097,957.50.