Labor Smart, Inc. (Kultura Brands) Retires 2.545 Billion Common Shares; Continues Progress Toward Full Preferred H Conversion and Clean Cap Table

Rhea-AI Summary

Labor Smart (OTC:LTNC) announced the verified retirement of 2,545,539,256 common shares on November 6, 2025, confirmed by Empire Stock Transfer.

This retirement brings total shares retired over the past three weeks to approximately 3.875 billion. The company reports Preferred H shares outstanding fell from 61 to 30, representing about 3.0 billion common shares still eligible for future conversion. Management says the program follows a transparency policy where retirements are announced only after transfer-agent confirmation, and the stated goal is full Preferred H conversion and a simplified capitalization table.

Positive

• 2,545,539,256 common shares retired on November 6, 2025
• ≈3.875 billion total shares retired in three weeks
• Preferred H reduced from 61 to 30 outstanding
• Retirements verified by Empire Stock Transfer under transparency policy

Negative

• About 3.0 billion common shares remain tied to 30 Preferred H convertible shares
• Preferred H class has not yet been fully eliminated

JACKSON, WY / ACCESS Newswire / November 6, 2025 / Labor Smart, Inc. (OTCID:LTNC), doing business as Kultura Brands, Inc., today announced the official retirement of 2,545,539,256 (2.545 billion) common shares of its stock, as verified by Empire Stock Transfer through the company's Transaction Report. This latest verified retirement brings the company's total shares retired over the past three weeks to approximately 3.875 billion, marking a significant milestone in Kultura Brands' ongoing share reduction and capital structure reform initiative.

Continued Execution and Accountability

When the company began its share reform process, there were 61 Preferred H shares outstanding, representing the potential conversion of approximately 6.1 billion common shares. As of today, only 30 Preferred H shares remain, representing about 3.0 billion common shares still eligible for future conversion and cancellation. "This is tangible progress that shareholders can see and verify," said Brad Wyatt, Chief Executive Officer. "In just three weeks, we've retired nearly four billion shares from our books and reduced the Preferred H class by more than half. My goal remains the same - to convert and retire all remaining Preferred H shares and deliver a clean, transparent capitalization table that's easy to understand and holds the company accountable."

Building on a Verified Reform Strategy

Kultura Brands' share reduction plan continues under its post-completion transparency policy, first adopted in October. Under this approach, all share retirements are announced only after they are fully executed and confirmed by the company's transfer agent. "We've learned from the past," Wyatt added. "Each time we communicate, it's backed by documentation - not promises. This discipline is what defines the new Kultura. As we move forward, expect more updates like this one: verified, completed, and measurable."

Next Steps: Toward a Clean Cap Table

As the company continues its conversion and cancellation process, the focus remains on fully eliminating the Preferred H class, consolidating outstanding shares, and simplifying ownership transparency for investors. "Our end goal is clear," said Wyatt. "A straightforward, verifiable capitalization table that shows real shareholder value, unclouded by legacy structures or overhang. We're getting there, step by step - and we're doing it right."

About Kultura Brands, Inc.

Kultura Brands Inc. is a Wyoming-based public company (OTCID:LTNC) focused on identifying, building, and scaling culture-driven brands. With a foundation rooted in operational discipline and services, our refreshed strategy moves us into brand acquisition, development, and community-led growth, aimed at creating long-term value for consumers and shareholders alike.

Forward-Looking Statements

This press release includes statements regarding the Company's intentions and strategic direction. Although the Company has taken steps as described, many of the matters referenced (including the timing of share retirement and the dependence on individuals to complete their part of the process) are subject to risks and uncertainties. There can be no assurance that requests will be approved in the timeline or manner described. The Company assumes no obligation to update or revise any statements in this release, except as required by law. 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:
Labor Smart, Inc. (doing business as Kultura Brands, Inc.)
Jackson, Wyoming
info@laborsmartinc.com
www.laborsmartinc.com

SOURCE: Labor Smart, Inc.

View the original press release on ACCESS Newswire

FAQ

How many common shares did Labor Smart (LTNC) retire on November 6, 2025?

Labor Smart retired 2,545,539,256 common shares on November 6, 2025, per transfer-agent verification.

How many shares has LTNC retired in total during the past three weeks?

LTNC retired approximately 3.875 billion common shares over the past three weeks.

How many Preferred H shares remain outstanding for LTNC and what do they represent?

LTNC reports 30 Preferred H remain outstanding, representing about 3.0 billion common shares eligible for conversion.

Who verified Labor Smart's November 6, 2025 share retirement for LTNC?

The retirement was verified by Empire Stock Transfer according to the company.

What is LTNC's stated next step after the November 6, 2025 retirement?

The company plans to continue converting and cancelling Preferred H shares toward a clean, verifiable capitalization table.

Will LTNC announce future retirements before or after completion?

LTNC says retirements are announced only after they are fully executed and confirmed by the transfer agent under its transparency policy.