Labor Smart, Inc. (Kultura Brands) Retires 740 Million Common Shares; Confirms Ongoing Cleanup and Additional Retirements Ahead
Labor Smart (OTC:LTNC) announced on October 31, 2025 that its transfer agent, Empire Stock Transfer, verified the retirement of 740,000,000 common shares, removing them from issued and outstanding counts. This action is described as the next milestone in a 5 billion share reduction plan launched earlier in 2025.
The company said some retired shares came from prior preferred conversions now completed after administrative and compliance documentation was resolved. Management confirmed ongoing preferred H conversions will temporarily increase issued common shares but that those new shares will be retired as part of the broader capital-structure reform to reduce dilution and tighten the share base.
- 740,000,000 common shares retired and removed from outstanding
- Share retirement verified by Empire Stock Transfer transaction report
- Ongoing 5 billion share reduction initiative progressing with verified steps
- Commitment to publish transfer agent confirmations for transparency
- Preferred H conversions will temporarily increase issued common shares
- Prior paperwork and transfer delays caused shareholder frustration
JACKSON, WY / ACCESS Newswire / October 31, 2025 / Labor Smart, Inc. (OTCID:LTNC), doing business as Kultura Brands, Inc., today announced that an additional 740,000,000 (seven hundred and forty million) common shares have been officially retired and removed from the company's issued and outstanding shares, as confirmed by the company's transfer agent, Empire Stock Transfer, through its verified Transaction Report.
Continued Execution of the 5 Billion Share Reduction Plan
This latest retirement represents the next milestone in the company's comprehensive 5 billion share reduction initiative announced earlier this year. Certain shares included in today's retirement originated from prior preferred share conversions, many of which were initially disclosed in August and are now formally completed following the resolution of administrative and compliance-related documentation.
"Shareholders have waited patiently for proof of what we previously said would happen," said Brad Wyatt, Chief Executive Officer. "While some of these retirements were delayed due to paperwork and transfer processes, they are now done-verified, confirmed, and backed by the official transaction report from our transfer agent. We're proud to show tangible progress, not just intent."
Cleaning Up the Past, Delivering Verified Results
In keeping with Kultura Brands' renewed policy of post-completion transparency, this update demonstrates the company's commitment to cleaning up prior announcements and delivering verified outcomes. The company acknowledges that earlier statements regarding immediate retirements created frustration among shareholders when paperwork delays extended the timeline for completion.
Wyatt continued, "We heard the feedback loud and clear. Going forward, every announcement will be based solely on finalized and documented actions. The 740 million shares retired today are fully executed and recorded, and we'll continue to publish transfer agent confirmations as proof of progress."
Path Forward: Preferred H Conversions and Additional Reductions
The company also confirmed that there are and will continue to be preferred H share conversions in this process, initially it will increase the total issued and outstanding common shares from the conversion but we will continue to retire the common shares, to facilitate the retirement of additional large blocks of common shares. These actions are part of the broader capital structure reform initiative aimed at improving transparency, reducing dilution, and aligning long-term shareholder value with operational growth.
"Our capitalization structure will continue to tighten as we complete these conversions and retirements," added Wyatt. "The process takes time and compliance coordination, but we're moving steadily toward our goal of a leaner, cleaner share base."
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
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