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Kultura Brands Exceeds Original 5.0 Billion Share Retirement Goal, Significantly Reduces Preferred H Overhang
Kultura Brands Exceeds Original 5.0 Billion Share Retirement Goal, Significantly Reduces Preferred H Overhang.
About this update from Labor Smart Inc
[{"type":"text","content":"\r\n\r\n \r\n \r\n Kultura Brands Exceeds Original 5.0 Billion Share Retirement Goal, Significantly Reduces Preferred H Overhang\r\n \r\n \r\n\r\n\r\nKultura Brands Exceeds Original 5.0 Billion Share Retirement Goal, Significantly Reduces Preferred H Overhang\r\n\r\n\r\n\r\n\r\n\r\nJACKSON, WYOMING / ACCESS Newswire / December 23, 2025 / Kultura Brands, Inc., formerly Labor Smart, Inc. (OTCID:LTNC) (the \"Company\"), announced today that it has successfully exceeded its previously stated goal of retiring 5.0 billion common shares, while substantially reducing its Preferred H share overhang. These actions meaningfully strengthen the Company's capitalization and support its strategic growth objectives heading into 2026. As reported at the beginning of this initiative on October 24, 2025, we had 22.04 billion common shares outstanding and 61 shares of Preferred H stock, each convertible into 100 million common shares, for a total of 6.1 billion shares on an as-converted basis.\r\n Over the past two days, the Company completed a series of transactions that included the retirement of 1.55 billion common shares and the conversion of 11 additional Preferred H shares, equivalent to 1.1 billion common shares upon conversion. Since October 24, 2025, the Company has completed multiple share retirements and Preferred H conversions, reducing the number of Preferred H shares from 61 to 10. This represents the elimination of the equivalent of 51 Preferred H shares, or approximately 5.1 billion common shares, from potential future conversion. In addition, the Company has retired a total of 5.335 billion common shares to date, exceeding its previously disclosed target of retiring 5.0 billion shares.\r\n Brad Wyatt, Chief Executive Officer of Kultura Brands, commented, \"Reducing both outstanding common shares and the Preferred H overhang has been a priority, and we are pleased to have exceeded our previously stated retirement target. These actions reflect disciplined capital management while continuing to meet the Company's operational obligations through strategic share issuance to clean up the past obligations and fund future operations with capital raises.\"\r\n Wyatt further noted, \"We believe our execution this year has meaningfully strengthened the Company, and we are entering 2026 with clarity, discipline, and momentum.\" The Company exp...