Business
Labor Smart, Inc. (Kultura Brands) Retires 2.545 Billion Common Shares; Continues Progress Toward Full Preferred H Conversion and Clean Cap Table
Labor Smart, Inc. (Kultura Brands) Retires 2.545 Billion Common Shares; Continues Progress Toward Full Preferred H Conversion and Clean Cap Table.
About this update from Labor Smart Inc
[{"type":"text","content":"\r\n\r\n \r\n \r\n Labor Smart, Inc. (Kultura Brands) Retires 2.545 Billion Common Shares; Continues Progress Toward Full Preferred H Conversion and Clean Cap Table\r\n \r\n \r\n\r\n\r\nLabor Smart, Inc. (Kultura Brands) Retires 2.545 Billion Common Shares; Continues Progress Toward Full Preferred H Conversion and Clean Cap Table\r\n\r\n\r\n\r\n\r\n\r\nJACKSON, 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.\r\n Continued Execution and Accountability\r\n 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.\"\r\n Building on a Verified Reform Strategy\r\n 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.\"\r\n Next Steps: Toward a Clean Cap Table\r\n As the company continues its conversio...