American Marconi Wireless News - Labor Smart, Inc. (doing business as Kultura Brands, Inc.) Retires 500 million Common Shares; Confirms 5 billion Share Retirement Initiative Underway

JACKSON, WY / ACCESS Newswire / October 24, 2025 / Labor Smart, Inc. (OTCID:LTNC), doing business as Kultura Brands, Inc., today announced that 500,000,000 (five hundred million) common shares of its stock have been officially retired and removed from the company's issued and outstanding shares, as confirmed by Empire Stock Transfer on October 23, 2025.

This completed retirement marks the first phase of the company's broader 5 billion share reduction plan, which is expected to be executed over the next 30 to 60 days.

A Shift Toward Verified, Post-Completion Reporting

In response to shareholder feedback and concerns regarding prior share retirement announcements made before completion, the company has adopted a new transparency policy. Under this policy, Kultura Brands, will only announce share retirements after the process has been fully executed and verified by the company's transfer agent with the transaction journal. "Our focus is on transparency backed by verification," said Brad Wyatt, Chief Executive Officer. "We understand the frustration surrounding premature announcements in the past. Moving forward, our communications will reflect only completed, documented actions when it comes to share retirement. The 500 million share retirement is finished, verified, and represents the first 10% of our 5 billion share reduction goal." This initiative will include both common and preferred shares.

Commitment to Completion and Clarity

The remaining 4.5 billion shares targeted for retirement are tied to specific agreements and compliance steps that must be finalized before cancellation. These include the completion of various shareholder settlements, asset transfer agreements, conversions, and other obligations associated with the return of shares. The 4.5B shares remaining comprise of both Preferred and Common shares to be retired. With full transparency, we are still working through cashflow management with the large projects at hand that are yet to demonstrate full profitability potential and requires continued private placements and cleanup of past investments for equity (share issuance), all being part of the larger share reform plan. We will see this stabilize and the capitalization table consolidate through the efforts of the ongoing share retirements and the operational revenue kicking in with increased sales volume and profitability.

Upon completion of each phase, the company will release via "X" (@KulturaBrands) and other social media venues the corresponding transaction journal directly from Empire Stock Transfer as confirmation of share retirement.

"We're focused on accountability through documentation," added Wyatt. "We are committed to responsibly reducing our outstanding share count and reporting results only after the retirement is complete and confirmed."

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.)
Investor Relations
Jackson, Wyoming
[email protected]
www.laborsmartinc.com

SOURCE: Labor Smart, Inc.

View the original press release on ACCESS Newswire

Ch.Kahalev--AMWN