Staffing 360 Solutions Inc (STAF)’s Fiscal Second Quarter 2015 Earnings Conference Call Transcript

Matt Briand – Chief Executive Officer

Thank you, Jeff and good morning everyone. Now that the financials have been discussed, I will be focusing on some of the highlights of the quarter and recent developments as we continue to implement our acquisition strategy.

With our first five acquisitions under our belt, we now have more than 3,500 temporary employees on assignment to deploy around the United Stated and Europe. In addition, we have over 120 internal employees, plus our senior management team. We expect to expand these numbers even further as we continue to acquire additional Staffing companies that want to join the Staffing 360 journey.

Although our growth from $1 million to over $130 million revenue which been primarily achieved through acquisition, our business units are enhancing their growth organically as well. As a first example our most recent acquisition, People Serve, has grown their sales by more than 20% in the short span of 6 months since we acquired them. Needless to say, this is a major success for our company and although we can never say for certain that this growth rate will be going forward the initial outlook certainly goes well with our strategy and vision.

Speaking of our collective vision we recently demonstrated our deep faith in Staffing 360 when Brendan and I participated in the above market conversion of $3.3 million of our initial promissory notes and equity. As the largest [inaudible] of the initial acquisition, Brendan and I converted our debt into equity at one dollar per share, the same price at which many investors joined our company. We are clearly in this for the long haul and we believe Staffing 360 Solutions represents a significant opportunity for growth as we execute our Profit to Profitability.

On that note, we recently engaged in a New York based investment bank that specializes in financing small cap companies. As part of this new relationship, we plan to raise $4 million to fund our next acquisition, which is already gone through the diligence. At this stage capital raising is key to our buy and [inaudible] strategy so we expect to follow this raise with additional financing to support our growing pipeline of acquisition candidates.