On Mar. 20, Latteno Food Corp’s (OTCPPINK: LATF) enjoyed robust stock volume with 159,036,320 shares changing hands.
The strong volume comes just two days after the Santa Ana-based medical-marijuana company released its fourth-quarter operating results showing a $574,194 Q4 net profit.
Summary of Latest Financials
According to the release, Latteno’s revenue for Q4 totaled $4,097,877, bringing 2013 Revenue to $15,100,739; and pre-tax Operating Profits soared to $409,909 and $983,103 for Q4 and 2013 respectively. Full 2013 Financials Statements, together with OTC Disclosure and Legal Opinion will be filed with OTC Markets as required, according to the company.
Q2 had reported a 4,600% increase in prior year's revenues and 1,500% increase in prior year's net profit; and Q3 had reported 3,700% increase in prior year's revenues and $573,194 in net profit versus a net loss of $54,678 for prior year 2012, according to the company.
Latteno Food is another penny-stock company chasing the marijuana business that has seen its stock volume and share price cool down lately.
The company experienced extremely high volume in mid-February that was most likely generated by the news that the acquisition company was picking up and moving its headquarters from Santa Anna, Calif. to Colorado Springs, Colo. to cash in on the medical marijuana gold rush.
According to Feb. 12 release, the strategic move to Colorado will allow Latteno to capture a fast growing market through partnership and acquisitions. Latteno said it has contemplated the possibility of divesting current assets to concentrate solely on capturing and growing the medial marijuana business.
Latteno Food said at the time it was also prepared to establish a presence in Washington in anticipation of next wave in recreational use legalization.
Meanwhile the Latteno Food said it has forged partnerships with dispensaries and clinics in both Arizona and Nevada. Joint products development is underway as the company prepares to send representatives to field offices for further negotiations.
Find out what could be the best investor’s move when it comes to LATF by getting the complete report here, or by cutting and pasting the following link in your Web browser:
The uptick in stock volume could be tied to a recent announcement by the Huntington Beach, Calif.-based company stating that it was in the middle of talks to acquire an established, automated target tracking company specializing in the stage, lighting, event and exhibition industries.
Innovative said that it’s reviewing the unnamed company with intentions to sign a LOI for their systems which can be used for tracking targets or performers utilizing robotic lighting and video projectors.
“This opportunity is a huge leap forward for us into the exciting field of stage, TV and exhibitions. The opportunities for these products are huge and could very well revolutionize the entertainment production industry,” Innovative’s CEO Doug Clark said, in a written statement
So far, there has been no update on the potential acquisition.
Find out what could be the best investor’s move when it comes to IPRU by getting the complete report here, or by cutting and pasting the following link in your Web browser:
Find out what could be the best investor’s move when it comes to ESPI by getting the complete report here, or by cutting and pasting the following link in your Web browser:
Since its formation the penny-stock company like some many others has not yet realized any revenues from its planned operations. In fact, according to its last financial filing on Jun. 30, 2013, the company had an operating loss of $354,000.
The company has not issued any press releases, is not in the news and currently does not have a Web site listed.
Find out what could be the best investor’s move when it comes to JRRD by getting the complete report here, or by cutting and pasting the following link in your Web browser:
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