PORT ST. LUCIE, Fla., Jan. 8, 2021 /PRNewswire/ -- Altitude International Holdings, Inc. (OTCQB: "ALTD") announced Greg Breunich will be the new Chairman, CEO and CFO of the leading supplier of custom-built simulated altitude chambers enabling athletes to achieve highest levels of performance in training.
ALTD's prior Chairman, CEO and CFO, Bob Kanuth, will continue to be an integral part of ALTD's executive management team and will continue serving as a member of its Board of Directors.
"I greatly appreciate the opportunity and responsibility that Bob and the ALTD Board of sports luminaries are entrusting me with," said Breunich, an innovator at the highest levels of athletic performance and training. "They have created a fantastic foundation to build on, and I will do everything I can to turn our vast potential into strong results."
Bob Kanuth added, "Greg Breunich is not only a visionary but also a world-class operator and leader. We welcome Greg with enormous respect and the highest level of confidence in our future."
Breunich began his career in 1978 working with Hall of Fame tennis legend Nick Bollettieri, who trained developed and coached superstar tennis champions. In 1987, the late Mark McCormack, the pioneer of the modern-day sports marketing industry and founder of IMG's Group of Companies, purchased 100% of Bollettieri's tennis academy operations. Not long after, Breunich expanded the newly purchased academy operations into multiple sports, academic schools, high-performance training, as well as real estate development and several other related businesses. IMG Academies became known as the gold standard for training, educating, and building highly marketable superstar champion athletes along the way.
Breunich will be exploring professional sport, college, military, and high school market opportunities for ALTD, utilizing his existing businesses and his relational capital. He's considering ALTD's simulated altitude chambers for use at his current academies, both for advanced active training and preventive injury protocols. Other possible opportunities under consideration by Breunich will be the development of an "Altitude Performance" branded recurring revenue model blending ALTD chambers with sports performance, sports rehab, chiropractic modalities, and their related billable services.
Breunich from 1978-2009 created academy programs, employed and organized the teams, sourced the funding, and assembled the partnerships, while expanding the academy property from 10 acres to 500 acres. During this period, Breunich created IMG Academies' "International Performance Institute" which hosted and implemented NFL Pre- Combine position-specific training camps where top NFL prospects prepped for the Combine before the Draft.
In 1995, he established Bollettieri Sports Medicine, a multi-discipline sports rehab operation serving professional athletes and their recovery needs.
Breunich left IMG in 2009 and, for the last ten years, has been developing his next generation of Sports Academies Club Med Academies located in Port St. Lucie and the North Miami Beach Academy, North Miami Beach Florida. His combined companies accounted for several million dollars in revenues in 2019.
ABOUT ALTITUDE INTERNATIONAL HOLDINGS
ALTD provides custom-built simulated altitude chambers and position-specific protocols to its clients, which include an NFL franchise, Tulane University, and a leading high- performance treadmill manufacturer. ALTD's team of acclaimed sports scientists represent some of the world's most accomplished in the formulation and execution of cutting-edge training techniques. ALTD chambers have contributed to documented performance improvements for its clients, including the shattering of a world cycling record at Woodway. For more information about ALTD, please visit altdint.com.
SAFE HARBOR STATEMENT
This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. The economic, competitive, governmental, technological and other factors identified in the Company's previous filings with the Securities and Exchange Commission may cause actual results or events to differ materially from those described in the forward-looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information future events or otherwise.
Media contact: Dilara Tuncer 941-549-3571; firstname.lastname@example.org.
SOURCE Altitude International Holdings, Inc.
ALTD DD WITH LINKS Overview- ALTD received a license agreement from Sporting Edge Technologies on June 27, 2017 (for the US and South America) and merged this asset in a share agreement with Titan Computer Services- a publically traded company and changed its symbol to ALTD. Since that time the management have attempted to sell directly to professional teams and college athletics. They have made two significant sales since they began operations:
These installations have been made with great success at the organizational levels but not in additional sales. The Company was funded by management through loans by officers which were later converted to stock showing the belief in the technology but continued losses on the Profit and Loss Statements. The stock closed on January 15, 2012 at $0.16 and has reached it 52-week high of $0.18 after the announcement that Greg Breunich was taking over as CEO. (https://www.nasdaq.com/press-release/greg-breunich-named-ceo-of-altitude-international-holdings-a-leader-in-training) Altitude announced at January 19, 2021 that it signed a Letter of Intent to acquire Breunich Holdings, Inc.
- Tulane University- 8/8/2017 https://www.otcmarkets.com/filing/html?id=12922436&guid=s_GKUFGGBz6e_yh
Miami Dolphins-3/23/2019 https://www.otcmarkets.com/filing/html?id=13331759&guid=s_GKUFGGBz6e_yh
The stock opened at $0.162 and closed at $0.295. There was also an 8-k filed that included the LOI.
(https://www.otcmarkets.com/filing/conv_pdf?id=14623932&guid=FxBKUanF-sBz93h) This LOI will add the following five (5) companies to ALTD:
These companies are very synergistic and relate to Altitude training as they are sports academies. Here are the websites:
- ITA-USA Enterprises, LLC dba- Club Med Academies- This is the Tennis and Golf Academies as well as the fully accredited school.
CMA Soccer- Operated at Club Med
North Miami Beach Academy (Tennis Academy run at Park in North Miami Beach)
Trident Water Company, LLC
Six Log Cleaning & Sanitizing, LLC.
The stock reached a high of $0.599 that day. The benefits of ALTD is as follows:
- Club Med Academies https://clubmedacademies.com/
Trident Water- https://tridentwatercompany.com/ Trident recently delivered its first Department of Defense Contract- https://www.prnewswire.com/news-releases/trident-water-fulfills-first-order-with-us-department-of-defense-301216561.html
The Nobel Prize for medicine in 2019 shows the power of hypoxia training - https://www.nobelprize.org/prizes/medicine/2019/press-release/ While Prof. Whyte was part of the management team of Altitude, he was severely underutilized during his initial stint with ALTD which resulted in him resigning from the Board of Directors in June 2020. https://www.otcmarkets.com/filing/html?id=14283433&guid=hzGKUFQ6PxvP_yh
- Superior Technology- Sporting Edge in Europe has been selling these Altitude chambers throughout Europe and supported by the training protocols of Professor Greg Whyte.
New management- On January 6, 2021, Mr. Gregory Breunich replaced Robert Kanuth as CEO and Chairman of the Board of ALTD.
- The founder and patent holder of the Altitude Chamber and owner of Sporting Edge, Mr. Dave Vincent also resigned from the Board of Directors on August 20, 2019 – https://www.otcmarkets.com/filing/html?id=13608358&guid=s_GKUFGGBz6e_yh
Since Greg Breunich was named on the Board of Directors, Prof Whyte and Dave Vincent have rejoined the Board of Directors
https://www.otcmarkets.com/filing/html?id=14575261&guid=hzGKUFQ6PxvP_yh Mr. Breunich’s brings a wealth of experience in the training of athletes through his leadership at IMG Academies, CMA Academies, and the Performance Institute.In his press release, Mr. Breunich talked about a reoccurring revenue model for Altitude Chambers.Obviously, his appointment brought back two key figures in Altitude Training in Mr. Vincent and Prof Whyte.
Please review the most recent 10Q financials to show that there is only $219,902 of debt and mostly to the management of ALTD. NO CONVERTIBLE DEBT!!!
- Very little debt and excellent share structure-
Share Structure- From OTC Markets-https://www.otcmarkets.com/stock/ALTD/security
$13,888,196 01/29/2021 Authorized Shares 70,000,000 01/08/2021 (changed to 600,000,000 with 14C filed 12/21/2020) https://www.otcmarkets.com/filing/html?id=14574081&guid=hzGKUFQ6PxvP_yh Outstanding Shares 51,437,764 01/08/2021 Restricted 41,381,105 01/08/2021 Unrestricted 10,056,659 01/08/2021 Float 5,556,659 05/14/2020 Conclusion- After three years of mismanagement in sales but a management team willing to invest in the technology, it looks like a perfect time for a true operator to come in and seamlessly integrate this technology with his existing businesses and relational capital developed over the past 40 years in the performance and athletic industries. The shareholder structure and debt are attractive for an emerging growth technology to implement its business model with a basically debt-free company. The LOI shows the vertical integration of all of Mr. Breunich’s companies that will all benefit from each other. The potential for rehab/wellness centers as well as implementing Altitude Chambers for the military looks like other areas the Company can grow.
- Stock Structure- The float is very small (OTC markets shows only 5,556,659 shares as of 5/14/2020 but unrestricted shares as 10,056,659 as of 1/08/2021. Most of the shares are in the hands of insiders and management which shows a belief in the technology. Over 80% of the outstanding shares are restricted and in the hands of insiders. These shares are under 144 Restriction and will give the company time to institute its growth strategy.