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Let the pumping begin! They stuffed Allstar AGAIN.
Allstar Marine in MD got stuffed with another boat. Forget the fact they still can't sell the previous inventory from YEARS ago, but this time they are "helping" Orlando and crooks build a "new & improved" 35. We will probably start seeing the pumpers in here soon showing off the new paint work by Grafik Worx any day now after the next reverse split. The moral of the story is 1 new boat a year is not a company. It's not a business. But the crooks behind Latitude sure will try and spin it that way. You have to ask why the company only has a single distributor in the entire world, and they are based in Maryland. Let's repeat today's lesson one more time. 1 boat a year is not a business. Someone correct me if I am wrong, but this would be the first boat they have built in 3 years? So 1 boat every 4 years is not a business, it is a shell to take investors money over and over again.
The LTDU customer database. Is that 4 people?
The rookie PR continues to try and amaze the investor. To date, how many boats have the built AND sold. Not counting the ones sitting at All Star that they can't give away. Is it 3 boats or 4 that they have sold in almost the last half decade?
How many employees are they up to now? Is it 5 or 6?
Anyone?
Anyone?
More rookie public relations! More baseless, useless guidance.
The same fluff from this 5 person company that does not even own the tooling to make a boat. Is anyone keeping track? Have there been more reverse splits on this stock than actual boats built?
Let's break down the latest rookie PR effort.
Latitude Industries Closes Deal on Five Vessels This Month and Announces Upcoming Revenues
Latitude Industries (OTC) (USOTC:LTDU)
Intraday Stock Chart
Today : Friday 16 July 2010
Latitude Industries, Inc. (PINKSHEETS: LTDU) is pleased to announce this is a record breaking month for Latitude Industries. We are excited to finalize the deal on five vessels looking to record an estimated 250,000 dollars in revenues.
So right out of the gate they are contradicting themselves. The headlines says "CLOSES" -as in past tense. Deal done. Contract signed. Purchase order in hand. Then the wording changes in the first paragraph to "to finalize" and "looking to" ----this means deals are not done.
We are excited to see a lot of our hard work is starting to pay off based on our recent contract with our Mid-Atlantic distributor to ship 1 Latitude 35ss and 3 9' custom made Latitude Tenders. Furthermore we have also signed a retail purchase order for the sale of our Demo Latitude 35ss. Combined this means Latitude Industries has orders for 5 boats by the end of the month.
Funny how they don't call out the fact that All Star is the one and only dealer that represents the old boats they built and still have not sold. Also curious as to why such strange wording around the demo boat that All Star has been sitting on for years now. Why would you publicize a dealer that can't sell your product in the first 2 years of getting it? And once again, orders by the end of the month does not mean orders in hand, which does not mean revenue.
It does mean the same pump and dump tactics.
Latitude Industries has seen an increase in inquires in potential boat sales, as the marine industry has seen a recent positive turn. This was stated in our previous press release that Thom Dammrich, president of the National Manufacturer Marine Association (NMMA), reaffirmed an increase in boat sales provides an early indicator that a recovery in new boat sales is coming.
Really? "Inquiries"? "Potential"? Does "Ford" publicize how many inquiries the dealers get? Does IBM talk about "potential" sales it will have? Does any vendor in any industry other than this front of a company use this type of guidance in thier corporate communications? Please show us 1 other example.
Finally, Thom Dammrich never said a single, solitary word about Latitude Industries. His comment was about the industry as a whole, and more to the point, regarding companies that actually make a product.
When was the last new boat actually built? Pictures please.
Milestone or Tombstone?
Little Halloween humor there folks.
More news that is not news. Wow. Now they can offer Honda outboards on boats that they are not building or selling. Simply incredible. Bet the phones are ringing off the hook.
It appears as though Rookie PR would be a compliment to this press release. They not only say nothing tangible (again), they actually quote themselves from a previous rookie PR attempt. Somebody is sniffing too much resin while riding around on scooters.
Anyone want to guess their booth number at the Ft. Lauderdale show in a couple of weeks? Remember that incredible venue they bragged about being at, and did a photo shoot for that magazine they took on-line ads out on? Oh wait, Hot Boat is out of business, and LTDU has not displayed at a major boat show in a LOOOOOOOOONG time.
As always, someone will show up with a patethic attempt at giving any reason to buy more of this. It's good comedy.
Anyone seen an annual report lately? How about a new boat? Maybe that 23 footer? Anyone? Anyone?
That is funny right there. A $90K Latitude.
No 28 foot Latitude is bringing over $90K, or $80K.
Just Carolina & Orlando & the rest of the Hernandez clan trying to take the more people into thier scam.
Looky-Looky What's On E-Bay.
Is this the update everyone was looking for?
http://cgi.ebay.com/ebaymotors/2008-LATITUDE-28-TWIN-EVIN-E-TEC-225-GORGEOUS_W0QQitemZ220407152685QQcmdZViewItemQQptZFishing_Boats?hash=item33514a402d&_trksid=p4506.c0.m245&_trkparms=72%3A317%7C65%3A12%7C39%3A1%7C240%3A1308
You too can start a boat company scam!
The boat molds are for sale on Ebay as you read this.
http://cgi.ebay.com/ebaymotors/BOAT-MOLDS-POWERPLAY-33-FT-28-FT-FIBERGLASS-CHEAP_W0QQitemZ110359494187QQihZ001QQcategoryZ26434QQssPageNameZWDVWQQrdZ1QQcmdZViewItem
They were NOT exhibiting at the Miami Boat show.
I know because I was there.
The clock is ticking for them to issue the annual BS sales rookie press release. How many millions are they going to say they will attain in sales this year, and then never, ever, not once, comment on them again? When we will see last year's annual report? April 09? May 09?
They created the pattern of deception, not the market.
Rookie PR about absolutely nothing. Stuckholder scamming.
Let's breakdown the information here that they try and make you think they are actually doing something.
As we all know, the availability of wholesale and retail financing have diminished; we are forming new joint ventures with a few lending sources not hurt by this crisis. Just as companies that depend on loans from banks have been negatively affected by the lending crisis, new boats sales are down from last year along with many other industries.
If they were actually doing something, they would name the lenders. Since there are only 4 major marine lenders left (Bank of America, Bank of the West, Suntrust and USBank) this should be something they highlight specifically. But they don't. Nothing will happen or ever be announced here IMO.
Our research indicates that used boat sales and new parts and accessories are showing a good market trend. Latitude Industries has identified a couple of possible M&A candidates in this industry. We have been reorganizing the company so that we identify the consumer's need and fulfill them at the same time.
So they are going to stop making new boats and start making new boat parts? What industry? Every company should understand thier consumer and fulfill thier needs, so should we read this as LTDU did not understand this?
To help accomplish this, Latitude Industry will begin this year with a new plan in place:
-- Hire a Public Relations Firm to increase our market share and introduce us to new markets, as well as keep shareholders abreast of corporate events.
WAHOO!!! Maybe now we get real PR that is written from someone who understand's basic English grammar. Of course, there needs to be actual corpoarate events, but let's not get bogged down in details now.
-- Restructure and educate our sales team, as well as implement a new strategy to optimize current market conditions.
So they are restructuring yet again? People, this is a 6 person company with 1 -count em- 1 distributor. Note the lack of detail.
-- Latitude Industries will keep Latitude Powerboats as its wholly own subsidiary.
And this is a change how?
-- Latitude Industries has three possible M&A that can take place before the end of Q2.
So earlier in the press release it was "a couple" and now just a few paragraphs later it is up to 3? Anyone else see a pattern of embellishment here?
-- Finalize the deal with Honda Marine.
Ahhh, the "deal" to do nothing other than give Honda as an engine choice. Truly stunning. Note again the lack of detail on what the "deal" is. Continuing the vague streak from all rookie pr's earlier.
-- R&D on an entry level line of boats.
Would this be the boat they said was on track to debut last year, or have they scrapped that and now trying to design a whole new line of boats from rented molds?
We anticipate there to be a lot of opportunity in the Alternative energy sector with the new administration, as we will keep an eye for environmentally and fuel efficient means of transportation.
Note this has absolutley nothing to do with boats.
"We should not only focus in the marine industries but we should span our horizon and seek new opportunities that are arising in this market," stated Orlando Hernandez, COO.
So now a boat company of 6 people that is not building or selling boats thinks it will branch out into what market exactly?
"...the company may have a booth..." ROOKIE PR!
Who writes this stuff? It's pathetic.
"We may have a booth, we may not."
"We might be talking to someone, who thought about, but did not make an offer, and might be somewhere in China, nothing that can be verified or followed up on, or we might not."
"We might do millions of dollars in sales, or miss it totally."
"We might tell you again we will do even more millions of dollars of sales, and not say another word."
"We might be bringing out a new model, or maybe not."
I forget how many subsidiaries they have already run for Latitude Powerboats and Latitude Industries -anyone remember?
How many other companies do they have registered out of the same address where supposodely they made boats at one time?
Scooters are now somehow a subsidiary of a boat company?
I'm going to go out on a limb and say we will not see any Latitude at the Miami boat show.
No Latitude at Miami boat show next month.
The same exact show that Carolina puts out a rookie press release after every year like clockwork, saying how great the show went and then makes up some outlandish revenue figure that they will do in sales without providing any detail on, is the one that they will be missing this year.
Can't they just bring some of the boats they made but didn't sell last year?
There is no comeback here people.
The single largest show of it's type, in thier backyard no less.
http://www.miamiboatshow.com/attendees/directory/exhibitorslist.aspx
It means nothing. They will still steal/lie/dilute.
They are not even creative in thier rookie PR efforts any more. Look at this one from May 2007 after thier last reverse split. See any similarities? Please. How do you re-org a 6 person company?
LTDI Breaking News: Latitude Industries Announces Corporate Reorganization Is Effective
Market Wire, May, 2007
Latitude Industries Inc. (PINKSHEETS: LTDI), a manufacturer of high-quality offshore sport fishing and high performance center console boats, announces today its company's reorganization is effective.
The company's issued and outstanding is 8,651,500 million shares. As part of the reorganization plan the company has been issued a new stock symbol that better fits the organization's image. Our new stock symbol is (PINKSHEETS: LTDI) and our web site is www.latitudepowerboats.com
Carolina Hernandez, President and CEO of Latitude Industries, said, "I am very excited today with the company's reorganization plan and new stock symbol (PINKSHEETS: LTDI). The company has positioned itself in branding Latitude Powerboats in this industry with the release of the new 28 SS and 35 SS."
About Latitude Industries
Latitude Industries is a manufacturer of high-quality, offshore sport fishing boats. The company's boats fuse innovative design with advanced light-weight composite materials that resist rot and decay and retain buoyancy under all conditions. Hand-laid fiberglass hulls offer the best of old world craftsmanship and new world technology. In addition, the company enhances the safety of its boats by using the latest lamination technology, creating a sturdy and durable hull that can handle the toughest sea conditions. Latitude Industries employs craftsmen with decades of industry experience at its headquarters in South Florida, the sport fishing capital of the world. For more information about Latitude Industries Inc. visit www.latitudepowerboats.com .
Forward-Looking Statements
This release contains forward-looking statements, including, without limitation, statements concerning our business and possible or assumed future results of operations. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons including: our ability to continue as a going concern, adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs, customer acceptance of our products or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and SEC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.
Contact: Carolina Hernandez President and CEO Ph: 305-758-BOAT (2628)
No idea why you're posts are being deleted.
Check with the admins if you want. I am just another LTDU stockholder and poster like others here. My agenda is pretty clear, until there is something to cheer about here, the voice of realism will continue. Aside from the numerous shells and other businesses they have registered with the state of Florida, I am really only concerned about the boat building revenues/sales/profits. But for some reason, LTDU only likes to put out rookie PR that refers or alleges to $$$. Maybe this April when they put out 2008 annual numbers we will see. But prior to that, if they stay in pattern, we will see more rah-rah rookie pr around boat show time in Jan/Feb saying how well they are doing and project again multi-millions of dollars in sales which they have no way to achieve in hopes of suckering in more investors to drive the price up, and then go silent again for months prior to the next reverse split. Again, all IMO, but so far my predictions are 100% and the pattern is there people.
And please, once and for all forget the reviews in Hot Boat. They are not on the stands, nobody is reading them, Hot Boat has moved on to review many more boats since then. There is no shortage of manufacterers to have them send a boat over. It's what keeps readers buying issues. How much does anyone want to bet that Hot Boat or Powerboat or Boating Magazine will never do another LTDU review again? Ever.
If the shoe fits....
So what is worse? Endless optimism from cheerleaders who don't have a clue about the boating industry whatsovever, or some realistic (and on IHUB that is usally mistaken for bashing) viewpoint on this scam? You choose because it's your money on the line, but I wish I had heard some of this prior to buying this scam prior to the FIRST reverse split.
Spin, lies, fluff, rookie PR, blind cheerleaders. You name it and LTDN ---I mean--- LTDI ----I mean--- LTDU has it all.
LTDU and comedy shows. Hard to tell any difference.
Just for fun, what else have you heard? If this in fact true, than that would make 2 brand new boats made this year? Are they sold? I wonder how far off the CEO projected $6M in sales they will be.
Funny how the "I heard that too" crew never has any news around revenue figures or ***anything*** tangible to a stockholder.
They are not selling/building boats. End of story.
The Black 28 (shown in the IBOX) that the customer is allowing them to use as a demo boat is owned from Texas. They have not pulled any new boats from the mold aside from the Red one still waiting for an owner all year. So to say they are bringing a customers boat back to Texas is not the same as saying the are delivering a new one.
Nothing but spin & lies from LTDU. Before this reverse it was LTDI. Before the reverse before that is was LTDN. At this rate, they still have quite a few letters in the alphabet to run through for thier future reverse splits.
Spoken as an owner of LTDU shares that have been reverse split twice now.
Last symbol change/reverse split had rookie PR too.
Wonder what they will say this time? "New symbol reflects new direction in the company. LTDU will take you and your money underwater."
This has to be the end of the line for these guys. There are too many people (as a result of the increased exposure over the last 9 months) that will hunt them down at boat shows now, and internet sites to get thier pound of flesh.
The boating industry is in a horrible state, but they are at the bottom. At least other small, similar builders like Pantera or Concept or Deep Impact are actually making and selling boats. These guys aren't doing either of those. They are just scamming stockholders out of thier money.
Where are all the people that "trusted" them and went for great boat rides and cited chapter and verse from thier rookie PR efforts that they would never, never, ever do another reverse split now?
Guess who is NOT exhibiting at the Lauderdale show?
http://www.showmanagement.com/fort_lauderdale_international_boat_show/event/manufacturers/
Looks like the old saying is true. You can't show new boats if you're not building them.
Guess who is still trying sell their LTDI's?
http://www.speedwake.com/upload/showthread.php?s=&threadid=58387
The lone dealer they stuffed with product. Poor guys are still trying to sell what they had last year, and might be on the hook for more boats still. I would not be surprised if that magic $600K of orders LTDI talked about earlier this year was orders from them. That Red 28 has not changed since some of the "insiders" here posted it on thier "trips" to the factory earlier this year. Wonder what all these worker bees in the factory are too busy doing in order to answer the phone. Checkers? Solitare? Dice?
Interesting? Not really.
Pathetic. Absolutely.
Or not. It's just having fun right?
Fun with the shareholders.
Fun with the shareholders money.
Fun with the shareholders trying to figure out which company they post information under.
Nevermind, you go on having fun.
GL
Latitude Powerboats annual report. Be clearer next time.
Like I said, it's hard to keep up with all the businesses the Hernandez family is running from the same address. I was mistakenly looking under Latitude Industries.
An annual report filed a month ago. Really?
First, thanks for poiting out the obvious about Champion Scooters. It was my point exactly. These scam artists are running multiple business and looking out for themselves, not the shareholders. Are there any other businesses that the Hernandez's are running out of thier shop that you know about as well you would like to share with the board?
Show us the annual report. Please. I don't see it.
Carolina's been busy, that's for sure. Champion Scooters???
http://www.sunbiz.org
Ever wonder how many businesses that they are currently running or have run from the address they are at right now (did anyone ever confirm they are still there or being evicted or what?) from thier current address? Hit the website above and type in Carolina's name to see just a few of the following:
Midnight Runner Powerboats
Cubavich Yachts
Power 2 Play Powerboats
Midnight Venture Powerboats
*Navigator International Yacht Sales & Brokerage
Champion Scooters Corp.
Latitude Industries
*Avance Motor Sports
Navigator Power Boat Brokerage
Latitude Powerboats
*Avance has recent activity as of August 2008. So while the PPS is spiraling down the toilet, they are busy setting up new companies and renewing old ones. Wonder what thier next move will be after LTDI? Any guesses?
Call them yourself then. They will tell you it's true.
Now THAT is funny! "If" they reverse split.
It's coming down the tracks again folks....
Who cares about the NEXT 3 boat shows?
How about a little info on the LAST 3 boat shows and resulting sales from them? Oh wait, then that might give some kind of light how they are doing toward thier CEO guidance of $6M in sales this year. Would not want to crush that illusion until next Spring, now would we?
I really would not want to be working a LTDI booth at any of these shows with the horrible exposure they have. It is going to lend itself to some very uncomfortable stockholder conversations I am betting.
No buyout.
Will not be selling Honda outboards. Nobody cares anyway about this. Merc/Evinrude are the defacto standard.
Reverse split coming sooner rather than later.
All IMHO.
Exactly. Next stop is .0000000001 if Orlando/Carolina have anything to do with it.
It's not thier fault. It's the shareholders fault.
Just brilliant.
Imagine the people at the next boat show..... they see. May not be the best PR to have angry stock holders in thier booth....that is.... if they go to another boat show.
There is no Honda "deal". Period. End of story.
Why do people continue to try and make this sound more substantial than it is. At most, it is Honda outboards on a very few of the very few boats they might make. What is the count from last year? 3 boats? 5 boats?
This is nothing more than a check-box on an order sheet we can all only hope that someone uses when they actually buy a boat from LTDI, but that does not seem to be happening.
Enough with the Honda BS already. Oh, and it does not take months to approve/decline a credit application. My predication is that we will never hear a peep from LTDI about this again, because Honda declined them.
Oh, and "the secretary said...." stuff is just damn funny. Forgot to thank whomever posted that. Suuuuuuure she said that.
Real <BAD> company. Real <PATHETIC> revenues.
This is what you meant to say, yes?
The endless optimism and pumping by some people here just kills me.
Doubt it.
Thanks for another informed poster here.
I don't think I've said anything different than you, but appreciate the clarifications nonetheless.
Calling a 35 that is a 33 is really not controversial. Call a Fountain 42 (or any of them) is laughable.
Anyway, I've seen you post about the performance of this boat being in question due to making a CC out of an inboard mold. How do you mean? I've seen Powerplay center consoles in I/O versions and twin and triple outboards. Did LTDI do something different to the mold the leased from Tom Mason after he bought them at auction?
No rhetoric here. All rhetoric at LTDI.
So are you going to fix the IBOX?
Every rookie PR effort LTDI does makes mention of the boats they built for DHS via thier subsidiary. I am pointing out to readers that that contract is dead and was only to DHS via Midnnight Express Boats.
What Midnight Express Power Boats is doing or does with thier claims, I don't care. They aren't the stock people are looking here for information.
If someone looks at the IBOX or reads old posts, they are easily misled that LTDI is doing business with DHS to sell them boats. They aren't.
I don't see Midnight Express Power Boats www.midnightboats.com making any claims of sales to DHS.
Maybe they own or rent the mold for the old 39' and can build them.
LTDI is the only one making funny claims.
LTDI spins it as past work examples. What Midnight Express Powerboats is doing with those pics or molds I have no idea. All their boats are stepped and entirely new technology in comparison to these old rigs.
Different people. Different molds. Whole other company.
No conspiracy theory here.