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Not yet evidently. Down 33% again today.
It's old news, only here on IHUB.
All the cheerleaders and pumpers that no longer are here, and have now removed LTDI from thier favorites in thier profiles, and post back and forth to one another on thier latest stocks, would call out repair work as being significant "business relationships" with DHS. That is BS.
So no, the original rigging subcontract was not for free, but it was a LONG time ago and has ZERO bearing on the present or future performance of this stock. That revenue source died when Midnight Express stopped being a company.
To get you up to speed and murky the waters even further, the Midnight Express Boats, Inc. that held the contract with DHS went out of business. When they disappeared, so did the new boats sales contract to the DHS.
The Midnight Express Powerboats at www.midnightboats.com has nothing to do with the boats pictured on LTDI's website or here in the IBOX. Different companies with similar names. But something must have happened where they might now own or rent the molds for the 39' widebody center console, because it is on thier website.
It means simply this. NO DHS REVENUE. Period.
The DHS contract was to buy boats from Midnight Express.
There is zero business for new boats coming from DHS to LTDI.
Some people will play the BS angle of a "business relationship" because they apparently do some repair work for this boats when they get dinged up, but it is nothing more than that and certainly will never get them to thier CEO forecasted $6M in sale this year.
So seriously, no locals for drive-by or pictures?
A month ago people were tripping over themselves to stop by and say hello to that great guy Orlando. Why can't we get someone to verify if they were evicted and still even there now? A little rumor control might be nice.
In 1998, a joint venture between Midnight Express and Navigator Powerboats, a subsidiary of Latitude Industries, Inc., was founded to build the 39' and the 37' Wide Body Midnight Express. Since 1998 to the present, we have built more than 200 boats. This venture led to a government contract to build more than 40 Midnight Express 39' Center Consoles for the U.S. Customs and Homeland Security to patrol the coast of the United States, the Caribbean, and the Gulf of Mexico.
The boats pictured in the IBOX and below are the 39' Midnight Express Center Consoles mentioned above.
I'm not sure I follow. Every boat pictured is a Midnight Express. None of them are LTDI's, as everything we have seen LTDI bring to market is a completely different model based on the Powerplay molds.
However, the IBOX is very midleading to potential investors and markets them as being LTDI, when they are not. They were rigged years ago by a subsidiary of LTDI.
There is no question on this, and even LTDI themselves would attest to this.
Invested over a year ago, and was burned by the same rookie PR prior to the reverse split.
Funny, I think you have been predicting updates every week for -----well----- weeks.
Why do you say such things with no basis whatsoever?
Where are the local cheerleaders to stop by?
Is there anyone left that was so buddy-buddy with Orlando & Co. that they could swing by and take some updated pictures?
Maybe see if indeed they were evicted?
How you say? REVERSE SPLIT COMING!!!
Looks like all selling today?
Post "Hi Orlando!" if you read this forum.
Nothing more (unless you want to) but I was curious how many people actually read this forum. Bring some of the lurkers out of the woodwork and let LTDI know that they are being watched.
Come on people, let's see if it's just a few people or quite a few.
They were consistent until they started tanking sales.
They were pretty timely with thier quarterly reports and then Carolina the CEO goes out and says they will do $4M. When they started to miss that shareholder provided guidance by a country mile (81% off the target), all of sudden the reporting stops and they wait an entire year to update thier shareholders that others here will have you believe they care so much about.
Then this year they do THE SAME EXACT thing. Carolina the CEO goes out and projects $6M in sales. Since then, all is silent on the revenue update front. Patterns are the only thing people have to work with on this stock and right now it shows a repeat of 2007.
If they stay consistent, a reverse split is probably very close on the horizon and they will not update revenue results until sometime next year. That's right, 2009. This board will probably go back to the tumbleweeds it was. Or will it? Now that they are back in the public eye in a big way, maybe shareholders will keep the heat on them...time will tell.
Understood on your point about not requiring it though. They set the precedent however.
Geeeee, why would a shareholder want revenue updates?
And not the kind included in rookie, pre-school written PR's. We need actual Q108 and Q208 financial results before 2009!
Seems more suspect telling others not to worry about revenue or lack thereof, and just BUY MORE SHARES.
Want to talk about Carolina instead? Which Carolina? Which Orlando?
You are correct about credibility. They have none.
"They" being LTDI or the supposed "insiders" that post here saying that they talked to the company (BUY MORE SHARES) and that Orlando is such a nice guy (BUY MORE SHARES) and that he takes them for rides in thier boats (BUY MORE SHARES) and they feel really warm and fuzzy inside SO BUY MORE SHARES, always ending with imo.
I have as much authority to post on this board as anyone based on my DD. Also as a shareholder they burned with a reverse split. You are correct, I have not called them. So what? A shareholder does not need to call every company they own a part of. I don't believe any of the posters that say they have called/are going to call/actually spoke them ---but give a little more credibility to the ones that said they called and were basically hung up on.
They wanted to be a public company with this kind of scrutiny when they start taking people's money. Deal with it.
But I am flattered that you think they would treat me differently from any other shareholder they have bilked cash out of with thier rookie PR and hype.
Funny how nobody seems to ask about revenue.
Now that would be some news Orlando. Get the hint?
It's more like everyone is taking a beating.
Sorry to say.
No, no, no. We don't need any revenues!
There are quite a number of posters that have already been raked over the coals for this. We don't need any revenues because:
This is a "real" company.
There are "real" products.
What other penny stock can you say "that" about?
Someone who calls the factory and actually speaks to them should ask the Carolina's or Orlando's at LTDI if they could please let their shareholders know how it's going on.
How soon before the next reverse split?
Sure is too bad they aren't buying any LTDI's.
If they were, the rookie PR dept at LTDI would be working overtime to show the world how well things are going. Instead, we get shady press releases. Nice.
Put up or shut up time over at LTDI.
No buyout. No $6M sales this year. Period.
No matter what Semi-Amatuer or whatever the other "experts" say, time will show this to be true imo.
Now THAT is funny! You said that at .0018.
I projected .00001 or .00002 again soon.
Looks like you need to get your crystal ball checked sometime soon.
Facts are facts.
The fact is this company has been revealed, and continues to be revealed for what it truly is. A good product, but a lousy publicly traded stock.
Alot of posters real motives for posting has been revealed as well....
***Latitude Industries, Inc. Projects $4,000,000.00 in Sales for 2007.
Again with this? Thier PR is worthless. $600K means nothing until we see financials.
You really don't want to start using LTDI's rookie PR efforts in your defense do you? If so, why not start here? They only missed by 81% and then had the brains to let the CEO go out and project $6M this year. Want me to grab that particular rookie PR effort for you too?
http://findarticles.com/p/articles/mi_pwwi/is_200702/ai_n17219083
It makes sense to want the PPS to go up. What does not make sense is a reverse split LTDI has already done, and then the same misleading information to shareholders.
Why do you and others encourage endlessly encourage others to buy as many shares as possible, at every price, on multiple boards -not just this one?
Please explain that.
Yours are pretty transparent as well.
Nobody knows how the market has reacted because LTDI will not release financials, or at least not until next year if they repeat what they did in 2007.
Good product but no sales and no buyout imo.
Well, well, well. LTDI ADVERTISEMENT in Hot Boat.
Now what is that on page 76?
http://www.hotboat.com/movies/hb_mag_june_08.swf
What do all the cheerleaders who made such a big deal over LTDI getting FREE coverage in Hot Boat twice now say? Funny how when other posters said that it was only a matter of time before we saw thier ads in Hot Boat, they were put down in flames.
***Latitude Industries, Inc. Projects $4,000,000.00 in Sales for 2007.
You really don't want to start using LTDI's rookie PR efforts in your defense do you? If so, why not start here? They only missed by 81% and then had the brains to let the CEO go out and project $6M this year. Want me to grab that particular rookie PR effort for you too?
http://findarticles.com/p/articles/mi_pwwi/is_200702/ai_n17219083
They can't sell the 35SS they have. Why?
Ask AllStar that when you call them. How does that sit with LTDI's sole distributor when they can't move product?
Sure they will tell you Orlando is a nice guy. They need to sell some boats.
Sure they will tell you LTDI is a great boat. They need to SELL some boats!
Sure they will tell you other people said nice things about them when they saw them. THEY NEED TO SELL SOME BOATS!
Now if LTDI would quit hiding how many boats they have sold this year, things would be very different with the share price. Wonder why they aren't?
The new shares are .00001 instead of .0001.
Look at all these new potential LTDI buyers!
I too have a sizeable stake here (probably more than you, but that is totally irrelevant), but it was before LTDI did a reverse split last year.
If my posts are not all positive, so what? Maybe some truth vs. some spin will help some other potential buyers of this stock make a better informed decision.
Want me to pick up the pom-poms with the rest of the pumpers here? LTDI needs to give me a reason to do that. Facts are all we ask for. Q108 and Q208 results, not barely readable rookie PR efforts.
They RIGGED 40 boats for Midnight Express.
And again, how many YEARS ago was this?
No new boat sales to DHS then, and no new boat sales to DHS today. Nice try on the spin though.
**********Read the REAL state of the boating industry.*********
Don't believe the BS about big money spenders don't care about gas prices. LTDI is not magically insulated from this. This is what is going on out there in addition to major players like Brunswick laying off workers and ending production on boat lines.
By TAMARA LUSH | Associated Press Writer
7:48 AM EDT, July 15, 2008
FORT LAUDERDALE - In a bad economy, fun is often the first casualty.
For James Hedrick, that means it's a busy time in his line of work. He's one of those dreaded repo men.
He spends his days scanning megayachts, sailboats and fishing skiffs as he steers his dinghy through a marina west of the city's skyscrapers, looking for a piece of the American dream.
This particular piece is a gleaming white, 65-foot Hatteras with two master bedrooms, two full bathrooms and a full galley kitchen with glossy teak cabinets. The owner is $35,000 past due on his $1.5 million boat loan.
Hedrick is an agent with National Liquidators, considered by industry experts to be the world's largest marine repo company. The Fort Lauderdale-based company has tripled its business in the past three years, and now takes possession of about 200 boats a month in Florida, Ohio and California. The company's competitors also say they've seen similar increases in business.
``They're going to hang on to the car, they're going to hang on to the house. But they're going to give up on the boat,'' said Hedrick, whose employer has doubled its staff in two years to 85 repo agents so they can meet demand from the banks and lenders.
It's not just boats: Repo agents say banks and lenders have been asking them to reclaim all-terrain vehicles, motorcycles, small planes, snowmobiles, semi-trucks and, of, course, cars. Vehicle repossessions were up 10 percent in 2007 over the previous year, said Tom Webb, an analyst for Atlanta-based Manheim, the largest car auction company in the nation.
One boat dealer, whose company also does recovery for banks and lenders, says those facing boat repossession were typically involved in the housing boom either as a real estate agent, construction worker or mortgage broker.
``A lot of this is self-inflicted. It's somebody who three years ago made $50-$60,000 and didn't save a penny,'' said Ray Jones, the owner of Long Beach Yacht Sales in California. ``They thought the income would never end. But the income stopped and the toys went away.''
Rising gas prices have also made it harder for owners to make room in their budgets for boat trips. Marine diesel fuel is over $5 a gallon in some places, which means a five-hour jaunt on the water can easily cost $250 for some gas-guzzling yachts. Last year's marine diesel cost about $3.40 a gallon.
``For about a year now, it's been good for the repo guy,'' says Don Mashak, the owner of First National Repossession in Minneapolis.
Overall, the marine industry is hurting. Bankers say new boat loans are declining. MarineMax, the nation's largest boat retailer based in Clearwater, reported in April that sales fell 28 percent for its second quarter.
Because prices for used boats are falling, buyers can buy repossessed boats under 60 feet for as low as 40 percent of what the boat would cost new, said Robert Toney, National Liquidators' president. Boats larger than that are less likely to be repossessed because their wealthy owners are in a better position to weather a slowing economy, Toney said.
Sometimes, owners turn the boats in to the repo agencies when they realize they can no longer pay. But other times, they hide or vandalize the boats before they can be seized, said Megan McQuaide, the owner of Repo Yacht Sales in San Diego. She's boarded boats with oil splashed around the cabin, engines intentionally overheated and feces on the deck.
``Sometimes it's really malicious stuff,'' she said.
On a recent June afternoon, Hedrick finds no such surprises aboard the 65-foot Hatteras. He and his assistant board the yacht to take photos and catalog any personal items. There aren't many aboard, and the boat is unusually clean, save for a six-pack of Diet Coke and a children's video in one of the VCRs.
Occasionally, he finds the remnants of parties: bikinis, champagne bottles and even drugs. He calls police if he comes across anything illegal.
Most of all, he tries to avoid confrontations. He carries a sharp knife on his belt to swiftly cut dock lines and a company credit card in his wallet in case he needs to pay past-due dock fees. If the owner shows up, Hedrick will politely leave and let lawyers, lenders and the boat owner sort it out.
``I'm not 'Dog the Bounty Hunter,''' says Hedrick. ``We get paid not to have trouble. But does it bother me sometimes? You bet.''
Copyright © 2008, South Florida Sun-Sentinel
ZERO IMPACT. No LTDI news on any sales. At least as it relates to Hot Boat articles, or boat show sales, or thier lone distributor in MD. Nobody knows how badly they are doing this year yet because they are not releasing that information.
They rigged boats for Midnight Express. Not DHS.
No new boat sales EVER to DHS, and no new boat sales TODAY to DHS. Nice try though.
Wow, said nice things. Did he buy it?
Anything is a step up from a Fountain to begin with.
JOKE NEWS. YET MORE ROOKIE PR FROM LTDI.
Prediction for the week. More of nothing new.
PLEASE GIVE US ALL BREAK ALREADY. If there really was a buyout offer, all the real power broker/advisors here (you know, the ones with "Don't buy anything I post about" disclaimers on thier messages) would be finding ways to buy as many shares as they could to increase thier strategic positions. There is no volume to show this. The PPS has tanked since the announcement.
So the prediction:
After more annoying phone calls and e-mails to the factory by those pesky shareholders who feel entitled to information like Q108 and Q208 financial results, Carolina will magically publish a new rookie PR effort.
It will say they won't be taking the fake buyout offer.
They will not disclose who this mysetery company was.
They will not disclose how much the ficticous offer was for.
They will say that they are not upset about it and better off on thier own for blah, blah, blah reasons.
And then there will be alot of IHUB cheerleaders saying how great it is that they didn't take the fake buyout offer, and how nice a guy Orlando is, and what a great company they are because they actually make something you can see and photograph and ride on and blah, blah, blah.
Will the price go to .0001 and then let LTDI put out another reverse split based on all the new shares we found out about? Time will tell.......
Crystal ball still working: No buyout. No news.