Latitude 360 Inc. (fka LATX)

[Stonesrock]

They will not survive the year. They still have tons of debt, no cash, and their only operation in Pittsburgh can't even cover their own operating costs, let alone generate additional cash to cover Corporate costs and service the debt that they still carry. Add to that more an more lawsuits to come from unpaid vendors and employees they stiffed when they closed Indy and Jax. Bankruptcy is only option.

There is something very very fishy about all of this, especially Brent Brown. Can't quite figure how he affords a big beautiful house in San Marco and another one in NY on a reported salary of $356k. He sure didn't make any money on his Lat360 stock options that he still has because they are worthless. I suspect we will see more lawsuits like the one in the article I sent the other day where he conned investors out of money. Not that anybody will ever get money back from this crook.