Altitude International Inc (ALTD)

[rubicon_jones]

Quick DD for new eyes-

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 publicly 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:
1) Tulane University- 8/8/2017 https://www.otcmarkets.com/filing/html?id=12922436&guid=s_GKUFGGBz6e_yh
2) Miami Dolphins-3/23/2019 https://www.otcmarkets.com/filing/html?id=13331759&guid=s_GKUFGGBz6e_yh

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.

The benefits of ALTD is as follows:

1) Superior Technology- Sporting Edge in Europe has been selling these Altitude chambers throughout Europe and supported by the training protocols of Professor Greg Whyte.

The Nobel Prize for medicine in 2019 shows the power of hypoxia training-
https://www.nobelprize.org/prizes/medicine/2019/press-release/

a. 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

b. 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

c. 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

2) New management- On January 6, 2021, Mr. Gregory Breunich replaced Robert Kanuth as CEO and Chairman of the Board of ALTD.
https://www.otcmarkets.com/filing/html?id=14575261&guid=hzGKUFQ6PxvP_yh

Greg 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.

3) Very little debt and excellent share structure-

a) Please review the most recent 10Q financials to show that there is only $219,902 of debt and mostly to the management of ALTD

https://www.otcmarkets.com/filing/html?id=14495362&guid=hzGKUFQ6PxvP_yh

b) 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.

From OTC Markets- https://www.otcmarkets.com/stock/ALTD/security
Share Structure
Market Cap

$8,230,042 01/15/2021
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.

Plus my calculation show MM's short about 2 million shares with no one selling.