MIAMI, FL -- (MARKET WIRE) -- 05/23/08 -- Latitude Industries, Inc. (PINKSHEETS: LTDI), a manufacturer of high-performance, center console powerboats, would like to address the ongoing concerns of current and prospective shareholders.
Orlando Hernandez, C.O.O, states, "In response to a significant number of phone calls by shareholders in recent days, management of Latitude would like to comment on some of the incorrect information currently circulating in the investment community. I would like to take this opportunity to state that management has no plans to execute any stock splits in 2008. There is no foreseeable event that would prompt us to believe that such an alteration of the company's stock structure would be beneficial to our shareholders.
"Many people have reported speculation that there is a substantial short position on LTDI based on the unusual trading patterns that the market has seen recently. We would like to reaffirm that the share structure has not changed as stated in the May 16, 2008 press release and we have initiated serious measures to understand and correct this."
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