Latitude Industries, Inc. Shareholder Update Wednesday July 2, 7:00 am ET
MIAMI, FL--(MARKET WIRE)--Jul 2, 2008 -- Latitude Industries, Inc. (Other OTC:LTDI.PK - News), a manufacturer of high-performance, center console powerboats, would like to update current and prospective shareholders due to excessive phone calls, e-mails, and speculations in regards to the share structure. ADVERTISEMENT
Latitude Powerboats' latest share structure has remained as follows: 1,979,767,839 shares outstanding with 1,347,408,357 shares free trading and 632,359,482 shares restricted.
"In the following week we will be updating and clarifying our shareholders in regards to Honda and the possible Buy Out status," said Orlando Hernandez, CEO of Latitude Powerboats.
About Latitude Industries
Latitude Industries, Inc. was founded by the Hernandez family in December of 1995 under Stealth Marine Inc.; the company built more than 30 boats between 1995 and 1998. 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 U.S. Customs and Homeland Security to patrol the coast of the United States, the Caribbean, and the Gulf of Mexico.
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.
For more information about the company, please feel free to send an email to investors@latitudepowerboats.com.
MDOR.OB NEWS $40 Million Contract, Magnum D'Or Resources Increases its 5-Year Agreement with National Sales & Supply for Rubber Nuggets to $40,000,000 Wednesday July 2, 8:56 am ET
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Magnum D'Or Resources, Inc. (OTCBB:MDOR - News) (Magnum) announces signing and closing of a 5 year, $40,000,000.00 ($8,000,000.00 annually) contract, with National Sales & Supply (NSS, LLC) for rubber nuggets, effective immediately.
Magnum, under this new increased production agreement, will sell and supply NSS, LLC with rubber nuggets in order to help fulfill their open orders & contracts with large corporations such as Wal-Mart, Home Depot, and Lowes amongst many others. Magnum will use its patented technology, through the process of recycling scrap rubber tires, to produce this new product.
Joseph Glusic, President of Magnum, stated, "We are now accelerating our presence in the rapidly growing `Green Market' using our licensed unique worldwide patented technology. We are beginning to fulfill our mission by doing our part to eliminate global pollution generated by used tires and scrap rubber constituents in landfills."
With the commencement of shipment of our Crumb Rubber Plant, Magnum will now have a fully functional and wholly owned operating facility in North America. Financing for the turn key plant was procured through the manufacturer, while shipment and start-up costs are being borne directly by Magnum through a non-dilutive conventional financing arrangement.
Magnum, through its exclusive licensing rights and its modern technology, controls a number of patents for the re-composition of rubber, the production of EPDM powders, and EPDM compounds that could potentially revolutionize the rubber recycling industry in North America and China.
Magnum is executing its business and marketing plan to become a Global Leader in the Recycling industry, by providing: Turnkey Recycling Plants, Operational Assistance, Consulting Resources, Waste Management Solutions, and Heavy Recycling Equipment Supplies for producing high quality raw materials.
NSS, LLC is a leading manufacturer and distributor of rubber landscaping products and playground safety surfacing products to large retail suppliers and consumers.
Safe Harbor Statement under the Private Securities Litigation Reform Act Of 1995
Statements contained in this document that are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. The company is not required to update its forward-looking statements.
Updates on the progress, shipments and installation will be posted on our website: www.magnumresources.net
Contact:
Magnum D'Or Resources, Inc., Fort Lauderdale Joseph Glusic, CEO, 305-420-6563 mdor@magnumresources.net
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