SOURCE: Latitude Industries, Inc.

October 05, 2010 08:30 ET

Latitude Industries Takes Action to Reduce Number of Authorized Common Shares by 98% to 200 Million

MIAMI, FL--(Marketwire - October 5, 2010) -  Latitude Industries, Inc. (PINKSHEETS: LTDU), a holding company that exists to bring together a conglomerate of companies dedicated to the pursuit of fun and adventure in the outdoor world, announces today that is taking action to reduce the amount of Authorized common shares by 4.8 Billion shares.

The reduction will lower Latitude Industries, Inc.'s authorized common shares from 5 billion to 200 million and further restrict any dilution and build value for our current and future shareholders.

"This significant reduction is an expression of the progress the Company is making to ensure commitment to shareholders and gain their trust through transparency and it will serve to further enhance our overall earnings per share and make our stock more attractive to own for both current as well as prospective investors," stated Carolina Hernandez, CEO of Latitude Industries, Inc.

About Latitude Industries
Latitude Industries exist to bring together a conglomerate of companies dedicated to the pursuit of fun and adventure in the outdoor world by providing the best supplier of power sports and boating-related products with outstanding service and value to every customer. Our goal is to treat all of our customers even better than they expect to be treated so that they regard us as the best in our industry. It is always our priority to achieve superior financial returns for the benefit of our associates, customers and shareholders.

Certain statements in this release and the attached corporate profile that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors.

Contact Information

  • Contact:
    Latitude Industries, Inc.
    Carolina Hernandez
    President and CEO
    Ph: 305-758-BOAT (2628)