SANTA ANA, CA--(Marketwired - Feb 20, 2014) - Latteno Food Corp. (OTC Pink: LATF) is pleased to announce that preliminary Fourth Quarter financials for 2013 shows record numbers for LATF shareholders.
Preliminary Fourth Quarter reports 3,100% increase in prior year's revenues and over $413,000 in net income versus a net income of only $7,000 for prior year 2012. Year-end financials are anticipated to be filed with OTC within 30 days.
The bulk of net sales and net profit came from the high-demand shipping of fresh seafood products from our wholly-owned subsidiary Mekonza Corp. to both domestic and international clientele. Both MMJ research co-ops Green-Cannabis & Valley Organics booked small but encouraging revenues.
Green-Cannabis is being terminated due to lack of support and limited products offering. Latteno has consolidated Green-Cannabis' products and services to Valley Organics to focus on existing sales and support in California. In anticipating of an early April relocation to Colorado, Latteno has already applied for dispensary licenses there along with presenting Valley Organics' products for market testing and distributing.
CEO Thu Le comments, "Preliminary sales figures for our December 2013 quarter are estimated to be up an astonishing 3,100% year over year! We're confident that Mekonza will continue to contribute at this pace to our bottom line in terms of net sales and income. We're anticipating our move to Colorado will lift Valley Organics revenues and additional income from our upcoming dispensaries there."
About Latteno Food Corp. (www.Latteno.com)
Latteno Food Corp. is an investment portfolio company that acquires food products, medical marijuana edibles and related products/services to enhance their growth and development. The company builds revenues and asset value through a model of continuous growth, income from or sale of its portfolio holdings, and product licensing or distribution agreements.
About Valley Organics Inc. (www.ValleyOrganics.org)
Southern California-owned and licensed medical marijuana co-op and transporting. The specific purpose of this corporation is to collectively facilitate medical marijuana cultivation and transactions by and between qualified patient members of this corporation and/or primary caregiver members who have the oral or written approval or recommendation of a licensed physician, as permitted and authorized by the Compassionate Use Act of 1996 (Health and Safety Code section 11362.5) and the Medical Marijuana Program Act (Health and Safety Code sections 11362.7 - 11362.83).
About Mekonza Corp. (www.Mekonza-corp.com)
Headquartered in Southern California since 2006, Global Trading Group (GTG) started out as a luxury/exotic car exporter and eventually branched out into seafood importing which came about Mekonza Seafood. The variety of seafood products we offer has allowed us to be an innovator in product development. The diversity of our products allows us to be the next force-to-be-reckon-with in the seafood industry. Mekonza has grown from a small one-man operation to one of the West Coast's most innovative and well-equipped seafood importing and processing companies. With outstanding customer service as our secret sauce and key ingredient, we're on our way to be the industry's leader committed to achieve the highest possible standards in quality, service to our clients, suppliers and investors.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the company and its management team. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control. Some of these factors include the ability of the company to raise sufficient capital, attract qualified management, attract new customers and effectively compete against similar companies.