SANTA ANA, CA--(Marketwired - Mar 18, 2014) - Latteno Food Corp. (OTC Pink: LATF) (PINKSHEETS: LATF) is pleased to announce that Q4 Operating Results have surpassed expectations fuelled by wholly-owned subsidiary Mekonza's continued shipment growth of its fresh seafood products initiative and from early breakeven operations of MMJ research co-ops Green-Cannabis & Valley Organics.
Revenue for Q4 totaled $4,097,877, bringing 2013 Revenue to $15,100,739; and pre-tax Operating Profits soared to $409,909 and $983,103 for Q4 and 2013 respectively. Full 2013 Financials Statements, together with OTC Disclosure and Legal Opinion will be filed with OTCMarkets as required.
CEO Thu Le commented, "Revenue and Operating Profit for Q4 continue grew at a more than anticipated rate, continuing our amazing year over year increases. Since our initiatives began in Q4 of 2012, we have steadily posted astonishing year over year results. Mekonza continues its exponential growth and we look forward to increased contribution from our recently announced MMJ initiatives planned for Colorado. We have attracted a great amount of interest, particularly with respect to our MMJ initiatives and have received an inordinate amount of inquiries. While we would like to respond to every shareholder inquiry, as required, we are only providing operational and financial updates by way of news release. We look forward to continued growth and exciting developments for 2014."
Q2 had reported a 4,600% increase in prior year's revenues and 1,500% increase in prior year's net profit; and Q3 had reported 3,700% increase in prior year's revenues and $573,194 in net profit versus a net loss of $54,678 for prior year 2012.
About Latteno Food Corp. (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. (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. (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.