Latteno Food Corp. (OTC Pink: LATF) (PINKSHEETS: LATF) is pleased to announce that has filed the 2014 Q1 Financials and Disclosure required by OTC Markets in order to maintain the OTC Pink Current Information status, the highest of OTC Pink Marketplace Segments.
Led by continued strong sales in its wholly-owned subsidiary Mekonza's shipment growth of its fresh seafood products both domestically and internationally, Q1 revenue totalled $3,795,855; an increase over 2013 Q1 record breaking revenue. Additionally, the Denver-based company recently reported aggressive medical marijuana initiatives have commenced producing additional streams of sustainable revenue growth.
Net Profit before provision for taxes maintained previous year's level at $275,314 despite seasonal downturns and industry obstacles. Additionally, the Company's Mekonza unit recently report new distribution contracts that are anticipated to immediately increase Revenue 20-30% over the next number of months.
Additionally, the Company has recently announced progress on numerous fronts both in California, Nevada and, their new home, Colorado. Specific initiatives include the MMJ Delivery Service, MMJ Grower Warehouse facilities, MMJ Dispensaries and MMJ Evaluation Offices. Each of these initiatives has been developed to provide complementary sustainable revenue streams to each market it opens.
Concurrently with the Q1 filings, the Company filed amended Year End Disclosure and Financials, correcting dates and descriptions headings of the financial reports.
"Our results are very encouraging, creating a solid base on which to grow," commented CEO Thu Le. "The strong growth and sustainability of Mekonza has provided the resources to aggressively implement our multi pronged growth strategy for our MMJ initiatives. We look forward to a very rewarding 2014."
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 Rx Harvest Collective Inc. (RxHC.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.
Latteno Food Corp.
SOURCE: Latteno Food Corp.