Latteno Food Corp. (OTC:LATF) recently reported record earnings. Q2 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.
2013 revenue was over 15 million dollars and LATF has been using their revenue to engage in many aggressive initiatives in the MMJ industry.
LATF is moving their headquarters to Colorado in an effort to rapidly grow its MMJ business. They have already signed a LOI to acquire a MMJ grow farm.
LATF had received several cash and stock offers to buy out its high revenue and profitable Mekonza company. The company has rejected all these offers as its profits continue to grow at a record pace.
Recently a hedge fund group gave LATF one million dollars in additional funding to help grow the business. With hedge fund groups starting to take a look at this company and invest their own money, it seems likely that more groups will come in to help boost its core business and allow it to further grow through acquisitions.
LATF was recently selected to become part of the Marijuana Index. About The Marijuana Index. The Marijuana Index (also known as The Cannabis Index or The Medical Marijuana Index) is the official equity tracking index for marijuana, cannabis, and hemp related equities. Created in first quarter of 2013, The Marijuana Index was built to pave the way for future funds, ETFs, or investment pools which may inevitably enter the public markets in this industry. The index is comprised of almost thirty companies and weighted by market cap.
The amount of attention this small stock is receiving recently coupled with its record profits makes this a unique opportunity to invest in a penny stock which is already profitable and is looking to aggressively grow its business through partnerships and acquisitions. LATF is going to be a solid player in the emerging MMJ market and it would not surprise me to see this stock trading much higher shortly.
Disclosure: I am long LATF. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.