From a $2.10 high in mid-May to a 3 cent low Wednesday, the amateur penny stock trader might think Latitude Solutions Inc. (LATI) was a former APS pump. The talk a year ago was about uplisting LATI stock to the big boards after multi-billionaire John Paul DeJoria joined the board of directors. Instead, the Company that specializes in contaminated water solutions was downlisted Wednesday to the Pinksheets after failing to keep current in its financial filings with the SEC.
Click HERE To Make Sure You Don’t Miss Any Of Our Breaking Alerts!
LATI Stock Chart
Market Cap: 7.50M
Close: 0.11, up 0.06 (120.00%)
Dollar Volume: $33,441
Average Trade Size: 7,885
Issued and Outstanding: 68,166,277
Looking for Hot Penny Stocks?
Click here and get Alerts on the Best Penny Stocks FREE
The bad news is that LATI stock price on Wednesday when the delisting news came out had dropped -98.57% from the 2012 high on May 15th, $2.10, -99.22% from the 52 week high, $3.85, set back in October of 2011, and -86.36% from its September 2012 high, $0.22. The delisting has caused for long investors to have seen an APS whacking to their value and, if not already, forced them to sell or consider Latitude Solutions inability to return its PPS altitude.
The good news, depending how you look at it, is that on August 28th J.W. Rhea, IV was appointed President and CEO of Latitude after a brief stint as COO and Director of the Company. Rhea nearly four decades of business and petroleum engineering experience in all phases of the upstream exploration and production sectors of the oil & gas industry, both domestically and internationally, onshore and offshore.
Since 2000, Rhea has been involved in the Eagle Ford Shale of South Texas, the Bakken Oil Shale of North Dakota, and the original Barnett Shale gas play in North Texas as a second generation oil & gas specialist. He earned a Bachelor of Science in Mechanical Engineering with Honors from the University of Texas at Austin and worked toward an MBA from the University of Texas, Permian Basin.
So, if one was to speculate on the appointment of Rhea and his expertise and partner that with Latitude’s continuing efforts of their agency relationship with Water the World, LLC, an Electro Precipitation™ system, most recently the actively and continuously treating water at the production facility of NaturalShrimp Holdings, Inc. located outside of San Antonio, Texas, Is LATI a diamond in the pink?
Long investors, even those from as early as the beginning of September, will be forced to average down if they intend on saving some skin from their investment. Furthermore, some may be looking to get in low since the NaturalShrimp facility will also serve as a 24/7 operational Research & Development Center for Latitude to further advance its technology and showcase potential clients Electro Precipitation™ in a live, commercially active setting.
Its not like they were a $0 top line Company prior to falling behind in their filings; Latitude did book $522,788 in revenues for the three months ended March 31, 2012.
About LATI Stock
Latitude Solutions, Inc. is a water remediation company and through its subsidiaries, licenses and operates its patented technology. The Company’s patented technology provides for sustainable treatment of high volumes of industrially produced waste waters for reuse and environmentally safe discharge. The Company, through its subsidiaries, owns and operates remediation equipment sets and intends to provide services to its clients through monthly and annual operating leases.
Bottom Line: LATI could be one of the hot penny stocks to play in October. Since May, LATI stock has been on a slide down a razor blade into a pool full of rubbing alcohol and the Friday upswing could be the beginning of moody trading that could show swing traders some daily opportunities to score some PIPS. Water treatment, a bakken/shale oil specialists as the CEO, and revenues, Latitude could change its downward attitude in a heartbeat.
Here is your opportunity to subscribe to the Most Read Penny Stock Newsletter
If You Can’t Make Money With Us, You Shouldn’t Be Trading Penny Stocks
(We are 100% Anti-Spam and will never rent or sell your information)Share