Altitude
International Provides
CEO
Update
Port St.
Lucie, FL -- August 25, 2021 -- InvestorsHub NewsWire
-- Altitude
International Holdings,
Inc. (OTCQB:
"ALTD"),
a
diversified holding company that
recently
completed a Share
Exchange
Agreement with
Breunich Holdings, Inc (BHI), has
issued
the
following statement from
its
CEO and Chairman
Greg
Breunich:
Since our
last shareholder update on June 10, 2021, we have completed
several
material
agreements that have
transformed ALTD from a single product company to
a
high-performance
sports, education, and
technology group.
The
following are
my
takeaways
from
the
Super
8-K and
Consolidated Unaudited Proforma
Statement of Operations filed on
Friday:
BHI
audited revenues for
2019
were
$6,480,146,
with
2020 revenues down 16%
to $5,524,410
due
directly to mandated closures and shutdowns caused by COVID
(March
to mid-June).
Unaudited
proforma revenue was approximately $3.6 million for the six months
ending
June 30,
2021. Excluding the
impairment of goodwill and non-cash depreciation, the BHI group of
companies showed
an
unaudited loss of approximately
$18,000. However,
the results would be
cash flow positive if you
factor in
the
one-time
professional expenses
of
$290,000 resulting
from the
audits and legal fees for the Share
Exchange
Agreement,
Bottom
line, ALTD has fared
very
well
and
actually grew despite
being
directly impacted
by COVID.
We
have now
repositioned
ALTD with
multiple active operating entities, each
contributing revenue
streams that
are
scalable in their own right and will enhance the
visibility and effectiveness of our Altitude
Chambers. Before
the
merger,
BHI's investment for growth came from operational cash flow. As a
public company, we are finding growth capital to be far more
accessible and far less expensive
than what we could obtain
previously. We are moving
expeditiously to lock in a solid financial foundation and are
focused on some bolt-on targets that, if executed, will produce
immediate exponential growth. To that end, ALTD is working with a
top-flight investment banking firm specializing in taking OTC
companies to the Nasdaq through strategic acquisitions. We hope to
formalize this relationship shortly as we work together towards
finalizing an agreement to acquire a brand name entity that would
more than satisfy all financial requirements needed to up-list to
the Nasdaq.
Individually,
the
following
3
subsidiaries I believe are
best
positioned for
immediate
impactful
growth both organically and through acquisitions:
-
CMA
Soccer was
formed in
2018 and has more than doubled
in revenues in the past
year ($400,000 to $900,000).
Areas of
opportunities exist with professional team and soccer club
consolidations initiatives. Once consummated,
we
will
experience increased
customer
volume, revenue, and margin
resulting
in significant
growth
in our
soccer division.
-
North
Miami Beach Academy, our first
private/public park pilot program began operating at
the Judge Arthur Synder Tennis Center in 2017.
Public
Parks represent another
area of focus. We believe our
private/public park model
running
for the past four
years
represents another
scalable opportunity that
generates a high margin on low
cost and low revenue. We
plan
on integrating our
non-boarding sport and
academic academy programs in
parks across
the
country, with the
initial ramp up
focus in
Florida.
-
Trident
Water recently
rebranded Altitude Water
acquired
by
BHI in the
fall
of
2020
has
experienced dramatic
growth.
We are
delivering
our water
machines to
all
five
branches
of the military as well as
new end-users
in
Africa,
Europe, Asia, and
the
Americas. Through
our
flourishing
strategic
alignment
with Russkap Holdings, we
are receiving new requests for quotes almost
daily. We have
also
expanded
our
production
facilities based on the
influx of orders...
We have
recently signed Agreements with several superstar athletes
to serve
on our Advisory Board. I believe they
will
become
integral
parts
of
our
academies, particularly in
their chosen sport, as they are
all
committed
to one of ALTD's
key components,
helping
kids become high achievers and wonderfully successful
individuals. These
champion
athletes
are also fully committed to the success of our "Water to Africa"
initiative, which could well be one of the most important missions
any of us will undertake.
I
encourage all shareholders to review our Super
8-K
filing. I believe you
will learn a
great
deal about how ALTD
has
quickly
evolved
into
an integrated supportive
blend of companies structured for
rapid
growth through synergistic acquisitions
Safe
Harbor Statement
This
press release contains certain "forward-looking
statements," as defined in United
States Private Securities Litigation Reform Act of
1995, involving many
risks and
uncertainties. There can be no assurance such statements will
prove to be accurate; actual results and
future events could differ materially from management's
current expectations. Economic, competitive,
governmental, technological, and other factors
identified in company's
previous filings with Securities and Exchange Commission may cause
actual results or events to differ materially from those described
in forward-looking statements in
this press release. The company
undertakes no
obligation to publicly update or revise any
forward-looking statements, whether resulting
from
new
information, future
events, or
otherwise.
Media
contact: Justin Baronoff 561-750-9800;
justin@transmediagroup.com.
