Latitude 360 Inc (OTCMKTS:LATX) Stops Its Fall

[[tagnumber 0]][[tagnumber 1]]After moving sideways throughout most of the first half of the year we saw the stock of Latitude 360 Inc (OTCMKTS:LATX) rapidly decline in the past few months. At first we didn’t see that much trading, but the daily volumes have increased significantly in recent sessions.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The sad performance, however, was not that surprising. Even though [[tagnumber 6]]LATX[[tagnumber 7]] is an operating company its business model has had a significant impact on the financial side, and not for good. Here is a quick look at the numbers contained in the company’s latest quarterly filing.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: ZERO[[tagnumber 13]] [[tagnumber 12]]current assets: $391 thousand[[tagnumber 13]] [[tagnumber 12]]current liabilities: $88.5 million[[tagnumber 13]] [[tagnumber 12]]quarterly revenues: $4.3 million[[tagnumber 13]] [[tagnumber 12]]quarterly net loss: $4.3 million[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The lack of cash and the small amount of assets aren’t the biggest problem. As we can see [[tagnumber 6]]LATX[[tagnumber 7]] has a massive amount of liabilities, but what’s worst is the fact that $26.83 million of them are in the form of short–term payable notes, which reads like quite a lot of dilution.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Meanwhile, the company itself isn’t too keen on providing investors with regular optimistic press releases. The latest PR was from September 22 and it was concerning a partnership with MyCheck. Needless to say, the press release only worked for a day and [[tagnumber 6]]LATX[[tagnumber 7]] returned to sliding.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]It seems, however, that the ticker might have hit a low. Yesterday we saw the company stock gain 33.01% in value without the aid of any press release or paid promotion. As the ticker went on to close at $0.0411 we saw increased volume and the 2.1 million shares that changed their owners generated $73 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Will, this be the end of the slide or will [[tagnumber 6]]LATX[[tagnumber 7]] continue south is for time to tell. Meanwhile, you should be sure to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]