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SANTA ANA, Calif.,
Feb. 14, 2013 /PRNewswire/ -- Latteno Food Corp. (OTC: LATF) is pleased to announce that, based on the submission to OTC Markets of the required Initial Company Information and Disclosure Statement and its Initial Financial Disclosure dated
December 31, 2012, together with the stipulated Legal Opinion Letter, it has been upgraded by OTC Markets to the highest trading status of "Current Information". By meeting the OTC Markets Group Guidelines for Providing Current Information guidelines, the Company will now be designated by OTC Pink Current Information.
The Current Information Market Tier Designation applies to reporting companies that submit filings to regulators with powers of review and that make the filings publicly available or non-reporting companies that make current information publicly available on the OTC Disclosure and News Service pursuant to OTC Markets
Guidelines for Providing Adequate Current Information. Disclosures are published pursuant to paragraphs (a)(5)(i) to (xiv), inclusive, and paragraph (a)(5)(xvi) of Rule 240.15c2-11 and the OTC Disclosure Guidelines.
As further evidence of its commitment to eventually becoming a fully reporting entity, the Company has brought its status with the
State of Delaware to the Active current level through the completion of the required State filings and fees; and has filed the required Form 15 with the Securities Exchange Commission.
The Company had recently announced the planned acquisition of GTG Inc. as its first step in its New Business Plan that calls for acquisitions and growth in the Medical Marijuana Industry which is currently estimated to be a
$1.7 - $2.0 Billion. Based on extrapolations of
Washington State's Office of Financial Management, estimates that the total US marijuana marketplace could be as big as
$46.42 billion per year if cannabis were legalized nationally. That does not include ancillaries such as hydroponics or paraphernalia, or services to the dispensary industry such as landlords, testing labs, security systems, insurance, advertising,
The legalization of medical marijuana in several states has paved the way for a budding edible medical marijuana industry and the Company is expanding into this exploding new marketplace of medical marijuana and cannabis edibles.