Altitude International Holdings Inc.
(Note: This is NOT an IPO. This is a NASDAQ uplisting from the OTC Market, where Altitude International’s stock trades under the symbol “ALTD” and the last sale price on Nov. 2, 2022, was $5.92, assuming a 1-for-175 reverse stock split. The company has applied to list its stock on the NASDAQ under the proposed stock symbol “ALTD” – according to the prospectus. This is a NASDAQ uplisting/ public offering of 1.69 million shares (1,689,190 shares) of common stock at an assumed public offering price of US$5.92 to raise $10.0 million.)
Altitude sports properties consist of Altitude Academies, Altitude Volleyball, CMAS and NMBA.
Altitude Academies provides tennis, golf, soccer, beach volleyball and indoor volleyball programs specializing in the training and education of young aspiring student-athletes from around the world, providing a pathway from elementary school to college to the professional ranks. The academies operate from the Sandpiper Bay Resort, providing a setting with infrastructure to deliver excellence in education and sports training. The facilities include 5 classrooms, lecture rooms, theaters, 4 indoor conference areas, outdoor pavilions, 28 rooms of housing, multiple dining facilities, a fitness center, an 18-hole golf course, a state-of-the-art 8-court beach volleyball facility, a driving range, multiple putting and chipping greens, 21 tennis courts, an artificial turf soccer field, a basketball court, 3 pools (one 5-lane and a 25-meter lap pool), theaters, marinas, spa and more. Altitude Academies also operates a proprietary educational model that currently focuses on blending sports and academics.
The Company leased with an option to purchase the Sandpiper Bay Resort in Port St. Lucie, Florida, on Sept.2, 2022, to diversify its offerings as well as complement the Company’s existing academies. The 216-acre, 335-room resort property has been the location for the academies for 13 years and the global corporate headquarters since 2021. The resort is flagged under Trademark Collection® by Wyndham and managed by Our Town Hospitality LLC. The resort is a world class global destination for the Company’s training, education and active resort junior adult and professional businesses. The Company plans to perform an extensive $25 million renovation of the waterfront hotel, marina and world-class athletic facilities, including an on-site golf course and driving range, tennis, pickleball, volleyball courts and soccer fields. The resort is strategically located near four international airports and major cruise ports.
With more than 35 years in education, Altitude’s blended approach to education ensures those who participate receive an excellent education, have the opportunity to attend some of the finest universities in the United States, and become lifelong learners with a keen interest in high achievement. The academy is a registered accredited educational brick-and-mortar school with traditional classroom instruction utilizing an accredited curriculum in the State of Florida. Currently, education initiative has 170 full-time students, with an average tuition rate of approximately $30,000 per student.
Altitude Online was established to support and address the global demand for distance learning. This is a natural extension of our existing brick-and-mortar academic operations. Now students from around the world will have the opportunity to earn an American high school diploma in their home countries while attending Altitude Online. There are 60 languages incorporated with the platform, making it easy to onboard students from around the world.
Altitude Water manufactures Atmospheric Water Generators (“AWGs”). AWGs produce pure water through the condensation process. Our AWGs range from smaller residential to light commercial and heavy-duty military-grade machines. The machines supply up to 12, 100, and 200 gallons of water per day and cost approximately $4,000 to $75,000 per unit.
SLCS was formed to operate the operations and technology for a wide variety of services to its corporate customers, including but not limited to general office cleaning, carpet cleaning, window cleaning and other janitorial protocols. Fogging to prevent and protect against exposure to various bacteria, fungi, and viruses. During the coronavirus (COVID-19) pandemic, SLCS performed, and continues to perform, weekly fogging and sanitizing services for CMAS.
Altitude Chambers specializes in creating uniquely engineered, membrane-based designs for simulated altitude training environments.
Altitude Wellness will focus on helping its future members reach their individual health goals by offering various experiences that enhance the way members look and feel. Multiple modalities ranging from altitude chambers, cryo chambers, ozone chamber, red light therapy, IV therapy, infrared sauna and neuro feedback are just a few of the treatments that will be available.
Altitude Hospitality will operate the resort as “Sandpiper Bay Resort” under the “Trademark Collection® by Wyndham” brand. The company anticipates 15,000 to 20,000 guests will visit the property on an annual basis.
**Note: Revenue and net loss figures are for the year ended Dec. 31, 2021.
|Industry:||SERVICES-AMUSEMENT & RECREATION SERVICES|
|Address||4500 SE Pine Valley Street Port Saint Lucie, FL 34952|
|View Prospectus:||Altitude International Holdings Inc.|
|Revenues||$6.6 mil (last 12 months)|
|Net Income||$-1.8 mil (last 12 months)|
|Price range||$5.92 - $5.92|
|Est. $ Volume||$10.0 mil|
|Manager / Joint Managers||EF Hutton|
|Expected To Trade:|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|