ALTITUDE INTERNATIONAL HOLDINGS, INC. The statements contained in the following MD&A and elsewhere throughout this
Quarterly Report on Form 10-Q, including any documents incorporated by
reference, that are not historical facts, including statements about our beliefs
and expectations, are "forward-looking statements" within the meaning of the
These forward-looking statements, which reflect our management's beliefs,
objectives, and expectations as of the date hereof, are based on the best
judgement of our management. All forward-looking statements speak only as of the
date on which they are made. Such forward-looking statements are subject to
certain risks, uncertainties and assumptions relating to factors that could
cause actual results to differ materially from those anticipated in such
statements, including, without limitation, the following: economic, social and
political conditions, global economic downturns resulting from extraordinary
events such as the COVID-19 pandemic and other securities industry risks;
interest rate risks; liquidity risks; credit risk with clients and
counterparties; risk of liability for errors in clearing functions; systemic
risk; systems failures, delays and capacity constraints; network security risks;
competition; reliance on external service providers; new laws and regulations
affecting our business; net capital requirements; extensive regulation,
regulatory uncertainties and legal matters; failure to maintain relationships
with employees, customers, business partners or governmental entities; the
inability to achieve synergies or to implement integration plans and other
consequences associated with risks and uncertainties detailed in our filings
with the
We caution that the foregoing list of factors is not exclusive, and new factors may emerge, or changes to the foregoing factors may occur, that could impact our business. We undertake no obligation to publicly update or revise these statements, whether as a result of new information, future events or otherwise, except to the extent required by the federal securities laws.
This discussion should be read in conjunction with our financial statements on our 2021 Form 10-K, and our financial statements and the notes thereto contained elsewhere in this Quarterly Report on Form 10-Q.
Plan of Operation
The 2022 operational plan consists of:
1. Continue establishing and expanding the different segments associated with
the expanded ALTD operations. The divisions include:
a. Altitude Chamber Technology Division
b. Tennis, Golf, Basketball, Volleyball and Academic Academies Division
c. Soccer Academy Division, including RUSH Soccer
d. Water Manufacturing / Technology Division
e. Cleaning and Sanitation Division
f. Altitude Wellness Division
g. Altitude Online Learning Division
2. Adopt a comprehensive branding, marketing, digital and social media strategy
for the revenue lines above.
3. Update a back-office administration plan and adopt a staffing and management
hierarchy for the multi-discipline operation.
4. Plan to expand in complementary ways, including establishing a basketball
division (estimated to be ready for student athletes in 2022) and swimming
and lacrosse divisions) estimated to be ready for student athletes in 2023).
No assurances can be given that any of these plans will come to fruition or that if implemented that they will necessarily yield positive results.
21
Impact of COVID-19 Pandemic
In response to the COVID-19 pandemic, during 2020 and continuing in 2021, the Company established policies and protocols to address safety considerations. The extent to which the COVID-19 pandemic will continue to affect the Company's business, financial condition, liquidity, and the Company's operating results will depend on future developments, which are highly uncertain and cannot be predicted.
Off-balance Sheet Arrangements
We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.
Results of Operations
For the three months ended
Revenue
The Company had revenue of
Direct Costs of Revenue
The Company had direct costs of revenue of
Operating Expenses
The Company had operating expenses of
Net Income (Loss)
The Company had a net loss of
Liquidity and Capital Resources
As of
Operations used cash of
22
We provided cash from investing for financing activities of
We had cash provided by financing activities for the three months ended
We will have to raise funds to pay for our expenses. We may have to borrow money from shareholders or issue debt or equity or enter into a strategic arrangement with a third party. There can be no assurance that additional capital will be available to us. We currently have no arrangements or understandings with any person to obtain funds through bank loans, lines of credit or any other sources. Since we have no such arrangements or plans currently in effect, our inability to raise funds for our operations will have a severe negative impact on our ability to remain a viable company.
© Edgar Online, source
