Coastal Capital Acquisition Corp (CCAJ)

[PENNIEStoSTACKS]

CCAJ - RE-MERGER and REEMERGENCE of these DEALS ?

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=83026647

1) The OS has been reduced to 934,739,050 from 2,284,739,050

2) ANTHONY is still officer and director of Coastal Capital

3) the Series B shares being voting but not convertible into Coastal Capital's common stock.

Now ask yourself, why is ANTHONY still officer and director of Coastal Capital ?

Could it be because they plan on RE-MERGING, if not, what and why?

The three members of Coastal Capital's board of directors, who will remain directors, approved the Rescission Agreement, including the cancellation of the 1,350,000,000 shares issued to Mr. DiNorcia, on December 21, 2012. The cancellation of the 1,350,000,000 shares reduced Coastal Capital's outstanding common shares from 2,284,739,050 to 934,739,050.

Under the terms of the Rescission Agreement, Mr. DiNorcia was issued 5,000,000 shares of Series B Preferred Stock for his service in connection with Coastal Capital's internal investigation and continued service as an officer and director of Coastal Capital. Each one (1) share of Series B entitles Mr. DiNorcia to 10,000 votes on all matters presented to Coastal Capital's common stockholders. Mr. DiNorcia has waived the conversion feature attached to the Series B shares resulting in the Series B shares being voting but not convertible into Coastal Capital's common stock. The certificate of designation of the Series B Preferred Shares can be found on page 17 of Coastal Capital's articles of amendment filed with the Florida Secretary of State on August 12, 2010.

Mr. DiNorcia stated, "Removing the conversion feature of the Series B Shares will prevent dilution to the holders of our common stock that could result from the conversion of the Series B Shares into common shares."

http://ih.advfn.com/p.php?pid=nmona&article=55579224


Anthony owns this Company as well http://investorshub.advfn.com/boards/read_msg.aspx?message_id=82956084

Real products that you can't go without in the Tropics, this one is a no brainer if they get the BS straightened out. Jmo

http://investorshub.advfn.com/boards/replies.spx?msg=82942503

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