CNDO, Coronado Industries Announces Reorganization
Management of Coronado Industries announces today the sale of a majority of its stock and controlling interest and the sale of its subsidiary companies for relief of debt. Coronado's European contracts will remain in force at this time with Coronado Industries.
New management, capitalization and products will be introduced in the near future. As part of the recapitalization a 100 to 1 reverse split will be implemented in the upcoming weeks.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the company's products, increased levels of competition for the company, new products and technological changes, the company's dependence on third-party suppliers, and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.
Coronado Industries
Richard Smith, 480-837-6810
Source: Business Wire (January 26, 2007 - 3:10 PM EST)
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