DLAD - News out...
DealerAdvance Announces Spectrum Broadcasting's Contract Signing on KZAM-FM, Wichita Falls, Texas
2010-02-01 08:30 ET - News Release
ADDISON, TX -- (MARKET WIRE) -- 02/01/10
DealerAdvance, Inc. (PINKSHEETS: DLAD) (to become Cabal Communications Corporation) today announced Spectrum Broadcasting has signed the Asset Purchase Agreement for the purchase KZAM-FM, Wichita Falls, Texas.
DealerAdvance CEO Steven Humphries in making the announcement said, "Late last year the Company consummated an equity purchase in Spectrum Broadcasting based upon an LOI that Spectrum had signed to purchase KZAM-FM. We are pleased that Spectrum has signed the Asset Purchase Agreement to purchase the station license, facilities and tower site. Spectrum and the Seller will be filing an application for transfer of control with Federal Communications Commission (FCC) this month, which usually takes about 90 days for final approval."
In late 2009 DealerAdvance announced that it would become a broad-based media company with holdings in the print, broadcasting and billboard industry under the name Cabal Communications Corporation (the name change is still pending approval of FINRA).
Humphries also commented on the pending name change saying, "Our attorney received and answered what we believe are the final comments from FINRA on the pending name change last week. We are hopeful that the approval will be forthcoming shortly."
This news release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. When used in this release, words such as "estimate," "expect," "anticipate," "projected," "planned," "forecasted" and similar expressions are intended to identify forward-looking statements, which are, by their very nature, no guarantees of the Company's future operational or financial performance, and are subject to risks and uncertainties. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Due to the risks and uncertainties, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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