MCDA SIGNS LOI TO MERGE:
Feb 18, 2010 07:30 ET
Macada Holding, Inc. Announces They Have Signed an LOI to Merge
FT. LAUDERDALE, FL--(Marketwire - February 18, 2010) - Macada Holding, Inc. (PINKSHEETS: MCDA) announced that they have signed an LOI to merge a profitable company which closed its 2009 fiscal year with over 1.3 million in revenue, details soon to be announced. They are closing the definitive agreement and plan to close within the next two weeks.
Steven Cohen has resigned and the board and company have accepted his resignation. Anthony Mellone shall be resigning shortly after closing. They have officially canceled 58 million preferred shares, leaving 19 million issued, in which the majority shall be issued in the merger to the new officers and partners.
As of today's date, the company's share structure has changed with the cancellation of the 58 million.
Safe Harbor Provision
This news release includes forward-looking statements, including with respect to the future level of business for the parties. These statements are necessarily subject to risk and uncertainty. Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors that could cause results to differ materially from estimated results. Management cautions that all statements as to future results of operations are necessarily subject to risks, uncertainties and events that may be beyond the control of Macada Holding, Inc. and no assurance can be given that such results will be achieved. Potential risks and uncertainties include, but are not limited to, the ability to procure, properly price, retain and successfully complete projects, the availability of technical personnel, changes in technology and competition.
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