Wednesday, March 24, 2010 11:47:01 AM
CCAJvery nice PR :Coastal Capital Acquisition Corp Announces Changes to Management, Name, Domicile,
Business Plan, and New Corporate Website
ATLANTA, GA, Mar 24, 2010 (MARKETWIRE via COMTEX) -- Coastal Capital Acquisition
Corp (PINKSHEETS: CCAJ) announced today that it has made certain changes to
management. The company has begun the process of moving the corporation to
Florida, and has undertaken a strategy that will from day one change the status
of our company from a shell corporation to an operating company. Coastal Capital
CEO Tracy Anderson said, "After many months of looking for a merger candidate we
have come to the conclusion that a merger will not happen unless or until we
reverse split the stock. Our stance through all of these different merger deals
has been and is today that we are not going to reverse split our stock and/or our
shareholders.
"With the above said I have come to the conclusion that the company must grow
organically with a plan executed from within. Given the new direction which we
are undertaking and the time constraints involved, I have resigned as the company
CEO. I will however continue to serve on the board of directors going forward
with Mr. Greg Pasco. The board has appointed Jeff Berkowitz to serve as the
company President and CEO in my place. Mr. Berkowitz also accepted the position
of Chairman. Shareholders should recall that Jeff was instrumental in negotiating
and ridding the company of the likes of Cornell Capital and the death spiral
funding undertaken by prior management at that time."
Jeff Berkowitz the newly appointed President and CEO said, "I'm happy to come
aboard and to be able to work with such talented professionals as Tracy Anderson
and Greg Pasco to re-build shareholder value. We will start with the
implementation of a plan that has been a passion of mine for many years. In short
this plan involves assisting private companies in going public. We will utilize
the registration process for certain deals and with certain other deals we'll
utilize a newly created subsidiary or 'SPAC' (Special Purpose Acquisition Corp).
Through this process our shareholders will be exposed to certain rights offerings
and or dividends of our client's common stock. These rights offerings and or
dividends when offered, will take place prior to the client filing a registration
with the SEC." As a part of this plan we are moving the corporation from Georgia to Florida and
changing the corporate name to JB Consulting Inc. After the move to Florida is
complete we will apply to FINRA for a new ticker symbol to reflect our corporate
name. We also took the domain JBconsultinginc.com and are in the process of
building our corporate website.
Lastly, given the direction we are taking, we felt it was best to accept Mr.
Barry Baker's resignation as he has taken a position with another public company.
Forward-Looking Statements:
This report contains forward-looking statements, including the use of the words
"expect," "anticipate," "estimate," "project," "forecast," "outlook," "target,"
"objective," "plan," "goal," "pursue," "on track," and similar expressions. These
forward-looking statements involve risks and uncertainties. Factors that could
cause actual results to differ materially from those predicted in any such
forward-looking statements include our ability to continue to lower our costs,
our timely development and customers' acceptance of our products, including
acceptance by key customers, pricing pressures, rapid technological changes in
the industry, increased competition, our ability to attract and retain qualified
personnel, our ability to identify and successfully consummate future
acquisitions; adverse changes in customer order patterns, adverse changes in
general economic conditions in the U.S and internationally, risks associated with
foreign operations and political and economic uncertainties associated with
current world events.
Contact:
Investor Relations
Richard Kravets
(215) 485-8239
Business Plan, and New Corporate Website
ATLANTA, GA, Mar 24, 2010 (MARKETWIRE via COMTEX) -- Coastal Capital Acquisition
Corp (PINKSHEETS: CCAJ) announced today that it has made certain changes to
management. The company has begun the process of moving the corporation to
Florida, and has undertaken a strategy that will from day one change the status
of our company from a shell corporation to an operating company. Coastal Capital
CEO Tracy Anderson said, "After many months of looking for a merger candidate we
have come to the conclusion that a merger will not happen unless or until we
reverse split the stock. Our stance through all of these different merger deals
has been and is today that we are not going to reverse split our stock and/or our
shareholders.
"With the above said I have come to the conclusion that the company must grow
organically with a plan executed from within. Given the new direction which we
are undertaking and the time constraints involved, I have resigned as the company
CEO. I will however continue to serve on the board of directors going forward
with Mr. Greg Pasco. The board has appointed Jeff Berkowitz to serve as the
company President and CEO in my place. Mr. Berkowitz also accepted the position
of Chairman. Shareholders should recall that Jeff was instrumental in negotiating
and ridding the company of the likes of Cornell Capital and the death spiral
funding undertaken by prior management at that time."
Jeff Berkowitz the newly appointed President and CEO said, "I'm happy to come
aboard and to be able to work with such talented professionals as Tracy Anderson
and Greg Pasco to re-build shareholder value. We will start with the
implementation of a plan that has been a passion of mine for many years. In short
this plan involves assisting private companies in going public. We will utilize
the registration process for certain deals and with certain other deals we'll
utilize a newly created subsidiary or 'SPAC' (Special Purpose Acquisition Corp).
Through this process our shareholders will be exposed to certain rights offerings
and or dividends of our client's common stock. These rights offerings and or
dividends when offered, will take place prior to the client filing a registration
with the SEC." As a part of this plan we are moving the corporation from Georgia to Florida and
changing the corporate name to JB Consulting Inc. After the move to Florida is
complete we will apply to FINRA for a new ticker symbol to reflect our corporate
name. We also took the domain JBconsultinginc.com and are in the process of
building our corporate website.
Lastly, given the direction we are taking, we felt it was best to accept Mr.
Barry Baker's resignation as he has taken a position with another public company.
Forward-Looking Statements:
This report contains forward-looking statements, including the use of the words
"expect," "anticipate," "estimate," "project," "forecast," "outlook," "target,"
"objective," "plan," "goal," "pursue," "on track," and similar expressions. These
forward-looking statements involve risks and uncertainties. Factors that could
cause actual results to differ materially from those predicted in any such
forward-looking statements include our ability to continue to lower our costs,
our timely development and customers' acceptance of our products, including
acceptance by key customers, pricing pressures, rapid technological changes in
the industry, increased competition, our ability to attract and retain qualified
personnel, our ability to identify and successfully consummate future
acquisitions; adverse changes in customer order patterns, adverse changes in
general economic conditions in the U.S and internationally, risks associated with
foreign operations and political and economic uncertainties associated with
current world events.
Contact:
Investor Relations
Richard Kravets
(215) 485-8239
For get my English I'm Hollands
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