Capital Growth Systems, Inc.(fka CGSYQ)

[Redlegs]

CGSYQ New Info Just Found!!!

http://files.shareholder.com/downloads/CAPG/1205759087x0x389338/2d33f106-0516-4c53-b190-28815c6390c0/CGSY_News_2010_7_23_General_Releases.pdf

Global Capacity has secured commitment for a capital infusion (debtor in possession financing) required to restructure the Company within Chapter 11 of the US Bankruptcy Code. The capital will be used to organize and satisfy payables to critical vendors and fund working capital. The Company also plans to eliminate as much of its existing debt as possible, equitizing the balance sheet, and reducing the monthly cash drain required for debt service. Through this process, the Company will seek to maximize value for its creditors and shareholders, with a goal of achieving some form of continuing participation for existing shareholders. The Company has retained Capstone Investments as its financial advisor to manage this process. Questions regarding the process may be directed to Capstone at [phone].