Thursday , November 17, 2005 11:15 ET
HOUSTON, TX, Nov 17, 2005 (MARKET WIRE via COMTEX) -- The Board of Directors of Coastal Holdings, Inc. (OTC: CSJJ), today announced that no reverse stock split is part of the Company's restructuring plan, as disclosed on November 15. This statement has been issued in response to concerns raised by several shareholders.
The Board also announced that, as part of the corporate restructuring, the Company will hire more personnel, including advisors, in order to effectively manage the new, high-growth projects that are in the restructuring plan. The Company is pleased to report that it has more than sufficient funds to finance this hiring initiative. For further information, shareholders may consult the financial statements issued in the Company's September 15 press release.
For more information please contact CEO Andrea Cortellazzi at (514) 288-9699.
Forward-Looking Statements
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.
Contact:
Coastal Holdings, Inc.
CEO Andrea Cortellazzi
Ph# (514) 288-9699
E-mail: aandre005@sympatico.ca
