Cargo Connection Logistics Holding, Inc. CEO Issues Shareholder Message on Very Promising Provisional Third Quarter Results To the Shareholders of Cargo Connection Logistics Holding, Inc.
INWOOD, NY, Oct 31, 2006 (MARKET WIRE via COMTEX) -- As Chairman and CEO of
Cargo Connection Logistics Holding, Inc. (OTCBB: CRGO) (BERLIN: CD6) (FRANKFURT:
CD6) (FRANKFURT: 217026), I wanted to take this opportunity to provide you with
an update on our operations for the third quarter of 2006. The Company reported
an approximate 30% increase in sales in the second quarter of 2006 and based on
preliminary numbers, the third quarter seems to be on the same track. However,
we are unable to provide that report until the 10-QSB is filed. The first half
of 2006 was strong for the Company and June, as we previously reported, was a
record month. We will have the final unaudited numbers for the third quarter
when the 10-QSB is filed, on or around November 14, 2006.
While we are pleased with these results, we believe that the Company will continue to grow its top line revenue and as a natural progression improve its bottom line as well. The recent growth that the Company has experienced was expected by us based on the business model we were following and for that reason we will continue with the business model that is in currently in place.
While we appreciate everyone's interest in the Pacific Rim, management is focused on making sure that the Company is properly set up to handle business from that region. Because we are so confident that this area will eventually represent a significant amount of business for the Company, we need to be assured that that we are in complete compliance with all domestic and international regulations. This is a tedious process and is underway. Of course, while we work through that process, we are continuing our efforts to improve shareholder value by building upon our domestic foundation.
The most pressing opportunities for the Company include: joint ventures; Cargo Connection Logistics field offices; management consulting contracts; free trade zones; and consolidation and deconsolidation facilities (both domestically and internationally).
We recognize that our endeavors in the Pacific Rim are of great interest to our Shareholders. The Company will make every effort to keep you apprised of the progress it makes and with the relationships we have initiated. As part of this process, let me inform you that we are building what we believe is an "ALL-STAR" Management Team to help grow and protect the Company and its Shareholders. The latest part of this building process was the addition of Raymond Hunt as a member of the management team. It is common business sense that in order to have a successful company we must have a great management team. We understand this and it is for that reason we are glad that Ray has agreed to join in our efforts on behalf of the Company.
During this period we can only provide our shareholders with concrete factual information. Any other disclosures or conjecture would be forward looking and against SEC practice. We would love nothing more than to talk about all of the areas that we are currently pursuing; however, it would be detrimental to our SEC filings and by direct association be detrimental to our shareholders. I appreciate everyone's interest and desire for news but we must be compliant.
As your Chairman I would like to thank our loyal shareholders for their continued confidence and support. I assure you that we are working as hard as ever and as witnessed by our continuing improved financial results, we are seeing the results of those efforts.
Jesse Dobrinsky, Chairman & CEO
About Cargo Connection Logistics Holding, Inc.
Company: Cargo Connection Logistics Holding, Inc. consists of Cargo Connection Logistics Corp. and Cargo Connection Logistics - International, Inc. (formally Mid-Coast Management, Inc.), which are both headquartered in Inwood, NY. The Company also has offices in Atlanta, GA; Charlotte, NC; Chicago, IL; Columbus, OH; Miami, FL; New York, NY; Pittsburgh, PA.; and San Jose, CA. Cargo Connection Logistics is a leader in world trade logistics. Headquartered adjacent to JFK International Airport, the company is a transportation logistics provider for shipments importing into and exporting out of the United States, with service areas throughout the United States and North America. The companies currently provide a comprehensive variety of transportation and warehouse capacity services to shippers throughout the nation. They also have container freight station operations specifically designed to handle internationally arriving freight for the major retail suppliers through its CFS facilities in Florida, Georgia, Illinois, New York and Ohio. Cargo Connection Logistics' website is www.cargocon.com
Contact:
Peter Nasca
Peter Nasca Associates, Inc.
954-473-0677 Ft. Lauderdale
312-421-0723 Chicago
SOURCE: Cargo Connection Logistics Holding, Inc.
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