Cargo Connection Logistics Holding, Inc. Restates Financials From Operations of Prior Company Company Files 10-QSB Anticipates "e" to Be Removed From Symbol Shortly
INWOOD, NY, Jun 20, 2006 (MARKET WIRE via COMTEX) -- Cargo Connection Logistics Holding, Inc. (OTCBB: CRGOE) (BERLIN: CD6.BE) (FRANKFURT: 217026) today announced that it has completed the extensive work required to restate its financials from operations prior to the company becoming "CRGO."
Management at Cargo Connection Logistics Holding, Inc. has noted that they have completed the filing of their 1st Quarter 10-QSB filing with the SEC. The "e" denotation on their symbol should be taken off within a few days. The delay to its most recent filings have been due to restatements of previous years filings dealing with accounting issues inherited by the Company from the previous management team.
The restatements dealt with 2003 and 2004 and delayed the Company's filing of its 10-KSB for 12/31/2005 and its first quarter 10-QSB filing for 3/31/2006.
"With these issues, which were completely out of our control, now behind us we anticipate that all future filings will be done in a timely manner," said Jesse Dobrinsky, Cargo Connection Logistics Holding, Inc. CEO. "We regret any inconvenience this may have caused our valued shareholders and we truly appreciate your support. We can now dedicate 100 percent of our efforts to growing our business domestically and in the foreign markets we have targeted for expansion."
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.
312-421-0723 Chicago
305-937-1711 Miami
SOURCE: Cargo Connection Logistics Holding, Inc.
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