SOURCE: Coastal Capital Acquisition Corp.

November 26, 2008 09:30 ET

Coastal Capital Acquisition Corporation Announces the Filing of a Form 15 and Investor Conference Call

COLUMBUS, GA--(Marketwire - November 26, 2008) - Coastal Capital Acquisition Corp. (PINKSHEETS: CCAJ) announces that it has filed a Form 15 with the Securities and Exchange Commission. Francis Manzo, Chief Executive Officer, said: "The Company had every intention of filing its delinquent 10Qs and 10Ks to become fully compliant with Sarbanes Oxley and the Securities Exchange Commission. We have in our possession the complete financials for the 2004, 05, 06, 07 and 08 as completed by Fraizer and Deeter. Management had the financials reviewed for viability by the auditor we were going to engage. Those filings were deemed to be ready for auditing by the auditing firm. However, we needed to have the prior auditors sign off in order to go forward and engage the new auditing firm. The company, through its corporate attorney Peter Campitiello, contacted the prior auditing firm and determined it to be in the best interest of the company and shareholders to file the Form 15."

Mr. Manzo also said, "The company will hold an investor Conference Call on Thursday, 12/4/08 at 12 pm EST. The number to enter the call is (218) 339-4600 and the access code is 230947#. The purpose of the call will be to discuss the filing of the Form 15, the refilling of a new registration as well as a merger candidate, the engagement of an auditing firm to complete the audits on the merger candidate's past 3 years financials, and open questions from shareholders to management.

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 statement 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 Information

  • Investor Relations Contact
    Jeff Berkowitz