February 09, 2010 09:59 ET

Macada Holding, Inc. Announces It Is Canceling 58 Million Preferred Shares

Provides Company Overview

FT. LAUDERDALE, FL--(Marketwire - February 9, 2010) - Macada Holding, Inc. (PINKSHEETS: MCDA) announced that Anthony Mellone is canceling 30,000,000 of his preferred shares, Donna Yamin is canceling 3,000,000 of her preferred shares, and Antonio Mellone SR. is canceling 25,000,000 of his preferred shares back into the treasury. The legend on the preferred share convert 1 to 1 common and has a 1 for 20 voting right.

Management has been under negotiations for 4 weeks now with our subsidiary for the Emergency Response Hospital Unit to be shipped to Haiti. We have been working on this since the second day after the earthquake hit. The company has been filing all the legal documents and we have been reinstating our non profit corporation so we can be granted approval to send donations to Haiti. Most people may think it's too late, but the response we have received is great. Doctors in Haiti are in great need and a major demand for products and medicine supplies as well as generators, batteries, health products. Go to our site and help if you can.

Our new deal with the company we are planning to go onto the OTCBB should close next week. All Macada Holding shareholders will receive a pro rata dividend of the new parent Bulletin Board Company while retaining their Macada Holding shares. As of today's date, the company's share structure is still and will remain the same.

The companies' intentions are to move all the medical divisions into the OTCBB company.

Management stated that more information will be released subsequent to closing.

Safe Harbor Provision

This news release includes forward-looking statements, including with respect to the future level of business for the parties. These statements are necessarily subject to risk and uncertainty. Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors that could cause results to differ materially from estimated results. Management cautions that all statements as to future results of operations are necessarily subject to risks, uncertainties and events that may be beyond the control of Macada Holding, Inc. and no assurance can be given that such results will be achieved. Potential risks and uncertainties include, but are not limited to, the ability to procure, properly price, retain and successfully complete projects, the availability of technical personnel, changes in technology and competition.

Contact Information

  • Contact:
    Steven Cohen