October 27, 2009 11:48 ET

Macada Holding, Inc. Announces Company Update

FORT LAUDERDALE, FL--(Marketwire - October 27, 2009) - Macada Holding, Inc. (PINKSHEETS: MCDA) announces the company shall have its audit done by the end of this week and submit it to the OTCBB company; this is one of the few requirements needed to complete the closing. At this time we have hired a new auditing firm to complete the audit, due to the enormous amount of calls and bashing with Joseph, Bagell & Co. For that reason they decided not to be involved and are no longer completing the audit, which forced us to hire a new firm last week which has been working diligently to complete the audit. Once completed, we will disclose the new firm.

Once the audit is completed, the caveat shall be removed again permanently. We have five signed deals with a major funding commitment soon to be announced. Once everything is in place we will announce the merger plan and company structure as well as the new OTCBB Company.

In addition we have received approval on all the boxes' graphic designs for the first phase of our products and have approved the manufacturing the boxes.

Vice President Steven Cohen stated: "We are in the final stages of completing the new company structure and preparing to move into the OTCBB arena and company; we have completed five agreements and are negotiating other mergers. We have signed the contract with the OTCBB Company and plan to be fully reporting with a closed major funding commitment in the new company. Due to the delay of the audit, the caveat has been placed back on pink sheets awaiting the option letter and audit, but we will have it removed as soon as the audit is place and completed. This gives us more strength to support our shareholders and to prove the performance of the company's position and growth."

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, 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