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[QUOTE]Originally posted by Peaser: [QB] [b]Coastal Capital Acquisition Corp. Update on Accounting Activity[/b] Thursday September 18, 4:05 pm ET COLUMBUS, GA--(MARKET WIRE)--Sep 18, 2008 -- Coastal Capital Acquisition Corp. (Other OTC:CCAJ.PK - News) desires to update its shareholders on the progress of its accounting activity. The company received draft financials last week from our accounting professionals at Frazier & Deeter for the years 2005, 2006, and 2007. We are in the process of reviewing them and are evaluating independent accounting firms to conduct the audit of the books assembled by management and Frazier & Deeter in accordance with SEC rules and regulations. We will make that selection public as soon as it is deemed appropriate. The clean-up process thus far has been much more costly and time-consuming then anticipated but this activity has moved the firm closer to becoming a fully reporting company. Source: Coastal Capital Acquisition Corp. [/QB][/QUOTE]
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