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Coastal Holdings, Inc. Proceeds with the Acquisition of an Equity Interest in Efoora, Inc.
Tuesday , November 23, 2004 06:30 ET
HOUSTON, Nov 23, 2004 (PRIMEZONE via COMTEX) --Coastal Holdings, Inc. (Pink Sheets:CSJJ), a leading edge global technology holding company, announced today that it has decided to proceed with the acquisition of an equity interest in Efoora, Inc. Efoora Inc. is a late stage developer and manufacturer of laboratory quality rapid biotech diagnostic tests and components. Efoora's flagship test, the Efoora rapid HIV test detects the presence of circulating human antibodies to the HIV virus in serum, plasma, whole blood and fingertip whole blood. The test passed its FDA clinical trials in March of 2003 with exceptional performance for both sensitivity (greater than 99.8%) and specificity (greater than 99%). Test results are available in 20 minutes.
Coastal Holdings Inc.'s Board of Directors voted unanimously to execute the Investment Agreement that was originally signed on November 3, 2004. This decision was made after the completion of a comprehensive review performed by the Company's legal department. According to the review's findings, Efoora, Inc. is a legitimate going concern with the potential to provide above-average returns to Coastal Holdings Inc. and its shareholders. CEO Andrea Cortellazzi stated: "Following this review, we are now confident that our investment in Efoora Inc. will add value to Coastal Holdings Inc. and assist us in our goal of building a profitable technology holding company. We are also seriously considering increasing the amount of our investment due to its attractiveness and high potential return."
About Efoora, Inc.
Efoora, Inc. is a developer of rapid diagnostic tests and biosensors for a variety of diseases. Efoora's flagship assay, the Efoora Rapid HIV test recently completed U.S. clinical trials, and is under review by the FDA. In addition, Efoora is developing rapid diagnostic assays and biosensors for a variety of other diseases and substances of abuse. Efoora's test format utilizes an innovative biochemical approach developed as a result of years of research that yields both consistent and reproducible assays compliant under both GLP and GMP. Efoora's assays are manufactured using Virotek's proprietary, cost-saving technology. Virotek is the wholly owned in-vitro diagnostic and medical device-manufacturing subsidiary of Efoora. For more information, please visit http://www.efoora.com or contact David Grosky, CEO and Chairman of Prion at (847) 634-6400.
About Prion Developmental Laboratories
Prion Developmental Laboratories, Inc. (PDL) is a subsidiary of Efoora, Inc. dedicated to the design, development, and production of rapid diagnostic tests for Transmissible Spongiform Encephalopathies (TSE's) in animals and humans. PDL utilizes the manufacturing technology of the Efoora subsidiary Virotek, the wholly owned, in-vitro diagnostic and medical device-manufacturing subsidiary of Efoora. For more information about PDL, please visit http://www.prionlabs.com For more information please contact CEO Andrea Cortellazzi at (514) 288-9699 or visit the Company website at www.coastalholdings.com.
Forward-Looking Statements
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.
SOURCE: Coastal Holdings, Inc.
Coastal Holdings, Inc. CEO Andrea Cortellazzi (514) 288-9699 E-mail: aandre005@sympatico.ca URL: www.coastalholdings.com
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I did get in Malloy, at 1,250,000 shares at .0004. I'm going to try and get out at .0006-.0007, we'll see what happens. I think I can atleast come close to getting a 50% return which would be nice. I'm still holding CDVJ, will try and get out of that at .0007 and might then buy some CSJJ with it. We'll see what happens and I'll keep all of you posted. Take care and happy trading, Shadow. Lord knows I should have been doing this all along instead of holding cdvj for so long and doing nothing with it, time for a divorce with that stock.
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Boys this really had one hell of a run today as far as volume is concerned. Anyone have any idea if this could bode really well for the future price of this stock, let's say, in the next few days. Any input would be appreciated. Thanks to all-Shadow.
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Ok, Just purchased 1,250,000 shares. Lets see what this one can do. Does anyone know how many outstanding shares are on this stock? What is the history of thgis stock for it to have a .75 52 week high and now down to .0004? thanks
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Qbid101... the history of this stock is VERY, VERY bad! This company is a wholly-owned subsiduary of CDVJ (formerly PAVP). I have spoken to the CEO of this company more than twenty times. He is a scammer. Pure and simple. A cheater, a liar... and much, much more. Many on this board will tell you in graphic and vulgar terms just how they feel about Andrea Cortellazzi (CEO). You can find good info on RB, under CDVJ or CSJJ. Ceo has been convicted of fraud in Ottawa, Canada in connection to a mortgage scam. Ceo has been convicted of fraud in Montreal in connection to 2 Montessorri school scams (took the tuition money and ran, while parents showed up to see a building(school) all boarded up). I hate this man with a passion. He keeps dumping more and more shares, weekly, into the stream. You can disregard ANYTHING that is stated in PRs... they NEVER come to term.
That having been said... 0004 is just about the lowest it's ever been. And it regularly shoots up to 0007-0008... so... definitely possible to make gains here. BE CAREFULL THOUGH. salemm.
quote:Originally posted by qbid101: Ok, Just purchased 1,250,000 shares. Lets see what this one can do. Does anyone know how many outstanding shares are on this stock? What is the history of thgis stock for it to have a .75 52 week high and now down to .0004? thanks
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Qbid: I believe it as much as I belive that LYING POS Cortellazzi bought back 100,000,000 shares of CDVJ. (He said he was going to - but he DUMPED MORE on us during every tiny 20 minute run from his TOTAL BS PRs.
What you SHOULD do is read all the PRs back to a year ago December, under PAVP, then the change to CDVJ - and compare what he SAID he'd do - and what he had done. NOTHING. THe Airport project was a TOTAL lie - I spoke to the airport people myself, as has Salemm on more than 1 occasion. He NEVER submitted ANY of the required plans or paperwork to get ANYTHING approved at the airport.
The ONLY thing he did was use Us Shareholders as his personal ATM machine.
But do your own DD and you'll get a quick education on the penny game.....
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