Cargo Connection Logistics Holdings Reports Record Revenues Wednesday February 21, 8:00 am ET
Year End Un-Audited Sales Nearly 18 Million Dollars -- 21 Percent Increase Over Previous Year
INWOOD, NY--(MARKET WIRE)--Feb 21, 2007 -- Cargo Connection Logistics Holding, Inc. (OTC BB:CRGO.OB - News) (Berlin:CD6.BE - News) (Frankfurt:CD6.F - News) (Frankfurt:217026.F - News) today announced its un-audited revenue for the year ended December 31, 2006. The Company said preliminary, un-audited sales for the year-end December 31, 2006 were just under $18 million, a 21 percent increase from the previous year. ADVERTISEMENT
"As part of the Company's growth strategy we continue to work to develop its business on both national and international levels," said Jesse Dobrinsky, CEO of Cargo Connection Logistics Holding, Inc. "Not only have we increased our sales this past year, but we have also liquidated some of the toxic funding that we believe has hampered our growth. Our goal is to completely eliminate any funding that we believe has a negative impact on the growth and development of the Company. We also continue to work diligently to build Cargo's executive staff and broaden the base of its customers and its operations.
"We are acutely aware that our shareholders want to hear more about the Pacific Rim and CRGO's future in this arena," Dobrinsky added. "We are in the midst of an aggressive plan that includes working with a number of companies that are shipping out of the Pacific Rim while we continue our efforts to set up and establish the necessary relationships, licenses and permits to provide these new customers with the complete logistics solutions they require.
"The one thing we've learned over the past eight months is that doing business in the Pacific Rim is very heavily based upon relationships and trust and obviously, that is not something that is done quickly," Dobrinsky said. "We continue to build these relationships and during this upcoming year we expect that we will begin to see the fruits of our labor.
"On another positive note about 2007, we believe the acquisition of the RadRope(TM) Portable Nuclear Material Detection System will help diversify us into new, but associated markets," said Dobrinsky. "We will be presenting this technology over the next 60 days to key government and industry representatives. As this information develops we will keep you, our shareholders, advised.
"Since we've received a number of inquiries from shareholders concerning the release of information, it is important to note that we are strictly adhering to the edicts of all regulatory bodies and complying with everything required to maintain our good standing with these various agencies," Dobrinsky said. "This includes not jeopardizing our current registration statement by not making forward-looking statements. What we announce must be based on fact, not conjecture. We know that our shareholders want us to release news on a more frequent and regular basis. We can and will only release news that is factual and has a direct impact on the company."
About Cargo Connection Logistics Holding, Inc.
Company: Cargo Connection Logistics Holding, Inc. consists of Cargo Connection Logistics Corp. and Cargo Connection Logistics - International, Inc., which are both headquartered in Inwood, NY. The Company also has offices in Atlanta, GA; Charlotte, NC; Chicago, IL; Columbus, OH; Miami, FL; New York, NY; Pittsburgh, PA; and San Jose, CA. Cargo Connection Logistics is a leader in world trade logistics. Headquartered adjacent to JFK International Airport, the company is a transportation logistics provider for shipments importing into and exporting out of the United States, with service areas throughout the United States and North America. The companies currently provide a comprehensive variety of transportation and warehouse capacity services to shippers throughout the nation. They also have container freight station operations specifically designed to handle internationally arriving freight for the major retail suppliers through its CFS facilities in Florida, Georgia, Illinois, New York and Ohio. Cargo Connection Logistics' website is www.cargocon.com.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the Company is detailed from time to time in the Company's reports filed with the Securities and Exchange Commission, including, without limitation:
-- the Company's ability to increase its revenues, including by obtaining contacts with foreign shippers; -- the Company's financial condition, including its ability to continue as a going concern; -- the effect of the Company being in default on its indebtedness; -- the Company's ability to raise additional capital; -- the Company's reliance on key personnel and independent agents; and -- the Company's vulnerability to economic and industry conditions.
Contact: Contact: Peter Nasca Peter Nasca Associates, Inc. 312-421-0723 Chicago 954-473-0677 Ft. Lauderdale