CARCORP USA Corporation Announces Update to Merger With Elite Flight Solutions; Elite Flight Solutions Expected to be Profitable in the First Quarter of Business.Business Editors DEERFIELD BEACH Deerfield Beach, town (1990 pop. 46,325), Broward co., SE Fla., on the Atlantic coast; inc. 1925. The development of high-technology industry and commerce expanded the town and more than doubled its population between 1970 and 1990. , Fla.--(BUSINESS WIRE)--May 13, 2003 CARCORP USA Corporation, a Delaware Corporation A Delaware corporation is a corporation chartered in the U.S. state of Delaware. Delaware is well known as a corporate haven, and thus, over 50% of US publicly-traded corporations and 58% of the Fortune 500 companies are incorporated in the state. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CUSA CUSA Conference USA (Collegiate Athletic Conference) CUSA Carleton University Students Association (Canada) CUSA Certified Utility Safety Administrator (US National Safety Council) ), announced that the merger with Elite Flight Solutions is nearly complete. On 6 May 2003, CARCORP USA announced that majority shareholders had approved the merger and additionally, the Information Statement and Notice of Actions Taken by Written Consent of the Majority Stockholder had been mailed to shareholders of CARCORP USA common stock as well. Once the merger is completed, a Company name change to Elite Flight Solutions as well as a ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors change will occur. Once this action is complete, CARCORP USA will acquire complete ownership of Elite Flight Solutions. "As I have stated before, this clearly illustrates our commitment to our new business. In today's world, there is a strong market for charter jet services. Charter jet services are much safer and makes traveling much quicker and easier for our clients. Instead of spending the entire day in airports and going through endless security, our clients can get a flight directly to their destination. We will be serving over 5000 airports around the country so we can take our clients just about anywhere they want to go in less than half the time it would take them to get there using the conventional airlines," said Mike DeMeo, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CARCORP USA. "In addition, this merger will bring the Company back to profitability in the first quarter of operations. We believe that this merger will enable our stock to achieve full valuation in the coming months and will enable our shareholders to reap the benefits of our new line of business," Mr. DeMeo went on to say. About Elite Flight Solutions Elite Flight Solutions has one of the most extensive networks of charter jets in the private aviation industry. It will provide a one-stop-shop for client air charter needs. Additionally, service agents are on call 24 hours a day to handle any request, from booking a last minute flight to full concierge service. Elite Flight Solutions charter service is not only available to major commercial airports, but in excess of over 5,000 airports nationwide. Elite Flight Solutions fills a niche that still has plenty of room for growth. Clients no longer have to deal with congestion The condition of a network when there is not enough bandwidth to support the current traffic load. congestion - When the offered load of a data communication path exceeds the capacity. , lines, flight delays, or security worries. Finally, clients may pay for one trip at a time and have the ability to tailor services to their specific travel needs. For further information on Elite Flight Solutions Inc. go to http://www.flyjets.biz biz n. Informal Business. biz Noun Informal business Noun 1. a division of Elite Flight Solutions Inc. Recently the website has been updated and will help keep investors better informed as to the business of Elite Flight Solutions. FORWARD LOOKING STATEMENTS: Statements about the company's future expectations, including revenues and earnings and all other statements in this press release other than historical facts are "forward looking statements" within the meaning of section 27A of the Capital Securities Act of 1933, section 21E of the Securities Exchange act of 1934, and as the term defined in the Private Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. The Company's actual results could differ materially from expected results. The company undertakes no obligation to update forward looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this press release, the company will appropriately inform the public. For investor relations Investor relations The process by which the corporation communicates with its investors. please contact Investor@Carcorpusa.com or Fly Jets.Biz at 866-FLY-JETS. |
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