Carcorp USA Inc. Enters Agreement to Acquire Airlines and Air Charter Company.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)--Jan. 28, 2003 Carcorp USA Inc., 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) ) has executed and accepted a letter of intent to acquire Elite Flight Solutions Inc, a Sarasota based airline and air charter service. The transaction will close no later than February 28, 2003. Pending completion of the audits already underway and due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. package being completed, the closing is expected to proceed as planed "A new day is at hand and a new exciting beginning" said Michael DeMeo, Carcorp USA President. "We are now afforded an opportunity to participate in a growing industry, air charter and direct route air service" DeMeo added. Elite Flight Services Inc., brings to the table a seasoned executive team in the business of air transportation and a management team capable of immediate expansion. The acquisition provides this private company the vessel for growth in accordance with the companies own business plans. Further expansion plans are in place. A name change, symbol change and a new board of directors selected to reflect the nature of the business will be named at a later date prior to closing the transaction no later than February 28, 2003. The law firm of Kirkpatrick and Lockhart LLP LLP - Lower Layer Protocol are presently preparing the final closing documents. FORWARD LOOKING STATEMENTS: Statements about the company's future expectations, including the future earnings or revenues, and all other statements in this press release other than historical facts are "forward looking statements" within the meaning of section 27A of the Securities Act of 1933, section 21E of the securities Exchange Act of 1934, and as the term is 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 for-ward -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. |
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