Cargo Connection Logistics Corp.'s Miami Facility Receives Approval as U.S. Customs Bonded Freight Station; Company Anticipates $500,000 of Additional Revenue with Minimal Associated Costs.INWOOD, N.Y. -- Cargo Connection Logistics Holding, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CRGO), today announced that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Cargo Connection Logistics Corp., has received notification from U.S. Customs that they have approved its license for its Miami facility to become a bonded container freight station. The license becomes effective Friday, September 16, 2005. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Jesse Dobrinsky, president of Cargo Connection Logistics Corp., for the past four years the Miami facility has operated as a bonded receiving station which allowed the company to accept only inbound freight that was not destined des·tine tr.v. des·tined, des·tin·ing, des·tines 1. To determine beforehand; preordain: a foolish scheme destined to fail; a film destined to become a classic. 2. for Miami. "The new license will allow the company to accept freight, clear customs and either deliver the freight in Miami or allow the freight to be transferred beyond Miami to its final destination within the US," said Dobrinsky. "We believe that this addition to our business will allow us to handle at least 5 million pounds of CFS CFS abbr. chronic fatigue syndrome CFS, n.pr See syndrome, chronic fatigue. CFS Chronic fatigue syndrome, see there cargo per year at the beginning in addition to the 40 million pounds of transfer and line-haul freight we are currently handling through this facility," said Scott Goodman Scott Goodman (born August 20, 1973) is an Australian butterfly swimmer, who competed at the Atlanta Olympics, winning a bronze medal in the 200m butterfly. Born and raised in Tasmania, Goodman was selected for his debut at the 1991 Pan Pacific Championships, but then missed , the company's CFO See Chief Financial Officer. . "This should equate to $500,000 of additional revenue with minimal associated costs. The Miami facility's designation as a US Customs Bonded Container Freight Station is a "terrific complement to Cargo Connection's other CFS facilities located in Atlanta, Chicago, Columbus and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of ," added Goodman." According to Dobrinsky, the company currently leases office space at its 36,000 square foot Miami facility to New York-based Sovereign Logistics. Dobrinsky said that Sovereign, which has extensive operations in Central and South America, has committed to utilizing Cargo Connection Logistics for all of its Container Freight Station needs in Miami. "From our perspective, this represents a welcome opportunity to consolidate our CFS operations at one location and in so doing achieve improved economies of scale given the expected transition of an additional 30 percent to 40 percent in increased throughput," said Sovereign President and 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. , Joe Decker. Cargo Connection Logistics Holding, Inc. consists of Cargo Connection Logistics Corp. and Mid-Coast Management, Inc., which are both headquartered in Inwood, NY. The Company also has offices in Atlanta, Charlotte, Chicago, Columbus, Miami, New York and Pittsburgh. The companies provide a comprehensive variety of transportation and warehouse capacity services to shippers throughout the nation. Currently the two companies have a total of 88 full-time employees. About Cargo Connection Logistics Corp./Mid-Coast Management, Inc. Cargo Connection Logistics Corp. 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, especially through the Gateways of Chicago, Illinois, JFK, New York, Miami, Florida or Atlanta, Georgia, with service areas throughout the Unites States and North America. Mid-Coast Management, Inc. is a container freight station specifically designed to handle internationally arriving freight for the major retail suppliers. Since its inception, Mid-Coast Management, Inc. has developed relationships with many retailers and also works with Freight Forwarders from around the world. Additional information about Cargo Connection can be obtained at its website http://www.cargocon.com The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 provides a "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " 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. |
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