Cargo Connection Logistics Holding, Inc. Signs Option Agreement to Sell Beverage Formulas.INWOOD, N.Y. -- Cargo Connection Logistics Holding, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CRGO), today announced that it has entered into an option agreement with Healthy Body Beverages, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a 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. of Augusta Holdings, LLC, to sell its ChampionLyte(R) beverage formulas. Under the terms of the agreement, the Illinois-based Healthy Body Beverages will pay Cargo Connection Logistics Holding, Inc. $25,000 for a one-year option to purchase the rights to the formulas of the isotonic isotonic /iso·ton·ic/ (-ton´ik) 1. denoting a solution in which body cells can be bathed without net flow of water across the semipermeable cell membrane. 2. sports drink, ChampionLyte(R). If Healthy Body executes the option any time during the option period, it will pay Cargo Connection Logistics Holding an additional $225,000 plus three (3%) percent of the net profits derived from the sale of ChampionLyte(R) for a three-year period from the date of the closing. Healthy Body can extend the purchase option for an additional six months by paying an additional $25,000. "While we have never intended to operate the beverage company, we've always believed it is a valuable asset," said Cargo Connection 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. Jesse Dobrinsky. "We've entertained several offers and we feel it is in the best interests of our shareholders to proceed with Healthy Body. This could equate into a significant cash infusion to the company as well as residual income as the result of our participation in future sales." Healthy Body Beverages, LLC has developed an extensive strategy to market and distribute the product through identified retail and wholesale channels as well as develop a full line of private label beverages. "We are pleased to have the opportunity to develop and market such a healthy product within the isotonic sports drink category," said Healthy Body Beverages, CEO Richard DiStasio. "We see a great demand for this product based upon a consumer market focused on the consumption of healthy products containing no sugar, carbs or calories." ChampionLyte(R), was the first completely sugar-free entry into the multi-billion dollar isotonic sports drink market. It is a sports drink with no sugar, calories, sorbitol sorbitol /sor·bi·tol/ (sor´bi-tol) a six-carbon sugar alcohol from a variety of fruits, found in lens deposits in diabetes mellitus. , saccharin saccharin (săk`ərĭn), C7H5NSO3, white, crystalline, aromatic compound. It was discovered accidentally by I. Remsen and C. Fahlberg in 1879. Pure saccharin tastes several hundred times as sweet as sugar. , aspartame aspartame: see sweetener, artificial. aspartame Synthetic organic compound (a dipeptide) of phenylalanine and aspartic acid. It is 150–200 times as sweet as cane sugar and is used as a nonnutritive tabletop sweetener and in low-calorie , caffeine or carbonation. The product, which is available in five flavors, orange, lemon-lime, fruit punch, blue raspberry and pink lemonade, replaces essential fluids and electrolytes in the body after exercise. 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 90 employees. 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" 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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