Coastal Capital Acquisition Corp. (PINKSHEETS: CCAJ), through its
wholly owned subsidiary, Earth Surfaces of America, Inc.
(www.earthsurfaces.net) is a leader and innovator in the
manufactured terrazzo, concrete and paver industry. The company
today released a letter to shareholders from its Chief Executive
Officer Anthony "Tony" DiNorcia.
Dear Shareholders:
On April 30, 2012 I became the Chief Executive Officer as well
as majority shareholder of Coastal Capital Acquisition Corp. This
event marked a significant step in the development of Earth
Surfaces of America, Inc. as well as myself personally. Earth
Surfaces had developed as far as it could under this difficult
economic environment and therefore I have decided to take the
extraordinary step of sharing the future fortunes of the company
with existing and new shareholders giving the company access to the
equity capital markets. By this letter, the company announces that
it intends to conduct more frequent communication with our
shareholders regarding our strategies, progress and creation of
shareholder value on an ongoing basis.
This letter will be the first of at least four planned open
letters annually to shareholders to be issued on a quarterly basis.
Announcements will address specific results and priorities driving
the growth engines for Coastal Capital Acquisition Corp. and its
wholly owned subsidiary Earth Surfaces of America.
Today's release is to help educate shareholders in the
fundamental strengths of our company and address a few common
questions received from shareholders to help reinforce the journey
ahead.
EARTH SURFACES OF AMERICA, INC. AS A
MULTI-MILLION DOLLAR BASE BUSINESS
First, we must point out that CCAJ's executive team, including
its board of directors, have a proven breadth of experience that
rivals the best of companies in the manufacturing of terrazzo
concrete and paver products. The specific talents relating to the
industry are illustrated by the breadth of the customer base of
Earth Surfaces which includes; Home Depot, The City of Hollywood,
Florida, Tropical Financial Bank, the Naples Beach Hotel and the
Sea Gate Hotel of Delray Beach, to name a few.
The stock market may ebb and flow on the news of the day, or
lack thereof, but a business with a solid foundation will stand the
test of time. We want to take a moment to review for everyone the
current foundation that defines Coastal Capital Acquisition Corp.,
and what it alone means to creating present and future shareholder
value.
Product Line:
Earth Surfaces has an extensive and evolving product line. We
manufacture made-to-order pre-cast eco-friendly terrazzo - concrete
products for exterior and interior use. All of our products are
made in Naples, Florida using local recycled material. Our products
can be produced with different aggregates, colors, shapes and
finishes to meet customer design specifications and to create an
appealing and distinctive appearance. Our products include: pavers
and tiles and related products such as pool copings, drains, wall
caps, curbing, steps and risers; architectural features such as
benches, tree grates bollards, planters and fountains; interior and
exterior wall claddings; counter and table tops; pebble mosaics;
and vessel sinks. Our artisans can make just about anything that a
customer may want.
Personnel Capital:
By adding Mr. Dan Governile, CPA as CFO and board member, the
company has now rounded out the management team. We recognize that
financial reporting to shareholders is crucial to the success of
the company. As we explore sources of capital available to the
company Mr. Governile will provide the expertise the company has
lacked to date. Board member Mr. Wayne Hook is a registered
Landscape Architect and is responsible for many site and product
design ideas. Finally, I have extensive experience in the "stone"
industry. I come from an Italian family of stone fabricators and I
have spent my life working with natural stone, terrazzo and
mosaics.
Over the last four years, we have recognized the market trends
for eco-friendly (green) products and have also recognized that
designers, architects and consumers are looking for viable
alternatives to natural stone and solid surface products that are
so over used today. Earth Surfaces of America's eco-friendly
product lines represent our commitment to utilizing materials that
offer little or no negative ecological effects to its surroundings
and meeting customer demands. Continuing to work with concrete
professionals and our customer base, we plan to continue to
innovate and expand our product lines and production capabilities
ultimately resulting in increased shareholder value.
Growth and Capital Needs:
During the last 90 days the company has experienced strong
customer demand. During July, the company experienced a 40%
increase in customer orders compared to the same period last year.
We expect comparable results for the months ending August and
September based on current production.
Of course growth requires capital to clean up legacy costs and
debt, to invest in equipment necessary to meet increased demand, to
grow our dealer network, and to expand our sales and marketing
efforts. As a result we have initiated discussions with accredited
investors. Those investors have offered to provide a credit
facility of up to $4,000,000, terms and conditions of which have
not yet been discussed. While we are still in the early stages of
our discussions, we want to inform our shareholders that we will
pursue such discussions to obtain capital to satisfy our business
goals and the needs of our customers.
Shareholder Communication:
We recognize the need for communication and transparency for our
shareholders. We intend to continue our reporting with OTC Markets.
Additionally, we intend to hold shareholder conference calls and
possibly teleconferences to further enhance our communication
efforts. We intend to enhance our web-site specifically addressing
shareholder needs. Such efforts should be announced in the near
future. Of course any shareholder can arrange a tour of our
facilities and are encouraged to do so.
With this said, we take you right back to the basic fundamentals
of our business, which today is building shareholder value that is
tangible, and growing as per our business plan. The Earth Surfaces
product line represents this base, and management anticipates that
on its own, Earth Surfaces will deliver significant shareholder
value and become a major brand in its industry sector over the next
five years. Each action we take as a board of directors and
executive team is specific and calculated to achieve a defined and
stated strategy that will be followed by an expanding pipeline of
Earth Surfaces, eco-friendly products.
Thank you for your continued support.
Sincerely,
Anthony DiNorcia Chief Executive Officer Coastal Capital
Acquisition Corp.
Safe Harbor Statement Certain statements
and information included in this release may constitute
"forward-looking statements" as defined in the Federal Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of the company to be materially different from any
future results, performance or achievements expressed or implied in
such statements. Additional discussion of factors that could cause
actual results to differ materially from management's projections,
estimates and expectations is contained in the Company's OTC market
filings. The Company assumes no obligation to update any
forward-looking statements as a result of new information, future
events or developments, except as required by federal securities
laws.
Contact: Tony DiNorcia Chief Executive Officer T: 239-435-7875
Email: tony@earthsurfaces.net
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