NAPLES, FL--(Marketwire -08/31/12)- Coastal Capital Acquisition Corp. (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.
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.
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.
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.
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.
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.
Chief Executive Officer