Cargo Connection Logistics Holding, Inc. Chairman Issues Shareholder Message Regarding Visit to Pacific Rim
INWOOD, NY, May 08, 2006 (MARKET WIRE via COMTEX News Network) --
To the Shareholders of Cargo Connection Logistics Holding, Inc.
As Chairman of Cargo Connection Logistics Holding, Inc. (OTC BB: CRGOE) (Berlin: CD6.BE) (Frankfurt: 217026) I wanted to take this opportunity to provide you with a brief overview of our recent trip to the Pacific Rim. I believe that the trip to China generated a great deal of interest in services and systems that our Company can bring to the Chinese marketplace. Suffice it to say, we believe that the opportunities for our Company in the world's largest nation are extensive.
While in the Pacific Rim we visited three Countries. Our first stop was in China where we visited 6 cities. These cities included Beijing, Zhaoyuan, Shanghai, Quingdao, Chongqing and Shandong. After our visit to China we went to Singapore. Singapore is currently the largest Ocean Port in the world and acts as a consolidation port for many of the feeder vessels from the Pacific Rim transiting freight around the world. Additionally, a significant portion of our contingent, that was in the Pacific Rim on behalf of the Cargo Connection Logistics, continued on to Vietnam to pursue other business opportunities.
Frankly, I was quite surprised and impressed by the development in China. The recent growth and westernization of the country was extremely impressive and would be difficult to comprehend without having personally experiencing it. We found the people of China to be warm, hospitable and very anxious to develop relationships with American companies such as Cargo Connection Logistics. The most pressing, as well as potential, opportunities for our company include: joint ventures, Cargo Connection Logistics field offices, management consulting contracts, free trade zones and consolidation and deconsolidation facilities within China. We are currently working on setting up offices in several of the cities in China with a few of the companies with whom we had met. In addition, we will host many of their offices and personnel in the United States. We may also have the potential to assist in the development of international cargo facilities in Beijing, Quingdao and Chongqing in China. Additionally, we are also investigating the opportunity of opening offices and adding personnel within Vietnam.
We feel that with the recent establishment of Cargo Connection Logistics - International, under the helm of David Quach, we have made a head start in our efforts to take advantage of these many opportunities. While we have always been impressed with David's professional credentials and his stellar reputation, the ability to see him interact in the Pacific Rim was most reassuring. We believe that we are well positioned to achieve our goals of becoming a major player in the logistics business in China and the Pacific Rim through his efforts.
Over the next few weeks we expect to be receiving Memorandums of Understanding (MOUs) and Letters of Intent (LOIs) regarding partnerships and new business relationships as a direct result of our recent trip and through David's involvement in the Region.
We recognize that our endeavors in the Pacific Rim are of great interest to our Shareholders. We will make every effort to keep you apprised of our progress and with the relationships we have initiated.
I also wanted to reiterate our concern about the recent stock symbol change due to a delay in the filing of our Form 10-KSB annual report. Our Company COO, Scott Goodman, had worked vigorously to get the report out on time, but our independent registered public accounting firm advised us about some concerns that went back to when the Company was known as ChampionLyte Holdings, Inc. These are issues that we had no knowledge of and were not within our control. As we reported last week, we are working diligently with our independent registered public accounting firm to resolve those issues and once the 10-KSB is filed, our stock symbol will be changed back to CRGO.
On another note, we at Cargo Connection Logistics recently celebrated our 10th Anniversary in business, and soon, our First Anniversary as a public company. While there have been some bumps in the road, such as soaring fuel prices, we've always prided ourselves on our ability to adapt to changing circumstances. Undoubtedly, we are very excited about the potential for the Company as it expands its horizons Worldwide.
I'd also like to take this opportunity to thank our loyal shareholders for their continued confidence and support.
Jesse Dobrinsky, Chairman
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