csjj news today Retires 2 Billion Shares

[hexges]

Thursday March 10, 04:33 PM
Coastal Holdings, Inc. Retires 2 Billion Shares to Treasury

HOUSTON, March 10, 2005 (PRIMEZONE) -- Coastal Holdings, Inc. (Pink Sheets:CSJJ), a leading edge global technology holding company, announced today that it has retired 2 billion shares to the Company's treasury, thereby reducing the total number of issued and outstanding shares. The restricted shares were originally issued to fund one of the Company's major investments in lieu of cash. CSJJ is pleased to report that it has accumulated the required cash to fund the investment and has financed the transaction as such in place of the original restricted shares. CEO Andrea Cortellazzi stated, "The retiring of these restricted shares is definitely a positive development for the company that will add significant shareholder value. We are pleased to report that over the past 2 months we have retired about 3.6 billion shares."

For more information please contact CEO Andrea Cortellazzi at [phone] or visit the Company website at www.coastalholdings.com.

Forward-Looking Statements

Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.

[Warren]

This is good news and has also had an affect on CDVJ as well.

I look for both of these companies to do well in the up coming months.

[ToddCT]

2b out of what?

if they have only a few bi this is big, but if they are like CMKX and have in the hundreds then its just about meaningless.

T

[Warren]

They have been retiring shares. This is just the latest amount. They have anounced in a PR. no R/S. They have been working at becoming a fully reporting company. They have been auditing. They intend to file and possably move to a higher exchange. These are things that have happend in the last 5 or 6 months.

2 billion more shares being retired is a good thing. It coincides that they are still moving in the right direction.

[Warren]

I have been going through my records. I will try to get an updated share structure on this company. If I do I will post on a new thread. If some one can beat me to it please do so. No offenses will be taking.