INWOOD, N.Y. -- Cargo Connection Logistics Holding, Inc. (OTCBB: CRGO) formerly ChampionLyte Holdings, Inc. (OTCBB: CPLY), today announced it has filed its Form 10-QSB. As a result of this filing the "e" symbol was removed from its stock symbol by the Over-the-Counter Bulletin Board effective June 14, 2005.
ChampionLyte Holdings recently acquired Cargo Connection Logistics Corp. and Mid-Coast Management as part of an all stock acquisition. The name of the company was changed to Cargo Connection Logistics Holding, Inc. to better reflect its strategic initiative and objectives as a pure play transportation/logistics company. The two New York-based transportation/logistics companies, which were previously privately-held, had combined 2004 revenues of $18 million and are currently on a run-rate of more than $20 million for 2005.
Cargo Connection Logistics Corp. and Mid-Coast Management, Inc. which are both based in Inwood, NY also have 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 87 full-time employees. Cargo Connection was originally developed as an agency for industry leader, Landstar System Inc. (NASDAQ: LSTR).
About Cargo Connection Logistics Corp/Mid-Coast Management
Cargo Connection Logistics Corp. is a leader in world trade logistics. Headquartered adjacent to JFK International Airport, the company is a transportation logistics provider for shipments importing into and exporting out of the United States, especially through the Gateways of Chicago, Illinois, JFK, New York, Miami, Florida or Atlanta, Georgia with service areas throughout the Unites States and North America. Mid-Coast Management is a container freight station specifically designed to handle internationally arriving freight for Mast Industries the major supplier to Limited Brands -- one of the worlds' largest multi-brand specialty retailers -- as well as many other significant fashion brands. Since its inception Mid-Coast Management, Inc. has developed relationships with many other retailers and works with Freight Forwarders from around the world.
Additional information about Cargo Connection can be obtained at its website www.cargocon.com
The Private Securities Litigation Reform Act 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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Cargo Connection Logistics Holding, Inc. Files 10-QSB
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