Cabal Communications Corporation Announces Corporate Restructure
01 May 2010 - 2:50AM
Marketwired
Cabal Communications Corporation (formerly DealerAdvance, Inc.)
(PINKSHEETS: DLAD) today announced that the company has begun a
corporate restructure and has retained Securities Attorney Noel
Guardia.
Cabal Communications CEO Steven Humphries, in making the
announcement, said, "Due to various issues facing the company
(including the pending name change with FINRA), we wanted to be
sure that we properly represented and are poised properly for
future growth. Mr. Guardia was our SEC counsel when we were a fully
reporting bulletin board company and did an excellent job as he has
over 30 years experience in securities law. Connie Catinchi remains
our General Counsel and will be working with Noel as we begin and
complete our planned restructure process."
The Company also announced today that as a part of the
restruture under Mr. Guardia, the Company has moved its domicile to
Colorado from Nevada. Humphries said, "Colorado is more friendly
towards corporate actions, and Mr. Guardia is also located in
Colorado."
Humphries further commented, "Our next step is to restructure
our Convertible Debt, which has been a great area of concern since
I took over the company nearly five years ago. Our initial
conversation with our debt holders has been positive, and we feel
that we will be able to work out a restructure that will have a
very positive impact on the Company."
This news release contains "forward-looking statements" within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995. When used in this release, words such as "estimate,"
"expect," "anticipate," "projected," "planned," "forecasted" and
similar expressions are intended to identify forward-looking
statements, which are, by their very nature, no guarantees of the
Company's future operational or financial performance, and are
subject to risks and uncertainties. Readers are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date of this release. Due to the risks and
uncertainties, actual events may differ materially from current
expectations. The Company disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Contact: Investor Relations 972.248.2244 Ext. 108
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