OMAHA, Neb., Oct. 25, 2006 (PRIMEZONE) -- Coastal Technologies, Inc. (Pink Sheets:CTTJ) (the "Company"), a public-traded company, today announced that its Board of Directors has approved a 20 for 1 forward stock split of the Company's common stock. Each shareholder of record at the close of business on October 23, 2006 will receive nineteen (19) additional shares for every outstanding share held as of the date thereof. The payment date for the additional shares will be October 24, 2006 with anticipated mailing to commence October 25, 2006, without any action on the part of shareholders.
The forward stock split will be issued as free trading shares for stockholders who hold free trading shares, and restricted for those stockholders who hold restricted shares, as of the record date of October 23, 2006. All shareholders that have free trading shares in their brokerage accounts will be credited automatically by the transfer agent and those shareholders of restricted shares will have their stock sent to them directly from the transfer agent. The Board of Directors believes this action will increase shareholder value and create more trading liquidity.
Forward-Looking Statements: Investors are cautioned that certain statements contained in this document are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects" and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future Coastal Technologies actions, which may be provided by management, are also forward-looking statements as defined by the act. These statements are not guarantees of future performance.