If the housing market was to turn around, Earth Surfaces of America, a wholly owned subsidiary of Coastal Capital Acquisition Corp. (CCAJ), will flourish. The volume surge late Friday to close off the summer is indicative of trading that is expected to be even heavier when the markets on on Tuesday. Available at a Home Depot and other D.I.Y. outlets and already on track to follow last year’s $1 million plus in revenues, the recently acquired producers of Eco-friendly concrete terrazzo products could catapult CCAJ stock well past its YTD high; 0.015.
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CCAJ Stock Chart
Close: 0.0093, up 0.0018 (24.00%)
Volume: 21,558,787
High: 0.0097
Trades: 337
Average Trade Size: 63,972
Market Cap: 17.67M
Authorized: 2,350,000,000
Outstanding: 1,899,493,800
Float: 208,621,324 a/o May 2, 2012
20 Day Percent Change: 32.86%
20 Day Moving Average: 0.0071
20 Day Average Volume: 2,124,937
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Nearly 4 months ago, Coastal Capital Acquisition Corp. acquired 100% of Earth Surfaces of America, Inc. and subsequently made Anthony “Tony” DiNorcia Chairman and CEO of CCAJ. The guy is an animal considering he was able to keep Earth Surfaces afloat under the difficult economic environment Americans have been suffering under for years now. Without access to the capital markets for financing arrangements, DiNorcia was stuck at a toe-length past $1 million in annual revenues.
When you need a plumber, you call a plumber. When you need a fall guy, you call Harry Lappa. But when you need someone to design, or at the very least provide a product that won’t embarrass you when guest come over, you call Tony.
The offspring of an Italian family of stone fabricators, you would think Tony took paying in the sandbox seriously as his family background is working with natural stone in Italy. While spending his career fabricating natural and fabricated stone countertops, floors, and mosaics, Tony imagined an Eco-friendly product using local materials rather than shipping stone in from around the world. He made it happen creating a product line fabricated from recycled concrete waste and glass.
“Going Green“ could mean portfolio green for traders who spot entry and exit positions correctly on CCAJ stock.
About CCAJ Stock
Coastal Capital Acquisition Corp., a development stage company until April 30, 2012 when Earth Surfaces of America became its wholly owned subsidiary, The Company acquired all of Earth Surfaces’ issued and outstanding stock on April 30, 2012 by issuing 1.35 billion shares for its equity position in Earth Surfaces.
Also, on the acquisition date, a director of Coastal Capital at the date of the acquisition, entered into a Stock Purchase Agreement with the single shareholder of Earth Surfaces for 250 million common shares of Coastal Capital. As a result of these two transactions, the prior owner of Earth Surfaces held approximately 84% of Coastal Capital’s common shares.
Earth Surfaces manufactures Eco-friendly terrazzo and concrete architectural products utilizing sea shells and glass. Among its products are pavers, tiles, counter and table tops, and custom made mosaics.
Bottom Line: Get to know CCAJ and, whether you like sub penny stocks or not, watch it like a hawk on the open Tuesday. If there is no gap up on the open, then forget about watching it, but that’s as likely to happen as Obama single-handedly repairing the damage the housing market has sustained due to the sub-prime mortgage scam.
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