CRGO - Strong Buy $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Revenues for year ended December 31, 2007: $17,212,765
Revenues for year ended December 31, 2006: $17,927,544
Revenues for year ended December 31, 2005: $14,661,851
From the latest 10k: (period ending 12/31/06, filed 4/04/06)
Revenues generated from the operations
of Cargo Connection Logistics Corp. for the twelve months ended December 31,
2006, were $17,897,214 compared with $13,372,129 for the twelve months ended
December 31, 2005. The majority of the $4,525,085 increase in revenue was
generated from trucking operations. This represents a 34% increase for the same
twelve month period comparing 2006 versus 2005. This increase in Cargo
Connection Logistics Corp.'s revenue was due to (a) an increase in core service
offerings associated with client acceptance of those offerings, (b) expansion in
the New York marketplace which included additional local pick up and delivery
services and (c) the addition of the General Order warehouse operation at JFK
that began in June, 2006. The Company has also continued to expand its customer
base so as not to be as reliant on a few key customers as it had in the past.
REVENUES FOR YEAR ENDED DECEMBER 31, 2005: $14,661,851
REVENUES FOR YEAR ENDED DECEMBER 31, 2006: $17,927,544
Company Business:
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 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 world's
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.
Investment Highlights:
* ChampionLyte Holdings acquired Cargo Connection Logistics Corp. and Mid-Coast Management
* 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.
* Seasoned management team with the president guiding CRGO from it's infancy.
* The two companies have a total of 87 full-time employees.
Company Profile:
Cargo Connection Logistics Corp. is a transportation logistics provider based in Inwood, NY.
Cargo Connection is engaged primarily in hauling truckload and less-than-truckload (LTL)
shipments of general commodities in both interstate and intrastate commerce. Cargo Connection
operates a domestic and an international logistics operation for all classifications of freight.
The movement of this cargo is accomplished through a network of company drivers and owner-operators
that provide needed resources for the book of business and the operational skill to maintain their
customer base. Cargo Connection provides the back office operation for the companies, allowing
them to focus on the business itself while Cargo Connection deals with the insurance, financial
and regulatory portions of the business.
In addition to its truck operation, Cargo Connection is in the warehouse and distribution movement
of dry goods from its inbound locations at Atlanta, GA; Bensenville, IL; Columbus, OH; Inwood, NY
and Miami, FL to points throughout the United States. These operations enhance the appeal to
entrepreneurial agents mainly because it provides built-in backhauls from primary markets for
their truck operations.
Cargo Connection provides carriers with, amongst a host of other aspects of air carrier handling,
electronic messaging, customer service, surface transportation, ULD control, and collection of
monies.
In the Chicago area, Cargo Connection operates a US Customs Bonded Container Freight Station in
Bensenville, IL. It is a 92,000 sq. ft. facility that also operates as the Midwest trucking
center.
In New York, the USA headquarters, Cargo Connection operates a 105,000-sq. ft. US Customs Bonded
Container Freight Station. At this location, Cargo Connection provides the build-up and breakdown
of air cargo for airlines and freight forwarders. At one time Cargo Connection's largest airline
partner in New York was El-Al Israel Airlines. Cargo Connection provided off Airport pallet
building services for them.
In the southeast Cargo Connection operates a 27,520 sq. ft. US Customs Bonded Container Freight
Station just off the Hartsfield-Jackson International Airport in Atlanta and a 36,000 sq. ft. US
Customs Bonded Container Freight Station in Miami near Miami International Airport. Both operations
serve as trucking operations for the region as well.
In Columbus, Ohio, Cargo Connection currently operates a 52,000 sq. ft. US Customs Bonded Container
Freight Station and trucking operation.
Currently Cargo Connection has a fleet of approximately twenty 5000 pound Yale, Toyota and Komatsu
Forklifts. Most of these trucks is leased with full maintenance agreements to ensure that the
company is never left without the proper equipment. In addition, in those locations where it
handles ULD's for the airlines, Cargo Connection has 15,000 lb. capacity trucks so the loaded
ULD's can be moved efficiently.
Company Services:
air Expedited Trucking Service
A well organized controlled truck service to provide scheduled service for all Airlines from
gateway to door or door to gateway. In most cases packages picked up or delivered to any station
in their system will be delivered to any of their other stations by the following day.
Ocean and Railhead Pickups
A well developed service designed around an air and expedited service to give the company's
customers the advantages of shipping air while paying for ocean service. This service is available
for full containers or LCL from either the railheads or the ocean ports.
Expedited Trucking
Through the use of the company's own equipment, as well a great brokerage department, the company
is able to provide dedicated and dependable service to or from any point in North America,
including Canada and Mexico.
Container Freight station Operations
Through the company's CFS they are able to receive international shipments (air or ocean) and
de-containerize them before they clear United States Customs, while providing different levels
of warehouse and distribution services. This service is currently available in JFK (New York),
CMH (Columbus), MIA (Miami), ORD (Chicago) and ATL (Atlanta).
Break-Bulk distribution Service
Each of the company's terminals are able to receive large shipments or trailer loads to be broken
down and re-shipped to multiple destinations, either cleared or inbond.
Additional Services Provided:
* LTL service from airport to airport (LTL = less-than-truckload)
* LTL service from airport to door
* LTL service from door to airport
* truck load service to anywhere in north america
* specialized equipment (flatbeds, dropdecks, rollerbeds, etc)
* next day service to most destinations
* 24 hour a day, 7 day a week availability
* accurate computerized tracking & tracing
* electronic data interchange (edi) capabilities
* local customer service departments
* knowledgeable courteous customer service agents
* flexible billing options
* low claim ratio
* container freight station operations
* intermodel department for both lcl and full ocean containers.
* high value cargo insurance available
Management:
Jesse Dobrinsky - President and CEO
Jesse was born in 1956. He was raised and educated in New York. Jesse has been
an entrepreneur all of his life. While working his way through college, Jesse
worked as an assistant pharmacist and an assistant manager for Edison Brothers
Shoes. In mid-1978 he and an associate opened a retail stereo shop called Sounds
Incredible. They grew this business until the sales volume was in excess of one
(1) million dollars per year. In 1981, Jesse was enticed into a family
restaurant business where he spent the next year building up the business.
In 1982, Jesse was given the opportunity to open a sales agency for a group of
Midwestern meat haulers. This company was called Coast Dispatch, Inc. It was
started in a small office in Manhattan and its focus was to sell westbound
freight from the Northeastern portion of the United States. As this business
grew, the customers began to inquire about trucks to haul freight throughout the
country. In early 1983 Coast Dispatch, Inc. became an irregular route common
carrier. Over the next twelve years Coast Dispatch, Inc. grew to over 40 company
trucks and ten million dollars in sales.
In 1995 Landstar Inway approached Jesse and asked him to open an Air-Freight
Division for the Landstar group. This division was called Cargo Connection
Logistics. With Jesse at the helm the company grew from less then three million
dollars in sales in 1996 to over five million dollars in sales in 1997. In late
1997, Landstar Inway was directed to refocus on their core business and to
disband any business that was not related to that core business. In 1997, Cargo
Connection Logistics became a non-owned division of ARL and in 1998, did in
excess of eight million dollars in sales. In 1999 the sales volume exceeded
twelve million dollars and Cargo Connection Logistics became the largest
non-owned division of ARL.
Scott Goodman - COO and CFO
Scott was born in 1959. He attended schools in New York and Massachusetts. Scott
holds a Bachelor of Science Degree in Business Administration with a major in
accounting from Northeastern University. He also obtained his MBA from Adelphi
University with majors in International Business and Corporate Finance.
Scott began his career with Norman Goldstein Associates where his primary duties
were as Controller for NGA and as Director of Operations for its subsidiary
company, E & N Plastics. It was at this company that Scott began to travel the
world. In 1983, Scott joined M. Blumenthal Graphics, a New York City printing
house, as Controller and later as Director of Operations.
In 1988, Scott went to work for Lafayette Precision Products. As Controller and
Director of Purchasing, Scott was responsible for overseeing and managing the
installation and implementation of a new computer system. In addition, he was
very involved with developing new procedures for purchasing, inventory control
and financial reporting. When Reichel & Drews bought the company and ultimately
moved the operation to their headquarters in Itasca, IL in 1990, Scott went to
work for Landes Marketing. At Landes Marketing Scott held dual positions as
their Vice President and General Manager. He joined them in order to restructure
their financial debt and reduce costs after heavy losses were sustained by the
Landes family. Landes was a leader in the marketing and distribution of
silver-plated tabletop and giftware. It was in this position that Scott began to
develop a deeper understanding of the import business. One of the vendors Scott
became intimate with was Ben Forman & Sons. In 1992, when Landes Marketing was
being sold, Scott went to work for Ben Forman & Sons where he was responsible
for the financial area of the multi-million dollar manufacturing company. He was
also responsible for the company's related real-estate ventures.
In 1995 Scott Goodman met Jesse Dobrinsky. In late 1995 he went to work for
Coast Dispatch, Inc. as its CFO. In 1996 Scott joined Jesse Dobrinsky at Cargo
Connection Logistics, where they went to work for Landstar Inway.
With Jesse Dobrinsky as President, Scott joined the team as Executive Vice
President. The company grew from less than three million dollars in sales in
1996 to over five million in sales in 1997. In late 1997, Landstar Inway was
directed to refocus on their core business and to disband any business that was
not related to that main business focus. In 1997 Cargo Connection Logistics
became a non-owned division of ARL and in 1998 had sales volumes in excess of
eight million dollars. In 1999 the sales volume exceeded twelve million dollars
and Cargo Connection Logistics became the largest non-owned division of ARL.
John Udell - VP
John was born in 1955. He was raised and educated in New York. John has had an
entrepreneurial spirit his whole life. While working his way through college,
John had many jobs. In 1976, before completing his education, John was called
home from school to help save the family business. Later that year, John became
the Director of the Finishing Division for AMPCO Printing Company.
It became John's responsibility to make sure that jobs were finished properly
and shipped out in a timely manner. While performing this job it became clear to
John that there was a need for and ultimately an opportunity for a trucking
company that could provide expedited service for the printing industry. He took
this concept to a friend and in 1982, Jesse Dobrinsky and John Udell formed a
company called Coast Dispatch, Inc.
John soon found himself intrigued by the growth and opportunity at Coast
Dispatch, Inc. He soon decided to make it his full time career. Over the next 12
years John was very instrumental in the development and growth of Coast
Dispatch, Inc. In 1996, when Jesse departed from the company, John became its
President and began to lead the company into a rebuilding process. It was his
dream to build a regional trucking company that would focus on the New York
Tri-State Area. In 1996, after bringing the company through a major overhaul,
the investors chose to shut down the company. During that last year John had
managed to reduce the debts of Coast Dispatch, Inc. from just over two million
dollars to less than fifty thousand dollars. John spent the balance of the year
closing Coast Dispatch, Inc. and selling off the assets of the company.
In mid-1997, John joined Cargo Connection Logistics as its Director of Container
Freight Station Operations. In that capacity, John managed the two main CFS
operations in New York and Chicago. John also headed up both the Safety &
Compliance and Driver Recruitment Departments.
Recent Press: http://finance.yahoo.com/q?s=CRGO.OB
http://www.cargocon.com/headlines.html
http://studio-5.financialcontent.com/emsnow?Page=QUOTE
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