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Corporate Report: November 23

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  • | 7:31 a.m. November 23, 2012
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Coastal Capital, Earth Surfaces CEO accuses investor of pump and dump
Anthony DiNorcia, Coastal Capital Acquisition Corp. and Naples-based Earth Surfaces of America Inc., has issued a letter to shareholders attributing recent stock fluctuations to a rogue investor's pump-and-dump scheme.

The letter says that following the company's agreement to transfer stock for Earth Surfaces of America Inc. to become a subsidiary, Coastal Capital Acquisition was approached by George Lambro. He agreed to purchase up to $600,000 in stock if the deal went through.

DiNorcia says in July, Lambro and his associates then used their convertible notes and related accrued interest to acquire 385 million shares.

“We understand that Lambro paid others to promote our stock and was responsible for the large trading volume,” the letter states. “We also believe that he and a group that he put together began to dump on the market, in a disorganized fashion, a significant number of shares that they controlled resulting in the significant reduction in stock prices. Lambro may be continuing to dump shares further depressing the stock price.”

DiNorcia's letter says he now believes Lambro never intended to fund the company and that instead the goal was to provide the group time to dump the stock.

The company is reportedly evaluating if it has legal or regulatory actions it can take against Lambro.

Green Innovations Ltd. stock goes public
Cape Coral-based Green Innovations Ltd. has become a publicly traded company. The company's shares recently began trading on the OTC Bulletin Board and the OTCQB markets under the symbol GNIN.

Green Innovations Ltd., through its wholly owned subsidiary Green Hygienics Inc., is the exclusive North American distributor of 100% tree-free bamboo-based products from American Hygienics Corp. Those bamboo pulp-based products include toilet paper, cosmetic wipes and pads, facial tissues, a variety of paper, meat platters, baby diapers and feminine-care items.

“As the world continues to trend away from tree-based products in favor of products with smaller carbon footprints, consumers are becoming more educated about the greener alternatives that are available to them in the marketplace and are consequently demanding higher standards for these products,” Bruce Harmon, CEO of Green Innovations, says in a press release.

Steele Development's Hand-ee-Cleat launched at boat shows
Cape Coral-based Steele Development Group Inc. has debuted the marine product Hand-ee-Cleat at the Newport International and Fort Lauderdale International boat shows. Hand-ee-Cleat is a portable handhold and cleat that can temporarily connect to virtually any wood, steel, concrete or PVC dock object.

It is common for ports to have a lack of cleats, broken cleats or no cleats in the right direction. Hand-ee-Cleat allows boaters to put a temporary cleat any place it's needed without causing damage.

The Hand-ee-Cleat is constructed of glass-filled nylon. According to the company, its testing shows that two Hand-ee-Cleats will secure a typical 30- to 40-foot boat in up to 30 mph winds.

GFI Software's VIPRE Business addresses mobile devices
Clearwater-based GFI Software has launched a new edition of its VIPRE Business software, designed to provide small and medium-sized businesses with a single product for antivirus, patch management and mobile device management.

The newest version of VIPRE Business Premium addresses a number of security challenges, including vulnerabilities in third-party software products, which according to the GFI Malware Response Team, account for up to 75% of malware and virus infections that compromise networks.
VIPRE's new patch management feature in the premium version automatically finds and applies updates to out-of-date software. It also displays the status of Windows Updates on each computer, and can turn on Windows Updates to keep the operating system fully up-to-date.

VIPRE Business allows administrators to centrally manage antivirus protection for PCs, Macs and Android devices as well as mobile security for iPhones, iPads and Android smart phones and tablets. The premium version also includes integrated patch management, a firewall, a malicious website blocker and an anti-phishing filter.

FreightCenter starts hiring for move to new HQ
FreightCenter Inc. owner James Brosious plans to expand and relocate his company to a new office in northern Pinellas County beginning in 2013. The freight service provider will relocate its Trinity-based operations to a larger corporate park in the Highland Lakes area of Palm Harbor. The move is expected to triple the firm's office space and allow the company to add another 60 new employees.

The company has already started taking resumes.

“We are outgrowing our current location in Pasco and the new office space will accommodate our existing staff, as well as make room for dozens of new account managers,” FreightCenter HR Manager Tiffany Brown, says in a press release.

Founded in 1998, FreightCenter is a third-party freight and logistics company.


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