Well, isn't that special... http://www.sec.gov/Ar

Well, isn't that special...

http://www.sec.gov/Archives/edgar/data/147397...20138k.htm

"On November 20, 2013, the Registrant, Citadel EFT Inc., a Nevada corporation (the “Company”) accepted the resignation of one its Board of Director’s, Joseph Edward Riad.   Effective on November 20, 2013, the Board of Directors of Citadel EFT Inc., a Nevada corporation (the "Company"), accepted the resignation from Joseph Riad as a member of the Board of Directors of the Company. Mr. Riad's resignation did not result from any disagreement with the Company or its policies..

On November 12, 2013, the Registrant and the Joseph Riad, nullified the Asset Purchase Agreement dated July 22, 2013, as it relates to five (5) bonds being acquired by the Registrant.   Both parties have agreed to place themselves back in the same position as to prior to the Asset Purchase Agreement dated July 22, 2013.   All of the securities that were to be forwarded to Joseph Riad, shall be forwarded back to the Registrant and all of the bonds that were to be acquired by the Registrant, have been retained by Mr. Riad.

[i]The Registrant was informed by their accounting firm, that the value of the asset is zero and 100% impaired.  The accounting firm stated that until there is evidence that the United States Treasury Department will redeem the bonds, at any value, the value of the asset is zero. The accounting firm stated that this procedure adheres to generally accepted accounting principles. The bonds will be recorded 100% impaired on the Registrant’s Form 10k report since the transaction took place in the last quarter of the Registrant’s fiscal year. In the first quarter audit of the Registrant’s new fiscal year, the transaction will be deleted on the balance sheet completely.[/i]