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OTCQB:(CDFT) NEWS ANY DAY PLUSE Q Gary DeRoos, CE

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Post# of 102737
Posted On: 01/04/2013 7:39:11 AM
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Posted By: WARMBUFFETT

OTCQBCDFT) NEWS ANY DAY PLUSE Q


Gary DeRoos, CEO, states, "The addition of Dennis Radcliffe to the Board of Directors is part of Citadel EFT's overall objective to pursue an uplifting onto the American Stock Exchange-AMEX. To date we are debt free, don't have a going concern, and now have purchased assets that the Company can book as equity on its balance sheet. Adding a new Board member makes sense in light of the size of the transaction, and it further helps the Company to meet its obligation to expand its business interests beyond its current operations."


Management will continue to pursue asset purchase agreement, or forward acquisition of profitable business entities thorough a due diligence review process, this should ensure that the stockholders get full value in equity on these potential business considerations.


"The beauties of utilizing SBLOC's are they are non-recourse lines of credit. They are based on the equity, not a person's credit worthiness; you can have horrible credit and still apply. There is no where that I know of that gives you this rate with no credit checks," DeRoos says.


With Citadel EFT having SBLOC access, and once CDFT is listed on the AMEX, the Company will be reaching out to USA and foreign based companies that want to grow their business, without the high interest rate loan banks


Gary DeRoos, CEO, stated "A company that trades on the OTC BB or Pinksheets has very little credibility in the eyes of investors. As management of a real and legitimate company, a definitive decision has been made to do what is necessary to qualify for a listing on the AMEX. The requirement to make application to the AMEX is quite reachable as shown above. There has been more accomplished in the last 30 days then in the entire life of the company."


DeRoos continued, "With the amount of shareholder net equity that will now be reflected in the company's next audited annual financial report we will be well above the requirement of net shareholder equity; opening the opportunity to qualify very easily under Standard 2 or Standard 3. As it stands the only requirements needed revolve around share price and market value of the public float. I am confident that these requirements will be accomplished in the near future.




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