OTCQB
CDFT) UP 13% TODAY
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 BDC process perfectly reflects our expansion goals, because our stated objective will be to buy incomes, and pass dividends on to stakeholders. Creating dividends through existing business operations, as a group, we can certainly buy appreciable incomes and flow those dividends back into the Company as retained earnings, and to the stakeholders as cash dividends. The purchase of the $10,000,000 unencumbered, non impaired assets HYPERLINK \l "" has catapulted CDFT from its current business operations. The next step is now to purchase identifiable and verifiable income that can be passed on to the shareholders, which the funding HYPERLINK \l "" from the registration will do for us."
"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.
We have contracted with 2 new companies to continue to increase our web presence in the United States, which should equate to new sales. Search engine optimization is an important ingredient to having a successful website. We just inked a deal with a major web brand that concentrates on business owners HYPERLINK \l "" ."
We are extremely pleased to be chosen to be WooEB.com's exclusive credit card processing provider for their members. WooEB currently has approximately 200,000 members. Citadel EFT's card processing averages $30 per client so this could potentially bring an additional 6 million dollars a month in new merchant account business.
BRAND NEW MILL READY TO CHEW!
Cash-Flow Positive in less than Two Q's
