From the Wires
Citadel EFT, Inc. (CDFT) Offers Convertible Preferred 'C' Shares to Its Common Shareholders
By: Marketwired .
Jan. 17, 2013 09:00 PM
OCEANSIDE, CA -- (Marketwire) -- 01/17/13 -- Citadel EFT, Inc.'s (OTCQB: CDFT) CEO Gary DeRoos announces that Citadel EFT will be making the Convertible Preferred 'C' Shares available for sale to its common shareholders through a Private Placement Memorandum. This is in keeping with Citadel EFT's stated objective to register its securities with the SEC.
Gary DeRoos, CEO, states, "We realize that the common share price of the security does not reflect the value of the company at present, and this has been particularly frustrating for our stockholders of the common stock. So, in order to mitigate some of the risk and losses that our common stockholders have experienced, we thought it best, to provide them with our Convertible 'C' Preferred Shares. These securities have anti-dilution privileges, and convertibility features that are designed specifically to help the shareholder. It is our objective to create an income capability with this class of security as we have done for the Preferred 'A', and extend it to our stockholders in this class. Naturally, the common shareholders can call us for further information and clarity on the issue, should they participate."
About Citadel EFT, Inc.:
Based in Oceanside, CA, Citadel EFT, Inc., provides credit card merchant account services to retailers, mail order companies and online service providers. The Company provides a free terminal to the business owner and charges no yearly fees, monthly minimums, statement, or address verification fees. Citadel markets its services directly and also through resellers.
CDFT cautions that the statements made in this press release constitute forward-looking statements, and not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made.
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