Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.
Cloud Expo on Google News
SYS-CON.TV
Cloud Expo & Virtualization 2009 East
PLATINUM SPONSORS:
IBM
Smarter Business Solutions Through Dynamic Infrastructure
IBM
Smarter Insights: How the CIO Becomes a Hero Again
Microsoft
Windows Azure
GOLD SPONSORS:
Appsense
Why VDI?
CA
Maximizing the Business Value of Virtualization in Enterprise and Cloud Computing Environments
ExactTarget
Messaging in the Cloud - Email, SMS and Voice
Freedom OSS
Stairway to the Cloud
Sun
Sun's Incubation Platform: Helping Startups Serve the Enterprise
POWER PANELS:
Cloud Computing & Enterprise IT: Cost & Operational Benefits
How and Why is a Flexible IT Infrastructure the Key To the Future?
Click For 2008 West
Event Webcasts
Citadel EFT, Inc. (CDFT) Agrees to Assign Contract of Purchase & Sale of Property in the Dominican Republic

OCEANSIDE, CA -- (Marketwire) -- 01/24/13 -- Citadel EFT, Inc's. (OTCQB: CDFT) CEO Gary DeRoos is pleased to announce that Citadel EFT has agreed to an assignment of a contract of purchase & sale of villa 613, in the Casa Linda development, in Cabarete, Dominican Republic. The villa was the last property for sale in phase 6 in the development, which currently boasts up to a 95% occupancy rate and weekly incomes of $2500 on its 4 bedroom villas. This property is completely built, ready to rent upon completion, and is approximately 10,000 square feet, with 5 bedrooms and 6 bathrooms. This property represents an attractive rental opportunity to Citadel and its shareholders.

The Dominican Republic (DR) is the number one resort destination in the Caribbean, with their Puerto Plata region of the DR, experiencing tremendous growth because of the increased demand for rentals in the area. During peak season the villas are rented for upwards of $10,000 to $12,000 per month, and non-peak seasons, half those numbers.

The Company bought the assignment by agreeing to issue Convertible 'C' Preferred Shares once an appraisal is done on the property. Upon completion, the title will be transferred to Citadel EFT. The original owners of the property were pleased to make the transaction, because of the tax benefits that they would enjoy in earning dividends off the rental incomes, backed by the aforementioned class of securities, and because of Citadel EFT's current financial condition, and its future prospects. One of the two majority shareholders of the company, that bought the villa prior to its build out, Mr. Bash Ahmed, felt that the transaction was more like making an investment in Citadel EFT. He said that the rental opportunity was tremendous, and that there was room to purchase more property in the next phase of Casa Linda's development. This transaction would open the door to even more collaboration to increase Citadel's portfolio.

Gary DeRoos, CEO, of Citadel EFT, further states, "We bought the assignment because there was $200,000USD in equity already in the property, with an additional $30,000USD in improvements that have been already paid by the owners of the contract. There is no debt on the property, no liens of any kind, and the balance owing to pay it off, furnish it and take possession of the title deed is a paltry $75,000USD. We feel the asset, upon an appraisal, will be attractive on the balance sheet and the rental income provides Citadel with a great opportunity to issue dividends immediately when its cash flowing, to the Preferred 'C' shareholders."

He further states, "The location of the development, and the relative stability of the Dominican Republic as a growing getaway vacation spot made this decision easy. The developers, own the property next door, there are over 600 properties in this development at nearly full occupancy, and they manage the rental pool, so that it is turn-key for us. We are not in the business of managing rental properties; we are in the business of buying income without the high cost of transacting for the business.

Management of the Company would disclose the final details of this transaction, pending an appraisal and transfer of the title deed. This property acquisition is going to be an all stock transaction for the contract. But until management knows the true book value of this property, the details of the amount of Convertible Preferred 'C' shares cannot be disclosed until completing the closing of this real-estate transaction. CDFT believes closing will occur in March, 2013.

For more information on the development, CDFT encourage its shareholders to visit the developers' website at www.casalindacity.com. If anyone wishes to view pictures of the finished property, they can email Gary Deroos, directly at citadeleftinc@gmail.com.

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.

FORWARD LOOKING STATEMENT

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.

Add to Digg Bookmark with del.icio.us Add to Newsvine

Contact:
Gary DeRoos
714-423-0701
Email Contact
http://www.credit-card-processing.com

About Marketwired .
Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Cloud Developer Stories
Storage administrators find themselves walking a line between meeting employees’ demands to use public cloud storage services, and their organizations’ need to store information on-premises for security, performance, cost and compliance reasons. However, as file sharing protocols...
What do a firewall and a fortress have in common? They are no longer strong enough to protect the valuables housed inside. Like the walls of an old fortress, the cracks in the firewall are allowing the bad guys to slip in – unannounced and unnoticed. By the time these thieves get...
With the rapid advancement of processor technologies, disk access has been identified as the next performance bottleneck in many cloud computing applications. In recent years, storage appliances based on flash memory technologies have been deemed as practical solutions to resolvi...
In this challenging environment, a combination of automated integration testing and test virtualization can enable test teams to improve software quality and keep up with the rate of change. This white paper helps address these needs by describing the benefits that can be gained ...
Fundamentally, SDN is still mostly about network plumbing. While plumbing may be useful to tinker with, what you can do with your plumbing is far more intriguing. A rigid interpretation of SDN confines it to Layers 2 and 3, and that’s reasonable. But SDN opens opportunities for n...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021



SYS-CON Featured Whitepapers
ADS BY GOOGLE

Breaking Cloud Computing News
delivering unmatched performance, major new graphics capabilities and twice the energy efficiency of...