Citadel EFT, Inc. (CDFT) Announces the Conversion of Its Preferred 'C' & 'D' Shares Outstanding Into Restricted Common Stock
18 Junio 2013 - 11:30AM
Marketwired
Citadel EFT, Inc.'s (OTCQB: CDFTD) CEO Gary DeRoos announces that
all Convertible Preferred 'C' & 'D' stockholders will get their
Preferred Securities converted into 100,000 to 300,000 Restricted
Common Stock to the reconstituted issued capital in Citadel EFT.
Gary DeRoos, CEO, Citadel EFT, states, "Now that the reverse
split is complete, our next objective is to increase our issued
capital, by allowing our Convertible Preferred C & D
stockholders to convert a share, or shares into a predetermined
amount of common stock. We expect to send the list of compiled
stockholders from both classes of preferred stock, up to the
Transfer Agent, before the end of the month, where new common
securities will be issued and mailed out to each stockholder."
Gary DeRoos further states, "After we have completed this
process and reconstituted the issued capital, Citadel EFT will be
filing an S-1 with the US SEC, to register these same common
securities for our stockholders."
Management has provided the conversion of the preferred shares
in to common below:
1 preferred = 100,000 common; $19,500 and below 2 preferred
shares = 200,000 common; $29,999 to $20,000 3 preferred shares =
300,000 common; $39,999 to $30,000
In order to effectuate the conversion, shareholders need to send
their 'C' and/ or 'D' Preferred certificates, with a check made out
to Island stock transfer for $104 to:
Kim Hood Island Stock Transfer 15500 Roosevelt Blvd, Ste. 301
Clearwater, FL 33760
Upon receipt, Island Stock Transfer will issue restricted common
share certificates, reissue the 'C' and/or 'D' Preferred shares and
overnight these certificates. Any certificate sent without payment
will be returned.
FORWARD-LOOKING STATEMENT CDFT cautions that 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 projections in the
forward-looking statements. Forward-looking statements are based on
estimates and opinions of management at the time the statements are
made.
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Contact: Gary DeRoos 714-423-0701
http://www.credit-card-processing.com
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