SOURCE: Citadel EFT

Citadel EFT

October 05, 2011 08:45 ET

Citadel EFT Inc. (CDFT) Board of Directors Approves Up to $400,000 Stock Buyback per Fiscal Year

TUSTIN, CA--(Marketwire - Oct 5, 2011) - Citadel EFT, Inc. (OTCQB: CDFT) (PINKSHEETS: CDFT), a fully reporting US SEC Registered Company, which offers U.S. merchants credit card terminals and online, mail order and retail credit card processing services, announces today that the board of directors has approved a stock buyback of up to $400,000 for every fiscal year.

Gary DeRoos, Chairman/CEO of Citadel EFT, says, "This buyback should give our existing and future shareholders a strong signal that our Board of Directors believes our shares are undervalued." DeRoos also says, "As a whole, the board believes the Company's stock is lower than CDFT's business 'intrinsic value' -- the present worth of the cash that will be generate in the future."

About Citadel EFT Inc.

Based in Oceanside, CA, Citadel EFT Inc. provides credit card merchant account services to retailers. 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. Citadel EFT Inc gives a $200 referral fee for each approved account. To learn more about Citadel EFT Inc. please visit its website: http://www.citadelbankcard.com

Forward-Looking Statements
This press release may contain certain forward-looking statements regarding future circumstances. These forward-looking statements are based upon the Company's current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statements are material. For more information please visit http://www.sec.gov.

Contact Information

  • Contact
    Gary DeRoos
    (CEO)
    Phone: 714-730-8143
    Email Email Contact