Citadel EFT

February 18, 2014 12:45 ET

Citadel EFT, Inc. (CDFT) Comments on Filed Form 8-K

OCEANSIDE, CA--(Marketwired - Feb 18, 2014) - Citadel EFT, Inc. (OTCQB: CDFT) management commented today on its Form 8-K filed with the United States Securities and Exchange Commission.

The filing of the Form 8K was primarily due to management's joint venture agreement with Carbon Development, Inc. Prior to the date of the Agreement, Carbon Development, Inc. had no material interaction with CDFT, other than the negotiation of the Agreement. For a more detailed description of the Agreement, please review the Agreement in their entirety, which is attached hereto and marked Exhibit 10.1.

Gary DeRoos, President of CDFT stated, "We already have in place platforms to positively monetize the $500 million USD. We have initiated talks with a business consultant who is in direct contact with the largest shareholder of a growing India bank with over several hundred branches and several plus billions (USD) on cash deposit. The bank is 'A1++ Rated.' This will give us major clout with the Bank to expand our business model. Also, our team is looking to leverage these monies to bring positive cash flow through trading through highly experienced traders. Our team here is extremely pleased that these platforms will produce the synergy needed to produce positive results for the Company and shareholders."

Having recently signed the agreement, the Company continues its positive progress in executing its strategy for the greatest potential for shareholder return by accelerating CDFT's growth plans. Management is excited to lead the Company and its shareholders into the future.

About Citadel EFT, Inc:

Citadel EFT, Inc. has been helping companies for over 20 years establish a merchant account for credit card processing. Citadel has no monthly fee and no minimums for our credit card service. As a merchant of ours, you can process credit cards like Visa, MasterCard, Discover, American Express, EBT, Checks and ATM Cards, Citadel ships your credit card machine, free of charge.


CDFT cautions that statements made in the press release constitute forward-looking statements, and not guarantees of future performance, and the 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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