OCEANSIDE, CA--(Marketwired - Dec 3, 2013) - Citadel EFT, Inc. (OTCQB: CDFT) provides detailed instructions for those shareholders in possession of restricted certificates.
Shareholders who converted their Preferred 'C' and 'D' shares to CDFT's Class 'A' common shares in June 2013 are soon to be eligible, after hold the restricted common shares, to have the restriction removed for full free tradability. Under US SEC Rule-144, the holder of restricted shares can petition for restricted legend removal after a 6-month holding period.
As holders of these restricted certificates, shareholders must have held these certificates at least 6 months from the published date on the front of the certificate. Next, you will need to obtain a 'Legal Opinion Letter' from legal counsel of the company, or any SEC authorized legal counsel. Thirdly, you will need to fill out the Seller's Representation Letter available at http://www.goodrate.net/islandguide.pdf and/or http://www.goodrate.net/shareholderrep.docx. Lastly, a check payable to Citadel EFT, Inc. for $500.00 is needed to effectuate this conversion from restricted shares to clean freely traded certificate.
Make copies of all your paperwork; send the originals and your $500.00 check to:
Citadel EFT, Inc.
825 College Blvd, Ste. 102-328
Oceanside, CA 92057
Since CDFT is a fully reporting OTCQB listed company, make sure your brokerage firm will accept CDFT's certificates. Shareholders may want to look into Wilson-Davis in UT or Scottsdale Capital in AZ as reference brokers who take deposits of OTCQB listed Company shares.
Do not contact the transfer agent. If you do, they will refer you back to CDFT.
In conclusion, send:
1. A check made payable to Citadel EFT Inc. in the amount of $500
2. Your signed sellers representation letter
3. Your original stock certificate
4. Your mailing instructions (no P.O. boxes-your certificate will be overnight via FedEx)
Management appreciates its shareholders support and as soon as possible the Company will return these legend free certificates back to all shareholders who follow the aforementioned instructions.
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.