SOURCE: Citadel EFT

Citadel EFT

February 19, 2013 09:00 ET

Citadel EFT, Inc.'s (CDFT) CEO Gary DeRoos Meeting With NYSE Alternext Directors a Success

OCEANSIDE, CA--(Marketwire - Feb 19, 2013) - Citadel EFT, Inc's. (OTCQB: CDFT) CEO Gary DeRoos reports that the meeting with the Equity Sales Managing Directors of the NYSE Alternext, formerly the AMEX, was an unqualified success. Citadel EFT is going to make the transition to the NYSE Alternext because it affords the company and its shareholders so many advantages.

CDFT provided below a short summary of the specific NYSE Alternext Advantages for investors

Specialist: The Company chooses the Specialist that will act as its long term partner, providing the best possible execution and price discovery. Specialists are superior to Market Makers who have no obligation to the Company, and can short the stock at any time, therefore causing trading imbalances and volatility.

Increase US Shareholder Ownership: Institutions and Retail Investors, who represent the majority of total equity investment in the US, will only buy US listed SEC registered equities. The company, therefore, has the opportunity to significantly increase US investor demand for its securities beyond direct investment by US international funds in the home market.

Real Time Market Intelligence: Specialists will make a point of proactively providing intelligence on forces affecting the trading of the stock, breaking down trading into institutional, arbitrage and retail categories, which Market Makers do not perform. They are in regular contact with their listings, giving those companies greater knowledge and control of their trading profiles. 

Gary DeRoos, CEO of Citadel EFT, says, "These are huge advantages for Citadel EFT and its shareholders, which we could never hope to replicate on the OTCQB. Could you imagine speaking to a 'Market Maker' about the market forces affecting the trading patterns? Not possible! We are more than ever committed to addressing the overhaul of the issued capital, which we believe will affect the price of the security, once the Convertible Preferred 'C' placement is complete. These are the only impediments to an up-listing. The NYSE Alternext Directors, also indicated that based on a cursory look at Citadel EFT, it was not a question of if we would be up- listed, but when we choose to do so."

He further states, "The timing of the transition is, at present, a function of stock price and market capitalization. We will now begin discussions with our board, and expand the audit committee to prepare for the next phase of corporate governance decisions. I believe the current share price will start to reflect our overall strategy, and the changes we make to facilitate the increase to shareholder value, will support the efforts of our loyal shareholder base. We will also continue to add value to the balance sheet, as the company is committed to buying income producing equity, and enhancing its core business exponentially. We have now turned the corner with the successful filing of the US SEC FORM 10-Q and successful meeting with the NYSE Alternext. Now is not the time to sit on our laurels; we have much work to do before the next quarter."

All current stockholders will be invited to participate in these discussions as Management starts to put together a timeline for the transition onto the NYSE Altenext Exchange. 

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 http://www.credit-card-processing.com.

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.

Contact Information

  • Contact:
    Gary DeRoos
    714-423-0701