ROCKWALL, TX--(Marketwire - Dec 21, 2012) - Swordfish Financial, Inc. (OTCQB: SWRF), a Minnesota corporation, announced this afternoon that a special meeting of shareholders was held earlier today via teleconference pursuant to applicable state law. Attending were a majority of shareholders holding a majority of the voting stock in the company. The shareholders unanimously voted to elect Clark Ortiz and Randy Moseley as new directors of the company. In addition the shareholders voted to remove John Berner as a director of the company, effectively immediately.
Immediately following the shareholders' meeting, a special meeting of the Swordfish Board of Directors was held by a prearranged teleconference. A quorum of directors voted to remove John Berner as the chief executive officer. In his place, Clark Ortiz was elected as chairman of the board of directors and was voted to serve as the new president and chief executive officer of the company. The board also voted to appoint Randy Moseley, CPA, as the interim chief financial officer until a new CFO can be hired and confirmed by the board at its next regular meeting in 2013.
The board determined that these changes in management were necessary to promote prudent corporate governance and were in the best interest of the shareholders of the company.
About Swordfish Financial, Inc.
Swordfish Financial, Inc. (SFI) is a publicly held diversified financial asset recovery company formed to acquire dormant and orphaned assets. SFI's main products will be to acquire and provide funding for organizations in the currently underserved humanitarian and eco-friendly markets. SFI provides economical and efficient use of capital while providing a valuable opportunity of loans to and or investment in small and medium sized organizations by providing asset based funding against marketable "income producing and/or marginable" assets. Our funding will enable our organizations to compete more effectively, improve operations and increase shareholder value.
This document contains forward-looking statements and information as that term is defined in the Private Securities Litigation Reform Act of 1995, and, therefore, is subject to certain risks and uncertainties. There can be no assurance that the actual results, business conditions, business developments, losses and contingencies and local and foreign factors will not differ materially from those suggested in the forward looking statements as a result of various factors, including market conditions, competition, advances in technology and other factors.