SOURCE: Swordfish Financial, Inc.

January 31, 2011 08:00 ET

Swordfish Financial, Inc. Update: Recent Recovery Efforts Net More Than Anticipated

ROCKWALL, TX--(Marketwire - January 31, 2011) - Swordfish Financial, Inc. (PINKSHEETS: SWRF), a Minnesota Corporation, announces recent progress in the recovery of assets.

Swordfish Financial, Inc. (SWRF) representatives have been in SE Asia for the past few weeks taking inventory of certain Peace through Water (PTW) donated assets in preparation for their deposit into financial institutions worldwide. In addition to the cash and precious metals that were seen during the November 2010 trip, SWRF took possession of two sets of original documents regarding assets not disclosed until now. One set is the original documents evidencing a cash deposit (by the original PTW donor) into the Bank of China (BOC). The file on this deposit includes all the historical and bank deposit documents to support the transaction. This account has recently been donated to PTW and assigned to Swordfish for collection.

The second set of documents is the original agreement between the Unites States Government and the Chinese Government detailing a vast network of cash and precious metal deposit. This file appears to be the road map to numerous deposits by the original donor which were approved by and authorized by the two countries. These accounts have also been assigned to SWRF for collection.

SWRF CEO Mike Alexander has completed the initial meetings with representatives of the Bank of China exploring the requirements to establish an SWRF account for depositing some of the recovered assets. At that meeting Mr. Alexander presented the original documents for review by the bankers in addition to documents evidencing the cash deposit and support documents from USA and China governments. Copies of the deposit documents were requested and provided. The BOC representatives have begun the investigation into the current condition and location of the deposits. SWRF will begin its investigation and authentication of the USA/China document in the next few weeks. Once the USA/China Documents have been cleared by the DOD, they will be posted on the SWRF web site for review.

SWRF and PTW management expect to return to the USA in the next 10 days.

For video of pictures taken during SWRF's last trip please go to: http://www.swordfishfinancial.com/SWRFHKv5.wmv

About Swordfish Financial, Inc. Swordfish Financial, Inc. is located in Rockwall, Texas and is a Financial Asset recovery and diversified Holdings Corporation, which was formed to locate, recover, originate, fund and source fund for asset-based transactions in the private market. Our funding will enable our businesses to compete more effectively, improve operations and increase shareholder value. Swordfish Financial, Inc. is headquartered in Rockwall, TX, a suburb of Dallas. For more information, please visit us at http://www.swordfishfinancial.com.

Forward-Looking Statements:
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.

Contact Information

  • For Media and PR inquiries, please contact:
    Investor Relations
    Email Contact