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You crack me up buddy...you think the lawyer here chooses what the company does and determines there status hahahah...wow now that is far fetched. I'm pretty sure any lawyer is willing to work for a company who intends to pay them. What a company does with their filings is there business and just because he is associated with those companies means absolutely nothing. I can't even believe this was brought up. Filings determine whether a company is current or not and if the company decides not to file, then obviously no attorney letter is provided; hence, why companies have stop signs.
I actually have a question for you though....Do you have any interest in this company? By this, I mean do you own any shares. Just curious?
GLTA We are all very lucky to be in this situation and we have so much to look forward to. CDFT is doing amazing things.
My apologies, I must have missed this one...Regardless of if they have problems or not. This is a serious problem because it alters the amount of cash shown...Inaccurate filings are a serious issue and if the SEC or FINRA were to see this IMO "stupid" error, there could be significant consequences. I personally don't know how you make that issue when both net income lines are not far apart. Any inaccuracies, should not be looked with the wave of hand....they should be looked at with serious caution. Because of this error, it looks like they actually made money when in fact they did not...and because of this if you then subtract the operating activities form this amount you get an inflated cash on hand number wish is wrong. I'm sorry but to me this is a serious issue and why I have chose not to invest here.
GLTA and I hope you all make money. This is my opinion.
Thought Shawn was starting to clean his act up but this is a major step in the wrong direction and before when I was seeing the news I was hoping things were going to get better as that's how it was looking, but it doesn't seem that way. Seems like he is up to his same old ways...Who knows maybe ASHER will appear on the Q or K next. Ridiculous
Obvious Shorting and panic selling. IMO will bounce well off the .005.
The current price is irrelevant because what we are going through is an SPO which will be underwritten. Similar to an IPO where their is an offer price....The offer price will be a minimum of 2.50 a share. The current price does not matter once again.
First off, I appreciate all the responses I have received and like I said, just questioning what I see and throwing in some theories.
I've looked though many quarters and annuals of this company and I do see good and bad.
As I mentioned I made a mistake and the A/S did not increase. Most companies don't report their authorized as commons+preferred and they are usually split up so that authorized would be 742 mill and preferred would be 8 million. I corrected this a few messages ago.
Because of the mistake to their net income, the company actually lost a good amount of money which when added with their operating activity would have added further losses and therefore would have theoretically if the annual was corrected had less cash on hand at the end of their annual and at the beginning of the period for the March Q.
There are two sub section for Internet and Computers and Cables and Internet....I mentioned this with the amounts in a few messages before with the link to the filing I was looking at.
Personally I think the meal and entertainment expense regardless of it it was a shareholder "gathering" shouldn't have been posted as a business expense unless all shareholders were invited otherwise it is a personal meeting and not a meeting for shareholders thus a different expense altogether. Plus there is no proof that you were with the CEO..If you have proof I will redact my statement and I don't think that the CEO should be using the company money to be paying for people food and drinks....I work for a fortune 500 company and they don't pay for that stuff....I pay for my lunch everyday which at a minimum is 6 dollars. The average around 7 dollars. Plus every little expense adds up no matter if it was a penny a day. that's still 3 dollars and 65 cents out of the companies pocket a year of potential income and revenue.
Also if the CEO is taking deferred salary which is admirable, why would you call it a consulting fee? Why not just have a line item under payroll and wages with "deferred comp"....I know many companies that do it exactly like this....to me this is interesting.
While I will agree their top line does look good, their bottom line is where the issues rely and what ultimately hurts the shareholders the most...there expenses and operating activities are specifically what hurt them and cause them to lose money as of now.
Like I have mentioned before, this is all my opinion and just the DD I have been doing. Now who knows, I may be completely wrong.
Citadel EFT, Inc. (CDFT) Retains Legal Services of William B. Goode to Commence US SEC Stockholders' Registration Statement Marketwire "Press Releases"
OCEANSIDE, CA -- (Marketwired) -- 08/02/13 -- Citadel EFT, Inc.'s (OTCQB: CDFT) CEO Gary DeRoos announces that Citadel EFT, Inc. signed a legal retainer agreement with Mr. William B. Goode to commence action on the US SEC Company's "Registration Statement." Mr. Goode has already done extensive due diligence on CDFT, and he will be drafting, as well as filing, the Form S-1 with the US SEC.
Gary DeRoos states, "The Form S-1 'Registration Statement' is important to commence and complete, so as to reconstitute the share float, and meet minimum distribution requirements to be listed on the NYSE Alternext Exchange, formerly the American Stock Exchange . Mr. Goode has extensive experience drafting and filing these documents with the US SEC."
CDFT's management looks to be very active in this registration process and to be working closely with Mr. Goode throughout this forthcoming Form S-1 filing.
FORWARD-LOOKING STATEMENT
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.
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Contact: Gary DeRoos 714-423-0701 http://www.credit-card-processing.com
Source: Citadel EFT
Couldn't agree more with you. I thi k Gary is making sure all his t's are crossed and i's are dotted before putting any information which is the way to do it.
He is making sure what gets put out is actually worth something to the company.
I think we're very good here!
Look at that. Fully paid off and new subsidiary. Boom baby. Gary doing work!!!!
My mistake on the A/S I didn't see what they did and how they provided the info on there documents....a little confusing but you are right on that. Relax man.....I'm not trying to do anything but just posting facts and I know what I'm talking about but you don't have to believe me if you don't want to.
By the way:
These line items HAVE TO BE the same....verify if you want but like I said I know what I'm talking about. Don't believe but you can verify it by looking at the quarterly report above this annual report in the same annual filing....time for me to head to bed.
GLTA Have a great day tomorrow!
All in my opinion.
I am just posing the questions....like i mentioned, I'm not here to bash these are just things I noticed through reading the financials and just wrote down some theories...you could be absolutely right....I think this is something that should be a little bit more specifically written as otherwise it looks slightly suspicious.
Well I will post screenshots if you don't believe me...the A/S was raised by 8 million according to the financial documents submitted to the SEC this recent quarter. That's marginal. Furthermore, there is an error in the Annual with the A/S stating 750 mill and then stating below 742 Mill....maybe I made errors...no one is perfect but this is what I see and I do financial analysis not for penny stocks so I'm used to looking at a lot more complex filings then this so maybe I overlooked a simple thing that I'm used to digging and dissecting....it happens. Honestly my biggest concern is the falsified net income number on the Annual and the continued negative cash flow.
I do financial analysis and some of these business errors look a lot less then business errors or typos to me. I don't see where I made some errors so far, I'm actually right now just questions some things I find suspicious and wanted to see if anyone could answer the questions...I find some things though very concerning. IMO
Computer and Internet Expenses: 9,088.31
Total Cables and Internet: 2,920.02
--Two Different Charges for Internet? Don't understand?
--Also could you show me where the consulting fees are mentioned as his deferred comp? I just want to confirm it?
Thanks,
Doc F
Hey everyone....BRAV has been on my radar for a while so I decided to have a look and do some in depth DD on this company. I found some very interesting things in the most recent filings all the way back to the Annuals that I would like to point out and see what you all think...
First of all, I noticed that within the last month (June 30-July 31) the A/s was increased by 8 million. Now what I am happy about is that this is such a marginally increase that it doesn't matter. Most penny stocks increase by 10s if not 100s of millions of shares a quarter. I also want to commend the CEO on literally erasing almost all the liabilities of this company. Like the stock structures typical penny stocks have enormous liability concerns.
However!!! With these commendations comes quite a few concerns especially regarding the February Annual, March Q and the most recent Q out a few days ago. With regard to the February Annual, my immediate concern turns to page 19 and 20 where we have a net income line stating ~-193K. However, on page 20 we have a net income line stating positive ~165K. THAT is a major difference and because of that, it makes the company look like it actually has cash on hand. Now I went ahead and did some math and came to the conclusion that the company should have lost a significant amount of money of there "cash at beginning of period". This is very concerning as when these get filed, they are certified to be correct or knowingly correct. Now given the benefit of the doubt, it could be an honest mistake, but to have that big of a difference on the very bottom of the page and the very top of the page.....not likely. I think this was done purposefully in order to try and show that the company actually had more cash on hand and did not have to "finance activity" when in reality the exact opposite I believe occurred.
Secondly, in the annual we have a minor error in the authorized versus what is given down below in the summary of the classes of stock which is where it is showing 742 million versus 750 million above....minor...yes. Typo....most likely and wouldn't be concerned about.
Now to sum up the other quarters mentioned above, I find some interesting expenses mentioned in the Cash Flow, Balance Sheet and income statement. Now some of the charges that concern me are the auto charges....from what it seems like either the company or someone from the company is charging a car they bought or "rented" which is how they classify it and billing it to the company along with the gas used as well as auto insurance. While these are all marginal expenses...THEY ADD UP. Not only that but the insurance rate for the "auto" seems to vary indicating an unusual and suspicious expense.
Furthermore, we have some Internet and computer charges. While every company nowadays is required to have this it should be nothing out of the ordinary; however, when I look down below I notice a second charge for "cables and internet". Is there some sort of double charge? Could someone from the company be charging personal internet use for their home or other residence as a business expense?
Typical penny stocks, classify "consulting fees" as "promoters or investor awareness". Now there may be cases where this is not true and I do acknowledge that. Usually though, when a company reports on a statement for a consulting fee such as legal, the consulting fee falls under the legal expense header. However, in the annual we have a 170K consulting fee with no specific "home". Along with the annual, we have consulting fees for 35K and 17K respectfully for March Q and July Q. Neither of these of have "homes". So what could these be?
Meals and entertainment....do these employees get free lunch and concerts while at work? If so....send me an application because that would classify as an awesome perk. But in all seriousness...why is meal and entertainment such a big expense compared to some of the smaller things? Are we paying for the CEO's food everyday? I work, and I pay for my food everyday.
Overall to sum up....I see some good things the CEO has done, but some very very questionable things as well. The company continues with regards to the Annual that needs to be fixed ASAP, to generate a negative cash flow and if this continues, will have to finance the activity through authorizing additional shares and diluting the market causing a likely decrease in the pps. The other item that concerns me is the slow down in revenue from quarter to quarter (Feb-July). Now I see in the notes that we had a store close and we had a website altered or changed. Now I wonder if the store closing was in regards to a disagreement in rent rate or the inability to continue payment based upon the facts above with decreasing cash on hand and consistent negative cash flow? Who knows? I think this company has many things it needs to disclose before it become a viable investment as there are many things left open and that are very suspicious. I think we need transparency and we need to have each specific line item explained instead of just Other or consulting fees, because those are what scare me and lead me to have thoughts of the "typical penny stock". Now who knows, I may be completely wrong, but this is my background and this is part of what I do on a daily basis.
This is all my opinion and just based on the recent scanner hits I have been receiving....thought I would dive into it and do some in depth research. Take what it is for what it is or don't take it at all. I wish the best to everyone and hope everyone makes tons of money. GLTA with BRAV
Couldn't agree more. There are many things in this company that clearly separate from the "typical" otc stock.
Hey digi, when does the next Q come out....Is it mid-August?
Things look great here as always....NHYT holding very strong which will translate into a very explosive next length up. Easily see dime's here. If though the price is going down the chart shows increasing accumulation and the RSI is almost fully reset. Higher highs and higher lows coming.
Chart: NHYT Daily Chart
Citadel EFT, Inc. (CDFT) Announces Credit Card Processing Contract With Three Franchised Bar Louie America Restaurants Doing Over $8,000,000 in Annual Revenues Marketwire "Press Releases"
OCEANSIDE, CA -- (Marketwired) -- 08/01/13 -- Citadel EFT, Inc.'s (OTCQB: CDFT) CEO Gary DeRoos , today announces that Citadel EFT has just signed major credit card processing contracts with three Bar Louie America Restaurants . These three franchised restaurants, located in Illinois , doing in excess of $8,000,000 in annual revenues collectively, with the great majority of their customer transactions credit card based.
Calvin Moore , of Citadel's Credit Card Business Development states, "We have been working for some time now, to project Citadel EFT's credit card processing business to larger customers, because of the savings, and also because, Citadel, the public company, is maturing into a much larger company. It's been a pleasure to work with Nathan Leininger , the owner of the three Bar Louie Restaurants . His due diligence process was thorough and he knew what he was likely to save as a result of using our services."
CDFT's management team looks forward to building this relationship and working with Mr. Leininger .
FORWARD-LOOKING STATEMENT: 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.
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Contact: Gary DeRoos 714-423-0701 http://www.credit-card-processing.com
Source: Citadel EFT
Both you and Digi are exactly correct...couldn't have said it better myself.
GLTA
Exactly!!! Just because a PR wasn't released doesn't means something wasn't filed. For instance, when big board companies release earnings, they report an earnings summary and then give and earnings call but the actual filing doesn't come out for a few days.
Those who are patient, calm and understand what is happening via through pr's and CC's will be rewarded graciously imo.
Everything Gary has said he has done...my guess is this next Q is maybe what there waiting for which i believe is due shortly if I can recall. I think he wants to show everyone who doesn't believe what is truly happening behind the scenes....my guess is the quietness that has been going on, should be taken as a good thing. To many OTC companies release pr after pr trying to generate buzz and raise their share price. Gary is not trying to do that...he is being meticulous with how things are done.
GLTA
INO Chart
Here is the reason for the decline end of day...looks like profit taking after yesterday's huge rise and then this morning and early afternoon's huge rise. I believe this stock has so much going for it and I love this stock...I sold earlier this week and I wish I hadn't I'm looking to take a bigger position for longer term where I can continue to add. I really do like what there doing here and I believe they have a very marketable product. In my opinion, this my channel trade for the next day or so in order for the chart to cool off and reset which would allow an even bigger run, but I'm not discounting the fact that this could run again tomorrow strongly...just thought everyone would be interested in a chart.
GLTA
In my opinion, if we test the .03 marker and break that with good volume, we could see a run to .05 before additional resistance although if this happens it would be best for this to consolidate in the 3 and 4 range before moving up to the next leg. Just my friendly opinion. I think tomorrow we will see a lot of volume along with a lot of people buying on the ask.
I have a hunch that we see something either tomorrow or Friday...there is just to much going on along with the fact that something was supposed to be done this month, which i don't doubt. The matter is, I think it gets pr'd and we see a super 8k regarding this either this week or early next week.
NHYT to da moon
GLTA
Ill guarantee with all the shares I own. I'm that confident. If you can provide evidence to the contrary I will sign my shares over to you.
There is the exact opposite of dilution occurring. The CEO is protecting his company as well as the shareholders via common stock and preferred stock reductions. Nothing but a great company here. Financials are sound. Filings are in order. Prs look great. App looks great. I see a very bright future here and for all shareholders regardless of whether I had or had not owned stock. To much great stuff happening.
I see nothing wrong. So maybe we didn't get a pr. Doesn't mean there wasn't a registration. We could see a pr any moment. I think everyone in this stock who got preferreds is extremely lucky and I think they have nothing to worry about.
Everything the company has said, they have done!!
GLTA
Hey guys just got in here at .0120 for a bit. Mostly playing this for the chart but imo looks ready to explode. Looks like it bottomed out early this week or last week and based upon the accumulation rsi and other indicators its on the bounce.
GLTA....let's make some money.
I have an honest question for you.....you say you never intended to buy the stock yet you sit here and scold all of us like we haven't researched this into oblivion. My question for you is did you already have a motive when you entered this board because other then that why would you waste your time posting here and not posting on stocks you see as viable investments. Just curious how you think?
I like to see how others analyze a situation and am very interested how this came across your radar as well. If you wouldn't mind sharing.
IMO NHYT is very strong especially with the 8K this morning which tells me they don't need as much financing as they orginally intended based on the decreased preferred structuring. I honestly think we have made a new base up in the 5s and we have held very strongly here for many many days....I think we have a lot to look forward to and to be honest everytime we have gotten news, there has not been a massive sell off. So once again if you could share your thoughts on your analysis and how you come to that conclusion I would appreciate it as I am interested.
This is all imo....thanks
No volume.... Just want to make sure we are looking at the correct ticker. In the last 45 minutes I see 250K at a minimum of shares that have been traded and were green up 6.34%. Another very good day here I see.
It looks to me as if the mm's are trying to keep this below .06. If you notice all the blocks are at .059 and below....it seems that any .06 break is the point at which that causes them to cover. Lot of action on the ask....this is imo of course
GLTA
The kicker is that last paragraph. By buying in the open market you can clearly see the company is not pumping and dumping the stock and that Money Runners is do this on there own. They may be pumping this but this is truly not a pump and dump hence why there is an argument on this board. Now everyone is entitled to there opinion and this is just mine.
GLTA
I have to agree with you. Based on all my due diligence via financial statement analysis as well as thoroughly look into to his background and the past of the company. I would say we have a CEO who understands the common malpractices of CEOs in penny stocks and does not want to be included in that group. Based on my research I am very comfortable investing with this company and I feel we have a unique enough product that will expose us to a multitude of potential revenue lines.
Luckydog, I have read a lot of your posts and I have an honest question for you.
Don't all stocks trade on hype and speculation. Isn't that the point of trading before news and what allows stocks to go up and down. That is the hype and speculation on a stock, so when you say this I don't understand what your trying to convey other then it seems like you may have lost money here. I don't understand what your beef is but this is just my imo....all trading is based on irrational thought usually persuaded by hype or ones belief of speculated "things" and I say that with a broad terminology. IMO everything is great and dandy...the CEO is doing great....the app is awesome and the CEO continues to keep us up to date with current filings and vital information as well as a specific email now for investor questions.
I think all is great here imo.
Isn't the registration supposed to be filed in two days. That is what they said in the pr's I do believe as well as the conference call. I am really excited to see the filing...that will be a great day.
Man this stock just keeps making me happier and more excited for what's in the works. Super 8K should be out this week and that will be huge...I've been long in here for a little while and decided to join so I could voice my own opinion. Been reading this board for weeks and love all the great DD on this board....clearly not a pump and dump.
What I really thought was amazing was today's close. WE closed green even after all the sell pressure and then we had 5 mm's move from bid price to bid price all following each other. Seems to me there are some shorts that are really hurting here.
Otcshortreports.com confirms the high number of shares shorted if anyone is curious in checking that out.