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Patience is a virtue on this one. This will rise with any type of news.
NEWS OUT!!!
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Press Release: Cardiff Lexington Corp (CDIX) Acquires JMI Enterprises
Cardiff Lexington Corp CDIX Acquires JMI Enterprises 1, Inc. (DBA) Key Tax Group
FT. LAUDERDALE, Fla., May 14, 2019 (GLOBE NEWSWIRE) -- Cardiff Lexington Corporation ( CDIX
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) and JM Enterprises 1, INC. (DBA) Key Tax Group announced today that they signed a definitive purchase agreement under which Key Tax Group has been acquired by Cardiff Lexington Corporation ( CDIX
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) as a wholly owned subsidiary in a stock for stock transaction.
About JM Enterprises 1, INC. (DBA) Key Tax Group
Key Tax Group (https://mytaxlawyer.org/) helps businesses and individuals around the country by solving their tax debt problems. The Key Tax Group team includes tax lawyers, enrolled agents, and support staff with more than 35 years of combined experience. They are subject-matter experts in complicated tax issues and regulations and auditing working hard to find a tax relief solution that's tailored to each unique situation.
The stock purchase will include all business assets of Key Tax Group, including all accounts, trade names, customers, fixed assets, and all intellectual property. The assets will also consist of all twelve team members of Key Tax Group including three attorneys. The total consideration shall be $1,300,000.00; the details of which will appear in Company's 8-K filing. The consideration for the above was financed through a stock for stock acquisition under IRS Section 368(a)1(B) tax free exchange guidelines. There is a 54 month lock up leak out agreement.
Key Tax Group will continue to operate nationally from Jacksonville, FL as a wholly owned subsidiary of Cardiff Lexington ( CDIX
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). "This is the second acquisition for Cardiff Lexington ( CDIX
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) in the Tax Resolution segment," stated Alex H. Cunningham, Cardiff Lexington ( CDIX
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) CEO. "Key Tax Group complements our Platinum Tax Defenders Subsidiary on the West Coast and the synergies will greatly increase coast to coast coverage and customer support for both subsidiaries. This transaction offers both Key Tax Group and Platinum Tax Defenders the opportunity to move up the value chain with customers by offering expanded products and solutions at higher average transaction values and margins. The combination is also expected to allow Cardiff Lexington ( CDIX
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) to utilize both teams to develop new products that could generate additional revenue in the coming years and attract additional acquisitions within the segment.
For the most recent two years, 2017 and 2018, Key Tax Group generated $1.75 Million in average annual revenue and approximately and $276,000 in annual operating profit. The transaction brings Cardiff Lexington ( CDIX
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) $358,000 in current assets. Cardiff Lexington ( CDIX
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) continues to build assets having previously increased Assets from $1.3 to $3.3 million in 2018. Cardiff Lexington ( CDIX
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) expects that the acquisition should result in a 20% increase of Cardiff's 2019 Revenue on a run rate basis.
Commenting on the acquisition, Sherri Gastelum, CEO of Platinum Tax Defenders, stated, "I have known and respected Ron and Kelly and their team at Key Tax Group for quite some time and am excited to enter a business channel partnership that will combine the talent of both organizations and our products to the benefit of our expanded customer base. In addition, the combination of our resources will allow us to release new products that our customers need, further driving the value proposition that we offer."
Kelly Gibson, Founder of Key Tax Group responded: "I have known and respected Sherri Gastelum and watched her build Platinum Tax Defenders into a major tax resolution company on the west coast. My partner Ron Clere and I feel confident in becoming part of Cardiff Lexington ( CDIX
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), allowing us the opportunity to provide superior products and services to new and long-standing customers. We believe the enlarged Financial Services Segment at Cardiff Lexington ( CDIX
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) has a bright future and look forward to working with Alex and the Cardiff Lexington ( CDIX
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) team to ensure the future growth and expansion of Key Tax Group as a Cardiff Lexington ( CDIX
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) subsidiary company."
Cardiff Lexington's ( CDIX
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) business model targets acquisition of middle market private niche companies both mature, and, second stage with high growth potential. The Cardiff Lexington ( CDIX
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) umbrella enables business owners to exit personal equity and to take advantage of the capitalization power of a public company without losing independent management control. Fundamental to the Cardiff Lexington ( CDIX
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) strategy, acquisitions become standalone autonomous subsidiaries gaining advantage of the power of a public company. Owners gain liquidity, diversification, pooled resources, leverage value, and mitigated risk. As a Cardiff Lexington ( CDIX
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) subsidiary these companies gain both the enhanced ability to raise money for operations or expansion while also establishing a longer-term equity exit strategy.
For Investors, Cardiff Lexington ( CDIX
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) seeks to aggressively grow and hold assets that create a diversified lower risk environment that over the long term protects and safely enhances investment through a diversified continually growing niche holding company.
About Cardiff Lexington Corporation ( CDIX
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): Cardiff Lexington ( CDIX
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) is a public holding company, much like a cooperative, leveraging proven management in private companies that become subsidiaries. Our focus is not industry or geographic- specific, but rather proven management, market, and margin. Cardiff Lexington ( CDIX
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) targets acquisitions of mature, high growth, niche companies. Cardiff Lexington's ( CDIX
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) strategy identifies and empowers select income-producing middle market private businesses and commercial real estate properties. Cardiff Lexington ( CDIX
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) provides these companies both 1) the enhanced ability to raise money for operations or expansion, and 2) an equity exit and liquidity strategy for the owner, heirs, and/or Investors. For investors, Cardiff Lexington ( CDIX
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) provides a diversified lower risk to protect and safely enhance their investment by continually adding assets and holdings. Cardiff Lexington ( CDIX
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) is led by strong and talented team of executives and advisors providing expert acquisition, market guidance and added value for subsidiaries and investors.
FORWARD LOOKING STATEMENT: This news release contains forward looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. These risks include the failure to meet schedule or performance requirements of the Company's contracts, the Company's liquidity position, the Company's ability to obtain new contracts, the emergence of competitors with greater financial resources, and the impact of competitive pricing. In the light of these uncertainties the forward-looking events referred to in this release might not occur.
Investors Relations
800-628-2100 ext. 705
investorsrelations@cardifflexington.com
I agree with you. I think this stock will come out with some good news soon. Remember they said they don’t do PR’s on an LOI
Agrees
I wouldn’t be surprised if ASCK employees are buying this so they can put up a fake merger up again and hit yo .15 so they triple their investment. Just a thought.
Agrees
I wouldn’t be surprised if their still involved in this scam.
Thanks, there’s been so much substance with this stock for a year. I just can’t help myself, lol
This stock isn’t going anywhere
I have been on the Wyoming Sec. of State website. I don't see any merger papers filed.
Happy Easter Everyone!
I agree. You were one of a few people here last year warning everyone about this stock and the R/S. I agree this stock has been making PR's that doesn't produce, for years. At this point if this company was for real and wanted to actually build a plant. The only way it's going to do it is with a merger. John is probably in his mid 70's and needs some type of merger to keep the company running. Though I don't believe a merger will occur and this company is just out there to make money from shareholders. Shame, shame, shame! I wish the best to all invested. I was down at one point $17,500 from the R/S and now I'm down about $6,000. Have a Great Holiday!
10-K is out looks good to previous year.
LOL, I agree
Here are all their SEC filings. Look at all 10-K's, the only time they have shown any revenues was for year ending 2014- $3,300. Please correct me if I'm wrong. If they had built any houses they would be shown in revenues. And it wouldn't be just $3,300.
http://google.brand.edgar-online.com/default.aspx?sym=ASCK
As long as this company has been around. I haven't seen them produce 1 concrete panel.
I'm in. Looking forward to see the 10-k. This is going to be a winner.
I have been a shareholder here with this stock for a year and a half. I lost a lot of money due to the reverse split. They have been talking about building this plant over a year now. These guys are also investors they know what they are doing. Make money for themselves. This company has been all talk and no action. I still have many shares here with $ASCK. I hope one day they will build the plant, but I think it's going to take a merger, If this company wants to be known at this point.
This is headed to a penny soon.
Looks like another scam here. Finra isn’t going to approve this symbol change due to RBNW is not pink current and hasn’t been in a while.
Ok thanks
I live in RI on the east coast.
Ok thanks
I saw this tweet yesterday. It's kind of hard to believe that a chinese health care company would merge with $ASCK
The new name on $ASCK on OTCre is chang Ming industrial management group holding $CMIM
6:40 AM - 5 Apr 2019
Chubugalu
?
@PennyStockGuruu
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$CMIM is the company merging in with $ASCK , hit OTC re yesterday and under the radar
6:37 AM - 5 Apr 2019
Does anyone see this tweet about a possible merger?
The new name on $ASCK on OTCre is chang Ming industrial management group holding
6:40 AM - 5 Apr 2019
Chubugalu
?
@PennyStockGuruu
Follow Follow @PennyStockGuruu
More
$CMIM is the company merging in with $ASCK , hit OTC re yesterday and under the radar
6:37 AM - 5 Apr 2019
How come we haven’t seen any architectural plans on this
I just found this on the Wyoming Sec. of State. I don't know if this is the same company.
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DETAIL
Renewable Energy and Power, Inc.
This detail reflects the current data for the filing in the system. Print
Name
Renewable Energy and Power, Inc.
Filing ID
2019-000849504
Type
Profit Corporation - Domestic
Status
Active
Sub Status
Current
Initial Filing
04/03/2019
Standing - Tax
Good
Standing - RA
Good
Standing - Other
Good
Term of Duration
Perpetual
Formed In
Wyoming
Fictitious Name
Principal Office
30 N Gould St Ste R
Sheridan, WY 82801
USA
Mailing Address
30 N Gould St Ste R
Sheridan, WY 82801
USA
Additional Details
Registered Agent:
Registered Agents Inc.
30 N Gould St Ste R
Sheridan, WY 82801 USA
Latest AR/Year
AR Exempt
License Tax Paid
Common Shares
1,000,000
Common Par Value
$0.001
Preferred Shares
0
Preferred Par Value
History
Initial Filing - See Filing ID Date: 04/03/2019
Public Notes
No Public Notes Found...
Parties
(Incorporator)Organization: Registered Agents, Inc.Address: 30 N Gould St Ste R, Sheridan WY 82801
Office Information
2020 Carey Avenue
Suites 600 and 700
Cheyenne, WY 82002-0020
For additional information,
including driving directions,
please see the Contact Us page.
Office Hours
8:00 a.m. to 5:00 p.m. MST
Monday through Friday
(except for official state holidays)
We are now Leaf of Life Holdings. Being in the cannabis market this stock should do well.
We should hopefully get some type of PR from the new company soon.
Something is happening especially with todays volume.
So the new stock symbol is going to be $LOLJ ?
The O/S is very good on this stock only 1 Billion O/S
I actually like this circus show. I'm holding, this will run. Get in while you can.
Am I mistaken it shows it has a 52 week high of $49.50 from 4/8/2018
10-K should be coming out soon.
I agree. Eventually this will make a big run. It has good news to come all over it. I think it got stuck due to flippers. Once that is finished with more updates it will be just a matter of time. By the way those are my favorite sports teams.
This was on their last PR
“This action to reduce the number of issued and outstanding shares and correspondingly increase the company’s trading share price empowers the Company to continue to implement its core strategy of growth through acquisition,” stated Alex Cunningham, Cardiff Lexington’s CEO. “Last year the Company adopted a policy to no longer publicly announce entering into “Letters Of Intent” (LOI’s) to purchase another company; however, Cardiff Lexington is actively engaged in negotiations regarding several acquisitions which should offer higher returns for our investors and meet the required criteria for the Company’s planned uplisting to a major securities exchange. This reverse was critical to Cardiff Lexington’s core mission - continuous acquisitions to create broader diversification and increase overall revenue and profit.”
As much as I hate the way this company has handled their PR's lately and a R/S. Any type of acquisition PR will make this run.