Capital Financial Global Inc (CFGX)

[Huggy Bear]

Furthermore, in a February 4, 2016 press release, the Company announced the following:

“CFGX continues to hold approximately $5.1 million in face amount of notes receivable that Gold
Rush Refiners had issued prior to January of 2014, before it was acquired by Paul Norat and
renamed Quantum Refiners. CFGX acquired these notes in March of 2014 in arm's length
transactions in consideration of the issuance of about 1.7 million shares of preferred stock. These
notes were written down to $1.7 million based on concerns respecting the collectability of the
notes in CFGX's September 30, 2015 financial statements. CFGX now believes the notes are
uncollectable and is attempting to resolve adverse impacts on the company by addressing the
previous issuance of the preferred stock.”

As a result, the Company impaired the note receivable to $0.00 and recognized a book loss of
$2,072,429.39. In parallel, the Company is actively seeking to cancel all the shares of its Series B Preferred
Stock that were issued to acquire the Gold Rush creditor claims. Accordingly, during the time that
recovery of the stock is ongoing, the following accounting adjustments were made to the Company’s
financial statements: “Note Receivable” in the amount of $1,701,200 was impaired to $0.00, along with
any associated accrued interest and offsetting provisions; “provisions for loan losses” were expensed in
the amount of $2,072,429.39. It is anticipated that compensating adjustments will be made to the
amount of shares of Series B Preferred Stock that is outstanding resulting from the return and
cancellation of preferred stock as the mitigation effort progresses. [qoute]

http://www.otcmarkets.com/financialReportViewer?symbol=CFGX&id=160878

In parallel, the Company is actively seeking to cancel all the shares of its Series B Preferred
Stock that were issued to acquire the Gold Rush creditor claims.

Yeah, I am sure Norat is actively seeking to erase all connections with Joel Natario, and to deflect attention away from himself.

Does not exonerate the bogus Doc Watson claims, Ralph W. Thompson and Noble Kings, Laman Milner, though.

Nice try, always claim to be the victim too when found knee deep in the hoopla with a bunch of scammers.