Cardiff Lexington Corp (CDIX): they only 358k in assets. How is thi...

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Cardiff Lexington Corp (CDIX)

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Tuesday, 08/20/2019 1:21:05 PM

Tuesday, August 20, 2019 1:21:05 PM

they only 358k in assets.

How is this even possible? https://www.globenewswire.com/news-release/2019/05/14/1823689/0/en/Cardiff-Lexington-Corp-CDIX-Acquires-JMI-Enterprises-1-Inc-DBA-Key-Tax-Group.html

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 $358,000 in current assets. Cardiff Lexington continues to build assets having previously increased Assets from $1.3 to $3.3 million in 2018. Cardiff Lexington expects that the acquisition should result in a 20% increase of Cardiff’s 2019 Revenue on a run rate basis.

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