From Responsive Research:
I just spoke to Steve Williams and although he was concerned about, what appears to be a negative article released by the Dow Jones Newswire on Monday, he did not feel it was necessary to address it in a press release, but asked me to provider my database with a response.
Stephen E. Williams, Chairman, President and CEO of CFI said, “It is my understanding that the “Going Concern” paragraph, which appears in our Form 10K filing is a Standard Qualifying Statement issued by auditors for companies having recently emerged from bankruptcy or those having a working capital deficiency. We have recently announced a joint venture with Tidalwave Holdings, Inc., which will give us access to numerous mortgage warehouse lines, additionally, we are establishing other mortgage warehouse and credit lines with financial institutions and revenues are increasing substantially within our software subsidiary. To that end, I thoroughly believe that we will survive some recent setbacks attributed to a former executive officer and continue to grow at a pace that will far outdistance other companies that are obliged to incorporate the “Going Concern” paragraph in their SEC filings.” He added, “In speaking with the reporter at Dow Jones Newswires we were told that each and every company that has a “Going Concern” paragraph is written up. We asked her why she didn’t include our $0.17 per share earnings in the article and she said she must have missed that.”
All of the information stated by Mr. Williams has already addressed in previous press releases.
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