Citadel EFT Inc (fka CDFT)

[mdimport]

CDfT is/was an ATM for Mr. DeRoos. He would receive about 90% of the credit card revenues generated day quarter in the form of Preferred A dividends. Shareholders would get diluted.

What does CDFT do again?

That all worked until Mr. DeRoos got greedy: reverse split his shareholders 12,000:1, asked them for a $104 fee for the Preferred certificate, another $500 to covert back, tried to front load the market with a falsely inflated balance sheet using $700M fake bonds, committed multiple securities violations with respect to the "dividend", and a host of other violations.

For now Mr. DeRoos is unable to front load his shareholders and they're stuck with essentially valueless Preferred (yet to see if the re-converted Common are ever depositable and tradable).

Ironically, this Mexican standoff situation may turn out to be the best thing for CDFT shareholders in the long run. Mr. DeRoos is going to have to prove CDFT is more than just a sham to make himself wealthy at everyone else's expense.