$CDIX’s last PR could not have made it any clearer their intentions to acquire Acela by their actions taken
Cardiff Lexington Corporation (CDIX) Shores Up Balance Sheet with Capital Infusion; Eliminates Convertible Debts
2019-09-11, 8:45 AM
FT. LAUDERDALE, Fla., Sept. 11, 2019 (GLOBE NEWSWIRE) -- Cardiff Lexington (OTC: CDIX) Cardiff Lexington, a public holding company, today announced that the Company has received $410,000.00 in new funding from the Private Equity Group, Leonite Capital, LLC. The parties entered into a 12-month conventional note. This capital infusion was arranged by the registered Broker Dealer Craft Capital, LLC to stop the current convertible note dilution of Cardiff Lexington common stock and in an attempt to stabilize the share price of the Company.
Cardiff has paid-off three significant convertible notes totaling $379,902 and plans to retire all commercial notes by year end 2019 in concert with acquisition related equity funding. This move consolidates Company debt with essentially two friendly lenders Leonite Capital LLC and Greentree Financial, LLC both of whom have invested prior, are committed to future equity participations, and are aligned and committed to Cardiff Lexington’s future goals and objectives.
Alex Cunningham, CEO/President of Cardiff Lexington, stated: “The elimination of troubling debt conversions from our balance sheet and move to an equity blend of financing should have a positive effect to help strengthen the value of our company and our common share market price. Paying off this currently converting convertible debt, will dramatically ease troubling dilution which has consistently put extreme pressure on our common stock price. Our goal is to continue to reward our shareholders and new investors of Cardiff Lexington by organic growth through an increasing common stock price and expanding our revenue streams through new acquisitions including real estate and companies vertically and horizontally aligned with the CBD Oil Medical Hemp business. ” “These moves combined with our pending potential Acela BioMedical acquisition in my opinion will immediately validate our higher standing within the small cap market segment as we continue to gain national attention of our business strategy as one of the more stable innovative fully reporting Companies in our industry,” further stated Cunningham. About Cardiff Lexington Corporation: Cardiff Lexington 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 targets acquisitions of mature, high growth, niche companies. Cardiff Lexington's strategy identifies and empowers select income-producing middle market private businesses and commercial real estate properties. Cardiff Lexington 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 provides a diversified lower risk to protect and safely enhance their investment by continually adding assets and holdings. Cardiff Lexington 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
Also another stats of interest is the average pps over the last month called VWAP
VWAP is .0055 over past month
20 trading days in a month
So 20 times 111m is 2200 million shares traded at .0055 avg
That’s a staggering $12.1 million dollars of trading volume in the last month on a 382m float
This type of $$$ interest happens for a reason
Float has remained unchanged for last 4 daily updates ever since company announced the settlement of there toxic debt
$CDIX float remains at 382 million after 4 consecutive daily OTC updates, since company said 2019 notes were payed offhttps://t.co/iOPFxpI0Gy
PPS has nowhere to go but up with pending acquisition catalyst and with the absence of conversions to slow it down this time around pic.twitter.com/MVW4nwINac
Looking at the big picture we can see that they paid off the current debt that was preventing them to finalize the Acela Acquisition which would be the only obvious incentive.
The two notes due September 13th are included and when in doubt daily OS updates will reassure you.
Now, Once the deal is closed the pps will be much much higher which in turn means alot less shares hitting the market to service any future debt.