Replies to post #35270 on Citadel EFT Inc (fka CDFT)

[mdimport]

Potential shareholders performing real DD should be concerned about:
- lack of trading activity
- share structure (alphabet soup of Preferred)
- 12,000:1 R/S
- $104 handling fee for Preferred shares
- unknown handling fee for converting Preferred shares to common
- valuation of the villa (doesn't even show up on CDFT's balance sheet as an asset)
- valuation of the Art To Go assets (now in question because of the fraudulent bonds)
- Mr. Riads claim of having 750 "bonds" valued at $1B apiece (3 boxes x 250 bonds)
- Mr. Riad's claim about having a net worth of $43.8B dollars
- Mr. Riad's being on the CDFT BOD
- CDFT's firing of its auditor
- disagreement between the former auditor, MaloneBailey, and CDFT management
- 8-K's and K/A's concerning the worthless paper that MaloneBailey says aren't bonds backed by the full faith and credit of the US.
- the addition of new legal counsel (Rector and Sayid)
- lack of any public comment by the company concerning its S-1 filing
- lack of an announcement by the company as to who its underwriters are
- inability to meet any uplisting requirements
- mis-handling of the $10 payment in lieu of a dividend
- fraudulent intent to the tune of $700M
- conspiracy to defraud
- Mr. DeRoos attempting to front run his shareholders (in additional to the act of fraud)
- management competence

The list can easily be expanded.

Only investors need to worry about how money for preferred share where handled.

[janice shell]

Only investors need to worry about how money for preferred share where handled.

Far from it. That's a matter of concern to FINRA and the SEC as well.