|By Marketwired .||
|January 18, 2013 11:30 AM EST||
OCEANSIDE, CA -- (Marketwire) -- 01/18/13 -- Citadel EFT, Inc.'s (OTCQB: CDFT) CEO Gary DeRoos announces that any and all funds raised from the Equity Private Placements for the Convertible Preferred 'C' shares go to buy income producing assets and/or securities. Management believes that Citadel EFT's ongoing business operations were providing management a dividend under different Series of the Company's Preferred Stock.
Gary DeRoos, CEO of Citadel EFT, states, "It's unlikely that an increase in the credit card processing business would be enough to issue dividends to the stockholders. Even though the Company's credit card processing business is revenue producing, it would not suffice by itself, to provide those dividends to the stockholders. It is necessary, however, for the shareholders to see some return on the investments they intend to make directly into Citadel EFT, for the 'C' Preferred Shares."
He further states, "We have organically grown our business model and have successfully built revenue to the point that I am collecting a dividend from my Series 'A' Preferred, but in order for Citadel EFT to grow exponentially we want to raise money, with the sole purpose of accomplishing three (3) things:
- Create dividends for the stockholders;
- Retained earnings for the public company; and
- Management fees for the insiders
"To get it done, we have to be committed to buying companies in our space that already earn revenue, or real estate and/or securities that also earn an income. In this way, all of our stockholders benefit. The onus, now, is for the management team to deliver on its initiatives as we commence the Private Placements into Treasury from all interested parties, including our current stockholders and consultants. A US SEC FORM S-1 registration will follow the raise as we move forward to meet our objectives."
Management believes that it's essential to expand the scope of the public company's role, by buying reoccurring value, and this is in-line with CDFT's objective to become a Business Development Corporation.
About Citadel EFT, Inc:
Based in Oceanside, CA, Citadel EFT, Inc., provides credit card merchant account services to retailers, mail order companies and online service providers. The Company provides a free terminal to the business owner and charges no yearly fees, monthly minimums, statement, or address verification fees. Citadel markets its services directly and also through resellers.
FORWARD LOOKING STATEMENT
CDFT cautions that the statements made in this press release constitute forward-looking statements, and not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made.
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
Jul. 27, 2016 12:00 AM EDT Reads: 1,926
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics. In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, discussed using predictive analytics to mon...
Jul. 27, 2016 12:00 AM EDT Reads: 1,990
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
Jul. 26, 2016 11:30 PM EDT Reads: 1,731
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effi...
Jul. 26, 2016 11:00 PM EDT Reads: 1,997
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
Jul. 26, 2016 11:00 PM EDT Reads: 2,563
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 26, 2016 10:45 PM EDT Reads: 1,355
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
Jul. 26, 2016 10:45 PM EDT Reads: 1,086
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 26, 2016 10:30 PM EDT Reads: 1,358
Let’s face it, embracing new storage technologies, capabilities and upgrading to new hardware often adds complexity and increases costs. In his session at 18th Cloud Expo, Seth Oxenhorn, Vice President of Business Development & Alliances at FalconStor, discussed how a truly heterogeneous software-defined storage approach can add value to legacy platforms and heterogeneous environments. The result reduces complexity, significantly lowers cost, and provides IT organizations with improved efficienc...
Jul. 26, 2016 10:15 PM EDT Reads: 1,979
With 15% of enterprises adopting a hybrid IT strategy, you need to set a plan to integrate hybrid cloud throughout your infrastructure. In his session at 18th Cloud Expo, Steven Dreher, Director of Solutions Architecture at Green House Data, discussed how to plan for shifting resource requirements, overcome challenges, and implement hybrid IT alongside your existing data center assets. Highlights included anticipating workload, cost and resource calculations, integrating services on both sides...
Jul. 26, 2016 09:00 PM EDT Reads: 2,031
In his session at @DevOpsSummit at 19th Cloud Expo, Yoseph Reuveni, Director of Software Engineering at Jet.com, will discuss Jet.com's journey into containerizing Microsoft-based technologies like C# and F# into Docker. He will talk about lessons learned and challenges faced, the Mono framework tryout and how they deployed everything into Azure cloud. Yoseph Reuveni is a technology leader with unique experience developing and running high throughput (over 1M tps) distributed systems with extre...
Jul. 26, 2016 08:30 PM EDT Reads: 2,133
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet a...
Jul. 26, 2016 08:00 PM EDT Reads: 317
Big Data engines are powering a lot of service businesses right now. Data is collected from users from wearable technologies, web behaviors, purchase behavior as well as several arbitrary data points we’d never think of. The demand for faster and bigger engines to crunch and serve up the data to services is growing exponentially. You see a LOT of correlation between “Cloud” and “Big Data” but on Big Data and “Hybrid,” where hybrid hosting is the sanest approach to the Big Data Infrastructure pro...
Jul. 26, 2016 07:15 PM EDT Reads: 1,931
In his session at 18th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., and Logan Best, Infrastructure & Network Engineer at Webair, focused on real world deployments of DDoS mitigation strategies in every layer of the network. He gave an overview of methods to prevent these attacks and best practices on how to provide protection in complex cloud platforms. He also outlined what we have found in our experience managing and running thousands of Linux and Unix ...
Jul. 26, 2016 07:00 PM EDT Reads: 1,797
Cloud analytics is dramatically altering business intelligence. Some businesses will capitalize on these promising new technologies and gain key insights that’ll help them gain competitive advantage. And others won’t. Whether you’re a business leader, an IT manager, or an analyst, we want to help you and the people you need to influence with a free copy of “Cloud Analytics for Dummies,” the essential guide to this explosive new space for business intelligence.
Jul. 26, 2016 06:30 PM EDT Reads: 797