Citadel EFT, Inc. (OTC:CDFT), is based in Oceanside, California and is a company that provides merchants with credit card services and terminals free of charge. With this company there are no contracts, monthly minimums, yearly fees, or no statement fees. For use on internet, the processing is only $5.95. The terminals can be used for transactions via the phone, ecommerce, and at physical locations.
On January 18, 2013, CDFT announced that through the Equity Private Placements for the Convertible Preferred "C" program, the funds from this would be used to buy assets and/or securities to raise income. The CEO feels that just from the profits alone from there business along with an unlikely increase to the business, that would not be enough to issue dividends to its stockholders.
The purpose of raising money is for three purposes. They are to create the dividends as mentioned above, retain the earnings for the company, and for the management fees for the insiders.
CDFT is currently trading at $0.004. Over the course of the last 52 weeks, this stock has seen a low trade of $.001 and a high of $.21. The previous close was for $0.005. This company's market cap is at $1.62M.
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.