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CFGX Capital Financial Global Inc (CE)

0.0001
0.00 (0.00%)
24 Jan 2025 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Capital Financial Global Inc (CE) USOTC:CFGX OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.0001 0.00 00:00:00

Capital Financial Global Completes Acquisition of Distressed Refinery Debt

18/03/2014 10:00am

PR Newswire (US)


Capital Financial Global (CE) (USOTC:CFGX)
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SALT LAKE CITY, March 18, 2014 /PRNewswire/ -- Capital Financial Global, Inc. (OTC Pink: CFGX), announced today that it has successfully completed the acquisition of $5.1 million dollars of debt in Gold Rush Refiners, LLC, a distressed Georgia based gold and precious metals refinery. The debt was acquired in exchange for $1.7 million dollars' worth of the Company's Series B Preferred Stock.

"Now that we've acquired the debt, our plan is to re-age it and structure a work-out that will allow the refinery to cash flow and get back on its feet," said Mr. Paul Edward Norat, CEO of Capital Financial Global, Inc. "The folks at Gold Rush Refiners have a great business model and a talented team of professionals.  As we work with them to structure a realistic re-payment plan, we believe they will be able to bounce back and regain profitability and competitiveness.  The end goal, of course, is to receive the long-term incoming cash flow that the restructured loans will provide us, once they become performing."

Disclosures can be found on the Company's online disclosure portal at: http://www.otcmarkets.com/stock/CFGX/filings

More information about Gold Rush Refiners, LLC can be found by visiting their website at: http://www.goldrushrefiners.com/

About Capital Financial Global, Inc.

Capital Financial Global, Inc. (CFGX) is a specialty finance company that offers asset-backed financing and loan advisory services to insurance trusts & pension funds, owners of commercial real estate, owners of residential real estate portfolios, and owners of mining & precious metals assets.

Our Market Positioning & Differentiation

Unlike traditional banking models, CFGX offers organizations needed liquidity by using an asset-backed approach rather than a traditional credit approach to originating new loans, buying and selling existing loans, and converting distressed collateral into cash or trade-able form.

Our Revenue Model

We seek revenue from loan fees, interest rate spreads on loans we hold, and margins on loans sold in whole or in part to institutional investors, hedge funds, or other secondary market participants.  We also seek revenue by charging loan servicing fees and by selling distressed assets that we acquire for our own investment or through some type of foreclosure.

Forward-looking statements:         

Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.

For more information please contact:

Capital Financial Global, Inc.
Investor Relations
Tel: 888-801-9715
Email: ir@capfiglobal.com
www.capfiglobal.com

Twitter: @CFGX
Facebook: "Capital Financial Global, Inc. Ticker: CFGX"

SOURCE Capital Financial Global, Inc.

Copyright 2014 PR Newswire

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