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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Capital Financial Holdings Inc (CE) | USOTC:CPFH | 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% | 1.11 | 0.00 | 01:00:00 |
CAPITAL FINANCIAL HOLDINGS, INC.
|
(Exact
name of registrant as specified in its charter)
|
North
Dakota
|
45-0404061
|
(State
or other jurisdiction
|
(I.R.S.
Employer
|
of
incorporation or organization)
|
Identification
No.)
|
1821
Burdick Expressway W
|
Minot,
North Dakota 58701
|
(Address
of principal executive offices) (Zip code)
|
(701)
837-9600
|
(Registrant's
telephone number, including area code)
|
Large
accelerated filer
|
☐
|
|
Accelerated
filer
|
☐
|
Non-accelerated
filer
|
☐
|
|
Smaller
reporting company
|
☒
|
PART
I
FINANCIAL
INFORMATION
|
Page
#
|
|
|
|
|
Item
1.
Financial
Statements
|
3
|
|
|
|
|
Unaudited
Condensed Consolidated Balance Sheets -
September 30, 2017
and December 31, 2016
|
3
|
|
|
|
|
Unaudited
Condensed Consolidated Statements of Operations -
Three
Months Ended September 30, 2017 and 2016
|
5
|
|
|
|
|
Unaudited
Condensed Consolidated Statements of Operations -
Nine
Months Ended September 30, 2017 and 2016
|
6
|
|
|
|
|
Unaudited
Condensed Consolidated Statements of Cash Flows -
Nine
Months Ended September 30, 2017 and 2016
|
7
|
|
|
|
|
Notes
to Unaudited Condensed Consolidated Financial
Statements
|
8
|
|
|
|
|
Item
2.
Management's
Discussion and Analysis of Financial Condition and Results of
Operations
|
18
|
|
|
|
|
Item
3.
Quantitative and
Qualitative Disclosures About Market Risk
|
22
|
|
|
|
|
Item
4.
Controls and
Procedures
|
22
|
|
|
|
|
PART
II
OTHER
INFORMATION
|
|
|
|
|
|
Item
1.
Legal
Proceedings
|
23
|
|
|
|
|
Item
1A.
Risk
Factors
|
23
|
|
|
|
|
Item
2.
Unregistered Sales
of Equity Securities and Use of Proceeds
|
23
|
|
|
|
|
Item
3.
Defaults Upon
Senior Securities
|
23
|
|
|
|
|
Item
4.
Removed and
Reserved
|
23
|
|
|
|
|
Item
5.
Other
Information
|
23
|
|
|
|
|
Item
6.
Exhibits
|
23
|
|
|
|
|
SIGNATURES
|
24
|
|
(Unaudited)
|
|
|
September 30,
|
December 31,
|
|
2017
|
2016
|
|
|
|
CURRENT LIABILITIES
|
|
|
Accounts
payable
|
$
257,066
|
$
292,987
|
Commissions
payable
|
1,764,537
|
2,027,962
|
Income
taxes payable
|
8,857
|
10,187
|
Other
current liabilities
|
113,699
|
12,962
|
Current
liabilities of discontinued operations
|
-
|
7,434
|
Total
current liabilities
|
$
2,144,159
|
$
2,351,532
|
|
|
|
NON CURRENT LIABILITIES
|
|
|
Non
current liabilities of discontinued operations
|
-
|
2,907
|
Building
mortgage
|
675,000
|
475,000
|
Total
noncurrent liabilities
|
675,000
|
477,907
|
TOTAL LIABILITIES
|
$
2,819,159
|
$
2,829,439
|
|
|
|
STOCKHOLDERS' EQUITY
|
|
|
Series
A preferred stock – 5,000,000 shares authorized, $.0001 par
value;
|
|
|
3,050,000
and 3,050,000 shares issued and 0 outstanding,
respectively
|
$
305
|
$
305
|
Additional
paid in capital – series A preferred stock
|
1,524,695
|
1,524,695
|
Common
stock – 1,000,000,000 shares authorized, $.0001 par
value;
|
|
|
|
|
|
1,241
and 1,241 shares issued and outstanding, respectively
|
1,241
|
1,241
|
Additional
paid in capital – common stock
|
10,221,515
|
10,221,515
|
Accumulated
deficit
|
(8,385,892
)
|
(8,322,211
)
|
Less
Treasury stock, 3,050,000 preferred shares at $0.4262
|
(1,300,000
)
|
(1,300,000
)
|
TOTAL STOCKHOLDERS’ EQUITY
|
$
2,061,864
|
$
2,125,545
|
|
|
|
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
|
$
4,881,023
|
$
4,954,984
|
SUPPLEMENTAL
SCHEDULE OF NONCASH
|
|
|
INVESTING
AND FINANCING ACTIVITIES:
|
|
|
Cash paid for
interest on building mortgage
|
8,453
|
-
|
|
Number of
Options
|
Weighted Average
Exercise Price per Share
|
Weighted Average
Grant Date Fair Value
|
Aggregate
Intrinsic
Value
|
Outstanding on
January 1, 2016
|
207
|
$
8,692
|
$
4,435
|
$
-
|
Granted
|
-
|
-
|
-
|
|
Exercised
|
-
|
-
|
-
|
|
Canceled
|
(39
)
|
-
|
-
|
|
Outstanding on
December 31, 2016
|
168
|
$
5,000
|
$
3,844
|
$
-
|
Granted
|
-
|
-
|
-
|
|
Exercised
|
-
|
-
|
-
|
|
Canceled
|
(1
)
|
-
|
-
|
|
Outstanding on
September 30, 2017
|
167
|
$
4,538
|
$
4,190
|
$
-
|
|
Three Months
Ended September 30, 2017
|
Three Months
Ended September 30, 2016
|
||||
|
Numerator
|
Denominator
|
Per Share
Amount
|
Numerator
|
Denominator
|
Per Share
Amount
|
Net (Loss) Income
of continuing operations
|
$
48,634
|
|
|
65,534
|
|
|
Less: Preferred
Stock Dividends
|
|
|
|
|
|
|
Income of
Continuing Operations Available to Common Shareholders –
Basic and diluted Earnings per Share
|
$
48,634
|
1,241
|
39
|
65,534
|
1,241
|
$
53
|
|
Nine Months
Ended September 30, 2017
|
Nine Months
Ended September 30, 2016
|
||||
|
Numerator
|
Denominator
|
Per Share
Amount
|
Numerator
|
Denominator
|
Per Share
Amount
|
Net (Loss) Income
of continuing operations
|
$
(41,366
)
|
|
|
(31,232
)
|
|
|
Less: Preferred
Stock Dividends
|
|
|
|
|
|
|
Income of
Continuing Operations Available to Common Shareholders –
Basic and diluted Earnings per Share
|
$
(41,366
)
|
1,241
|
(33
)
|
(31,232
)
|
1,241
|
$
(25
)
|
|
Holding
|
Broker-Dealer
|
|
As
of, and for the three months ended:
|
Company
|
Services
|
Total
|
|
|
|
|
September 30, 2017
|
|
|
|
Commissions
and fee income
|
-
|
3,645,683
|
3,645,683
|
Other
fee income
|
-
|
102,580
|
102,580
|
Other
income
|
166
|
67,123
|
67,289
|
Interest
expense
|
(8,453
)
|
-
|
(8,453
)
|
Depreciation
|
(1,464
)
|
10,111
|
8,647
|
Income
before income tax expense
|
49,040
|
50,099
|
99,139
|
Income
tax expense
|
(31,572
)
|
(18,933
)
|
(50,505
)
|
Net
income (loss) of continued operations
|
17,468
|
31,166
|
48,634
|
Segment
assets of continued operations
|
1,835,630
|
3,045,393
|
4,881,023
|
|
|
|
|
|
Holding
|
Broker-Dealer
|
|
As
of, and for the three months ended:
|
Company
|
Services
|
Total
|
|
|
|
|
September 30, 2016
|
|
|
|
Commissions
and fee income
|
-
|
4,600,219
|
4,600,219
|
Other
fee income
|
-
|
112,841
|
112,841
|
Other
income
|
16
|
27,064
|
27,080
|
Depreciation
|
996
|
11,192
|
12,188
|
Income
(loss) before income tax benefit (expense)
|
(128,262
)
|
222,541
|
94,279
|
Income
tax benefit (expense)
|
44,379
|
(73,124
)
|
(28,745
)
|
Net
income (loss) of continued operations
|
(83,883
)
|
149,417
|
65,534
|
Segment
assets of continued operations
|
1,388,992
|
3,386,800
|
4,775,792
|
|
Holding
|
Broker-Dealer
|
|
As
of, and for the nine months ended:
|
Company
|
Services
|
Total
|
|
|
|
|
September 30, 2017
|
|
|
|
Commissions
and fee income
|
-
|
11,116,544
|
11,116,544
|
Other
fee income
|
-
|
312,299
|
312,299
|
Other
income
|
260
|
71,710
|
71,970
|
Interest
expense
|
20,714
|
-
|
20,714
|
Depreciation
|
13,061
|
30,993
|
44,054
|
Income
(loss) before income tax benefit (expense)
|
(273,778
)
|
241,738
|
(32,040
)
|
Income
tax benefit (expense)
|
85,433
|
(94,759
)
|
(9,326
)
|
Net
income (loss) of continued operations
|
(188,345
)
|
146,979
|
(41,366
)
|
Segment
assets of continued operations
|
1,835,630
|
3,045,393
|
4,881,023
|
|
|
|
|
|
Holding
|
Broker-Dealer
|
|
As
of, and for the nine months ended:
|
Company
|
Services
|
Total
|
|
|
|
|
September 30, 2016
|
|
|
|
Commissions
and fee income
|
-
|
13,020,135
|
13,020,135
|
Other
fee income
|
-
|
232,275
|
232,275
|
Other
income
|
(3,480
)
|
29,680
|
26,200
|
Depreciation
|
2,218
|
33,533
|
35,751
|
Income
(loss) before income tax benefit (expense)
|
(318,520
)
|
331,383
|
12,863
|
Income
tax benefit (expense)
|
85,807
|
(129,902
)
|
(44,095
)
|
Net
income (loss) of continued operations
|
(232,713
)
|
201,481
|
(31,232
)
|
Segment
assets of continued operations
|
1,388,992
|
3,386,800
|
4,775,792
|
|
Three Months
Ended
|
Nine Months
Ended
|
||
|
September
30,
|
September
30,
|
||
|
2017
|
2016
|
2017
|
2016
|
Net income
(loss)
|
48,634
|
65,534
|
(41,366
)
|
(31,232
)
|
Income (loss) per
share:
|
|
|
|
|
Basic and
diluted
|
39
|
53
|
(33
)
|
(25
)
|
Period
|
Total Number of
Shares Purchased
|
Average Price
Per Share
|
Total Number of
Shares Purchased as Part of Publicly Announced Plans or
Programs
|
Approximate
Dollar Value of Shares That May Yet Be Purchased Under the Plans or
Programs
|
July
2017
|
-
|
-
|
-
|
$
597,754
|
August
2017
|
-
|
-
|
-
|
$
597,754
|
September
2017
|
-
|
-
|
-
|
$
597,754
|
Total
|
-
|
-
|
-
|
$
597,754
|
|
CEO Certification Pursuant to Section 302 of the Sarbanes-Oxley Act
and Rules 13a-14(a) and 15d-14(a) of the Exchange Act
|
|
|
CFO Certification Pursuant to Section 302 of the Sarbanes-Oxley Act
and Rules 13a-14(a) and 15d-14(a) of the Exchange Act
|
|
|
CEO Certification Pursuant to Section 906 of the Sarbanes-Oxley Act
and 18 U.S.C. Section 1350
|
|
|
CFO Certification Pursuant to Section 906 of the Sarbanes-Oxley Act
and 18 U.S.C. Section 1350
|
|
101.INS
|
|
XBRL Instance Document
|
101.SCH
|
|
XBRL Taxonomy Extension Schema
|
101 CAL
|
|
XBRL Taxonomy Extension Calculation Linkbase
|
101 DEF
|
|
XBRL Taxonomy Extension Definition Linkbase
|
101 LAB
|
|
XBRL Taxonomy Extension Label Linkbase Document
|
101 PRE
|
|
XBRL Taxonomy Extension Presentation Linkbase
|
|
|
CAPITAL FINANCIAL HOLDINGS, INC.
|
|
|
|
|
|
Date:
|
November
14, 2017
|
By /s/
Gordon Dihle
|
|
|
|
Gordon
Dihle
|
|
|
|
Chief
Executive Officer & President
(Principal
Executive Officer)
|
|
Date:
|
November
14, 2017
|
By /s/
Elizabeth Colby
|
|
|
|
Elizabeth
A. Colby
|
|
|
|
Chief
Financial Officer & Corporate Secretary
|
|
|
|
(Principal
Financial Officer)
|
|
1 Year Capital Financial (CE) Chart |
1 Month Capital Financial (CE) Chart |
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