We could not find any results for:
Make sure your spelling is correct or try broadening your search.
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)
|
Yes
|
☒
|
No
|
☐
|
Yes
|
☒
|
No
|
☐
|
Large accelerated
filer
|
☐
|
|
Accelerated
filer
|
☐
|
Non-accelerated
filer
|
☐
|
|
Smaller reporting
company
|
☒
|
|
|
|
Emerging growth
company
|
☐
|
Yes
|
☐
|
No
|
☒
|
Yes
|
☐
|
No
|
☒
|
PART I
|
FINANCIAL INFORMATION
|
Page #
|
|
|
|
|
||
|
|
|
|
|
|
|
3
|
|
|
|
|
|
|
|
|
5
|
|
|
|
|
|
|
|
|
6
|
|
|
|
|
|
|
|
|
7
|
|
|
|
|
|
8-10
|
|
|
|
|
11
|
||
|
|
|
14
|
||
|
|
|
14
|
||
|
|
|
PART II
|
OTHER INFORMATION
|
|
|
|
|
15
|
||
|
|
|
15
|
||
|
|
|
15
|
||
|
|
|
16
|
||
|
|
|
16
|
||
|
|
|
16
|
||
|
|
|
16
|
||
|
|
|
|
17
|
I
TEM 1.
|
Financial Statements
|
|
(Unaudited)
|
|
|
March
31,
2019
|
December
31,
2018
|
CURRENT
ASSETS
|
|
|
Cash and cash
equivalents
|
$
1,743,589
|
$
1,833,079
|
Accounts receivable
(net of an allowance for doubtful accounts of $24,000 for March 31,
2019 and December 31, 2018)
|
1,576,127
|
1,800,704
|
Prepaids
|
21,326
|
30,587
|
|
|
|
|
|
|
Total
current assets
|
$
3,341,042
|
$
3,664,370
|
|
|
|
PROPERTY
AND EQUIPMENT
|
|
|
Land
|
$
98,409
|
$
98,409
|
Building
|
1,102,443
|
1,102,148
|
Furniture, fixtures
and equipment
|
349,454
|
350,429
|
Less
accumulated depreciation
|
(360,389
)
|
(343,800
)
|
|
|
|
|
|
|
Net
property and equipment
|
$
1,189,917
|
$
1,207,186
|
|
|
|
OTHER
ASSETS
|
|
|
Deferred tax asset
– non-current
|
$
249,636
|
$
270,414
|
|
|
|
Total
other assets
|
$
249,636
|
$
270,414
|
|
|
|
TOTAL
ASSETS
|
$
4,780,595
|
$
5,141,970
|
|
(Unaudited)
|
|
|
March
31,
2019
|
December
31,
2018
|
CURRENT
LIABILITIES
|
|
|
Accounts payable
and accrued expenses
|
$
176,555
|
$
302,512
|
Commissions
payable
|
1,849,739
|
2,046,263
|
|
|
|
Total
current liabilities
|
$
2,026,294
|
$
2,348,775
|
|
|
|
NON
CURRENT LIABILITIES
|
|
|
Building
mortgage
|
$
633,005
|
$
641,169
|
Loss
contingency
|
555,000
|
555,000
|
|
|
|
Total
noncurrent liabilities
|
$
1,188,005
|
$
1,196,169
|
|
|
|
TOTAL
LIABILITIES
|
$
3,214,299
|
$
3,544,944
|
|
|
|
STOCKHOLDERS'
EQUITY
|
|
|
Series A preferred
stock – 5,000,000 shares authorized, $.0001 par
value;
3,050,000
and 3,050,000 shares issued and 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
|
(8,881,460
)
|
(8,850,730
)
|
Less Treasury
stock, 3,050,000 preferred shares at $0.4262
|
(1,300,000
)
|
(1,300,000
)
|
|
|
|
TOTAL
STOCKHOLDERS’ EQUITY
|
$
1,566,296
|
$
1,597,026
|
|
|
|
TOTAL
LIABILITIES AND STOCKHOLDERS' EQUITY
|
$
4,780,595
|
$
5,141,970
|
|
(Unaudited)
Three Months
Ended
March
31,
|
|
|
2019
|
2018
|
CASH
FLOWS FROM OPERATING ACTIVITIES
|
|
|
Net income
(loss)
|
$
(30,730
)
|
$
83,393
|
Adjustments to
reconcile net income (loss) to net cash provided by (used for)
operating activities:
|
|
|
Depreciation
|
16,589
|
15,387
|
Provision (benefit)
for deferred income taxes
|
–
|
(52,956
)
|
Effects on
operating cash flows due to changes in:
|
|
|
Accounts
receivable
|
224,577
|
100,172
|
Income taxes
payable (receivable)
|
20,778
|
46,449
|
Prepaids
|
9,261
|
(28,561
)
|
Accounts
payable
|
(125,957
)
|
(53,865
)
|
Commissions
payable
|
(196,524
)
|
(81,638
)
|
Other
liabilities
|
–
|
6,694
|
Net
cash provided by (used for) operating activities
|
$
(82,006
)
|
$
35,075
|
|
|
|
CASH
FLOWS FROM INVESTING ACTIVITIES
|
|
|
Disposal (Purchase)
of property and equipment
|
$
680
|
3,235
|
Reduction in
Mortgage Debt
|
(8,164
)
|
(7,783
)
|
Net
cash used for investing activities
|
$
(7,484
)
|
$
(4,548
)
|
|
|
|
CASH
FLOWS FROM FINANCING ACTIVITIES
|
|
|
|
|
|
Net
cash provided by (used for) financing activities
|
$
–
|
$
–
|
|
|
–
|
NET
[INCREASE/DECREASE] IN CASH AND CASH EQUIVALENTS
|
$
(89,490
)
|
$
30,527
|
CASH
AND CASH EQUIVALENTS AT BEGINNING OF PERIOD
|
$
1,833,079
|
$
1,794,896
|
CASH
AND CASH EQUIVALENTS AT END OF PERIOD
|
$
1,743,589
|
$
1,825,423
|
|
|
|
SUPPLEMENTAL
DISCLOSURE OF CASH FLOW INFORMATION
|
|
|
Cash paid during
the year for:
|
|
|
Interest
|
$
7,791
|
$
8,173
|
Income
taxes
|
$
–
|
$
–
|
|
|
|
SUPPLEMENTAL
SCHEDULE OF NON CASH
INVESTING
AND FINANCING ACTIVITIES
|
|
|
Cash paid for
interest on building mortgage
|
$
7,791
|
$
8,173
|
|
|
|
|
Year to Date: Three-Month Period Ended March 31, 2019
|
||||
|
Retained
Earnings
(Accumulated
Deficit
|
Common
Stock
|
Additional
Paid-In
Capital
|
Net Paid-in
Series A
Treasury
|
Total
|
January 1, 2019
|
$
(8,850,730
)
|
1,241
|
$
10,221,515
|
$
225,000
|
$
1,597,026
|
Issuance of Company’s common stock
|
|
0
|
0
|
|
0
|
Dividends declared
|
0
|
|
|
|
0
|
Comprehensive income:
|
|
|
|
|
|
Net income (Loss)
|
(30,730
)
|
|
|
|
|
Other comprehensive income (N/A)
|
|
|
|
|
|
March 31, 2019
|
$
(8,881,460
)
|
1,241
|
$
10,221,515
|
$
225,000
|
$
1,566,296
|
|
Number
of
Options
|
Weighted
Average
Exercise
Price
per
Share
|
Weighted
Average
Grant
Date
Fair
Value
|
Aggregate
Intrinsic
Value
|
Outstanding on
January 1, 2018
|
167
|
$
4,538
|
$
4,190
|
$
–
|
Granted
|
–
|
–
|
–
|
|
Exercised
|
–
|
–
|
–
|
|
Cancelled
|
–
|
–
|
–
|
|
Outstanding on
December 31, 2018
|
167
|
4,538
|
4,190
|
–
|
Granted
|
–
|
–
|
–
|
|
Exercised
|
–
|
–
|
–
|
|
Canceled
|
–
|
–
|
–
|
|
Outstanding on
March 31, 2018
|
167
|
$
4,538
|
$
4,190
|
$
-
|
|
Three Months
Ended March 31, 2019
|
Three Months
Ended March 31, 2018
|
||||
|
Numerator
|
Denominator
|
Per
Share
Amount
|
Numerator
|
Denominator
|
Per
Share
Amount
|
Net (Loss) Income
of continuing operations
|
$
(30,730
)
|
|
|
$
83,393
|
|
|
Less: Preferred
Stock
Dividends
|
–
|
|
|
–
|
|
|
Income of
Continuing
Operations
Available to
Common
Shareholders –
Basic and
diluted
Earnings per
Share
|
$
(30,730
)
|
$
1,241
|
(25
)
|
$
83,393
|
1,241
|
$
(67
)
|
As
of, and for the three months ended, March 31,
2019
|
Holding
Company
|
Broker-Dealer
Services
|
Total
|
Commissions
and fee income
|
$
–
|
3,396,042
|
3,396,042
|
Other
fee income
|
$
–
|
23,709
|
23,709
|
Interest
expense
|
$
7,791
|
–
|
7,791
|
Depreciation
|
$
8,798
|
7,791
|
16,589
|
Income
(loss) before income tax benefit (expense)
|
$
(118,232
)
|
122,030
|
3,798
|
Income
tax benefit (expense)
|
$
–
|
(34,528
)
|
(34,528
)
|
Net
income (loss) of continued operations
|
$
(118,232
)
|
87,502
|
(30,730
)
|
Segment
assets of continued operations
|
$
1,508,638
|
3,271,957
|
4,780,595
|
I
TEM 2.
|
Management’s Discussion and Analysis of Financial Condition
and Results of Operations
|
|
Three Months
Ended
|
|
|
March
31,
|
|
|
2019
|
2018
|
Net Gain
(Loss)
|
$
(30,730
)
|
$
83,393
|
Gain (Loss) per
share:
|
|
|
Basic
and diluted
|
$
(25
)
|
$
67
|
I
TEM 3.
|
Quantitative and Qualitative Disclosures About Market
Risk
|
I
TEM 4.
|
Controls and Procedures
|
I
TEM 1.
|
Legal Proceedings
|
I
TEM 1A.
|
Risk Factors
|
I
TEM 2.
|
Unregistered Sales of Equity Securities and Use of
Proceeds
|
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
|
January
2019
|
–
|
–
|
–
|
$
597,754
|
February
2019
|
–
|
–
|
–
|
$
597,754
|
March
2019
|
–
|
–
|
–
|
$
597,754
|
Total
|
–
|
–
|
–
|
$
597,754
|
I
TEM 3.
|
Defaults Upon Senior Securities
|
I
TEM 4.
|
(Removed and Reserved)
|
I
TEM 5.
|
Other Information
|
I
TEM 6.
|
Exhibits
|
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
|
|
|
CAPITAL FINANCIAL HOLDINGS, INC.
|
|
|
|
Date:
|
May 15,
2019
|
By /s/
Gordon Dihle
|
|
|
Gordon
Dihle
|
|
|
Chief
Executive Officer & President
(Principal
Executive Officer)
|
Date:
|
May 15,
2019
|
By /s/
Charlene Fowler
|
|
|
Charlene
Fowler
|
|
|
Chief
Financial Officer
|
|
|
(Principal
Financial Officer)
|
1 Year Capital Financial (CE) Chart |
1 Month Capital Financial (CE) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions