Cardiff International, Inc. (OTCQB: CDIF) is a shell company that focuses on the acquisition & development of niche brands, companies, and products. Shares of the shell, or holding, company are gaining 14.18% through afternoon trading on Thursday, March 16, 2017. Over the past three months, Cardiff International, Inc. has seen average daily volume of 87,580 shares. However, volume of 535,953 shares or dollar volume of $141,973, has already exchanged hands through Thursday trading.
Shares of Cardiff International, Inc. are climbing today, after the company announced it has acquired Consulting Services Support Corporation (CSSC) and its two subsidiaries: Decision Technology Corporation and CSSC Services and Solutions, Inc. While the exact terms of the deal are unknown, CSSC debtholders voted unanimously to approve the acquisition. This will turn CSSC debt into preferred shares of Cardiff International, Inc. Here is the full press release detailing of the acquisition agreement:
Cardiff International, Inc. Press Release:
FORT LAUDERDALE, FL–(Marketwired – Mar 14, 2017) – Cardiff International, Inc. ( OTCQB : CDIF ) announced today that it has acquired Consulting Services Support Corporation (CSSC) and its subsidiaries Decision Technology Corporation and CSSC Services and Solutions, Inc.
At CSSC’s annual shareholders meeting held Thursday, March 9th, in Lexington, KY, in a vote of confidence, all attending debtholders agreed to novate their notes into Cardiff preferred shares, and attending CSSC shareholders unanimously voted to approve Cardiff’s offer to acquire CSSC and its subsidiaries. Eric Smith, CEO of CSSC, and Alex Cunningham, President/CEO of Cardiff, presented at the annual meeting.
CSSC’s CEO Eric Smith stated, “We are thrilled to become part of one of the fastest growing companies in the Small Cap market. Together, as a team, we can achieve great success and growth.”
CSSC is the creator and developer of an exciting and unique decision-assistance technology, the patents on which are held by Decision Technologies Corporation, a wholly-owned subsidiary of CSSC. This unique financial platform technology empowers users to comparatively evaluate thousands of mutual fund, money manager, and other financial product choices, in a manner specific to their individual needs, goals, and preferences.
CSSC’s goal is transforming the way financial services are rendered by providing to brokers, investment consultants and individual investors a new way to optimize investment choices.
Cardiff’s CEO Alex Cunningham stated, “We’ve done our due diligence and are thrilled to have CSSC as our new subsidiary and part of our family. I believe CSSC will be a great addition to the Cardiff portfolio.”
Upon completion of the independent audit any changes will be announced in an amended 8K within the required 71 day period.
Cardiff International, Inc. is a public holding company, much like a cooperative, leveraging proven management in private companies that become subsidiaries under the Cardiff umbrella. Our focus is not industry or geographic-specific, but rather on proven management, market, and margin. Cardiff targets acquisitions of mature, high growth, niche companies. Cardiff’s strategy identifies and empowers select income-producing middle market private businesses, technology companies and commercial real estate properties. Cardiff provides these companies both 1) the enhanced ability to raise money for operations or expansion, and 2) an equity exit and liquidity strategy for the owner, heirs, and/or Investors. For investors, Cardiff provides a diversified lower risk way to protect and safely enhance their investment by continually adding assets and holdings. Cardiff is led by a strong and talented roster of executives and advisors providing expert acquisition, market guidance and added value for subsidiaries and investors.
FORWARD LOOKING STATEMENT
This news release contains forward looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties, including risks relating to the audit, and shareholder and debtholder participation conditions of the Acquisition Agreement related to this transaction. These risks also include the failure to meet schedule or performance requirements of the Company’s contracts, the Company’s liquidity position, the Company’s ability to obtain new contracts, the emergence of competitors with greater financial resources, and the impact of competitive pricing. In the light of these uncertainties the forward-looking events referred to in this release might not occur.