CAPITAL FINANCIAL HOLDINGS, INC. (OTCMKTS:CPFH) Files An 8-K Changes in Registrant’s Certifying Accountant

The audit committee of the Board of Directors of Capital Financial Holdings, Inc. (“CFH”) annually considers and recommends to the full Board the selection of independent public accountants. After an evaluation process, as recommended by CFH’s Audit Committee on March 31, 2017, the Board of Directors appointed Dave Banerjee CPA, an Accountancy Corporation (“DBCPA”) as CFH’s independent auditors for the 2017 fiscal year, replacing Hein & Associates LLP (“Hein”). DBCPA’s address is 21860 Burbank Blvd., Suite 150, Woodland Hills, CA 91367.

This action effectively accepts Hein’s resignation as the Company’s independent auditor for the fiscal year that will commence on January 1, 2017. The report of Hein on the Company’s consolidated financial statements for the years ended December 31, 2016 and 2015 did not contain an adverse opinion or a disclaimer of opinion and was not qualified or modified as to uncertainty, audit scope, or account principles. We do not anticipate that this will change with respect to CFH’s financial statements for the 2017 year.

For the years ended December 31, 2016 and 2015 and through the date of this Form 8-K, there have been no disagreements with Hein on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements if not resolved to Hein’s satisfaction would have cause them to make reference to the subject matter of the disagreement in connection with their reports. For the years ended December 31, 2015 and 2016 and through the date of this Form 8-K, there were no “reportable events” as that term is described in Item 304(a)(1)(v) of Regulation S-K.

CFH has provided Hein with a copy of the Form 8-K and CFH has requested that Hein furnish a letter addressed to the Commission stating whether it agrees with the statements above.

For the years ended December 31, 2015 and 2016 and through the date of this Form 8-K, neither CFH nor anyone on CFH’s behalf consulted DBCPA with respect to the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on CFH’s consolidated financial statements, or any other matters or reportable events as defined in Item 304(a)(2)(i) and (ii) of Regulation S-K. DBCPA has been asked to review this disclosure and DBCPA has been provided an opportunity to furnish a letter to the SEC containing any new information, clarification, or disagreement with the statements made herein.

Item 9.01 Financial Statements and Exhibits

Exhibit 16 Letter from certifying accountant

About CAPITAL FINANCIAL HOLDINGS, INC. (OTCMKTS:CPFH)
Capital Financial Holdings, Inc. is a financial services holding company. The Company, through its broker dealer subsidiary, Capital Financial Services, Inc. (CFS), provides brokerage investment advisory insurance and related services. The Company’s segments include Broker-Dealer Services, Natural Resources and Holding Company. The broker-dealer services segment distributes securities and insurance products to retail investors through a network of registered representatives through its subsidiary, CFS. The natural resources segment seeks opportunities related to natural resources in the United States, including petroleum, natural gas and/or other minerals, water resources and land through its subsidiary, Capital Natural Resources, Inc. (CNR). The holding company segment encompasses cost associated with business development and acquisitions, dispositions of subsidiary entities and results of discontinued operations, dividend income and recognized gains or losses. CAPITAL FINANCIAL HOLDINGS, INC. (OTCMKTS:CPFH) Recent Trading Information
CAPITAL FINANCIAL HOLDINGS, INC. (OTCMKTS:CPFH) closed its last trading session 00.00 at 1,406.00 with 2 shares trading hands.