CARDIFF INTERNATIONAL, INC. (OTCMKTS:CDIF) Files An 8-K Completion of Acquisition or Disposition of AssetsItem 2.01 Completion of Acquisition or Disposition of Assets
Cardiff International, Inc. (OTCBB: CDIF) Announced today they have acquired Consulting Services Support Corporation (CSSC Corp) and its subsidiaries Decision Technology Corporation and CSSC Services and Solutions, Incorporation. CSSC is the creator and developer of a unique decision-assistance technology, the patents on which are held by Decision Technologies Corporation, a wholly-owned subsidiary of CSSC. This unique technology empowers users to comparatively evaluate thousands of mutual fund, money manager, and other financial product choices, in a manner specific their individual needs, goals, and preferences.
CSSC was founded with the goal of transforming the way financial services are rendered, by providing to brokers, investment consultants and individual investors a new way to optimize investment choices. The acquisitions are subject to completion of an independent audit, as well as debtholder and shareholder participation requirements being met.
In connection with the closing of the acquisitions, on the effective date of the signed Forward Acquisition Agreement, a Preferred “J” Class of stock was established with a value of $0.255 per share ("CSSC’s” Preferred “J” Class Stock) as consideration. The Preferred “J” Class of stock has a par value $0.001 per share. The preferred share was adjusted as a result of the authorization and declaration of a special distribution to CSSC’s stockholders at $0.25 per share with a conversion rate of 1 to 1.25 Common Stock with a Lock-Up/Leak-Out provision limiting the sale of stock for 6 months after which conversions and sales are limited to 25% of their portfolio per year, to the terms of the Acquisition Agreement.
Pending the results of the independent audit, and unanimous debtholder participation, CDIF will issue 6,056,227 shares of CDIF Preferred “J” Shares to CSSC’s shareholders as Stock Consideration as agreed to in the signed Forward Acquisition Agreement. Based on the price of CDIF’s Common stock at $0.25 per share, the acquisition consideration represents an approximate value of $1,544,338. Upon completion of the independent audit any changes will be announced in an amended 8K within the required 71 day period.
On March 10, 2017, CDIF’s Board of Directors appointed Eric Smith (hereinafter Smith) to serve as CEO of CSSC and its subsidiaries.
There are no family relationships between Smith and any of our directors or executive officers.
About CARDIFF INTERNATIONAL, INC. (OTCMKTS:CDIF)
Cardiff International, Inc. is a holding company with holdings of various companies. The Company is focused on the acquisition of undervalued companies with high growth potential, income-producing commercial real estate properties, and high return investments. Its segments include Mobile home lease (We Three), and Company-owned Pizza Restaurants (Romeo’s NY Pizza). The mobile home lease segment establishes mobile home business as an option for a homeowner wishing to avoid down payments, maintenance costs, monthly mortgage payments and high property taxes. The Company-owned Pizza Restaurant segment includes sales and operating results for all Company-owned restaurants. The Company, through Mission Tuition, offers a merchant shopping network in America consisting of merchants offering in-store savings and coupon savings with local, regional and national merchants throughout America. With each purchase, members earn rebates, which go directly into their educational savings account. CARDIFF INTERNATIONAL, INC. (OTCMKTS:CDIF) Recent Trading Information
CARDIFF INTERNATIONAL, INC. (OTCMKTS:CDIF) closed its last trading session 00.000 at 0.273 with 82,364 shares trading hands.