SALT LAKE CITY, April 9, 2014 /PRNewswire/ — Capital Financial Global, Inc. (OTC Pink: CFGX), announced today that it has successfully consolidated and restructured the more than $5.1 million in distressed refinery debt that it acquired in March.
“Lumping all the various acquired notes into one consolidated loan will help the refinery manage the repayment process as well as simplify our task of servicing the loan and collecting the payments,” said Mr. Paul Edward Norat, CEO of Capital Financial Global, Inc. “This loan will be a nice addition to our loan portfolio in terms of interest rate spread, since we acquired it by issuing our preferred stock.”
The new Secured Promissory Note and Security Agreement call for repayment of $5,100,000.00, bearing interest at 12% annually, with monthly interest-only payments until maturity, in 5 years. The corresponding Series B Preferred stock provides for cumulative dividends at 4% annually.
Disclosures can be found on the Company’s online disclosure portal at: http://www.otcmarkets.com/stock/CFGX/filings
About Capital Financial Global, Inc.
Capital Financial Global, Inc. (CFGX) is a specialty finance company that offers asset-backed financing and loan advisory services to insurance trusts pension funds, owners of commercial real estate, owners of residential real estate portfolios, and owners of mining precious metals assets.
Our Market Positioning Differentiation
Unlike traditional banking models, CFGX offers organizations needed liquidity by using an asset-backed approach rather than a traditional credit approach to originating new loans, buying and selling existing loans, and converting distressed collateral into cash or trade-able form.
Our Revenue Model
We seek revenue from loan fees, interest rate spreads on loans we hold, and margins on loans sold in whole or in part to institutional investors, hedge funds, or other secondary market participants. We also seek revenue by charging loan servicing fees and by selling distressed assets that we acquire for our own investment or through some type of foreclosure.
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as “may,” “will,” “should,” “could,” “expects,” “plans,” “intends,” “anticipates,” “believes,” “estimates,” “predicts,” “forecasts,” “potential,” or “continue,” or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.
For more information please contact:
Capital Financial Global, Inc.
SOURCE Capital Financial Global, Inc.
Article source: http://www.otcmarkets.com/stock/CFGX/news?id=78797