Ft. Lauderdale, FL, Sept. 21, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Cardiff Lexington Corp (OTCQB): Cardiff Lexington will host a Shareholders conference call at 11am Eastern time. To access the conference call, please dial 800-719-6100 and use the conference ID 9752769#.
The purpose of this conference call is to increase communication and relationship with the shareholders who believe in Cardiff Lexington’s mission. The information that will be provided is not forward-looking statements; rather, it will overview current events indicating management’s philosophy and approach to company operations.
Cardiff Lexington received approval from a majority of the shareholders by written consent without a special meeting of the shareholders for an amendment to its Articles of Incorporation that increases the number of shares of common stock authorized from 1 Billion to 2 Billion (the "Amendment"). Florida law requires a simple majority approval for this action and the Company sought only the votes of its directors and executive officers, and shareholders affiliated with them, rather than conduct a costlier outreach to all shareholders.
CEO Alex Cunningham stated the Board of Directors believe the increase in authorized shares available is perfectly aligned with the company’s mission to drive dramatic growth through acquisitions, sell additional shares of stock in potential private placements, and potential debt restructuring initiatives. The shareholders approved the Amendment upon the recommendation of the Board of Directors. The Amendment became effective on September 17th, 2018 following acceptance of the filing of a Certificate of Amendment with the Secretary of State of the State of Florida.
About Cardiff Lexington Corporation: Cardiff Lexington is a public holding company, much like a cooperative, leveraging proven management within private companies that become wholly subsidiaries. Our focus is not industry or geographic-specific, but rather proven management, market, and margin. Cardiff Lexington targets acquisitions of mature, high growth, niche companies. Cardiff Lexington's strategy identifies and empowers select income-producing middle market private businesses, and commercial real estate properties. Cardiff Lexington 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 Lexington provides a diversified lower risk to protect and safely enhance their investment by over time continually adding assets and holdings. Cardiff Lexington is led by strong and talented team 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. These risks 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.