SOUTHLAKE, Texas, April 16, 2014 /PRNewswire/ -- Swordfish
Financial, Inc. (OTC QB: SWRF) -- As announced in February,
our new structure has provided SWRF with the ability to identify
and structure well planned investments in new verticals. We have
the ability to increase our portfolio and thereby increase the
valuation of the company through strategic acquisitions of cash
producing companies," said Clark
Ortiz, CEO of Swordfish Financial, Inc.
The purchase agreement comes from months of pursuit entering
into an income generating position with oil companies which are
presently producing oil, while providing the team necessary for on
going acquisitions. "This is the first of announcements to come of
wells in queue which we are uniquely positioned to acquire from
15%-45% of all productions," continued Mr. Ortiz.
The sellers, Mr. Ron Moss and Mr.
William Rahauser carry on the
business of Oil Producing wells and future wells in development and
a corporation described as Catalyst Operation, LLC registered in
the State of Texas. Swordfish will
acquire 100% of Catalyst Operations, LLC along with designated
wells presently producing and a series of wells presently in queue.
"Our relationship with Mr. Moss, who is the CEO of Royal Oil, Inc.
provides an on going relationship whereby Swordfish will continue
to acquire positions in many projects. It has been our sincerest
desire for us to build a relationship to fund and acquire
production in this vertical," says Mr. Ortiz.
Our unique strategy is to acquire the first group of wells which
consist of 6 wells with each projected to produce 50-150 bpd with
75,000 - 150,000 of recoverable barrels of oil in reserve. The
second group being 10 wells could produce 20-40 bpd. These and
other oil assets will be held in Catalyst Operations, LLC which
Swordfish Financial, Inc. will own 100% interest.
Shareholder Update:
- The filing of the 10K was submitted today and would reflect on
the OTC Markets website by tomorrow April
17th.
- Shareholder podcast will resume on a weekly bases. Please
submit all questions regarding topics of all Press Releases
previously published. The podcast will be produced and broadcast
through iTunes and www.SwordfishNews.com websites.
- iPoint Television will be announcing the details of it's new
Set Top Box which is presently available overseas and should be
available throughout the Americas as soon as August 2014.
About Swordfish Financial, Inc.
Swordfish Financial, Inc. (SFI) is a publicly held diversified
financial company designed to acquire undercapitalized assets with
a high level of profitability in the digital, entertainment, Smart
technology and energy industries. SFI develops capital while
providing valuable opportunity of loans and/or investment in, small
and medium sized organizations with the goal of increasing investor
value.
Forward-Looking Statements:
Contained; forward-looking statements about management's view of
SFI's future expectations, plans and prospects. Statements made are
forward-looking which involve known and unknown risks,
uncertainties and other factors, which may cause the results of SFI
to be materially different than those expressed or implied in such
statements. These risk factors and others are included from time to
time in documents that SFI files with the Securities and Exchange
Commission, including but not limited to, its Form 10-Ks, Form
10-Qs and Form 8-Ks. SFI cannot guarantee future results, levels of
activity, performance or achievements. Accordingly, you should not
place undue reliance on these statements. Finally, SFI undertakes
no obligation to update these statements after the date of this
release, except as required by law, and also takes no obligation to
update or correct information prepared by third parties that are
not paid for by SFI.
Contact:
Contact Information: Clark Ortiz
Phone number: 817-845-6244
Email: Clark.Ortiz@SwordfishFinancial.com
SOURCE Swordfish Financial, Inc.