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Capital Financial Holdings, Inc. Voluntary Disclosure of Events

Contact: John Carlson 701/837-9600

MINOT, NORTH DAKOTA - (June 24, 2013) – Capital Financial Holdings, Inc. (CPFH.OB), a financial services company, announced that on June 19, 2013, Capital Financial Holdings, Inc. (the “Company”) conducted its annual meeting of shareholders in which the shareholders considered the following action items:

 1. To elect the Board of Directors of the Company.
 
 2. To ratify the selection of Hein & Associates, LLP as the Company’s independent auditors for the fiscal year ending December 31, 2013.
 
 3. To approve a Plan of Recapitalization and to amend the Articles of Incorporation to provide for a 10,000 to one (1) reverse stock split.
 
 4. To approve the conversion of the Company from a corporation to a limited liability company in accordance with North Dakota law.
 
 5. To approve the Company’s voluntary withdrawal from its obligation to file reports with the United States Securities and Exchange Commission.  (Advisory).
 
A quorum was present at the meeting, and all action items were approved by the vote of a majority of the shareholders.
 
As a result of this approval, the Company will immediately file Form 15 with the United States Securities and Exchange Commission, which will immediately terminate its reporting obligations under The Exchange Act of 1934.  When this filing is effective, the Company’s shares will no longer be eligible for trading on the OTC Bulletin Board, although they will be eligible for trading on the pink sheets.
 
The Company will also move forward to file appropriate documentation with the Secretary of State of North Dakota to effect the reverse stock split and the conversion of the Company to a limited liability company.


 




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