At the board of directors' meeting on November 7, 2013, Jeffrey Cummer tendered his resignation from the board of directors. At the meeting, the board of directors of Capital Financial Holdings, Inc., voted to accept Mr. Cummer's resignation. There was no disagreement or dispute between Mr. Cummer and the company.

The board of directors then voted to appoint Gordon Dihle to fill the vacant position on the board and appoint Mr. Dihle as the new chairman of the board of directors.