SOURCE: Omega Commercial Finance Corporation

Omega Commercial Finance Corporation

January 15, 2014 08:00 ET

Omega Commercial Finance Corporation Announces Acquisition of NuQuest Capital Match Point I, LLC's Web Portal Asset to Restructure as a Crowd Funding Portal

"The Crowd Funding Market Could Rapidly Evolve as Large as $3.98 Billion per Year as Some Research Institutions Believe"

MIAMI FL--(Marketwired - Jan 15, 2014) - Omega Commercial Finance Corporation (OTCQB: OCFN) a publicly traded financial holding company and NuQuest Incorporated announced in an 8k filed January 9, 2014 they have signed a Definitive Asset Purchase Agreement to successfully close the acquisition of NuQuest Inc.'s majority owned asset, Capital MatchPoint financial services web portal. As one of OCFN's operating subsidiaries, this web portal will remain under the brand Capital MatchPoint.

Capital MatchPointTM ("CMP") is an International Social Network and Internet Platform with eCommerce transactional capabilities. CMP is a two-party "matching" mechanism for the Capital Seeker and Capital Provider markets. The automated system aggregates, sorts, matches, notifies and routes user requests to provide or receive funding. CMP is configured to serve as a Social Network and Internet Transaction Platform for virtually any other application where there is a two-sided market of users, (buyers/sellers, users/providers, etc.), in need of a web-based meeting place and a matching process, i.e. Crowd Funding, Real Estate, Technology, Health Care, etc.

OCFN financed the acquisition with the issuance of 1-million Convertible Preferred Stock. Strategically, the strength of the acquisition is the ability for CMP to add three revenue verticals to OCFN serving as an additional potential profit center for the holding company. The first is from the existing capital-seeker subscribers on the web portal, numbering into the thousands. The second source is from licensing the technology to the huge start-up Crowdfunding portal marketplace. Finally, the third and more instantaneous source of revenue comes from the cross pollination of CMP's proprietary database containing a subscriber base of 18,000 accredited investors that could support the direct capitalization of OCFN's small balance commercial real estate loan opportunities.

The company was founded by Ken Honeyman in 2008. "We at the Capital MatchPoint are very excited about becoming part of the OCFN family of companies. We know that this opens up many new opportunities for our growth and we're now able to expand in ways that were never possible before," explained Mr. Honeyman. "As for our existing shareholders, it gives us the opportunity to enjoy the potential upside of the public company's growth. We'll provide the technology platform for new deal flow that meshes into the enormous growth of crowd funding as we will be an early adopter in automated deal aggregation in this space," continued Honeyman.

Jon S. Cummings IV, Chairman of OCFN, states, "As part of OCFN, CMP still keeps its own unique identity, leadership, brand, and culture. As a subsidiary, CMP management remains separate of OCFN yet the product lines although independent and specific to CMP, create valuable synergies with the parent company. Additionally all of our companies will benefit from shared ideas and efficiencies experienced in the 'back-of-the-house,' such as finance, IT, and CMP's access to the capital markets through our publicly traded platform enabling continued growth."

About Us:

Omega Commercial Finance Corporation is a publicly traded financial services holding company. Our principal company, Omega Capital Street operates in the commercial real estate, finance, and capital markets sector. Additional subsidiaries include Capital MatchPoint, an international social network and internet platform with eCommerce transactional capabilities and a minority ownership stake in VFG Securities and VFG Advisors that are financial service related entities. As a holding company, OCFN collectively along with its subsidiaries' management teams have 50-years combined experience and knowledge across these business lines.

Safe Harbor

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Omega Commercial Finance Corp., its directors or its officers with respect to, among other things: (i) our expectations regarding revenues and earnings; (ii) our growth strategy and operating strategy; and (iii) our ability to attract new registered representatives. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential," "project" and similar expressions are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those projected in the forward-looking statements.

Contact Information

  • Omega Commercial Finance Corporation
    Investor Relations
    1-877-912-OCFN (6236) Ext. 0