SOURCE: Omega Commercial Finance Corporation
MIAMI, FL--(Marketwired - Oct 29, 2013) - Omega Commercial Finance Corporation (OTCQB: OCFN), a publicly traded financial holding company closed Monday with a strengthened technical trend based on its past ten trading days, which stimulated long awaited negotiations for another sought-after full-service broker dealer acquisition candidate.
More importantly, the target acquisition is capable of offering investment-banking that can bring a coveted strategic revenue driver potentially adding to OCFN's top-line. Specifically, the proven business model of the cross-pollination between investment-banking and CMBS securitization with the objective being to cater to Omega Capital Street, OCFN's subsidiary and direct balance sheet lending operation that employs commercial real estate fixed loan programs. Management is implementing a similar model to the likes of Cantor Fitzgerald, a top Wall Street investment firm whom created Cantor Commercial Real Estate Finance by utilizing its fixed-income and investment-banking back offices.
Jon S. Cummings, IV Chairman of OCFN states, "It's my job to understand not only the day-to-day operation of the Company but how well our 'currency' is performing." Hence, OCFN traded through the 200 day moving average of $0.07 and reach an interim day High of $0.10 per share on Friday October 18th 2013." By reaching this interim day high, yielded a key quantitative technical move that brings merit to a recent Press Release announcing the purchase of OCFN common stock through a direct public offering registration at a fixed price of $0.10 per share.
2013 OCFN Accomplishments
Over the course of the year Management has orchestrated a diversified umbrella of companies such as Omega Capital Street to operate as OCFN's direct balance sheet lender for originating commercial real estate, CMBS style senior-mortgages, bridge, mezzanine loans, and participating equity loans within the United States and globally. Additionally, there's a minority stake in VFG Securities Incorporated, a full service broker dealer, and VFG Advisor, an RIA firm with $170-million in Assets Under Management. Furthermore, OCFN bought a factoring franchise operating as Omega Factoring LLC with a credit facility intact.
Safe Harbor Forward-Looking Statements
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 those actual results may differ materially from those projected in the forward-looking statements.