SOURCE: Omega Commercial Finance Corporation
MIAMI, FL--(Marketwire - Aug 23, 2012) - Omega Commercial Finance Corporation (OTCQB: OCFN) (PINKSHEETS: OCFN) announces in their 10-Q unaudited "Statement of Cash Flow" ending June 30th 2012, a year-over-year increase in cash flow was 230%. Management is pleased to announce this illustration of growth when compared between the same period ending June 30th 2011 and its respective value of $50,010 and the current period ending June 30th 2012 with its respective value of $115,287. This is a fundamental measure and indicator for the success of a micro-cap growth company. This growth value measures their ability to manage cash flow necessary to sustain the day-to-day working capital needs for its operations. Although the net income still lags and is showing a net loss, this is due to productive administrative cost such as accounting, auditing, and legal retainers for the company's securities filings. In aggregate, each of these efforts allows an upgrade to the company's financial statements & operations resulting in a fully reporting, "transparent" status. Additional costs include due diligence and underwriting administrative expenses, which were essential for creating the current backlog of commercial property financing opportunities for the company's loan pipeline. Jon S. Cummings VI, President of Omega, states, "It is an important factor to sustain long-term growth as a micro-cap company by monitoring and balancing our short-term cash flow needs."
Ωmega trades as a commercial real estate lender and specialty finance holding company. Through its subsidiaries, Ωmega CRE Group LLC and Ωmega Capital Street LLC, the company shall focus primarily on originating, investing in, acquiring, and managing senior performing commercial real estate mortgage loans, commercial mortgage-backed securities, commercial real estate corporate debt & loans, and other CRE-related debt-investments in the U.S. and globally.
This release contains statements that constitute 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 appear in a number of places in this release and 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) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential," "project" and similar expressions and variations thereof 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, many of which are beyond Omega Commercial Finance Corp.'s ability to control and those actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Omega Commercial Finance Corp. filings with the Securities and Exchange Commission.