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The last information provided by the company was on September 8th when they announced, through an 8K, hiring a new auditor.
2 1/2 months is plenty of time to complete an audit even if they are going back a number of quarters and possibly making restatements.
There is a good possibility that the company can't be audited, or they can't afford to pay for it.
Frank has no ability to raise capital.
Louis I would bet that Var-Gas is not receiving anything and doesn't own anything.
On July 6 of this year Omega acquired a "MINORITY INTEREST" in Branca Ribeiro Representacoes Ltd. BRR is a forest land and timber holding company that is among the largest privately held forest land-banks and timber/wood producers in all of Brazil with 345,453 acres of land valued at $393-million and a 2014 year-ending profit margin of 20% from EBITDA of $23-million.
Under the agreement OMEGA and BRR executed a share exchange transaction in which OMEGA owns 20% of BRR giving OMEGA a consolidated minority ownership value of $78,600,000.
In over 3 months we have heard nothing about this.Funny, how does a company with a market cap of $140k have the nerve to say they did anything like this.
This is a company that issued a press release announcing they built a new web site.
Var-Gas can you explain the silence?
Var-Gas stop it! You know exactly what this company is.
I highly doubt that.
Vargass, you of all people know that if this company made any money from operations , even if it was only a dollar, they would have been trumpeting it in a press release the day they booked it. The same for raising money.
As for revenues; revenues do not acquire companies, income does, and Omega is far from reaching any situation where they will show income.
The company derives revenues in two ways, either: 1) pumping and dumping; and/or 2) diluting and dumping. This is their business model. Revenues from these activities do not accrue to the bottom line and certainly do not accrue to the shareholders; they are dispersed to the individuals involved in the scheme to assist in perpetuating the scheme.
There may be a small amount of revenues from their up-front fee scam but that is nominal compared to the damage they have done and the resulting lawsuits.
As for the auditor; what kind of auditor would take on a deal like this?
All statements in this post are fact and as such I will defend it in court, I will not disclaim disclaim anything with the typical IMO.
Vargas, In Omega's 10K Year Ended 2014 they had $229,955 in current assets and $4,733,689 in current liabilities: a working capital deficit of $4,503,734. There is no way they are doing any REAL acquisitions. Anything they do will be the same as the so called acquisitions they did last year, they will be used to attempt to pump the stock and then will never be mentioned again.
Their last reverse split went from $2,000 per share to ZERO.
Pending acquisitions? To be acquired with what currency? They have ZERO CASH and the stock is ZERO BID.
What is the reason Omega has not filed its 10Q's for the first two quarters this year?
So when you tout this company you do so without having done your due diligence? You just regurgitate what management tells you without verification?
You are aware that this management has been untruthful numerous times, to enrich themselves, yet you continue to propagate these untruths. Are you doing this to enrich yourself?
So you invested in this company because they said they would pay you 18.25%, and the fact that they have NEVER done anything they said they were going to do and they have been sued numerous times because of it didn't concern you?
Vargass - did you review all of the information on Omega and their crew synthesized into the promotionstocksecrets.com site before you made your investment. If not, what due diligence did you do before you made the investment that led you to believe making the investment was a good idea?
If you can share with this board this information, it will help potential investors make investments in this company which will only help you.
Now that you are aware of it have you asked any questions of management regarding the allegations within that report?
Were you aware of the promotionstocksecrets.com information on Omega before you made your investment?
This is what I asked you Vargass: Do they care about what the SEC or FINRA may think about their activities? Most public companies do especially companies that are claiming to me moving to the NYSE.
Compliant? They are far from compliant because they have not filed financials.
Were you aware of the promotionstocksecrets.com information on Omega before you made your investment/started working for them?
Do they care about what the SEC or FINRA may think about their activities? Most public companies do especially companies that are claiming to me moving to the NYSE.
Vargass you talk to the guys that run this company, are they aware of this board and that everything they have done with the company looks, and probably is, criminal?
Vargas how would you spin the information about Omega on the Promotion Stock Secrets website (link below).
This person really did there homework - all of it is verifiable.
Were you in possession of this information before you started working for the company or made your investment.
promotionstocksecrets.com/omega-commercial-finance-corp-ocfn-research-report/[tagPromotion Stock Secrets[/tag]
All credit to Flaghunter.
Flaghunter; WOW! Thank you for the post. I did my own due diligence but that site brings much more to light.
It looks like it is only a matter of time before these guys are in prison, or back in prison as the case may be.
Hokie, be careful Vargass called me a moron yesterday. I wasn't insulted because I considered the source and noticed that he calls you Pokie when you address the real issues.
I think he ties to chase logic and common sense off the this Board.
Good to hear. It will be great to see it in their financials. I am sure everyone on this Board is happy to have you as our resident insider.
Hiring and paying are not the same thing.
I am sure that will get current at some point. Hopefully sooner rather than later. The next tall tale will go much better them.
Moron? 8k's don't require an audit. Audits are expensive.
Take a look at their Recent Sales of Unregistered Securities in their 10K filed on 5/15/15 and then attempt to find the corresponding From D. The alleged issuance of these preferred shares was July 30, 2014.
Then review the Cash Flow Statement from the same 10K.
Because they do not have any income from operations and the volume has dried up. The way the insiders made money was to sell stock into investors buying after a big announcement. They are having trouble making that happen now because nobody believes a word they say.
The reason they can't file their financials is probably because they can't afford it.
The stock is zero bid nothing this company does works for anyone but the insiders. Then again it is not designed to.
They are not making interest payments. The only bills Omega pays are the expenses to promote the stock.
Where are you Vargass? It looks like Eran got worthless stock as a bonus.
Frank's incarceration, and everyone involved with promoting this "company," is imminent. They all know it.
Vargas another no volume no bid day. When are your partners going to bring another tall tale? You are going to start missing paychecks soon.
Vargas you are not getting paid interest on a preferred stock position, you are getting paid on your pump and dump efforts. So, when do we get more tall tales from management to keep your paycheck coming.
Notice I didn't say IMO.
Yes Vargass as always you are correct. Volume totaled $828.i5 today. Now the company can pay your paycheck next month.
No Hokie you didn't miss anything and Vargass is not a preferred shareholder, he is not getting a monthly divvy except for whatever comes from the pump and dump split.
Vargas you should work for Hillary Clinton you can spin with the best of them.
Vargass, another ZERO VOLUME day on a ZERO BID "COMPANY" [stock]. We need another TALL TALE, Call Jonathan Cummings at his new home near his family and help him dream up a new one.
Vargass - I am not nervous about the stock at 0.0001 and ZERO BID I just started looking at this company when they hit ZERO BID, that is my model. I am trying to figure out if the guys at Omega have the nerve to tell even taller tales.
The financials are not relevant at this point. It is really about the imagination of the people at the helm. The past financials have even proven to be extremely imaginative.
Vargass - What is your problem with Hokie. Does the truth hurt?
Everything I see here - and I do my due diligence - is negative. Yet you are on this site all day answering questions and touting the company. Are you going to be too busy for me in a few days when I start asking the real tough questions?
Vargass - you are an insider.
What confuses me is why other seemingly real company's allow their name to be attached to this company and why any "employee" would work for Omega. There is clearly a serious problem with this company.
Interesting perspective. Omega announced a closed deal, and then found out it was a bad deal. One would think they would have done their mutual due diligence before announcing a closed deal.