Why reverse split? Because they have some amount over 750 million shares outstanding I believe and with that many shares out there and so many others holding those shares it's hard to unload a lot of shares during paid promotions when they're pumping news of big things that are about to happen but that never seem to pan out. There's too much competition for what little volume can be generated. Too many others will sell too many shares into the news. If they do a massive reverse split, they can end up with maybe twenty or thirty thousand shares outstanding that will be worth several dollars a share, theoretically. Price will quickly drop though and they can quickly issue a hundred million or more shares to themselves that they can dump or give to creditors, subsidiaries, "third parties" who do work for them, etc. They have no actual employees, except perhaps this new CEO who has actually been with the company forever. He's been a director. He has several other companies, including Bentley Addison, an LLC that he owns with Von Christopher Cummings as the CEO.
Von, or Chris, is the brother of Jon Cummings, the president and former CEO of Omega. Von is no longer technically with OCFN, probably because he was convicted on a massive ponzi scheme he orchestrated and went to the federal pen for a relatively short time. (If you're going to be a criminal, be a white collar criminal.) Restitution on that case was for I believe $8.3 million which I believe he is supposed to pay off at something like $200 a month. The SEC disgorgement on that case was for over $14 million. Bentley Addison was formed just in time for Von's prison release and he was appointed CEO. You will note from OCFN's SEC filings that both Bentley Addison and Todd Buxton have received a lot of shares from OCFN. Von Cummings has too. OCFN is sued a lot, and usually Von Cummings is a defendant because he sets up the shady/fraudulent deals that get them sued acting as an agent for OCFN. He's quite the charismatic salesman.
I'm just giving my opinions here based on research I've done on this company. Maybe I'm wrong. Maybe Todd Buxton will change everything, but I suspect if that were going to happen he'd have done it a long time ago and that appointing him CEO was just for appearances. These guys have been working together, conspiring together in my opinion, for a long time.
Good luck.
