Replies to post #7028 on Omega Commercial Finance Corp (fka OCFN)

[Bigjohn6500]

Looks like someone just took out 309,000 in offers at .0024 and .0028

[questionmicros]

The 1:20,000 reverse split effectively reversed out all shareholders:

From the 8K filed on July 7, 2014; Note that it says that there are 25,545 shares issued and outstanding:

On July 1, 2014, Omega Commercial Finance Corp. (the “Company”) received approval from the Financial Industry Regulatory Authority (“FINRA”) of the reverse stock split previously approved by the Company’s board of directors and majority voting stockholder on May 13, 2014. According to FINRA’s approval, the one-for-twenty (1:20,000) thousand reverse stock split will take effect on July 2, 2014 (“Effective Date”). On the Effective Date, the Company’s trading symbol will be changed from “OCFN” to “OCFND” for approximately 20 business days after which it will revert to OCFN. Upon the effectiveness of the reverse stock split, there will be approximately 25,545 shares of the Company’s common stock issued and outstanding. All records of the Company’s transfer agent, Pacific Stock Transfer Company will be updated to reflect the change. Shareholders who hold their shares in brokerage accounts or in "street name" are not required to take any action to effect the exchange of their shares. Shareholders who have existing stock certificates will receive instructions from the transfer agent after the reverse stock split becomes effective.

So you reverse everyone out at 1:20,000 and what is left is 25,545 shares outstanding (these shares are now owned at a price of at least $60.00 per share - and as high as $2,000 per share).

Next you issue yourself 50M Shares, and start the Press Releases (you do have to issue a few shares to Americavest and VeriTrek and a few consultants, but this is just a cost of doing business (keep in mind that these people were issued RESTRICTED STOCK)).

Now, you make the market because you own all the shares, you go on the bid, and any buy orders come to you for stock. On 1M volume for the day, even at $0.002 that is not a bad day for this kind of person. You pocket the money the unsuspecting buyers have "invested."

I am not telling you something you don't already know. If there is another explanation on this one we would be shocked and the first to admit we were wrong.