Replies to post #9318 on Omega Commercial Finance Corp (fka OCFN)

[Hokie]

We have incurred a substantial amount of judgment debt, the affect of which impairs our financial performance and ability to prosper.


We have incurred over $2.3 million of judgment debt due to negative outcomes of the litigation described in the section “Legal Proceedings” and our financial statements for the year ended December 31, 2013 and the nine months ended September 30, 2014. This debt negatively affects our financial performance and ability to borrow additional funds. Consequently, our ability to prosper and implement our business plan is severely hampered.
https://www.sec.gov/Archives/edgar/data/29504/000151597115000166/ocfn10k123114.htm

[Hokie]

We need additional capital in the future which will dilute the ownership of current stockholders or make our cash flow vulnerable to debt repayment requirements.


Historically, we have raised equity and debt capital to support our operations. To the extent that we raise additional equity capital, existing stockholders will experience a dilution in the voting power and ownership of their common stock, and earnings per share, if any, would be negatively impacted. Our inability to use our equity securities to finance our operations could materially limit our growth. Any borrowings made to finance operations could make us more vulnerable to a downturn in our operating results, a downturn in economic conditions, or increases in interest rates on borrowings that are subject to interest rate fluctuations. If our cash flow from operations is insufficient to meet our working capital needs, we could be required to sell additional equity securities in order to meet these needs or satisfy judgments payables. There can be no assurance that any financing will be available to us when needed or will be available on terms acceptable to us. Our failure to obtain sufficient financing on favorable terms and conditions could have a material adverse effect on our growth prospects and our business, financial condition and results of operations.


https://www.sec.gov/Archives/edgar/data/29504/000151597115000166/ocfn10k123114.htm

[Hokie]

ha ha ha...they had to relocate their office to save on rent???...
Our principal executive offices were located at 1000 5th Street, Suite 200, Miami Beach, FL 33139. The term of the lease is month to month and our monthly rent is $95. In addition, we maintained an office at 429 Lenox Avenue, Miami Beach, Florida 33139 on a month to month basis and our monthly rent was $563. We have vacated those premises.


https://www.sec.gov/Archives/edgar/data/29504/000151597115000166/ocfn10k123114.htm

[Hokie]

As of December 31, 2014, the Company had outstanding 119,249,895 shares of common stock, 369,000 shares of Series A preferred stock, 500,000 shares of Series C preferred stock, 97,500 shares of Series D preferred stock, 80,000 shares of Series F preferred stock, 1,000,000 shares of Series G preferred stock, and 1,500 shares of Series 2020 preferred stock outstanding with 362 shares to be issued.