MIAMI, June 26, 2017 (GLOBE NEWSWIRE) -- As previously disclosed on February 24, 2017, Omega Commercial Finance Corporation (OTCPINK:OCFN) acquired Gogo Baby, Inc., which is itself a publicly traded company.
Gogo Baby, Inc. has been renamed Alpha Investment, Inc. (OTCPINK:ALPC) and will primarily raise and provide lending capital for OCFN’s subsidiaries, including Omega Capital Street and Omega IM Group. This capital will also be utilized to fund seasoned lenders through a Lender-to-Lender “Cost of Funds” lending model containing built-in risk tolerances within the CMBS, Alt A, Bridge, and Hard Money lending product lines. Another OCFN subsidiary, Omega Asset Management LLC will also benefit from this capital raising arm by receiving capital to acquire existing secured asset-backed loans known as (SABL’s).
The capital raising platform model will have key fundamentals, which management believes will be attractive to institutional investors. Such key attributes include a clean balance sheet containing no long or short-term debt obligations or derivative liabilities. Additionally, ALPC has a tightly held shareholder base that will be thinly traded with a free trading shareholder base of less than 2% of the outstanding stock. These fundamentals will be maintained in order to execute a defined strategy to support its various synergistic sister companies, which are all vertically integrated to provide the various operations with tremendous growth capital opportunities.
Alpha Investment Inc. is led by Timothy R. Fussell, PhD, as Chairman of the Board and President, and Todd C. Buxton as CEO and Vice Chairman. This new management structure will construct, implement and coordinate the various tactical operations necessary to fundamentally create shareholder value to both ALPC and its parent company, OCFN.
Omega Commercial Finance Corporation is a publicly traded financial services holding company with our principal companies operating in the commercial real estate, finance, and capital markets sector. As a holding company, OCFN collectively along with its subsidiaries' management teams have a combined 150 years of experience and knowledge across their respective business lines. Key subsidiaries are Omega Capital Street LLC, Omega IM Group LLC, Omega Asset Management LLC, Omega FLK Properties LLC, and Alpha Investment Inc.
This release contains 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 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) our expectations regarding revenues and earnings; (ii) our growth strategy and operating strategy; and (iii) our ability to attract new registered representatives. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential," "project" and similar expressions 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 and that actual results may differ materially from those projected in the forward-looking statements.
Source:Omega Commercial Finance Corporation