Omega Commercial Finance Corp (OCFN) Financial Statements (2024 and earlier)

Company Profile

Business Address 200 S. BISCAYNE BLVD SUITE 4450
MIAMI, FL 33131
State of Incorp. WY
Fiscal Year End December 31
Industry (SIC) 6153 - Short-Term Business Credit Institutions, Except Agricultural (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2014
12/31/2013
12/31/2012
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments28252
Cash and cash equivalents28112
Short-term investments  140
Receivables 110 
Deferred costs7,508 
Other undisclosed current assets(7,508)(140)
Total current assets:138112
Noncurrent Assets
Property, plant and equipment01
Long-term investments and receivables  
Long-term investments  
Other undisclosed noncurrent assets 140
Total noncurrent assets:0141
TOTAL ASSETS:139253
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:3923
Other undisclosed accounts payable and accrued liabilities3923
Debt74 
Derivative instruments and hedges, liabilities465 
Estimated litigation liability2,3012,301
Customer advances and deposits
Other undisclosed current liabilities1185
Total current liabilities:2,8792,509
Noncurrent Liabilities
Total liabilities:2,8792,509
Equity
Equity, attributable to parent, including:(2,741)(2,256)
Preferred stock, shares subscribed but unissued, subscriptions receivable43,643 
Common stock 585
Additional paid in capital46,9924,069
Deferred compensation equity(101) 
Accumulated deficit(9,360)(6,909)
Other undisclosed equity, attributable to parent(83,913) 
Total equity:(2,741)(2,256)
Other undisclosed liabilities and equity (0) 
TOTAL LIABILITIES AND EQUITY:139253

Income Statement (P&L) ($ in thousands)

12/31/2014
12/31/2013
12/31/2012
Revenues
(Financial Services Revenue)
405259
Cost of revenue(169)(1,054)
Gross profit:237(795)
Operating expenses(2,312)(820)
Other operating expense, net(396)(42)
Other expenses912
Other undisclosed operating income  
Operating loss:(2,471)(1,657)
Nonoperating income (expense)627 
Debt instrument, convertible, beneficial conversion feature627 
Other nonoperating expense  
Interest and debt expense(76)(1)
Loss from continuing operations:(1,920)(1,658)
Loss before gain (loss) on sale of properties:(1,920)(1,658)
Net loss:(1,920)(1,658)
Other undisclosed net income (loss) attributable to parent(551)1
Net loss available to common stockholders, diluted:(2,471)(1,657)

Comprehensive Income ($ in thousands)

12/31/2014
12/31/2013
12/31/2012
Net loss:(1,920)(1,658)
Comprehensive loss, net of tax, attributable to parent:(1,920)(1,658)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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