MIAMI, FL--(Marketwired - Aug 3, 2016) - Omega Commercial Finance Corporation (
Dr. Mark Feanny, MD, age 43, issued the company a Promissory Note for $500,000 in consideration for Common Stock Warrant coverage with a monthly interest payment paid with Series Z Preferred Stock and/or cash at the discretion or Mr. Feanny. The funds are held in Omega's escrow account and designated to cover the cost of updating the company's financial statements and any other working capital needs. In addition, Dr. Feanny and Omega are working on implementing a strategy to expand a key company within the medical field founded, owned and operated by Dr. Feanny. The operations have generated revenues of $10 million for the year 2015. Dr. Feanny is a licensed physician trained in general and trauma surgery at the Michael E. DeBakey Department of Surgery at the Baylor College of Medicine located within the Texas Medical Center. Nearly a decade ago, Dr. Feanny shifted his primary clinical focus to emergency medicine and in March 2010, founded America's ER, a recently developed outpatient model providing community-based emergency room services typically only found in hospitals. To improve the competitive advantage of America's ER in what has become one of the fastest growing sectors in healthcare, Dr. Feanny has taken this Free Standing Emergency Department ("FSED") model and improved it by combining the FSED with an urgent care facility, outpatient imaging and laboratory as well as a host of other primary care services all provided within one location. His "hybrid" facility has captured the attention of the industry and has become the new standard in the FSED marketplace. Dr. Feanny has served as the company's Chairman and Chief Executive Officer since founding America's ER in 2010. FSEDs are either privately owned or can be owned by large healthcare organizations and are located away from traditional hospital campuses. Prior to founding America's ER, Dr. Feanny in addition to practicing medicine, was involved in structuring and implementing a variety of physician joint venture projects, served as CMO and managing director for numerous corporate entities, and has created his own real estate development firm. He also served as CEO of an FSED company founded by one of the original architects of the industry prior to founding America's ER. Dr. Feanny received his M.D. at the University of Texas Medical School and holds a B.S. degree in Neuroscience and a Psychology degree from Texas Christian University.
Dr. Fussell, age 52, has over thirty years' experience as a financial strategist, working with both individuals and entities in the financial planning, capital raising and merger and acquisition sectors. In 2012, Dr. Fussell founded Partners South Estate Planning, Inc., a Florida-based financial and estate planning firm and has been serving as its President. He has built the company into a nationally recognized firm within its field. Since 2006, Dr. Fussell has also served as President of Fussell Insurance and Benefits, LLC a Florida licensed insurance brokerage, which he founded as an adjunct to his financial planning business. For over 20-years prior thereto, Dr. Fussell was a principal of T.R. Fussell, Inc., a North-Carolina-based financial and estate planning firm. Mr. Timothy Fussell, PhD has brought "Omega IM Group LLC" to the table for OCFN and has created a niche marketing tool that uses his contacts in the insurance industry coupled with his portfolio of high net worth clients. One of his clients has brought a $650,000 capital injection into Omega FLK Property, a subsidiary of OCFN to reposition a 21-unit hotel resort with a 10 boat-slip marina located in Marathon Keys to a premier 3 diamond plus boutique destination resort.
Todd C. Buxton, CEO of OCFN, states," The addition of these well established and successful business professionals have brought increased creditably to our organization. More importantly, it debunks the historic line of thinking or negative perception often applied to some operations trading as a OTCPINK company that one does not possess the ability to attract qualified board members and qualified officers."
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) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. 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.