Consumers Financial Announces Growth and Development Goals; Plans OTC Bulletin Board Listing
09 August 2004 - 5:34PM
PR Newswire (US)
Consumers Financial Announces Growth and Development Goals; Plans
OTC Bulletin Board Listing CEDARHURST, N.Y., Aug. 9
/PRNewswire-FirstCall/ -- Consumers Financial Corporation (OTC Pink
Sheets: CFIN) ("CFIN") today announced that it has completed its
strategic business plan and its corporate reorganization and is in
position to move forward. Jack I. Ehrenhaus, Chairman of the Board,
stated, "Since the time that President Donald J. Hommel and I took
control of CFIN, we have been busy looking for strong acquisitions
and cleaning up regulatory matters. We plan to file for an OTC
Bulletin Board listing later this month and expect some major
announcements in the near future." Mr. Ehrenhaus further stated,
"CFIN has been reorganized to operate as an investment holding
company with financing operations. Our objective is to acquire,
through investment, interest in companies where there is a solid
business model, strong management and financing opportunities. If
successful, we will add to the company's portfolio businesses that
have solid profit margins, unique technology and growth potential
that will materially benefit from modest infusion of capital or
credit facilities. We will rely upon Mr. Hommel and my substantial
business experience and network of resources to find, acquire,
finance and manage businesses that we believe will add value to
shareholder holdings. We believe we have a unique space in the
business mix because we can and will move into ownership position
with small companies before they appear on the radar screen for
larger companies in the acquisition mode." CFIN is a 40-year-old
financial lending organization that was substantially dissolved
when previous management reached retirement age. Ehrenhaus and
Hommel took control with a mission to acquire companies where
management is exceptional, products are proprietary, profit margins
are above average, and where these companies can benefit from
CFIN's financial assistance, either through equity or credit
facilities. Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995 This press release includes certain
forward-looking statements within the meaning of the United States
Private Securities Litigation Reform Act of 1995. These statements
are based on Consumer Financial's management's current expectations
and are subject to risks and uncertainties and changes in
circumstances. All forward-looking statements included in this
press release are based upon information available to Consumers
Financial as of the date of the press release, and it assumes no
obligation to update or alter its forward-looking statements
whether as a result of new information, future events or otherwise.
Further information on the risks that could affect Consumer
Financial's results of operations is detailed in its filings with
the United States Securities and Exchange Commission, including the
Annual Report for the year ended December 31, 2003. DATASOURCE:
Consumers Financial Corporation CONTACT: Howard A. Scala,
President, Wall Street Communications, Inc., +1-800-338-9338, for
Consumers Financial Corporation
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