CEDARHURST, N.Y., Jan. 12, 2005 (PRIMEZONE) -- Consumers Financial Corporation (Pink Sheets:CFIN) ("CFIN"), today announced that it has filed its 10K for the year ended December 31, 2003.
Jack I. Ehrenhaus, Chairman of the Board stated, "It may seem like too little too late to be announcing the filing of financial statements that are nearly one year old. But the filing is significant to our shareholders. The significance is that the financials are certified and represent the first in a series of filings that will bring the company up to date as a reporting company. This will enable CFIN to reapply for listing on the Bulletin Board and thereby by give wider market access for our shareholders. It is also significant because it better enables the Company to upgrade its dialogue with investors since CFIN has had its reporting status be a stumbling block for discussions with various investment groups with which we have had conversations."
CFIN has announced several prospective acquisitions over the past months each of which was contingent upon the availability of investment capital.
Mr. Ehrenhaus further stated, "This is a milestone. The effort to get CFIN into position whereby it might become a reporting company once again was a major stumbling block. I am particularly pleased because the filing will now enable us to move forward with our growth program."
Consumers Financial Corporation is a diversified merchant banking and financial services company dedicated to finding and assessing the value of microcap companies strategically located in markets where significant growth and profits can be obtained. CFIN targets companies where management is exceptional, products are proprietary, techniques, software or technology provide some measure of exclusivity, where profit margins are above average and where these companies can benefit from CFIN's financial assistance either through equity or credit facilities. The Company trades under the symbol CFIN and can be found on the Over the Counter Pink Sheets
This press release includes or may include certain statements, estimates and forward looking projections of the company with respect to the anticipated future performance of the Company. Such statements, estimates and forward looking projections reflect various assumptions of the management of the Company that may or may not prove to be correct and involve various risks and uncertainties including, but not limited to, the risk factors contained herein.