CEDARHURST, N.Y., Oct. 28, 2005 (PRIMEZONE) -- Consumers Financial Corporation (Pink Sheets:CFIN) today announced that its previously approved 1 for 10 Reverse Stock Split shall become effective with the commencement of trading on October 31, 2005. In addition, the Company's Board of Directors approved a dividend of shares in its GS Woodmere subsidiary to shareholders of record as of October 31, 2005.
Jack I. Ehrenhaus, CEO of Consumers, commented: "I am very pleased with the progress that Consumers has made this year, and especially the progress its newly acquired subsidiary, GS Woodmere, has made over the course of 2005. Consumers has realigned its strategic operations in order to execute on its acquisition and growth strategy. We have made great progress in this transformation, and look forward to continued growth into 2006 and beyond as we expand our operations, and increase shareholder value."
About the Company:
Consumers Financial Corporation is a diversified merchant banking and financial services company dedicated to finding and assessing the value of small and developing 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.
About GS Woodmere:
Founded in 2000, GS Woodmere provides management and medical billing services to physicians, physician groups, multi-disciplinary practices, clinics, hospitals, and imaging and neurodiagnostic testing centers. GS Woodmere is equipped to handle all aspects of management and billing that are needed to run a professional medical practice. The company utilized state-of-the-art hardware and proprietary software to meet not only our clients' requirements, but also the flexibility to address the changes and innovations occurring constantly in the healthcare industry.
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.