CEDARHURST, N.Y., Aug. 23, 2006 (PRIMEZONE) -- Consumers Financial Corporation (Pink Sheets:CFCJ) today announced that it is continuing in the company's transition strategy to move from the Pink Sheets to the OTCBB and is beginning the process of filing for reinstatement to the Over the Counter Bulletin Board.
As part of that process, Consumers has effectively cancelled all Preferred and/or Convertible shares that were issued in the past.
Jack I. Ehrenhaus, Chairman of the Board, stated, "We are delighted to be able to arrange for the reinstatement of CFCJ stock quotes on the OTCBB. It is a very important move, needed to encourage investor confidence."
Management remains committed to accomplishing its goals and implementing its business strategy by identifying financial options in preparation for the company acquiring ownership interest in growing companies, and commencing an exhaustive search for acquisition candidates.
Consumers Financial Corporation is a diversified merchant banking and financial services company dedicated to finding and assessing the value of micro cap companies strategically located in markets where significant growth and profits can be obtained. CFCJ 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 CFCJ's financial assistance either through equity or credit facilities. The Company trades under the symbol CFCJ 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.