Omega Commercial Finance Corp. (OTCPK:OCFN) entered into an agreement to acquire 97.26% stake in GoGo Baby, Inc. (OTCPK:GGBY) from Malcolm Hargrave, DTH International Corporation and Lisa Foster for $0.3 million on February 24, 2017. Malcolm Hargrave, DTH International Corporation and Lisa Foster will sell 35 million shares, 0.5 million shares and 0.05 million shares, respectively in GoGo Baby. As part of consideration, Omega Commercial will deposit $0.05 million in the escrow and will be released on closing of the transaction. Omega Commercial paid the purchase price from the proceeds of its private sale of 0.16 million shares of its Series Z preferred stock at $2.50 per shares for an aggregate of $0.4 million.

Malcolm Hargrave resigned as GoGo Baby's sole Director and officer and Timothy R. Fussell will serve as President and Chairman of the Board, Todd C. Buxton as Chief Executive Officer and Vice Chairman of the Board and Jon S Cummings IV as Executive Vice President and Director of GoGo Baby. The deal is expected to close on or before March 3, 2017. Jody M. Walker of J. M. Walker & Associates, Attorneys At Law acted as escrow agent for Omega Commercial and GoGo Baby.

Omega Commercial Finance Corp. (OTCPK:OCFN) completed the acquisition of 97.26% stake in GoGo Baby, Inc. (OTCPK:GGBY) from Malcolm Hargrave, DTH International Corporation and Lisa Foster on March 17, 2017.