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Judgments Payable
9 Months Ended
Sep. 30, 2013
Commitments and Contingencies Disclosure [Abstract]  
Judgments Payable

NOTE 12. JUDGMENTS PAYABLE

 

The Company currently has three judgments against it. Included in the accompanying balance sheets at September 30, 2013 and December 31, 2012 is $2,300,948 stemming from the following lawsuits.

 

Sebaco Siete, S.A. v. Omega Realty Partners, LLC, et. al. 11th Judicial Circuit in and for Miami-Dade County, Florida. Case No.: 06-11204 CA 13 FJ. A default judgment against impleader defendants in the amount of $1,564,832 was filed in 2009.

 

Jorge Ramos v. Omega Capital Funding, LLC, et. al. in the circuit court of the 11th Judicial Circuit in and for Miami-Dade County, Florida. Case No.: 07-38288 CA 09. A final summary judgment was filed in 2009 in the amount of $85,000.

 

Luxury Home LLC v. Omega et. al. Case No.: CV2011-004554. A default judgment in the amount of $651,116 was filed in 2012 for a previous year’s claim.