SOURCE: National Automation Services Inc

October 23, 2007 09:00 ET

Intuitive System Solutions Inc. Completes Entry Into the Public Market as Part of Its Continuing Growth Strategy

Company Forms Public Holding Company to Effectuate Its Acquisition Strategy; Company Projects Gross Revenues From ISS Operations and Acquisitions to Be Approximately $4,544,094 in 2007 and $25,780,982 in 2008, With Net Income of $1,781,668 and $16,190,755 in Each Year

LAS VEGAS, NV--(Marketwire - October 23, 2007) - National Automation Services Inc (PINKSHEETS: NASV) (www.n-a-s-inc.com), and its wholly owned subsidiary Intuitive System Solutions, Inc., are pleased to announce their entry into the public market, with the public holding company trading under the symbol "NASV.PK." Intuitive System Solutions Inc. ("ISS" or the "Company") (www.isscontrols.com), since its formation in 2001, has positioned itself as a leading system integrator and UL Certified panel facility serving large corporate and government clients in the western United States. The Company has evolved to focus on two distinct lines of business. Each of these lines is linked to the foundation of the business -- integrated and automated systems controls.

The Company currently focuses on:

Industrial Automation and Control. ISS has an experienced staff of electrical and control engineers, as well as project managers, with over 80 years combined experience in industrial automation and controls. The Company's business is currently focused in Nevada, Arizona and Utah, but it intends to expand through internal growth and acquisitions into California, Texas and New Mexico and other western states during 2007 and 2008. From this segment of the business, ISS is projected to realize $4 million of gross revenues in 2007 and increase the gross revenues from this division to over $21 million in the next two years. As an example of the type of services provided by ISS in this division, a major national airline utilizes ISS extensively for automation projects at Las Vegas McCarren International Airport. These projects include automation of the baggage handling systems and scan array for bomb detection systems. This airline, as well as other national and regional airlines, has approached the management of ISS to service all of the airports served by them in the western US.

Automation Manufacturing. The Company is a certified Underwriters Laboratories Panel fabrication facility. This nationally recognized regulatory body provides ISS with significant marketplace credibility for custom control panel assembly and fabrication to its clients. From this segment of the business, ISS is projected to realize $1 million of gross revenues in 2007 and increase the gross revenues from this division to over $4 million in the next two years. Building and integrating custom control panels for clients are types of services provided by ISS in this division.

The principals of ISS saw the need to build a large regional specialist automation company capable of servicing the needs of clients in several cities simultaneously. Rather than grow such a company internally, management has elected to form a public holding company to acquire various unique automation companies in the Southwestern portion of the United States. NAS, the public holding company, has acquired, in a stock for stock exchange, 100% control of ISS and received an infusion of $1,000,000 from its founding investors in order to further this expansion. The final step was to increase the state licensing capacity of ISS from $250,000 to $2 million so that ISS could handle much larger and profitable developments in the future. This increase was applied for in late June and was granted on July 9, 2007. Since the increase of this licensing capacity, the Company has successfully received awards totalling over $3,000,000. The Company is now bidding on approximately $10,354,540 of additional jobs for which it previously did not have the licensing capacity to compete for. Simultaneously with this internal growth strategy, the Company has held acquisition discussions with automation control companies located in Southern California, Phoenix, San Francisco and Denver. It is anticipated that at minimum two of these acquisitions will be completed prior to the end of the year, and thereby increase gross revenues of the consolidated group by $15 million per annum, with a net profit exceeding $2.5 million.

In discussing the Company's entry into the public marketplace, Bob Chance, CEO of NAS, stated, "Our sole reason to enter the public marketplace was to enhance our ability to grow much more rapidly into a major regional automation controls company through utilizing public stock to make acquisitions, where the management of the company we are acquiring remains with the Company, and for ease to additional capital when needed at a much lower rate and with much less dilution than if we remained private. We will utilize our unique market position to promote our services and exploit growth opportunities, which will result in a substantial return to our public shareholders."

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ABOUT NATIONAL AUTOMATION SERVICES, INC.

National Automation Services Inc is a public holding company for specialized automation control companies located in the Southwestern United States. The Company presently owns 100% of the stock in Intuitive System Solutions Inc. ("ISS") of Las Vegas, Nevada. Since its formation in 2001, ISS has positioned itself as a leading system integrator and UL Certified panel facility. The Company has evolved to focus on two distinct lines of business. Each of these lines is linked to the foundation of the business -- integrated and automated systems controls.

NAS projects achieving gross revenues in 2007 of $4,544,094, with a net pre-tax income of $1,781,688. Through an acquisition strategy that encompasses a minimum of one major acquisition per quarter, as well as through internal growth of ISS, due to its recently granted increase in licensing capacity to $2 million per project, the Company should increase gross revenues to $25,780,972 in 2008, with net pre-tax income of $16,190,755. With a total of 40 million shares outstanding the management of the Company projects earnings per share of $0.03 in 2007 and $0.27 in 2008.

FORWARD-LOOKING STATEMENT: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the sustainability of recent growth rates in the automation controls industry; the positioning of NAS in the market; ability to integrate acquired companies and technology; ability to retain key employees; ability to successfully combine product offerings and customer acceptance of combined products; general market conditions, fluctuations in currency exchange rates, changes to operating systems and product strategy by vendors of operating systems; and whether NAS can successfully gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release.

Contact Information

  • CONTACT INFORMATION

    National Automation Services Inc
    Bob Chance
    2053 Pabco
    Henderson, NV, 89011
    (702) 642-7720

    Investor Relations Contact:
    David Donlin
    The Cervelle Group
    238 N. Westmonte Drive
    Suite 210
    Altamonte Springs, FL 32714
    (407) 475 9859

    Marla H Breland
    Sr. Vice President
    Sales & Issuer Services
    Knobias, Inc.
    Office: 601-978-3399 x155
    Cell: 601-937-6706
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    www.knobias.com
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