SOURCE: National Automation Services, Inc.

January 10, 2008 07:00 ET

National Automation Services, Inc. Announces Commencement of Audit in Order to Become an SEC Reporting Company

Audit Estimated to Be Completed by the End of the First Quarter, 2008

LAS VEGAS, NV--(Marketwire - January 10, 2008) - National Automation Services, Inc (PINKSHEETS: NASV) www.n-a-s-inc.com, is pleased to announce it has begun the implementation of one of its previously announced goals of qualifying as a fully reporting company with the SEC, and thereby qualifying for a listing on the NASD Bulletin Board Exchange. Lynda R Keeton CPA firm, a Las Vegas auditing firm specializing in small public companies, began the audit on January 9th, 2008, and anticipates completing the audit by the end of the first quarter in 2008.

The Board of Directors approved Keeton's firm in November's 2007 Board Meeting, and also appointed the Audit Committee headed by Fred Petit, NASV Chairman of the Board, to which the auditors will directly report. Simultaneous with this audit, the Company's SEC counsel will prepare a Form 10, which will be filed in order for the Company to become a fully reporting company with the SEC, and therefore qualify for a listing on the NASD Electronic Bulletin Board. By the time the Company becomes fully reporting, it believes that it will meet the requirements for a NASDAQ or AMEX listing, which will be pursued immediately. The Company's goal is to attain a listing on NASDAQ or AMEX by the third quarter of 2008.

The Company will have both of its current subsidiaries, Intuitive Systems Solutions, Inc. and Intecon Controls, Inc., audited as part of the audit process, and each subsequent acquisition will also be audited in order to be included in the consolidated group. The Company anticipates completing a minimum of five more acquisitions in 2008 and seven to nine additional acquisitions in 2009 in the fragmented automation controls industry.

Robert Chance, CEO of National Automation Services, Inc., in announcing the beginning of the SEC audit, stated: "We at National Automation Services, Inc. are pleased to announce that we have begun the appropriate steps necessary to become a fully reporting company with the SEC. As the Company progresses, and implements its national acquisition strategy, we believe that we will be qualified to move onto the NASDAQ or AMEX exchange by the end of the third quarter. Moving on to larger and more prestigious exchanges has always been the goal of NASV, and we feel that we are on track to meet our goals in this area."

Mr. Chance further stated, "It is exciting to see our business plan become a reality. When we put this on the drawing board over a year and a half ago, it was a dream to become first a public company in order to have access to capital and stock available for the implementation of our acquisition strategy; and second, the management talent, through internal growth and the management of each acquisition remaining with the Company, in place to implement this plan which to date is ahead of schedule. This is evident if you have been following our Press Releases over the past 2 months. We have a well researched plan and we are vigorously pursuing this plan, which should result in enhanced value for all of our 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, and Intecon Controls of Tempe, Arizona. Since its formation National Automation Services has positioned itself as a leading system integrator and UL Certified provider throughout the U.S. The Company has evolved to focus on two district 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. With an experienced staff of electrical and control engineers, as well as project managers, with over 100 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, as well as nationwide in 2008.

Automation Manufacturing. The Company is a certified Underwriters Laboratories Panel fabrication facility. This nationally recognized regulatory body provides NASV with significant marketplace credibility for custom control panel assembly and fabrication to its clients.

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 NASV 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 NASV 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 9966