SOURCE: National Automation Services, Inc.

National Automation Services, Inc.

May 01, 2013 13:30 ET

National Automation Services, Inc. and Shareholders Partner to Organize Turnaround

LAS VEGAS, NV--(Marketwired - May 1, 2013) - National Automation Services, Inc. ("NAS") (OTCQB: NASV) today announces new developments and a future outlook for the Company.

Over the past few months, NAS executives, working with core NAS shareholders, have developed a new business model, which addresses past obstacles and provides for sustainable growth. Together, these shareholders represent several million dollars of cash invested into the Company, which means they have a vested interest in seeing NAS achieve a more stable financial footing. At the heart of the new plan is a multi-stage capitalization mechanism, enabling NAS to achieve a position of self-funding as well as be more attractive to institutional financing. The Company will no longer rely exclusively on third-party funding sources, which historically have not been supportive. Stage I of the new plan, which is currently being implemented, is projected to stabilize the Company's financial position and restore its fully reporting status with the SEC.

On April 16, 2013, the past due 10-Q for Q3 2012 was filed, prompting the OTC Markets to remove the "stop" warning sign from the NASV quotation. Presently, the Company's independent auditor and the NAS accounting staff are preparing the 10-K report for fiscal year 2012, which when filed, will be followed by the filing of the Q1 2013 10-Q. This will bring the NAS into a fully compliant status with the SEC, providing prospective investors with a greater assurance of full disclosure of the NAS business activities.

As the Company quickly moves into a fully reporting status, Stage II of the new plan will be implemented. Here, the Company has created a financing mechanism, which enables NAS to self-fund its acquisition program. This is a significant difference from the past, where the Company's acquisition program had been scuttled by predatory lenders and other funding entities that plunder low cap companies hungry for capital. In Stage II of its new business plan, NAS will raise capital internally building reserves to enable it to commit to and close on targeted acquisitions. In this way, it will not have to rely on traditional third-party funders, and it will empower more self-determination in the pursuit of its acquisition business building goals.

Teaming up to guide the new NAS is a reconstituted Board of Directors, whose skill sets and objectives are fully aligned with the new business model. As noted in the Company's 8-K filed May 1, 2013, Jody Hanley, Manuel Ruiz and Robert O'Conner have resigned. Bob Chance and Jeremy Briggs will remain as Board members and has been joined by a new member Sean Sego. Mr. Sego, a graduate from Indiana State University, brings many years of experience in the Financial Services Industry including Ameriprise Financial Services, Waddell and Reed and now serving as Senior Partner at Intrinsic Value Capital Management.

Mr. Sego stated: "I am excited about the opportunity of serving on the Board of Directors of NAS as I believe the Company now has a solid plan in place for growth. With my background I feel I can become an asset not only to the Board but also the Investment Community that has entrusted us with their investment."

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