SOURCE: National Automation Services, Inc.

National Automation Services, Inc.

July 28, 2014 08:00 ET

National Automation Services, Inc. -- Announces $10,000,000.00 Banking Agreement

LAS VEGAS, NV--(Marketwired - Jul 28, 2014) - National Automation Services, Inc. ("NAS") (OTCQB: NASV) announces today that the Company has entered into a five year $10,000,000.00 agreement with a National Bank facilitated by Wellington Shields out of Manhattan.

The agreement which is a straight debt facility (no Company Equity), will be used to retire approximately $6 Million of JD Field Services obligations, leaving the rest for working capital and corporate uses. This is an important step for us on many levels as we now will have the financial strength to fully execute on our overall strategy. This will allow us to purchase additional cranes, trucks, and equipment to further expand operations to our customer base in Utah, Wyoming, Colorado and North Dakota. 

Wellington Shields is a valued financial partner that provides the Company with the capital flexibility to grow in line with its Business Plan. Also, in connection with the Wellington/NAS agreements they have provided important on-going guidance in the process of up-listing to the NYSE planned for later this year.

The additional equipment is estimated to increase yearly revenues from approximately $20,000,000.00 to $24,200,000.00 and increase the bottom line by $840,000.00. Demand for JD's services has steadily increased over the past few years and the additional equipment will help meet those demands.

So far this year NAS has completed the acquisition of JD Field Services and moved to PSA (Purchase and Sale Agreement) stage with both Devoe Contracting, located in the Denver-Julesburg Basin in Colorado and MonDak Tank Inc., an Oil and Gas Service and Construction Company located in Williston, North Dakota.

Devoe Contracting had $15 Million in total sales with net revenues of $2.2 Million in 2013, and employs over 100 employees. They were recently awarded the Prestigious Mercury top 100 fastest growing private companies in Colorado. With more than $1 billion being spent on infrastructure in the Denver-Julesburg Basin, this area is primed for growth.

MonDak Tank, Inc. reported $7.1 Million in total sales in 2013. They are a widely respected contracting outfit in their field and have an excellent management team that will continue on with NAS after the purchase. The U.S. Geological Survey (USGS) recently reported about 7.4 billion barrels of undiscovered, technically recoverable oil in the Bakken and Three Forks formations, which are centered in the Williston Basin of North Dakota, although many experts believe those numbers underestimate the region's full potential.

The expansion of JD Field Services and the mergers of Devoe Construction and Mon-Dak Tank will position the Company to generate projected combined revenues of $46.3 Million and combined earnings of $10.5 Million, before taking into account organic and synergistic growth factors.

Further information about JD Field Services is found on our website at http://www.jdfieldservices.com. For more information about MonDak Tank http://mondaktank.com, and National Automation Services, please visit our website at http://www.nasv.biz.

SAFE HARBOR AND INFORMATIONAL STATEMENT This press release may contain forward-looking information within the meaning of Section 21E of the Security Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statement of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial conditions or results of operations; (iii): the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may", "would", "will", "expect", "estimate", "anticipate", "believe", "intend", and similar expressions and variations thereof are intend to identify forward-looking statements. Investors are cautioned that any such forward-looking statement are not guarantee of future of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the company's registration statement and reports filed with the SEC. The Company claims the safe harbor provided by Section 21E(c) of the Exchange Act for all forward-looking statements.

Contact Information

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