SOURCE: National Automation Services, Inc.

National Automation Services, Inc.

April 03, 2014 09:35 ET

National Automation Services, Inc. - Announces $1.33 Million Share Buyback Program

LAS VEGAS, NV--(Marketwired - Apr 3, 2014) - National Automation Services, Inc. ("NAS") (OTCQB: NASV) announces the Company's Board of Directors has approved a $1,330,000 share buyback program. 

The buyback program will be funded either through operating revenues and/ or mezzanine financing, once the final structure, financing, and implementation plans are approved by the Board of Directors, the Company will begin repurchasing shares in the open market.

Company President/CEO Bob Chance stated, "The Board of Directors feels that the current share price of NAS' common stock falls far short in recognizing JD Field Service's current and future earnings potential, and thus believes its next investment should be in NASV. This move brings NAS one step closer to our scheduled up list to the AMEX or NYSE later this year, which is an important goal of ours."

Accordingly, the Board has approved a plan that will embark on a campaign to build shareholder awareness coupled with the re-purchase program to buy back outstanding shares of its common stock. This move is designed to reduce overall shares in the open market while taking advantage of the under valuation that the common stock is currently trading at today.

On February 28th, 2014 NAS announced the completed acquisition of JD Field Services and its subsidiaries. JD Field Services brings to the Company a 3 year historical average of gross revenues in excess of $24,000,000, in 2013 EBITDA approximately $5,700,000, and net assets valued at approximately $7,500,000. 

On March 24, 2014 NAS announced that the Board of Directors approved a plan to infuse $4,700,000 into JD Field Services for expansion. The reinvestment will be to purchase new trucks, cranes and 18 wheel tractor/trailers along with adding the personnel needed to support expansion. This expansion is expected to increase JD Field Service's gross sales by $6,000,000 per year and increase bottom line profit by $2,700,000 per year.

The Company plans to further exploit and ride the upward trajectory of the Domestic U.S. Oil & Gas Industry. It is presently in the process of vetting additional Oil & Gas industry candidates, which are in various stages of negotiation.

The spending boom in the oil-and-gas-exploration and hydro-frac business is on the rise. In 2013, oil companies were expected to spend $644 billion to find and develop new production fields. This year, they are expected to spend $723 billion, and the trend is rising and is expected to do so over the next 15 years. The United States became a net exporter of petroleum based products in 2011, the first time this has occurred since 1949. 

Additionally, the development of the Keystone Pipeline that is planned will be the vehicle which will deliver oil and natural gas supplies from the rapidly developing shale producing States of Wyoming, N. Dakota, Utah, and W. Texas to the Gulf Coast Refineries and Ports for exports to other nations.

Further information about JD Field Services is found on our website at http://www.jdfieldservices.com. For more information about 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.

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