SOURCE: National Automation Services, Inc.

National Automation Services, Inc.

June 16, 2014 09:00 ET

National Automation Services, Inc. - Announces Acquisition Completion and Audited Financials

LAS VEGAS, NV--(Marketwired - Jun 16, 2014) -  National Automation Services, Inc. ("NAS") (OTCQB: NASV) is proud to announce the completion of the acquisition of JD Field Services following a complete audit of their financials. 

For 2013 National Automation Services Inc., through its wholly owned subsidiary JD Field Services, registered $19.4 million in sales, the adjusted EBITDA was $3.47 million.

Upon the completion of the Audits of NAS's first Acquisition, one of the Company's Directors, Sean Sego, stated, "What an exciting time it is here at NAS as we begin to realize our vision. We've completed a long awaited and burdensome two year audit of our first acquisition. I want to thank the entire Audit and Accounting Team for the hard work exhibited in the completion of the Audits for our new Subsidiary, JD Field Services. Long and exacerbating hours laboring over extensive financial records can be very frustrating and tedious; our Team has exhibited great tenacity in getting these tasks behind us so we can move on to our next acquisition being considered. We have 7 targets within our sights in the Domestic Oil and Gas Production Industry that are in various stages of negotiations. Our goal of adding one to two additional companies to NAS by year's end remains unchanged, building shareholder value for everyone. If we are successful in meeting this goal, we should easily double earnings and grow our top line significantly. We will be a very different company within the next year."

Jason Jenson, President of JD Field Services, commented, "During the first quarter of 2014 the weather presented a bit of an issue for our teams on the ground. Going forward, 2014 is shaping up to be a banner year for both JD Field Services and National Automation Services. We have added sales staff and are already seeing traction in getting new contracts. Additionally, we have cut about $300,000 in corporate level administration expenses by streamlining positions, and are currently working on reducing corporate debt and expect to make an announcement on this in the very near future."

JD Field Services recently won national recognition becoming Oil & Gas Awards 2013 Rocky Mountain Region Heavy Haul Trucking Company of the Year.

With offices in Utah, North Dakota and Wyoming, JD Field Services is poised to take advantage of the increasing oil and gas exploration and production occurring in the middle United States. JD recently added a 2nd crane, at a cost of approximately $1.3 million, to their fleet of 100+ trucks, 170+ trailers, forklifts, pumps, tanks and other equipment.

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.

Contact Information

  • Investor Relations Contact:

    The Olibri Group
    Briggs Smith
    813-438-5225
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