SOURCE: National Automation Services, Inc.

National Automation Services, Inc.

November 06, 2014 10:32 ET

National Automation Services, Inc. -- Milestones Met and Operations Update

LAS VEGAS, NV--(Marketwired - Nov 6, 2014) -   National Automation Services, Inc. ("NAS") (OTCQB: NASV) Management wishes to provide guidance to its Shareholders and Strategic Partners on the achievement of key milestones in the execution of its business plan during 2014 to date and to state its current objectives for fourth quarter 2014 and first quarter 2015.

The acquisition of JD Field Services in March was pivotal. Not only did it add $20 Million of revenues (before costs) to NAS (based on the revenues of JD Field Services for the year ended December 31, 2013), it created a platform from which a unique, timely and dynamic enterprise could be launched. Effectively catching the wave of the booming domestic Oil & Gas business, NAS has quickly moved to assemble a stable of profitable oil and gas service companies with a view toward creating a national footprint to service the oil and gas Industry. The goal is to build an all-inclusive servicing company, which can offer a well-rounded servicing platform to prospective clients. 

By July, the Company had successfully entered into Purchase and Sale Agreements with two additional acquisitions, MonDak Tank and Devoe Construction, which together contribute an additional $22 Million based on historical averages provided by MonDak Tank and Devoe Construction, to NAS's top line which will, if confirmed in the financial statements of MonDak Tank and Devoe Construction, make NAS an estimated $42 Million revenue company once completed. The Devoe and MonDak are subject to closing conditions and are anticipated to be closed early next year.

The $10 Million debt financing previously announced by the Company is currently in negotiations with several different lenders. The Company has entertained many term sheets with a focus on carefully selecting the right group to enhance current funding needs, as well as sharing visions of growth for the future, which include funding needs to complete the two new acquisitions. Although delayed, it is expected, but not guaranteed, to be concluded in the very near future.

While our accomplishments give the company credibility, our future depends on what we do going forward. As of this writing, the Company has prepared the NYSE Markets application, which will be submitted once the anticipated recapitalization process is completed, currently undergoing regulatory review.

Current operations by JD Field Services have continued to be robust throughout the 3rd quarter. Clients have not shown any signs of a drop in activity to date. Given recent pressure on world oil production and prices, we have carefully polled our customer base and indications are activity levels will continue at current levels, and in some cases will actually increase with more rigs being added by some producers. JD Field Services has responded to the demand by adding more resources to meet the demands, especially in the rig moving and set-up crews. This includes the addition of a new 275 ton Grove Crane, the second being purchased this year, which has been ordered and delivery of the unit is expected to be onsite next week. Invoice amount for the Grove Crane is $1.9 Million. 

For further information about National Automation Services, Inc., visit National Automation Services, read our SEC filings at NASV SEC Filings and subscribe to Email Alerts at Subscribe Today (bottom of the web-page) to receive company news and shareholder updates.

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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    Briggs Smith
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