SOURCE: National Automation Services Inc

National Automation Services Inc

June 09, 2010 22:07 ET

National Automation Services, Inc. Operations and Investor Update

LAS VEGAS, NV--(Marketwire - June 9, 2010) -  National Automation Services, Inc. ("NAS") (www.NASAutomation.com) (PINKSHEETS: NASV), a public holding company focused on designing, engineering, installing and maintaining automated control systems, provides current details on Proposals, Contracts Awarded, Backlog and Market Status.

Proposals:

  • The company has $1.3 million currently "bid waiting -- a notice of results from the potential customer of whom, contracts are awarded" (bid award).
  • Currently there is $656 thousand in contracts being proposed in the next 30 days.

Contracts Awarded:

  • NAS has been awarded $1.4 million in contracts to date.

Backlog:

  • NAS currently has a back log of $1.2 million in contracts.

Market Status:

  • NAS announced elevation of its trading status from the standard Pink Sheets to the OTCQB. Originally the Company was seeking to move to OTCBB but has decided the OTCQB offered a much more sophisticated and modern trading platform.

Bob Chance, CEO of NAS stated, "We have moved from the Pink Sheets to the OTCQB based upon the criteria set forth by the OTC Market. Our decision not to pursue the Bulletin Board was made very recently when it was apparent change is in the wind for OTCBB. The market was created in 1990 as part of the Bank reform act, but the technology is outdated and this is why most companies are dually listed on the OCTBB Market and on OTCQB, because of the advancement of technology which allows dealers and traders to electronically make trades easier and faster."

For more information, please see the link here:

http://www.nasautomation.com/Suggested_OTCBB_Articles.html

About National Automation Services, Inc.:

National Automation Services, Inc. headquartered in Nevada, a Corporation with wholly owned subsidiaries in Arizona and Nevada, designs, manufactures, and programs Automation and Control Systems. View our technical skills, project history, and key personnel at www.NASAutomation.com.

FORWARD-LOOKING STATEMENT: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the ability to obtain the additional working capital which NAS needs; the ability to locate suitable companies to acquire and then integrate such acquired companies, if any; the ability to retain key employees; the ability to successfully combine product offerings and customer acceptance of combined products; general market conditions; changes to operating systems and product strategy by vendors of operating systems, and whether NAS can successfully gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release. References herein to "NAS," "National Automation Services," "the Company," "we," "our" and similar words or phrases are references to National Automation Services, Inc., unless the context otherwise requires.

Contact Information

  • CONTACT INFORMATION

    National Automation Services, Inc.
    Marketing Manager
    2470 Saint Rose Pkwy Ste 314
    Henderson, NV 89074
    Phone: 702-487-NASI (6274)
    Email Contact