SOURCE: National Automation Services, Inc.

National Automation Services, Inc.

April 22, 2014 09:40 ET

National Automation Services, Inc. - Updates Shareholders and Announces Progress on 2014 Revenue Expansion Plan

LAS VEGAS, NV--(Marketwired - Apr 22, 2014) - National Automation Services, Inc. ("NAS") (OTCQB: NASV) is committed to its goal of transparency and improving communications with shareholders and provides the following update on its current share structure. As of April 22, 2014 there are 755,429,014 common shares issued, and 285,301,421 common shares freely tradable in the float.

On February 24th, NAS filed an 8k providing the details of the terms of our first acquisition, JD Field Services. As part of the details in the Purchase and Sales Agreement (PSA), JD Field Services had a 6 month "unwinding" provision to protect itself should NAS not be able to achieve it benchmarks in up-listing and repayment of JD debt.

On March 17th, the company announced that NAS and JD Field Services had amended the PSA to fully execute the acquisition of JD Field Services, accelerating the consideration and making JD Field Services or "JD" a wholly owned subsidiary. The consideration included 118 million shares issued to the 2 principals of JD. The amendment also reduced the share reserve set aside for JD as part of the PSA.

Additionally, the company issued 21 million shares, in restricted form, relating to the execution of our overall financial and growth strategy as previously disclosed. The shares, were used primarily for corporate financing structures, consideration for two long term Investor Relations agreement (which we previously announced), and to a lesser extent two shareholder settlement agreements.

NAS is currently conducting a review of our outstanding share ownership, and believes it can recapture outstanding stock for treasury purposes. If successful, it is anticipated that 4-5% of the 755,429,014 shares outstanding, can be recaptured, essentially increasing shareholder value. 

In addition to the Recapture Initiative, the Company Buyback Program when commenced, will further reduce the amount of outstanding shares and reduce the current float of 285,301,421 shares. Management anticipates that these combined efforts should significantly improve our overall investment profile for NAS shareholders.

The Company is also pleased to announce that it has already begun executing on the 2014 Revenue Expansion Plan announced last month for JD Field Services. The Board of Directors approved the expansion plans for JD, estimated to cost $4.7 Million, as a means to meet the current rising demand for its services. As part of the approval, JD has already completed financing and ordered a $1.3M Grove 275 Ton crane and expects delivery shortly in the next few weeks. NAS is currently reviewing its financing options for the remaining $3.4M needed to complete the expansion plan and will announce this as we near completion of the process. The total investment is projected to increase JD revenues by $6 Million and by $2.7 Million EBITDA annually. These efforts demonstrate NAS's ongoing commitment to increasing shareholder value (without consideration to further acquisitions -- which we hope to announce progress on that aspect of our growth strategy in the not too distant future). 

NAS will continue to attempt to provide similar updates to this one on our progress up until when we have to go thru a "quiet period" due to the "Up listing" activities also previously announced. 

Shareholders should know that this level of communication will cease during the quite period at some point while we are attempting to have our stock traded onto a different exchange and/ or during the planned offering. More information will be forth coming on that part of our plan as we near that execution point, However, the Company will attempt (within compliance to SEC and other Regulatory bodies) to inform the Shareholders before such time begins to the best of its ability.

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
    Email Contact