ATLANTA, GA--(Marketwired - Nov 16, 2016) - New America Energy Corp. (OTC PINK: NECA), through its wholly-owned subsidiary Title King, LLC, proudly initiates the second step of the new three-step investor program by announcing a Share Repurchase Program and the retirement of 111 million shares of common NECA stock.
The Company is currently working with the NECA Transfer Agent and our legal team to retire the 111 million shares from the public float and return the stock back to NECA Company Treasury. The Company believes that completing this action adds immediate shareholder value as corporate valuations are performed with a smaller Outstanding Shares figure.
Regarding the Share Repurchase Program, all future purchases may be made in the open market, structured repurchase programs, or in privately negotiated transactions, subject to availability. The share repurchase program does not obligate NECA to acquire any amount of common stock, and the program may be suspended or discontinued at any time.
NECA CEO Jeffrey Canouse stated: "In NECA's last PR The Company announced that 'aggressive endeavors are underway' to ensure minimal or even no issuances are necessary after the 90-day period is over. The most immediate of these endeavors is a revolving, non-dilutive Line Of Credit (LOC) that The Company is on the brink of securing. The Board and I believe strongly that it is this LOC that will enable our disruptive business model while beginning the Share Repurchase Program in earnest. We simply do not believe our current stock price reflects the value of our business today and feel that the combination of our financial position, market expertise, and strategic investments will allow us to create greater shareholder value in the quarters ahead."
The Company is excited to announce our third step in our new Investor Program shortly.
About New America Energy Corp.
Based in Atlanta GA, through its title loan subsidiary, Title King, LLC, provides short-term high interest loans to consumers through the collateral use of car and truck titles. The Company operates in the alternative financial services industry, providing automobile title loans to consumers who own their vehicle free and clear and need convenient and simple access to funds. Other products offered in this industry include other forms of consumer loans, check cashing, money orders and money transfers. Consumers who use alternative financial services are often referred to as "underserved" or "underbanked" by banks and other traditional financial institutions. The Company is also exploring additional business opportunities including joint-venture partnerships and acquisitions. www.titlekingloans.com
Photos of our Title Loan store can be viewed on our Twitter account at
Photos are also available on the Company Facebook account at
Safe Harbor Statement:
Except for statements of historical fact, the matters discussed in this press release are forward-looking, and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements made herein regarding the intent, belief or current expectations of New America Energy Corp. are forward-looking statements that reflect numerous assumptions, risks and uncertainties, many of which are beyond our control, and any of which could cause our actual future results to differ materially from our stated expectations today. Prospective investors are cautioned that our forward-looking statements are never guarantees of future performance. Important factors currently known to management that could cause our actual future results to differ materially from those indicated in our forward-looking statements today include our limited operating history, fluctuations in our operating results, our ability to compete successfully and our ability to attract necessary capital on satisfactory terms. Except as required by applicable law, we undertake no obligation to update or revise our forward-looking statements to reflect changed assumptions, the occurrence of unanticipated future events or changes in our future operating results.