ALPHARETTA, GA--(Marketwired - Mar 11, 2014) - New America Energy Corp. (OTC Pink: NECA) (PINKSHEETS: NECA), through its wholly-owned operating subsidiary Title King, LLC, which provides short-term high interest loans to consumers through the collateral use of car and truck titles, announces the launch of its title loan program through first issuance.
The Company is pleased to announce the issuance of its first loan under its title loan program. Title King, LLC provides short-term high interest loans to consumers through the collateral use of car and truck titles, and plans to expand a franchise of stores throughout the South East under the Title King brand name.
Jeff Canouse, the CEO of New America Energy Corp., commented, "Although small due to being our first title loan issuance, this marks a major milestone for Title King as it marks our initial launch of our title loan program, and will look to grow our portfolio of working title loans under management in the coming months. In addition, we are moving ahead rapidly in anticipation of opening our first title loan store in Georgia, which will mark a milestone in our plan to expand Title King as a growing franchise of consumer title loan stores throughout the South Eastern United States."
Current Share Structure
As of February 2014, the Company had approximately 300 million common shares issued and outstanding, of which roughly 60 million was held by insiders and thus restricted from sale.
About New America Energy Corp.
Based in Alpharetta 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. With store operations expected to expand throughout the South East, Title King expects to provide short-term loans to a wider reach of consumers. www.titlekingloans.com
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.