|By Marketwired .||
|March 17, 2014 04:31 PM EDT||
LAS VEGAS, NV -- (Marketwired) -- 03/17/14 -- National Automation Services, Inc. (OTCQB: NASV) (NAS) announces the next steps to be taken in the execution of its business plan.
On Feb 24, 2014, NAS announced a milestone event when it closed on its first acquisition, JD Field Services, a provider of oil and gas services in Utah. JD Field Services brings to the Company a 3 year historical average of gross revenues in excess of $24,000,000, in 2013 EBITDA approximately $5,700,000, and net assets valued at approximately $7,500,000.
The Company believes that the market has significantly undervalued the stock considering this milestone event and is exploring options to correct what we believe is a current misalignment of share value. Management is specifically considering increasing market awareness through various traditional means including road shows, hiring IR/PR consultants, and leveraging its investment banking relationship. In addition, the Board is considering the merits of a corporate share re-purchase program as well.
Working with its NYSE member investment banking firm, the Company is planning to move its listing to the AMEX stock exchange this year where it will make a secondary or combination public offering of shares to raise capital for debt retirement and the closing of targeted acquisitions that will complement the Company's products and services. NAS believes a move to the AMEX will open its shares to a broader audience of upscale investors.
The spending boom in the oil-and-gas-exploration and hydro-frac business is on the rise. In 2013, oil companies were expected to spend $644 Billion to find and develop new production fields. This year, they are expected to spend $723 Billion, and the trend is rising and is expected to do so over the next 15 years. The United States became a net exporter of petroleum based products in 2011, the first time this has occurred since 1949.
NAS's play in the Domestic Oil and Gas industry puts the Company in the right place at the right time. Management is dedicated to our shareholders and is focused on our efforts to realizing the underlying intrinsic value of its shares. We look forward to announcing milestone events to this endeavor.
National Automation Services, Inc., headquartered in Nevada, is a public holding Company. Visit www.NASV.biz for further information.
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.
National Automation Services, Inc.