*** NECA NEWS 4-19-2016 ***
New America Energy Provides Update on Acquisition and Filing Status
New America Energy Corp.
3 hours ago
GlobeNewswire
Atlanta, April 19, 2016 (GLOBE NEWSWIRE) -- New America Energy Provides Update on Acquisition and Filing Status
New America Energy Corp. (NECA), through its wholly-owned subsidiary Title King, LLC, announces Corporate update on the company’s pending acquisition and efforts to bring the Company back to OTC Pink Current status.
Acquisition: After receiving the first round of due diligence from the target acquisition and retaining Investment Banking firm Moody Capital, the Company is looking to accelerate the process and get to definitive documents as quickly as possible. In the coming weeks the Company will schedule an onsite visit to all three locations with their Banking team to review inventory and current loans outstanding. Jeffrey Canouse, CEO, commented, “I’m excited to visit all three locations, meet the employees, look at the inventory and help move this acquisition to definitive agreements”
Filing Status: Over the past several weeks, management has been working diligently to gather all records for their accountants in order to get the past two quarters filed and return NECA to OTC Pink Current Status. Jeffrey Canouse, CEO of New America, commented, “I am extremely proud to say that all records and financials were delivered to our accountants last week and I expect that the Company will return to Current status in the very near future. It's a huge step for us to get caught up with our financials as this is part of our end goal, which is to return to a fully reporting status with the SEC. Something I believe is attainable in the foreseeable future."
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. 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
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