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NuState Announces Corporate Update and Growth Plan
Date : 06/04/2014 @ 11:40AM
Source : PR Newswire (US)
Stock : Nustate Energy Holdings, Inc. (PL) (NSEH)
Quote : 0.001 -0.0001 (-9.09%) @ 12:19PM
NuState Announces Corporate Update and Growth Plan
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Nustate Energy Holdings, Inc. (PL) (USOTC:NSEH)
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Today : Wednesday 4 June 2014
COLUMBIA, S.C., June 4, 2014 /PRNewswire/ -- NuState Energy Holdings, Inc. (NSEH - OTC US) announced today its corporate update.
Kevin Yates, CEO asserted, "As a long standing shareholder of the Company, I fully appreciate the major challenges that our management team must confront.
First, we are fully engaged in re-structuring the onerous debt and the overly complicated equity positions that have prevented the Company from attracting new investment. As set forth in our 8K filed on April 23 2014, we entered into an agreement with ASC Recap, LLC, late last year to help the company with its restructuring objectives. As a result, certain of the Company's creditor obligations have begun to be paid down pursuant to that agreement. We are confident that our re-structuring objectives, including the arrangement of additional funding, will be achieved in the coming months.
Our second priority is to develop a strategic plan that will focus the Company in a new direction that will involve exciting commercial opportunities. Our objective is to refresh our Logistical intellectual property (IP) software and re-build the distribution opportunities we had originally possessed. The validation and verification software IP for the automotive and trucking industry is an intelligent open architecture software solution. We have the most highly evolved, sophisticated integration platform in the industry. Over the next few months, we intend to augment our software, enabling it to support a growing variety of vehicle and container-based data. The result will be a unique and powerful platform that provides total asset visibility and tracking across an entire organization.
I am confident, with a little development work; we can bring it back to market in a reasonably short amount of time. Through organic growth and acquisitions, we intend to build an aggressive but financially sound business.
Our overall goal is to create value for those shareholders that have supported the Company through its difficult years. As the Company achieves these milestones, we will communicate our performance through an active investor relations program designed to inform our current shareholders and to attract new investors."
For more information about NuState, call (803) 748-1309. NuState is located at 1201 Main Street, Suite 1980, Columbia, S.C. 29201.
Safe-Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements 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 condition 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 intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees 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 Forms 10-K and 10-Q filed with the SEC.
SOURCE NuState Energy Holdings, Inc.
Copyright 2014 PR Newswire
