(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.
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