Replies to post #2251 on National Energy Services Inc. (fka NESV)

[Hogan$1]

CG.. I dont believe there is much if any convertible notes remaining. The last I heard is that any necessary funding was being done with Notes with interest only and no convertible options. The following was from an older press release "The Company would like to reaffirm to its shareholders that there is no harmful debt outstanding which could negatively impact the Company's share value. Many have expressed concern that there may be harmful debt with conversion features still outstanding from such creditors as Asher Enterprises, Trafalgar Capital, TriPod Group, etc. This type of debt often leads to short selling of the stock to reduce the effective conversion price, thus inhibiting upward progress in share valuation. These debts were settled throughout 2012 and 2013 and no such remaining debentures and convertible notes currently exist on the Company's books. The Company advises that any future financing in the execution of its business plan will be completed with non-harmful mechanisms using restricted shares, with additional restrictions on the percentage of stock that can be sold using a "leak out" provision. It is the Company's long-term mission to not only build shareholder value but to protect such gains from predatory market influences"

Maybe whoever is talking to the CEO can confirm this. It was mentioned that the buyback was being funded with a possible mez. loan. I would bet there is no conversion because it would defeat the purpose of the buyback..

[DragonBear]

aren't the sources a choice between dilutive stock issuances and delayed-dilutive convertibles financing?

As just posted, the convertible notes pays the office bills. The acquisitions are paid by stock. Where JD is a good example.

The result is having the stock issuance increase from 336M at the end of 2012 to 615M at the end of 2013, or an +83% increase. This stock is set up for a dump-a-rama as the 2013 issuance comes off of restriction. As previously posted, if one adds up known issuances to total stock outstanding, the actual float being held by retail is probably just a few million at this point in time.

The scenario shaping up is management is sort of promising an up listing late in the year. Current stock price at 03. A mega dump-a-rama coming up. Question: Can retail "investors" absorb the hit of a potential massive dump, and bid the PPS up to $3, and keep it there? If not, then the stock hasn't met minimum PPS up listing requirements. Since that's unlikely, the only other possibility is a R/S by management. Currently it would have to be 100:1. But it gets better... there are also multiple acquisitions management is promising for up listing. How to pay? Issue more stock. So the R/S would end up higher than 100:1. Hypothetical example: buy 1M shares today, and end up with 5K after the R/S. One then has to hope PPS, and just as important volume stays up, else no up listing.

[integral]

NASV released on February 28, 2014 via press release the following:

LAS VEGAS, NV, Feb 28, 2014 (Marketwired via COMTEX) -- National Automation Services, Inc. (OTCQB: NASV), announced today it has executed its first acquisition.
On Monday February 24th, 2014, NAS completed the purchase of JD Field Services and its subsidiary have over 100 employees with a three year historical average of sales in excess of $24,000,000 and estimated $19,000,000 in assets. They are a mid-sized service provider (providing services such as Roustabout, water services, rig haul, and trucking services) to the oil and gas industry operating in the Rocky Mountain region and North Dakota shale play region. An 8-K was filed with the SEC on Tuesday February 25, 2014 with all details relating to the purchase agreement.

Notice the registrant filed Form 8K under Item 1.01, not Item 2.01.

Item 1.01 is "Entry into Material Agreement", Item 2.01 is "Completion of Acquisition...".

Note the press release is deficient and deceptive, where by the press release is quoted: "...NAS completed the purchase of...".

Further in the press release, it is quoted: ..."with all details relating to the purchase agreement."

Entering into a "purchase agreement" and a "completed" acquisition are two different action items, hence the registrants 8K filing under Item 1.01 and not Item 2.01.

With my prior post about contingencies in the "Letter" by Wellington to the registrant, the contingency has yet to be met.

Therefore, the registrant is using deceptive means of mails and other electronic devices to mislead investors.