National Automation Services, Inc. Announces S1 Filing
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LAS VEGAS, NV, Oct 23 (MARKET WIRE) --
National Automation Services, Inc. (www.n-a-s-inc.com) (PINKSHEETS:
NASV), today announced that they have completed the S1 Application in
preparation to file with the SEC to become fully reporting.
The Accounting Staff has completed the final S1 Application to be
submitted to the Securities and Exchange Commission. The document will be
submitted pending a final review by the Company's external Auditor. The
filing will include audited financial statements for 2006, 2007, and
first, second, and third quarter results for 2008.
Bob Chance, CEO of NAS, stated: "It has been one of the most difficult
objectives we have ever encountered, as a Company or for me personally.
We have had a team of 4-5 full time accounting staff, add in 2-3 legal
counsel staff, 3-4 on the auditors team, and you can see the tremendous
amount of resources that have been utilized to get this completed. Our
cost for the filing will exceed $700,000.00.
After the quiet period required by the SEC pending the S1 review and
approval, we will be moving aggressively toward the procurement of a
number of acquisition targets that will enhance our bottom line and grow
the company.
My thanks go out to all involved in its preparation including the loyal
Investor base that has hung in there with us for all these months!"
Stay up-to-date with current events by joining National Automation
Services' E-Mail Alert List. Join by clicking the following link:
http://n-a-s-inc.ir.stockpr.com/information-request
ABOUT NATIONAL AUTOMATION SERVICES, INC.
From Hand Production to Automation
Before the Industrial Revolution, virtually all goods were made by hand.
With the Industrial boom of the 1900s, the automation and controls
industry was born to improve the quality and reduce the costs of tedious,
repetitive tasks in the industrial plants.
Immediately after World War II, computers were born, almost entirely for
scientific purposes. By the early 60s, computers began to make their way
rapidly into process control and production. Automated assembly lines took
on more and more tasks, allowing for an increasing number of automated
processes and adjustments. By eliminating tedious tasks usually performed
by hand, the owners of a plant realized higher quality and more output
which improved not only quality but competitiveness as well.
Today's Markets
Automation touches our lives without notice, from the food we eat, to the
clothes we wear, to the building materials we use, and almost anything
else we consume or come in contact with.
Accordingly, the markets of National Automation Services, Inc. are vast.
They include waste/water treatment, airport security systems, bottling
plants, power plants, metals, mining, breweries, food processing, tire
making, textiles, plastics, and virtually all production activities.
Although there are a handful of very large automation and controls
companies, the industry is highly fragmented with about 286 companies of
modest size in the U.S. These companies are privately owned, local in
nature, and total approximately $32 billion in annual gross sales.
A handful of larger automation companies dominate the market as they offer
national, as well as worldwide, support for the Corporate and Government
clients they serve. In total the automation industry in the U.S. exceeds
the $400 billion mark each year, largely serviced by this handful of
firms.
Where We Are Going
NAS intends to build a nationwide company through acquisitions and
internal growth in this fragmented market. We believe that our growing
company will retain healthy margins and produce attractive increases in
earnings per share during the period of this Plan. Our estimate is that
we will immediately produce cost savings of 12-15% on each acquisition,
thereby driving consolidated EBITDA and earnings per share. Furthermore,
NAS, by utilizing the expertise of the group, the sharing of national
contracts, and proven revenue enhancement techniques, has the goal of
doubling the gross sales of each acquisition in the first 12 months of
the date of each acquisition.
The Company currently focuses on:
Industrial Automation and Control. NAS has an experienced staff of
electrical and control engineers, as well as project managers, with
experience in industrial automation and controls. The Company's business
is currently focused in Nevada, Arizona, and Utah, but it intends to
expand through internal growth and acquisitions throughout the U.S.
during 2008.
Automation Manufacturing. The Company is a certified Underwriters
Laboratories Panel fabrication facility. This nationally recognized
regulatory body provides NAS with significant marketplace credibility for
custom control panel assembly and fabrication to its clients.
FORWARD-LOOKING STATEMENT: This press release contains forward-looking
statements, including expected industry patterns and other financial and
business results that involve known and unknown risks, uncertainties and
other factors that may cause our actual results, levels of activity,
performance, or achievements to differ materially from results expressed
or implied by this press release. Such risk factors include, among others:
the sustainability of recent growth rates in the automation controls
industry, the positioning of NAS in the market, the ability to integrate
acquired companies and technology, the ability to retain key employees,
the ability to successfully combine product offerings and customer
acceptance of combined products, general market conditions, fluctuations
in currency exchange rates, changes to operating systems and product
strategy by vendors of operating systems, and whether NAS can
successfully gain market acceptance. Actual results may differ materially
from those contained in the forward-looking statements in this press
release.
CONTACT INFORMATION
National Automation Services, Inc.
Bob Chance
2053 Pabco
Henderson, NV. 89011
(702) 642-7720
INVESTOR RELATIONS:
Draco
1950 Lee Rd
Suite 224
Winter Park, FL. 32789
(407) 475-0788
Or
Equity-Trend Advisors
11995 El Camino Real,
Suite 301
San Diego, CA. 92130
(800) 953-3350
Copyright 2008, Market Wire, All rights reserved.
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