Atlanta, April 19, 2016 (GLOBE NEWSWIRE) -- New America Energy Provides Update on Acquisition and Filing Status
New America Energy Corp. (OTC: 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
Safe Harbor Statement:
Except for statements of historical fact, the matters discussed in this press release are forward-looking, and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements made herein regarding the intent, belief or current expectations of New America Energy Corp. are forward-looking statements that reflect numerous assumptions, risks and uncertainties, many of which are beyond our control, and any of which could cause our actual future results to differ materially from our stated expectations today. Prospective investors are cautioned that our forward-looking statements are never guarantees of future performance. Important factors currently known to management that could cause our actual future results to differ materially from those indicated in our forward-looking statements today include our limited operating history, fluctuations in our operating results, our ability to compete successfully and our ability to attract necessary capital on satisfactory terms. Except as required by applicable law, we undertake no obligation to update or revise our forward-looking statements to reflect changed assumptions, the occurrence of unanticipated future events or changes in our future operating results.
Source:New America Energy Corp.