New America Energy Corp (OTCMKTS:NECA) Transition Into A Holdings Entity
New America Energy Corp (OTCMKTS:NECA) via its subsidiary Title King, LLC conveyed the third step of its 3-step investor-confidence plan, following which it intends to transition into a holdings firm.
New America Energy announced that it is extremely delighted to plan this strategically-timed business move, since a Holdings firm immediately places firm to fully realize existing development endeavors and now growing prospects in thrilling new divisions. It has started with the legal course to turn into a Holdings Firm simultaneous with the entity recently selecting a Director of Acquisitions.
Jeffrey Canouse, who is the CEO of New America, stated that they personally view that this planned third measure in the investor confidence strategy is by far the most exhilarating and poignant. After firm’s past many weeks of corporate advancements and presently with a Director of Acquisitions linking with their executive management schedule, they came to a conclusion that the firm should better be a Holdings firm.
This initiative will help the company to better cash on the different prospects that it is exploring in buzzing sectors. The objective is to begin closing acquisitions that straightaway showcase a rapid jump in firm’s bottom and top-line performance. By becoming a true Holdings entity, they consider that their competence to utilize capital structure funds will enable them amplified flexibility to notable acquisitions. The firm also released updates pertaining all phases of the recently accomplished investor-confidence strategy.
New America is obligated to drop of 1 billion shares and a standstill deal of 90-day with creditors. All communication has been done with the Nevada SOS to complete the drop of 1 billion share. The creditors are extremely committed to the contract. Beyond this period, New America is hopeful to be dependent on non-dilutive revolving-credit capital for the majority of finance needs.
The firm intends to close 111 million shares from the outstanding. They have been coordinating with their Transfer Agent to get stock back to treasury.© Copyright 2016 OTC News Magazine. All rights reserved.