After announcing that they acquired an oil & gas trucking provider last month, the penny stock of National Automation Services, Inc. (NASV) trumped that by announcing a $1.33 million share buyback program this morning. Shares of NASV stock have exploded off the acquisition news, gaining over 740% and could explode even more after President and CEO, Bob Chance, stated an up list to the AMEX or NYSE later this year was in the works. With the share price still far below where it should be according to Chance, shareholders are salivating over how much of a haul the JD Field Services acquisition can bring them.
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NASV Stock Quote
Market Cap: 24.25M
Last: 0.0435 ▲ +0.0015 (3.57%)
Volume: 1,267,865
Dollar Volume: $55,185
Open: 0.042
High: 0.0479
Low: 0.0401
Trades: 59
Authorized: 1,000,000,000
Issued and Outstanding:
14-Day Rel Strength: 79.2%
1st Resistance Point: 0.0456
1st Support Level: 0.0407
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National Automation Services’ plans to exploit and ride the upward trajectory of the Domestic U.S. Oil & Gas Industry by acquiring JD Field Services and its subsidiaries, 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, is a major move. The Company, created by 2 friends, Jason Jensen and David Gurr, that wanted to live in the Uintah Basin where they grew up now employs over 100 employees and have recorded sales in excess of $24 million combined over the last 3 years.
The total assets of JD Field Services are said to be valued at $19 million according to the SEC filings of the deal, but the PR announcement states that net assets are valued at approximately $7,5 million. Either way, the absence of assets and revenues from National Automation Services’ quarterly reports will welcome any amounts to vacate the empty spaces.
How National Automation Services accomplishes the $1.33 million share buyback and the injection of $4,7 million into JD Field Services for expansion will be a major feat in and of itself. Late to file their annual report, the Company had just $9,348 in cash as of September 30, 2013 which made up 100% of their total assets.
The acquisition is structured in a way that National Automation Services finances their share buyback plan before paying off any outstanding debt JD Field Services has on their books. At the end of it all, Jason Jensen and David Gurr are each due to become 6% shareholders of NASV stock.
If the deal as as solid as it appears to be and the the development of the Keystone Pipeline goes along as planned, the 130 employees and fleet of more than 144 heavy truck cabs, trailers, fork lifts and other equipment that JD Field Service reports to having will be a blessing in the skies for NASV shareholders willing to go long.
About NASV Stock
National Automation Services, Inc., for all intents and purposes, is a shell company planning to acquire companies with track records of long term, stable, and profitable operations.
Click here to view the SEC filings for NASV.
Click here to view the website for National Automation Services.
Last 5 Trading Sessions:
| Date | Open | High | Low | Last | Change | % Change | Volume |
| 04/03/14 | 0.0420 | 0.0479 | 0.0401 | 0.0439 | +0.0019 | +4.52% | 1,267,865 |
| 04/02/14 | 0.0400 | 0.0440 | 0.0376 | 0.0420 | +0.0020 | +5.00% | 1,718,300 |
| 04/01/14 | 0.0408 | 0.0410 | 0.0380 | 0.0400 | -0.0007 | -1.72% | 3,498,200 |
| 03/31/14 | 0.0335 | 0.0410 | 0.0335 | 0.0407 | +0.0077 | +23.33% | 3,651,200 |
| 03/28/14 | 0.0358 | 0.0400 | 0.0300 | 0.0330 | -0.0021 | -5.98% | 3,395,600 |
Bottom Line:
IF this deal is as solid as it is being touted as, worth EBITDA of approximately $5.7 million, uplisting to AMEX or NYSE later this year would not be an issue. The deal is just too sweet to not have NASV on the list of penny stocks to watch. If they plan on using the cash from JD Field Services to finance their share buyback program, then NASV stock should see it’s price swell up well beyond the .04’s.
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