New America Energy Corp. (OTC Pink: NECA) offers short-term, high interest loans to consumers with auto collateral, through its Title King, LLC subsidiary. Shares of the short-term loans provider are diving 15%, during early trading on Thursday, December 8, 2016. Over the past three months, the company has seen average daily volume of 74.37 million shares. However, volume of nearly 91.12 million shares or dollar volume of $109,344, has already exchanged hands through early trading Thursday.
Shares of New America Energy Corp. are skidding today, after the company announced it will be transitioning into a holdings company. The transition comes as the company conducts a three-stage plan to revamp growth. First the company committed to a one billion-share reduction, retiring 111 million shares from the transfer agent, and now the transition into a holdings company. The company expects to engage in a series of acquisitions moving forward to help expand into new industries. Here is the full press release detailing of the business update:
New America Energy Corp. Press Release:
ATLANTA, GA–(Marketwired – Dec 8, 2016) – New America Energy Corp. ( OTC PINK : NECA ), through its wholly-owned subsidiary Title King, LLC, proudly announces the third step of The Company’s new three-step investor-confidence program: The Company will transition into a Holdings Company.
The Company is pleased to make this strategically-timed business move, since a Holdings Company entity immediately positions NECA to fully realize current growth endeavors and now burgeoning opportunities in exciting new sectors. NECA has begun the legal process to become a Holdings Company simultaneous with The Company recently naming a Director of Acquisitions.
NECA CEO Jeffrey Canouse elaborated: “I personally believe that this third step in our investor-confidence program is by far the most exciting and poignant. After NECA’s past several weeks of corporate developments and now with a Director of Acquisitions joining our executive management roster, we have determined that The Company should become a Holdings Company. This action will better capitalize on the many opportunities The Company is exploring in emerging sectors. My goal is to begin delivering acquisitions that immediately reflect a rapid increase in NECA’s top and bottom-line revenues. By making NECA a true Holdings Company we believe that our ability to utilize our capital structure resources will give us far more flexibility to consummate acquisitions.”
The Company also provided updates concerning all three stages of the recently implemented investor-confidence program.
Stage 1: The Company commits to a One Billion shares reduction and a 90-day standstill agreement with creditors. All paperwork has been submitted to the Nevada SOS to complete the One Billion share reduction. Our creditors remain committed to the agreement. Beyond the 90-day time-period The Company is hopeful to lean on non-dilutive revolving-credit financing for the majority of funding needs.
Stage 2: The Company commits to retiring 111,000,000 shares from the O/S. We have been working with our Transfer Agent to return these shares back to treasury. Our Transfer Agent remains open and ungagged and the O/S should soon reflect the retirement. Additionally, The Company’s window to buy back shares on the open market remains open.
Stage 3: The Company will soon be a legal Holdings Company. The Company believes this strategic move to become a Holdings Company complements our existing business model while expanding beyond it.
Investors can continue to expect regular updates as The Company is committed to establishing investor-confidence while building shareholder value.
About New America Energy Corp.
Based in Atlanta, GA, through its title loan subsidiary, Title King, LLC, provides short-term 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. The Company is also exploring additional business opportunities including joint-venture partnerships and acquisitions. www.titlekingloans.com