New America Energy Corp (OTCMKTS:NECA) through its subsidiary unit Title King, LLC, proudly commences the second step of the latest 3-step investor plan by reporting a Share Repurchase Plan and the retirement of common NECA stock amounting to 111 million shares.
The highlights
New America is presently coordinating with the NECA Transfer Agent and the legal team to withdraw common NECA stock amounting to 111 million shares from the open float and return the equity back to NECA firm Treasury. It considers that closing this action brings immediate shareholder value as business valuations are completed with a reduced outstanding shares count.
Regarding the Share Repurchase Plan, all upcoming purchases can be done in the open market, planned repurchase plans, or in privately negotiated deals, subject to availability. The reported plan does not necessitate NECA to buy any quantity of common stock, and the plan may be discontinued or suspended at any time.
Jeffrey Canouse, the CEO of New America, said that in last PR they reported about ongoing aggressive endeavors to ensure no issuances or minimal issuance required after the completion of 90-day period. The most instant of these activities is a revolving, non-dilutive LOC that the firm is on the edge of obtaining.
The Board and Canouse believe intensely that it is this LOC that will allow disruptive operation model while starting the Share Repurchase Plan in earnest. They simply don’t believe the existing stock price shows the true value of business and feel that the grouping of strategic investments, financial position and market expertise, and will enable them to create increased shareholder value in the approaching quarters. The Company is thrilled to report third step in its new Investor Program soon.
Based in Atlanta GA, via its title loan subsidiary unit, New America offers high interest loans for short-term to customers through the collateral utilization of truck and car titles. The firm functions in the alternative financial services segment, offering automobile title loans to customers who own their vehicle clear and free and look for simple and convenient access to funds.
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