ATLANTA, March 07, 2016 (GLOBE NEWSWIRE) -- New America Energy Corp. (OTC:NECA), D.B.A. Title King, LLC, an alternative financial service provider, announced today the retirement of 63,209,923 shares of its common stock previously held by Jeffrey M. Canouse, NECA’s current Chief Executive Officer, and the elimination of all accrued salary from the start of Title King through December 31st 2015.
Jeffrey M. Canouse, CEO of New America, commented, "I retired these shares and forgave this debt because I strongly believe that with our recent Letter of Intent to acquire three existing locations and the Auto dealership, that the future is bright for New America. As I discussed in an interview a few weeks ago, I’ve been working to secure non equity financing and felt it was in the best interest of the company to eliminate any debts that I could."
As of March 7, 2016, the Company has approximately 750 million common shares issued and outstanding, and is listed Current on OTC Markets.
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.