New Asia Holdings Inc (NAHD) Announces Closing of Acquisition of Machfu Inc.
New Asia Holdings (NAHD) has completed the acquisition of Machfu Inc., entering the Industrial IoT market. The transaction involved exchanging all outstanding Machfu shares for approximately 35 million shares of NAHD common stock, making Machfu a wholly-owned subsidiary.
The acquisition aims to expand into the remote wellsite monitoring market, targeting both internal production assets and third-party service clients. The company plans to leverage Machfu's technology for low-producing wells, focusing on cost reduction through reduced operator visits, improved management, data control, and early fault detection. NAHD intends to aggressively market this technology in the Oil and Gas stripper well market, utilizing Olenox's service and technology expertise.
New Asia Holdings (NAHD) ha completato l'acquisizione di Machfu Inc., entrando nel mercato dell'IoT industriale. La transazione ha comportato lo scambio di tutte le azioni in circolazione di Machfu per circa 35 milioni di azioni ordinarie di NAHD, rendendo Machfu una sussidiaria interamente controllata.
L'acquisizione mira ad espandersi nel mercato del monitoraggio remoto dei siti di perforazione, mirando sia agli asset di produzione interni che ai clienti di servizi di terze parti. L'azienda prevede di sfruttare la tecnologia di Machfu per i pozzi a bassa produzione, concentrandosi sulla riduzione dei costi attraverso visite ridotte degli operatori, miglioramento della gestione, controllo dei dati e rilevamento precoce dei guasti. NAHD intende commercializzare aggressivamente questa tecnologia nel mercato dei pozzi a stripper di petrolio e gas, utilizzando l'expertise di servizio e tecnologia di Olenox.
New Asia Holdings (NAHD) ha completado la adquisición de Machfu Inc., ingresando al mercado del IoT industrial. La transacción implicó el intercambio de todas las acciones en circulación de Machfu por aproximadamente 35 millones de acciones ordinarias de NAHD, convirtiendo a Machfu en una subsidiaria totalmente propia.
La adquisición tiene como objetivo expandirse en el mercado de monitoreo remoto de sitios de perforación, dirigiéndose tanto a activos de producción internos como a clientes de servicios de terceros. La empresa planea aprovechar la tecnología de Machfu para pozos de baja producción, enfocándose en la reducción de costos mediante visitas de operadores reducidas, mejor gestión, control de datos y detección temprana de fallos. NAHD tiene la intención de comercializar agresivamente esta tecnología en el mercado de pozos stripper de petróleo y gas, utilizando la experiencia de servicio y tecnología de Olenox.
New Asia Holdings (NAHD)는 Machfu Inc.을 인수하고 산업 IoT 시장에 진입했습니다. 이 거래는 모든 미발행 Machfu 주식을 약 3,500만 주의 NAHD 보통주와 교환하는 것이었으며, Machfu는 완전 소속 자회사가 되었습니다.
이번 인수는 원격 감시 시장으로의 확장을 목표로 하며, 내부 생산 자산 및 제3자 서비스 고객을 대상으로 하고 있습니다. 회사는 Machfu의 저생산 유전 기술을 활용하여, 운영자의 방문을 줄이고, 관리 개선, 데이터 통제 및 조기 결함 감지를 통해 비용 절감에 집중할 계획입니다. NAHD는 Olenox의 서비스 및 기술 전문성을 활용하여 이 기술을 석유 및 가스 스트리퍼 유전 시장에서 적극적으로 마케팅할 예정입니다.
New Asia Holdings (NAHD) a finalisé l'acquisition de Machfu Inc., entrant ainsi sur le marché de l'IoT industriel. La transaction a consisté en l'échange de toutes les actions en circulation de Machfu contre environ 35 millions d'actions ordinaires de NAHD, faisant de Machfu une filiale entièrement détenue.
L'acquisition vise à s'étendre sur le marché de la surveillance à distance des sites de forage, ciblant à la fois les actifs de production internes et les clients de services tiers. L'entreprise prévoit de tirer parti de la technologie de Machfu pour les puits à faible production, en se concentrant sur la réduction des coûts grâce à des visites d'opérateurs réduites, une meilleure gestion, un contrôle des données et une détection précoce des pannes. NAHD a l'intention de commercialiser agressivement cette technologie sur le marché des puits de pétrole et de gaz de type stripper, en utilisant l'expertise en service et technologie d'Olenox.
New Asia Holdings (NAHD) hat die Übernahme von Machfu Inc. abgeschlossen und ist damit in den industriellen IoT-Markt eingestiegen. Die Transaktion beinhaltete den Austausch aller ausstehenden Machfu-Aktien gegen etwa 35 Millionen Aktien von NAHD-Stammaktien, wodurch Machfu zu einer vollständig im Besitz befindlichen Tochtergesellschaft wurde.
Die Übernahme zielt darauf ab, in den Bereich der Remote-Überwachung von Bohrstandorten zu expandieren, wobei sowohl interne Produktionsanlagen als auch Kunden von Drittanbietern angesprochen werden. Das Unternehmen plant, die Technologie von Machfu für schwach produzierte Brunnen zu nutzen, mit dem Fokus auf Kostenreduzierung durch reduzierte Besuchszahlen der Betreiber, verbesserte Verwaltung, Datenkontrolle und frühzeitige Fehlersuche. NAHD beabsichtigt, diese Technologie im Markt für Öl- und Gas-Stripper-Brunnen aggressiv zu vermarkten und dabei auf die Service- und Technologieexpertise von Olenox zurückzugreifen.
- Strategic entry into Industrial IoT market through acquisition
- Technology enables cost reduction in well operations
- Potential for revenue growth through third-party service clients
- Synergies with existing Olenox service and technology expertise
- Significant shareholder dilution through issuance of 35 million new shares
Company enters Industrial IoT market with Machfu Acquisition
Electra Texas, Dec. 12, 2024 (GLOBE NEWSWIRE) -- New Asia Holdings Inc (“NAHD” or the Company) (OTC: NAHD) announces completion of an acquisition pursuant to a Plan and Agreement of Reorganization (the “Agreement”) between the Company and Machfu Inc.
The Company completed the acquisition of all the issued and outstanding shares of common stock of Machfu Inc., in exchange for the issuance by the Company to the shareholders of Machfu of approximately thirty-five million shares of Company’s common stock.
Pursuant to the Agreement, Machfu Inc. has become a wholly owned subsidiary of the Company.
Mr. Michael McLaren CEO of New Asia Holdings states “The acquisition of Machfu paves a path for Olenox Corp. to move into the remote wellsite monitoring market not only for its own production assets but also for our 3rd party service clients.” He further stated, “The technology is ideal for low producing wells, cutting costs across the board on operator visits, improved management and data control as well as early detection of faults resulting in increased uptime.”
With the acquisition of Machfu, New Asia intends to aggressively market the technology into the Oil and Gas stripper well market piggybacking on Olenox’s service and technology expertise.
About Machfu Inc.
Machfu is a developer and manufacturer of a robust collection of innovative cloud and edge software solutions designed for emerging industrial IoT applications, combined with low-power, ruggedized Bluetooth IoT gateways, seamless sensor connectivity, and solar-powered solutions. With 20,000 Machfu gateways in the field in primary end-markets like Utilities, Oil & Gas (O&G) and Machine Health, the company has become highly regarded the field as the reliable smart choice for cost effective remote monitoring solutions.
Our solutions include:
- outage detection on distribution lines,
- failure prediction in machines
- efficient operation of O&G wells
The company has strong engineering capabilities in offering multiple networking & connectivity solutions, supported by intellectual properties (IP), patents, and software trademarks. Machfu has long standing relationships with blue-chip customers and has averaged over $US2,000,000 per year in sales for the past 5 years.
About New Asia Holdings. Inc./Olenox Corp.
Olenox Corp.is a diversified energy company based in the state of Texas that currently operates three vertically integrated business units – Oil and Gas, Energy Services and Energy Technologies.
- Oil and Gas. focuses on acquiring and optimizing underdeveloped oil and gas assets in Texas, Kansas and Oklahoma. It employs both internally developed and third party-licensed technologies to increase production, optimize performance and reduce costs. Olenox currently operates sixteen leases on approximately 2,000 acres with 125 wells on lease to reactivate. Since acquiring the leases in July 2022, Olenox’s Oil and Gas division has increased production from an average of 7 barrels/day to over 40 barrels per day intermittently. After reviewing well control data in the area, Olenox believes that there is more recoverable oil available on these leases.
- Energy Services. This business unit supports Olenox’s overall exploration and production efforts with “well services” and “end of life reclamation.” Olenox Energy Services owns and operates a combination of customized service-wireline rigs and HydroVac units. This specialized equipment allows for faster “rig in” and “rig out” times. Overall, Olenox Energy Services’ equipment and experience combination seeks to reduce the amount of time and fuel burned to complete an abandonment or workover thus reducing costs.
- Energy Technologies. This business provides both R&D and existing technology to enable increased production in the field. Olenox flagship intellectual property is its downhole enhanced recovery plasma pulse tooling and ultrasonic cleaning tools.
Each of Olenox’s three vertically integrated business units operate in tandem to help Olenox capture unique opportunities that often go untapped by the Company's competitors.
Safe Harbor Statement: Certain statements and information included in this release may constitute "forward-looking statements" as defined in the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied in such statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the Company's SEC filings. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.
FAQ
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