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New America Energy Corp. (OTC PINK:NECA), soon to be renamed Third Bench, has provided a corporate update focusing on financials and strategic growth. The company aims to execute a pipeline of acquisitions in 2022 while maintaining cost efficiency to potentially double revenue this year. Key updates include plans to uplist to NASDAQ within 24 months and a name change within 30-60 days. Significant cost reductions have been made, totaling approximately $950,000 in annual expenses. The company anticipates achieving $50 million in revenue for 2022, backed by ongoing investments and operational growth.
New America Energy Corp. (OTC PINK:NECA) will rebrand to Third Bench. The company announces the opening of a new Davis Kitchens showroom in Tucson, Arizona, expanding its residential cabinetry and countertop services. CEO David Fair emphasizes the growth in the Arizona home builder and remodel market, positioning the showroom as a key player in local retail. Third Bench operates multiple facilities and is projected to exceed $24 million in revenue for 2021, with a strong cash flow. This growth comes amidst plans for further acquisitions.
New America Energy Corp. (OTC PINK:NECA) announced it will change its name to Third Bench and appointed James B Turk as new Chief Financial Officer, effective Nov 8, 2021. Turk brings extensive experience in public companies and M&A strategies. Third Bench operates in kitchen and bathroom cabinetry, with projected revenues exceeding $28 million for 2021, up from $19 million in 2020. The company is cash flow positive and planning additional acquisitions. CEO David Fair expressed enthusiasm for Turk's expertise, expected to bolster company growth.
New America Energy Corp. (OTC PINK CURRENT:NECA) has appointed David Fair as CEO, succeeding Jeff Canouse. Fair, previously CEO of Third Bench Holdings, brings significant experience in corporate strategy and M&A. His enthusiasm for growth positions NECA for advancement in the cabinetry market. The company recently acquired Third Bench Holdings, projecting a revenue run rate exceeding $28 million for 2021, with positive cash flow. This leadership transition aims to enhance operational efficiency and shareholder value.
New America Energy Corp. (NECA) announced the acquisition of Davis Kitchens, located in Albuquerque, New Mexico, aiming to enhance its revenue by approximately $5 million annually. This acquisition positions the company as one of the largest suppliers of residential cabinetry in New Mexico, with a projected combined revenue of $29 million for 2021. CEO David Fair expressed enthusiasm about the synergy between the two businesses, which allows for cross-selling residential countertops.
New America Energy Corp. (NECA) has acquired Third Bench Holdings and engaged REDW, a top accounting firm, to enhance accounting practices and prepare for a PCAOB audit. This initiative aims to improve financial reporting and provide shareholders with accurate information. Third Bench, which focuses on cabinetry and millwork, reported over $18.8 million in revenue for 2020 and is projected to exceed $24 million in 2021. The partnership with REDW is expected to support Third Bench's growth and auditing readiness.
New America Energy Corp. (OTC PINK CURRENT:NECA) CEO David Fair presented at the Emerging Growth Conference, emphasizing the company's growth ambitions and strategies. The projected revenue for 2021 is around $24 million, bolstered by potential acquisitions. Fair outlined plans to become a leading provider of cabinetry and countertops in the Southwest, with no intentions of diversifying into non-complementary businesses. Third Bench is cash flow positive and aims for PCAOB auditing and uplisting within the year. The company expects to report on operations by August 31, 2021.
New America Energy Corp. (OTC PINK:NECA) has announced plans to change its name to Third Bench, alongside a growth strategy aimed at achieving revenues exceeding $50 million by 2022. CEO David Fair reported on the company's successes, including recent acquisitions in the cabinetry sector and a focus on technological enhancements. Third Bench aims to consolidate operations and prepare for uplisting to a larger exchange through a PCAOB audit. The company is cash flow positive and anticipates significant synergy from upcoming acquisitions.
New America Energy Corp. (NECA) has announced the elimination of nearly One Million in convertible notes and liabilities, which CEO Jeff Canouse describes as a significant victory for shareholders. The company aims to attract more advantageous capital for organic and acquisition growth, boosted by favorable post-COVID credit markets. Third Bench Holdings, a subsidiary, projects a revenue run rate of over $24.0 million for 2021, demonstrating robust financial health and positive cash flow. This strategic move is expected to enhance NECA's attractiveness for future acquisitions.
New America Energy Corp. (NECA) announced that its recent acquisition, Third Bench Holdings, will present at the Emerging Growth Conference on August 4, 2021. The interactive presentation invites investors and analysts to engage with CEO David Fair in real-time, scheduled for 11:30 AM Eastern Time.
Participants can register to attend and will have the opportunity to ask questions during the session. If unable to attend live, an archived version will be available post-event. Third Bench, a holding company, operates in the cabinetry sector and generated over $18.8 million in revenue in 2020.
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