GROUP, INC. ANNOUNCES UPDATE ON SB2 FILING
Ariz., August 13, 2007. NowAuto Group, Inc. (NAUG:OTCBB and NWAU.PK) has
continued to prepare its SB2 registration statement while investigating numerous
alternative strategies to benefit shareholders, including sale or merger
neared completion of the SB2 originally planned for completion in April, several
opportunities to acquire, be acquired, or even to take the company private
been presented to us. Our emphasis has been to create value for our shareholders
in each case. Inasmuch as these opportunities would make the SB2 filing
unnecessary, we have delayed the filing while fully investigating each
situation” said CEO Scott Miller. “While we believe that some of the
opportunities that have been presented to us have merit, we cannot accurately
determine the probability that they will occur, or occur on a timely basis.
will therefore pursue completion of the SB2 for filing following completion
our fiscal 2007 audit due September 28, 2007.”
our primary objectives is to create value for our shareholders. Exploring
strategic opportunities is in everyone’s best interests. Simultaneously, we
strive to build the business on a day-to-day basis and continue to refine the
programs we have in place as well as plan for complimentary programs for the
future.” said CFO Faith Forbis.
NowAuto Group, Inc.
Group, Inc. operates buy-here-pay-here used vehicle dealerships in Arizona.
Company manages all of its installment finance contracts and purchases
installment finance contracts from a select number of other independent used
vehicle dealerships. Through its subsidiary, NavicomGPS, Inc, the company
markets GPS tracking devices, primarily to independent used vehicle
press release contains forward-looking information within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities Act of
and is subject to the safe harbor created by those sections. The forward-looking
information is based upon current information and expectations regarding NowAuto
Group, Inc. These estimates and statements speak only as of the date on which
they are made, are not guarantees of future performance and involve certain
risks, uncertainties and assumptions that are difficult to predict. Therefore,
actual outcomes and results could materially differ from what is expressed,
implied or forecasted in such forward-looking statements.
Group, Inc. assumes no obligation to update the information contained in this
press release. NowAuto Group, Inc.’s forward-looking statements in this press
release and future results may be materially impacted by any number of factors,
any or all of which could have a negative impact on sales, operating results,
financial and budgetary constraints. NowAuto Group, Inc.’s future results may
also be impacted by other risk factors listed from time to time in its SEC
filings, including, but not limited to, the Company’s Form-QSBs and its Annual
Report on Form 10-K. The statements made herein are independent statements
NowAuto Group, Inc. The inclusion, if any, of any third parties does not
represent an endorsement of any NowAuto Group, Inc. products or services by
such third party.
further information contact NowAuto Group, Inc. or visit the Company’s Web site
The following information was filed by Nowauto Group, Inc. (NAUG) on Monday, August 13, 2007 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.