The New America Energy Corp (OTCMKTS:NECA) stock was in the middle of a bit of a selloff on Tuesday and ended the day with losses of as much as 7%. The company was also in the news yesterday after its Chief Executive Officer David Fair sent in a letter to the shareholders with regards to the current outlook and the future plans of New America Energy Corp.
In the letter, Fair noted that the company is now working on changing its name to Third Bench, the plans to uplist to a bigger stock exchange and also the plans with regards to growing the company’s revenues in 2022.
In addition to that, the letter also addressed some of the work that had been accomplished by the company so far. Fair noted that after it completed the acquisition of Millwork, it has been successful in completing the acquisition of two more entities which are involved in the cabinetry space.
In addition to that, it was also pointed out that at this point in time the company is going to be focussed on the acquisition and then the growth of such entities which are specifically focussed on the residential sector.