PALM BEACH GARDENS, Fla., March 16, 2011 (GLOBE NEWSWIRE) -- National Asset Recovery Corporation (OTCQX:REPO) Update from National Asset Recovery Corporation's Chairman, Bradley Wilson.
REPO is a collateral recovery company that specializes in the repossession of autos, trucks, boats, yachts, motor homes, motorcycles, and heavy equipment. The company's clients are banks, lenders, and financial institutions that have made loans to consumers and businesses.
The chairman Bradley Wilson states that the company is dedicated to becoming a dominant player in the asset recovery business. In the prior 6 months since REPO went public, their primary goal was to become a nationwide company. Mr. Wilson believes they have accomplished that goal. The company has gone from doing business only in Florida to creating a nationwide network of 600+ recovery agents in 700 locations operating in 50 states.
The second goal of the company was to build the client list of banks, lenders, and finance companies. Mr. Wilson feels the company has made great strides in accomplishing that goal by first hiring and training an in house sales staff that has built numerous relationships throughout the country. Additionally, in October REPO put on a seminar at one of the premier hotels in Palm Beach Florida for the purpose of introducing themselves to 30 of the top lending institutions.
Currently, REPO is working with over 20 major financial institutions and recovered assets for them in approximately 35 states nationwide.
In closing, the management of REPO feels they have only scratched the surface of what can be accomplished in this industry considering there are many banks, lenders, and finance companies making loans to consumers and commercial companies on hard assets.
The primary goals of the company moving forward in 2011 are to continue building their national network of recovery agents as well as to continue adding new banks, lenders and finance companies to their client list. In addition, REPO wants to develop new product lines that can be offered to the clients as well.
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plan, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
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