Houston, TX ? Nexus Energy Services Inc. (PHARD: OTC Pink) is excited to announce an acquisition in South Texas from a private Texas based oil and gas company for $1.5 million in a combination of cash, stock and notes, effective August 1, 2013. This acquisition consists of a 100 percent of the Working Interest in a 250 acre lease in the upper and lower Frio Basin. Chief Financial Officer and Director Loretta Higgins said, ?Based on the geological and reserve reports, this acquisition will lead Nexus? entry into the energy production sector with proven profitability and potential for future development.?
Ms. Higgins stated, ?This acquisition incorporates an existing cash flow from one producing well and two proven undeveloped locations containing upwards of 300,000 barrels of oil. This information will be reflected in the 2013 annual report.? The September 2013 annual report will be made available on or around October 25, 2013. Ms. Higgins noted, ?The early release of this annual report signals our new commitment to supply timely and accurate information to shareholders. This annual report will include restated financial statements as result of thorough and ongoing examinations of the books and records of Pharmstar Pharmaceuticals. This examination is essential due to an inability to validate previously released financial statements."
Investors should be advised that as part of this internal review, past quarterly and yearly financial statements can no longer be relied upon and a restatement will be published on or about November 8, 2013.
FORWARD-LOOKING STATEMENTS
The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements related to the future financial performance of the Company. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful execution of growth strategies, product development and acceptance, the impact of competitive services and pricing, general economic conditions, and other risks and uncertainties described in the Company's periodic filings with the OTC Markets.