New America Energy Corp. (OTCPK:NECA) signed a binding letter of intent to acquire Third Bench Holdings, LLC on June 21, 2021. Under the terms, In consideration for the Acquisition, the Members shall receive shares of a new series of Preferred Stock of the Company which rights and preferences, collectively, shall include: (i) conversion rights into that number of shares of common stock of the Company which shall equal Ninety Percent (90%) of the total issued and outstanding common stock of the Company as determined at the consummation of the Acquisition. Acquisition will be immediately accretive to New America Energy Corp. cash flow. At the consummation of the Acquisition (the “Closing”), the Company will consummate a bridge financing for the benefit of Holdings in an amount of (US$500,000) and such funds shall be utilized, in part, to pay for the expenses incurred in connection with the Acquisition and the Audit. Following the Closing, the Company will raise up to Ten Million dollars (US$10,000,000) by the sale of shares of equity (common stock or preferred stock) or debt of the Company (the “Initial Financing”). It is anticipated that the Initial Financing will be consummated in tranches over the twelve (12) months following the Closing. New America Energy Corp. (OTCPK:NECA) completed the acquisition of Third Bench Holdings, LLC on July 21, 2021. As of September 8, 2021, through this acquisition, New America Energy Corp. has engaged REDW to streamline accounting practices and help prepare for PCAOB audit. REDW will provide general accounting and consulting services to Third Bench, assisting with the implementation of top-quality accounting practices, financial reporting, centralizing accounting functions, and prepare Third Bench for a PCAOB audit.