Dallas, TX 12/8/2008 10:46:52 PM
NXHD CEO Issues Update to Shareholders – An OTCPicks.com Featured Small Cap Stock of the Week
Brian Dean, Publisher of OTCPicks.com, announced today that his firm has initiated Profile Coverage of Nexia Holdings (OTCBB: NXHD). Mr. Dean comments, "Nexia Holdings, a diversified holdings company with operations in real estate, health & beauty, and fashion retail recently issued the following update to shareholders from Nexia's CEO, Richard Surber.
Dear Valued Shareholders:
I am pleased to announce several anticipated actions Nexia Holdings intends to take in the near term and long term to dramatically improve and grow the company.
1. Nexia's accounting staff is nearing completion of stand alone financials for Green Endeavors Ltd. (PINKSHEETS: GRNE) to be filed with pink sheets. Our intentions are to complete a Form 15c2-11 to get GRNE listed for trading on the pink sheets. GRNE is the subsidiary that holds our Landis Salon operations.
2. Retain auditors to audit GRNE and file a Form 10 to make GRNE fully reporting.
3. Nexia will issue a stock dividend in Green Endeavors Ltd. (PINKSHEETS: GRNE) to its shareholders on a pro rata basis upon becoming fully reporting.
4. Nexia's portfolio securities recently increased in value from $100,000 to $650,000. I am optimistic that Nexia will see further increases and may be able to liquidate these securities for close to $1M in cash in
the near term based upon the volume and price increase per share in one of its holdings.
5. Nexia's recent sale of an office building infused over $630,000 in cash into the company which has allowed Nexia to clean up its balance sheet and has set the stage for growth in 2009.
6. Nexia's has three prospective real estate professionals that it intends to appoint as President, Vice President, and Secretary of its real estate division to accelerate our "Real Estate Acquisition Strategy."
7. Nexia has set a long-term goal to acquire $100M worth of real estate under its "Real Estate Acquisition Strategy."
8. Nexia will exit its retail clothing business, excepting its online operations, in an effort to concentrate on its salon and real estate ambitions.
9. Nexia is forming alliances with marketing firms to keep the investment community apprised of its plans.
10. Nexia intends to complete its offering document to raise up to $10M under an equity line of credit.”
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About Nexia Holdings
Nexia Holdings, Inc., headquartered in Salt Lake City, Utah, is a diversified holdings company with operations in real estate, health & beauty, and fashion retail. The Company has been acquiring undervalued properties in the Salt Lake City area since the early 1990s. Nexia owns a majority interest in Landis Lifestyle Salon, www.landissalons.com, and operates one Black Chandelier retail location and an online store at www.blackchandelier.com. For more information, visit www.nexiaholdings.com.
About OTCPicks.com
OTCPicks.com is an Internet destination for investors seeking information on smallcap and microcap companies. The web site features companies in Profile Campaigns, Executive Interviews and Research Reports authored by our financial writers. We publish our Daily Market Movers Digest Newsletter to opt-in investor members. To feature a company on OTCPicks.com, please contact our publisher, Brian Dean at 972-546-3740, or via email at publisher@otcpicks.com.
Forward-Looking Statement: This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.
Disclosure: OTCPicks.com has received twenty million free trading shares from a non-controlling third party for NXHD advertising and promotional services.
OTCPicks.com is not a registered investment advisers or broker/dealer. OTCPicks.com makes no recommendation that the purchase of securities of companies profiled in this website is suitable or advisable for any person or that an investment such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market their securities, investing in such securities is highly speculative and carries a high degree of risk.
