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[QUOTE]Originally posted by dalton05: [QB] News for 'NEXH' - (Letter to Nexia Shareholders from CEO Richard Surber) SALT LAKE CITY, Jul 26, 2006 (BUSINESS WIRE) -- Nexia Holdings Inc. (OTCBB: NEXH)(BCN: NH3A): Many shareholders and recently hired IR professionals have been inquiring about Nexia's intentions to effect a reverse stock split. My answer is that Nexia has no current intent to affect a reverse stock split. Based upon the trading volume and potential for price appreciation at the current trading levels, I see no need to take any such action as affecting a reverse stock split. Nexia is a very volatile stock which is viewed favorably by many risk tolerant shareholders, traders and investors. It is my belief that a reverse stock split would be counter-productive. I will only effect a reverse split, on the condition that it would increase liquidity, substantially increase the companies cash position, would attract more investors and would cause the price of the stock on pro rata basis to appreciate rather than plummet. Nexia is currently one of the top trading stocks on the OTCBB. At June 30, 2006, our NOBO list showed over 3,000 shareholders that have shares in street name coupled with over 700 shareholders of record. Nexia is working hard to gain credibility in the marketplace by focusing on increasing above-the-line revenues through diversification into retail clothing and beauty markets while simultaneously looking to replenish its real estate inventories through obtaining equity and bank financing for additional purchases and renovations. Recently it was announced that as of July 25, 2006, additional rules are being implemented which will require market makers to report short positions in OTCBB securities. This additional transparency is a welcome change on the OTCBB to stem the potential for abusive shorting practices that I believe Nexia has fallen victim to like so many other micro cap companies. This announcement may be found on at [URL=http://www.otcbb.com/news/2006/GeneralNews/071406.stm.]www.otcbb.com/news/2006/GeneralNews/071406.stm.[/URL] This new information will provide an additional level of comfort for investors and more credibility to companies traded on the OTCBB. All reporting companies have been required to meet increased disclosure requirements similar in some respects to the requirements of NASDAQ, AMEX and NYSE listed companies, without the benefit of the transparency enjoyed by such listed companies with respect to disclosure of equity short positions of professionals in the OTCBB market. Nexia's current market cap is a mere $1.6 million. Nexia has nearly an equal amount of equity in just one of its real estate holdings. Long shareholders will know what they are up against come July 25, 2006, which hopefully will create a more level playing field for retail investors. [/QB][/QUOTE]
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