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News for 'NEXH' - (Nexia Sells Real Estate for $927,500)
SALT LAKE CITY, May 11, 2006 (BUSINESS WIRE) -- Nexia Holdings Inc. (OTCBB: NEXHE) (OTCBB: NEXH) announced today that one of the company's subsidiaries, Salt Lake Development Inc., has received $238,000 in net proceeds from the sale of its office building located at 268 West 400 South, Salt Lake City, Utah. The building sold for a gross sales price of $850,000, proceeds were used to satisfy the $553,548 balance on the mortgage on the building and other fees and commissions related to the sale.
Another Nexia subsidiary, Diversified Holdings I Inc., recently closed on the sale of a condominium located in Brian Head, Utah, from which it realized $40,000 in net proceeds. The gross sales proceeds of $77,500 were used to satisfy the mortgage loan on the property, the full payment of all condo fees owed on the property, payment of real property taxes and the real estate agent's fees generated by the sale.
Nexia's CEO, Richard Surber, commented that "the sales of 268 West 400 South in Salt Lake City and the condominium in Brian Head have further improved Nexia's financial position by providing a substantial cash infusion and improving Nexia's cash flow by approximately $11,000 per month on an ongoing basis by eliminating expenses relating to the properties."
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Mu - can you copy and paste the article that says he is a scammer i cannot find it on stock patrol.Thanks.
Posts: 1086 | Registered: Oct 2005
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