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News for 'NEXH' - (Nexia Holdings Director of Business Development Featured in Exclusive Interview With WallSt.net)
NEW YORK, June 13, 2006 /PRNewswire via COMTEX/ -- On June 7, Sean Pasinsky, Director of Business Development for Nexia Holdings, Inc. (OTC Bulletin Board: NEXH) updated the investment community in an exclusive interview with www.wallst.net . Topics covered in the interview include an overview of the Company and the markets it serves, recent press releases, current capitalization, upcoming strategic and financial milestones.
To hear the interview in its entirety, visit www.wallst.net , and click on "Interviews." Interviews require free registration, and can be accessed either by locating the respective company's ticker symbol under the appropriate exchange on the left-hand column of the "Interviews" section of the site, or by entering the respective company's ticker symbol in the Search Archive window.
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News for 'NEXH' - (Nexia Reports Release of Lien)
SALT LAKE CITY, Jun 21, 2006 (BUSINESS WIRE) -- Nexia Holdings Inc. (OTCBB: NEXH) announced that its subsidiary Wasatch Capital Corp., the owner of the Wallace Bennett Building, located on 100 South in downtown Salt Lake City, has received a complete Release of Lien, which releases the claims of Hallmark Construction & Development LLC, in the amount of $94,541, for costs related to the improvements made to the Wallace Bennett Building during the year 2004. No additional payments, nor promises of payment, were made by Wasatch Capital Corp. in exchange for the Release of Lien.
Richard Surber, Nexia's president, said: "This release is a vindication of the company's position that it had fully paid for the construction and improvement made to the Wallace Bennett Building prior to the filing of the lien. I believe that this action will provide additional assistance in Wasatch Capital's efforts to obtain permanent long-term financing for the Wallace Bennett Building."
Nexia strongly encourages the public to read the above information in conjunction with its Form 10-KSB for Dec. 31, 2005, and its Form 10-QSB for the quarter ended March 31, 2006. Nexia's disclosures can be viewed at www.nexiaholdings.com or www.sec.gov. This press release is not a solicitation to buy or sell any securities. Nexia strongly encourages investors to only invest monies that they can afford to lose. Nexia is a high-risk security known as a penny stock.
This press release may contain forward-looking statements that are based on a number of assumptions, including the successful completion of the refinancing of the Wallace Bennett Building. Although Nexia Holdings believes these assumptions are reasonable, no assurance can be given that they will prove correct. These forward-looking statements involve a number of risks and uncertainties, including the completion of the due diligence by lenders on the Wallace Bennett Building and obtaining sufficient financing for the property. The actual results that Nexia Holdings may achieve could differ materially from any forward-looking statements due to such risks and uncertainties.
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News for 'NEXH' - (Nexia Holdings, Inc. Rated 'Speculative Buy,' Target $.0016 by Beacon Equity Research)
DALLAS, Jul 11, 2006 (BUSINESS WIRE) -- Nexia Holdings, Inc. (OTCBB: NEXH) has been rated "Speculative Buy" with a target price of $.0016 by Beacon Equity Senior Research Analyst, Kris Goldcross, CFA.
In the report, Mr. Goldcross writes, "Since 1987, Nexia has been acquiring undervalued property in Salt Lake City. The Company's current property portfolio in Utah includes the Wallace-Bennett Building (a multistory office building in Salt Lake City), a one-story retail building in Salt Lake City, and one office building located on West Sams Boulevard. The Company also owns six small parcels of undeveloped raw land in Utah and Kansas.
"We have attempted to value the stock of the company on a Price to Sales model (P/S). Companies in the business service industry are expected to trade at a P/S ratio of 4x FY2007 sales. Nexia expects to generate annual revenues of $1.5 million in the near future. Based on a conservative P/S ratio of 4x on this projected revenue figure, we arrive at our target price of $0.0016."
Beacon Equity Research Disclosure
The analysts contributing to this report do not hold any shares of Nexia Holdings, Inc. (NEXH). Additionally, the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. The analyst(s) writing this report recognize and aspire to all of the CFA Institute Guidelines for Independent Research. Beacon Equity Research ("Beacon") certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analysts in the report. Beacon has directly been compensated $6,000 by Nexia Holdings for enrollment in its research program. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change.
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Nexia Reports on Acquisition of Retail Operation Business Editors / Real Estate Writers / Retail Writers
SALT LAKE CITY--(BUSINESS WIRE)--July 12, 2006-- Nexia Holdings Inc. (OTCBB: NEXH) announced today that Nexia's wholly owned subsidiary, Diversified Holdings I Inc. ("DHI"), that previously owned a 20% interest in Landis LLC, has signed an agreement to acquire an additional 60% interest from Richard Surber, Nexia's CEO and the sole managing member of Landis LLC. Surber commented, "I believe that there is great potential for future revenue growth for the Landis Lifestyle Salon venture. Landis currently employs 32 individuals. It has generated $582,331 in total revenues for the six months ended June 30, 2006, and total revenues since inception in November of 2005 of $715,000." Surber reiterated, "Landis is on track to exceed $1.2 million in gross revenue for 2006 and is expected to operate at a profit for the fiscal year ending Dec. 31, 2006." Landis is also announcing its plans to open two to three additional locations in Utah over the next 12 to 24 months. Each salon will carry Aveda(TM) products exclusively and will together employ approximately 100 people. In exchange for the interests in Landis acquired from Surber DHI and Nexia has agreed to deliver to Surber a promissory note in the amount of $250,000, issue 75,000 shares of Class A Preferred stock of Nexia, and 2 million shares of Class B Preferred Stock of Nexia.
This press release may contain forward-looking statements that are based on a number of assumptions, including the future operations of Landis LLC. Although Nexia Holdings believes these assumptions are reasonable, no assurance can be given that they will prove correct. These forward-looking statements involve a number of risks and uncertainties. The actual results that Nexia Holdings may achieve could differ materially from any forward-looking statements due to such risks and uncertainties.
KEYWORD: NORTH AMERICA UTAH UNITED STATES INDUSTRY KEYWORD: RETAIL COSMETICS FASHION CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE MERGER/ACQUISITION PHOTO/MULTIMEDIA SOURCE: Nexia Holdings Inc.
CONTACT INFORMATION: Nexia Holdings Inc., Salt Lake City Richard Surber, 801-575-8073, ext. 106 Fax: 801-575-8092 hudconsult*aol.com
-------------------- Insanity: doing the same thing over and over again and expecting different results
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News for 'NEXH' - (*DJ Nexia Hldgs In Pact To Buy 60% Stake In Landis LLC)
(MORE TO FOLLOW) Dow Jones Newswires July 19, 2006 11:20 ET (15:20 GMT) Copyright (c) 2006 Dow Jones & Company, Inc.- - 11 20 AM EDT 07-19-06
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News for 'NEXH' - (Nexia Embarks Upon Fashion and Retail Concept)
SALT LAKE CITY, Jul 20, 2006 (BUSINESS WIRE) -- Nexia Holdings Inc. (OTCBB: NEXH) announced today that it has formed a new wholly owned subsidiary named Gold Fusion Laboratories Inc. (GFL). The formation of GFL is in preparation for the acquisition of all the assets and liabilities relating to Black Chandelier. Diversified Holdings X Inc. ("DHX") currently operates Black Chandelier, which has two open retail locations, a Web site and is currently in negotiations for a third Utah location. Black Chandelier designs, produces and manufactures 90% of all items sold in its stores that are sold under the trademarks Black Chandelier, Jared Gold, Olfactory Surrealism and Pink Chandelier. The stores also carry merchandise from Wrangler Jeans, Le Sportsac, Taschen books, Lomography Cameras, and Tokidoki Italy.
The first Black Chandelier retail location has been in operation for more than two years in Trolley Square, a mall owned and operated by Simon Property Group (NYSE: SPG). Recently, a new location was designed as a pilot store to be used as a model for the opening of additional stores. The newly designed Black Chandelier is located in the Gateway Shopping Center in downtown Salt Lake City. Visit the store at http://www.blackchandelier.com/Gateway.html. Richard Surber stated his expectations, "This location is on target to generate approximately $800,000 in gross revenues during its first year of operations."
Year to date the Black Chandelier operations have generated approximately $175,000 in gross revenues. The Nexia team is exploring the potential for opening 20 additional stores in the United States and abroad over the next 3-5 years. Our goal is to build a retail operation that will generate $50M in gross revenues per year by the fifth year of operations. The feasibility of generating this type of revenue and supporting the stated level of expansion is currently being analyzed by Nexia.
Surber expects Nexia to close on the purchase of the Black Chandelier operations from DHX in the next 30 to 45 days. The terms of the purchase are currently being considered as the transaction will be deemed a related party transaction since the sole owner of DHX is Nexia's CEO Richard Surber.
Surber is currently pressing ahead with locating additional locations for Black Chandelier retail locations in Utah and Arizona.
Additional information on Black Chandelier, its fashion offerings and the retail operations can be found on its Web site at www.blackchandelier.com and ordering items from the clothing lines can be made on its e-store which can be found at www.blackchandelier.biz.
Nexia strongly encourages the public to read the above information in conjunction with its Form 10-KSB for Dec. 31, 2005 and for the subsequent quarters during 2006. Nexia's disclosures can be viewed at www.nexiaholdings.com and www.sec.gov. This press release is not a solicitation to buy or sell any securities. Investors are encourages to invest no more money than they can afford to lose.
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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 www.otcbb.com/news/2006/GeneralNews/071406.stm. 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.
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News for 'NEXH' - (Nexia Reports Significant Increases in Revenues)
SALT LAKE CITY, Sep 07, 2006 (BUSINESS WIRE) -- Nexia Holdings Inc. (OTCBB:NEXH)
Sales reports by Landis LLC, operator of the Landis Lifestyle Salon, an 85% owned interest through its subsidiary, reflected continued growth and improvement in the salon's operations for the month of August. Total revenues for the period from Aug. 1 through Aug. 31, 2006 were $128,000. Richard Surber, president of Nexia Holdings Inc., is pleased that sales and revenues have continued on their upward trend. He stated his belief, "This continued growth is evidence of the superior quality of the service and products offered at the Landis Salon."
Black Chandelier's stores in the Salt Lake area also reported sales figures for the month of August 2006 increasing. Total sales for August were $74,500, reflecting continued growth from the July sales report. Sales for prior months of 2006 were as follows: January 2006 = $16,654 / February 2006 = $19,046 / March 2006 = $22,942 / April 2006 = $20,087 / May 2006 = $19,300 / June 2006 = $33,867 / July 2006 = $61,116.
Sales of 2006 continue to dramatically increase in comparison to sales in 2005. June 2006 sales increased 193% from June 2005 and July 2006 increased 315% from July 2005. The continuing media attention is leading to the growth of sales of the fashion and related products offered by Black Chandelier through these retail outlets. Nexia expects to close upon the acquisition of Black Chandelier by Sept. 30, 2006.
This press release may contain forward-looking statements that are based on a number of assumptions, including the future operations of Landis LLC and Black Chandelier. Although Nexia Holdings believes these assumptions are reasonable, no assurance can be given that they will prove correct. These forward-looking statements involve a number of risks and uncertainties. The actual results that Nexia Holdings may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. For more information on Nexia Holdings please visit our Web site at www.nexiaholdings.com or see our filings at www.sec.gov.
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*********.com: Bulletin Board Share Volume Leaders for Thursday, September 14, 2006 Featuring Universal Express, Pacel Corp, Nexia Holdings, IGIA, and More
By M2 Last Update: 9/14/2006 8:36:41 AM
Nexia Holdings, Inc. (OTCBB NEXH) Wednesday's market went up 50.00% to $0.0003 per share, with a total of 12,766,600 shares traded. Sales reports by Landis LLC, operator of the Landis Lifestyle Salon, an 85% owned interest through its subsidiary, reflected continued growth and improvement in the salon's operations for the month of August. Total revenues for the period from Aug. 1 through Aug. 31, 2006 were $128,000. Richard Surber, president of Nexia Holdings Inc., is pleased that sales and revenues have continued on their upward trend. He stated his belief, "This continued growth is evidence of the superior quality of the service and products offered at the Landis Salon." Sales of 2006 continue to dramatically increase in comparison to sales in 2005. June 2006 sales increased 193% from June 2005 and July 2006 increased 315% from July 2005. The continuing media attention is leading to the growth of sales of the fashion and related products offered by Black Chandelier through these retail outlets. Nexia expects to close upon the acquisition of Black Chandelier by Sept. 30, 2006.
Nexia Holdings, Inc., through its subsidiaries, engages in the acquisition, lease, and sale of real estate properties in the United States. It has ownership or leasehold rights to industrial, commercial, warehouse, office, and undeveloped commercial and residential real estate. The company's property portfolio comprises the Wallace-Bennett Building, a multistory office building located at Salt Lake city, Utah; a one story retail building located at Salt Lake city, Utah; and one office building located on West Sams Boulevard in Kearns, Utah. It owns approximately six small parcels of undeveloped raw land in Utah and Kansas. The company was incorporated in 1987 and is based in Salt Lake City, Utah.
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