Letter to Nexia Shareholders from CEO Richard Surber Wednesday July 26, 10:00 am ET
SALT LAKE CITY--(BUSINESS WIRE)--July 26, 2006--Nexia Holdings Inc. (OTCBB: NEXH - News; BCN: NH3A): ADVERTISEMENT
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.
Nexia strongly encourages the public to read the above information in conjunction with its Form 10-KSB for Dec. 31, 2005, and its 10-QSB for March 31, 2006. Nexia's disclosures can be viewed at www.nexiaholdings.com or www.sec.gov. Interested persons are also encouraged to view www.blackchandelier.com and www.landissalon.com. 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.
Contact: Nexia Holdings Inc. Richard Surber, 801-575-8073, ext. 106 Fax: 801-575-8092 E-mail: hudconsult*aol.com
-------------------------------------------------------------------------------- Source: Nexia Holdings Inc.
-------------------- please dont trade stocks on my alerts, do your dd first.
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Research Update Issued on Nexia Holdings by Beacon Equity Research Following Financial Results from the Latest Quarter
By BusinessWire Last Update: 8/24/2006 6:03:18 AM Data provided by
DALLAS, Aug 24, 2006 (BUSINESS WIRE) -- A new research note has been issued on Nexia Holdings, Inc. (NEXH) by Beacon Equity Senior Research Analyst, Kris Goldcross, CFA.
Anyone interested in receiving alerts regarding Nexia Holdings, Inc. research should email members*beaconequityresearch.com with "NEXH" in the subject line.
In the report Mr. Goldcross writes, "Nexia has acquired an 85% interest in Landis, LLC, which operates a lifestyle salon in Salt Lake City. For the first six months of 2006, Landis generated total revenue of $582,331 and management expects it to generate $1.2 million in revenues for the fiscal year 2006. It also plans to increase its presence with up to two additional stores in Salt Lake City and surrounding suburbs. Management is also considering expanding the business model by careful placement of the Landis concept with a company that owns malls throughout the United States.
"Its real estate activities are expected to generate rental revenues of $300,000 in fiscal year 2006 and $980,000 in proceeds have already been recorded from the sale of an office building on April 19, 2006."
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 ninety-five hundred dollars 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.
Nexia’s Articles of Incorporation, as currently in effect, authorizes Nexia to issue up to 10,000,000,000 shares of common stock, par value $0.001 per share. The Board of Directors has proposed an increase in the number of authorized shares of the common stock of Nexia. Upon the approval by the consenting shareholders holding a majority of the outstanding voting securities and then the filing of the Amended Articles of Incorporation, Nexia will be authorized to issue 50,000,000,000 shares of common stock, the stated par value per share will be decreased to $0.0001 and the 50,000,000 shares of preferred stock, $0.001 par value per share will remain the same
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Another PR with decent news increasing the value and income of the company, quick spike in volume and an uptic on price to .0004. Then stagnation which will probably be followed by a return to .0003.
Why does nobody care about this stock? Yes, there's a 50 billion A/S, but the O/S is nowhere near that. This seems like a much stronger company than a lot of better performers.
-------------------- Me Trade Pretty One Day.
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Well, I was wrong. It managed to close at .0004.
Oddly, the afterhours L2 shows 1X3 .0004 X .0004 (why? why not?) and 4X6 .0003 X .0005. So it's up 100% from Tuesday and may go further next week. (Probably get a couple more PRs from this PR machine.)
-------------------- Me Trade Pretty One Day.
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News for 'NEXH' - (Nexia Closes on $1,000,000 Refinancing)
SALT LAKE CITY, Aug 29, 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 closed on a $1,000,000 mortgage secured by the Wallace Bennett Building. The terms of the loan include a total loan in the sum of $1,000,000; a term of 10 years, with an interest rate of 7.125% fixed for 10 years and would provide for monthly payments based upon a 30 year amortization. Proceeds from the new financing were used to retire the prior loan secured by the building and included a cash payment to the owner of the building.
The terms set forth above reclassify the loan held by Wasatch Capital from short-term debt to long-term debt which has substantially increased Nexia's working capital, from the $971,535 reported as of June 30, 2006 to an estimated $1,921,535.
Richard Surber, Nexia's president, commented that: "Wasatch has not only obtained the benefit of long-term financing based upon a 30 year amortization, but has received in excess of $140,000 in cash which will be used in part for further improvements to the property. Nexia's recent developments indicate to me that we are moving the company in a positive direction."
Nexia strongly encourages the public to read the above information in conjunction with its Form 10-KSB for Dec. 31, 2005 and the Form 10-QSB for June 30, 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.
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Wierd trading. Yesterday, trading was light most of the day, and then within about a 10 minute period a block of about 55 million traded at .0004 and then a similar block immediately after at .0003. Then back to light trading.
Today, similar, except the big blocks were all .0003, knocking down the bid. Then, when the bid/ask was .0002/.0003, one of those "too small to be real" trades went through at .0004.
This stock is seriously undervalued and I can't figure out why nobody cares. At least nothing's traded at .0002.
-------------------- Me Trade Pretty One Day.
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