posted
Just saw amre, down over 50%. seems to have bottomed out, may bounce - trying to add .0016/.0017
Posts: 45 | Registered: Sep 2006
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Nexia to Move Landis Salon Operations into New Publicly Traded Company
SALT LAKE CITY, Jun 26, 2007 (BUSINESS WIRE) --
Nexia Holdings, Inc. (OTCBB: NEXA), a diversified holdings company with interests in health and beauty, fashion retail and real estate, announced today that it has signed a Stock Exchange Agreement with AmeriResource Technologies, Inc. (OTCBB: AMRE) to acquire 90% of the issued and outstanding preferred stock of Net2Auction, Inc. (OTC: NAUC) in exchange for the issuance of 60,000 shares of Nexia Series C Preferred Stock. Under the terms of the agreement, Net2Auction will become a majority owned subsidiary of Nexia. Nexia said it plans to move its salon operations from Landis Lifestyle Salon and those of Reflections, following the close of that acquisition, into Net2Auction, Inc.
Richard Surber, president of Nexia Holdings, Inc., said, "Given the strong consecutive quarter-over-quarter sales increases reported in our single Landis Lifestyle salon, Nexia believes now is the right time to create a public vehicle to raise funds and further grow the Landis salon concept. We would expect at some point to use this new organization as the basis to raise up to $1 million in capital to be used for the growth of our salon business. Raising capital in this separate entity may also alleviate some of the dilution occurring in Nexia."
Landis is an independently operated salon that exclusively sells and uses AVEDA(TM) products. According to Aveda.com, 89 of America's top 200 fastest-growing salons/spas are part of the growing Aveda network. "Our intention is to use our new public vehicle to roll up additional salons that sell AVEDA(TM) products, and potentially other environmentally conscious health and beauty companies. We are considering acquiring up to four established salon operations during 2007, and are in final discussions on the acquisition of the Reflections salon for which a Letter of Intent was signed on June 20th."
Surber added, "Depending on the growth and success of our salon operations, we will consider either a spin-off or distribution of a stock dividend providing ownership in our new publicly-traded company to existing shareholders of Nexia Holdings."
The Stock Exchange Agreement provides for Nexia to acquire 90% of NAUC's preferred stock, which would transfer voting control to Nexia, in exchange for the transfer of $300,000, equating to approximately 60,000 shares, of Series C Preferred Nexia Stock to the current holder of the preferred shares. These shares of Series C Preferred Stock will be locked up for a period of two years. The agreement provides that the closing of the transfer will take place in 30 days. At the time of transfer, NAUC will be a non-operating entity with no assets or liabilities.
About Nexia Holdings Inc.
Nexia Holdings Inc. (OTCBB: NEXA), 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, http://www.landissalon.com, a hair salon built around the world-class AVEDA(TM) product line. Through its Gold Fusion Laboratories subsidiary, Nexia owns the innovative retail and design firm Black Chandelier and its related brands. Black Chandelier is expanding nationwide, and currently operates four retail locations and online operations at www.blackchandelier.com. For more information, visit http://www.nexiaholdings.com.
Nexia strongly encourages the public to read the above information in conjunction with its Form 10-KSB for December 31, 2006 and for the subsequent quarter during 2007. Nexia's disclosures can be viewed at www.nexiaholdings.com and www.sec.gov.
This press release contains forward-looking statements that are based on a number of assumptions, including the successful completion of the marketing plans and expansion of salon operations in a short period of time. The above statements further assume that Nexia can obtain sufficient capital to execute expansion plans through outside investments. Nexia's assumptions are further contingent upon Nexia being able to properly staff its additional locations. There are no assurances that such assumptions will prove correct. These forward-looking statements involve a number of risks and uncertainties, including an expectation of substantial increase in sales. The actual results that Nexia Holdings may achieve could differ materially from any forward-looking statements due to such risks and uncertainties.
SOURCE: Nexia Holdings, Inc.
OTC Financial Network Rick McCaffrey, 781-444-6100, x625 rick*otcfn.com www.otcfn.com/nexa or Nexia Holdings, Inc. Richard Surber, 801-575-8073, x106 RichardSurber*nexiaholdings.com www.nexiaholdings.com
posted
All thes assets of NAUC, BZCN and AuctionWagon, will be rolled into AMRE and plus they pocket 60K shares of NEXA Preferred. Plus they still have 10% of NAUC Preferred and 25 million shares of NAUC Common.
Posts: 45 | Registered: Sep 2006
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posted
Posted by: aries4747 In reply to: Peter2004 who wrote msg# 1365 Date:6/27/2007 12:57:29 PM Post #of 1369
Keep in mind, yesterday's PR was from NEXA, not AMRE. AMRE showed the info in the 8-K preceeding the PR but hasn't commented on anything yet. This isn't the old AMRE except for the share count. AMRE's previous runs, including the P & D's, broke out of nowhere when the subsidiaries didn't have a dime of revenue. NAUC and BZCN now have revenue. We just don't know what NAUC's first quarter numbers are or the BZCN year-end and first quarter figures. Delmar's dragging his feet, IMO, and the BZCN numbers should be very interesting.
Posts: 4071 | Registered: Dec 2005
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quote:Originally posted by Fuzzy1018: Posted by: aries4747 In reply to: Peter2004 who wrote msg# 1365 Date:6/27/2007 12:57:29 PM Post #of 1369
Keep in mind, yesterday's PR was from NEXA, not AMRE. AMRE showed the info in the 8-K preceeding the PR but hasn't commented on anything yet. This isn't the old AMRE except for the share count. AMRE's previous runs, including the P & D's, broke out of nowhere when the subsidiaries didn't have a dime of revenue. NAUC and BZCN now have revenue. We just don't know what NAUC's first quarter numbers are or the BZCN year-end and first quarter figures. Delmar's dragging his feet, IMO, and the BZCN numbers should be very interesting.
interesting post and totally agreed AMRE should release some sort of news
Posts: 45 | Registered: Sep 2006
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posted
I was positive this will go into the /002's today, ohh well there's always tom. Too many other plays today, that may be the reason, we didn't get enough buying here. good luck all
Posts: 4071 | Registered: Dec 2005
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