Richard Surber, CEO of Nexia Holdings, Inc. (Pinksheets:NXHD - News), has received numerous inquiries concerning his position on a potential recapitalization of Nexia's common stock.
The concern is whether Nexia has any present plans to affect a reverse stock split because of the low stock price and the number of shares issued and outstanding. The answer to these concerns is that there is NO present intent to affect a reverse stock split.
Mr. Surber stated, "There simply is no need or any good reason to do a reverse stock based upon the current liquidity in Nexia's common stock. Nexia has had record trading volume over the last few weeks."
Mr. Surber went on to say, "I think it is important to remind shareholders that the current market capitalization of Nexia's common shares, based upon a price of $.0002, is only about $2.2M, which is tiny relative to many publicly traded companies. It is also important to add that according to Pink Sheets Nexia has traded over Eight Billion Eight Hundred Million shares (8,800,000,000) since June 10, 2009, which is essentially the entire public float."
Mr. Surber concluded, "I do not make predictions on price movement in the stock, but it is interesting to note that Nexia has gone from no bid to as high as $.0003 during the month of June. I am sure that many traders who purchased shares at $.0001 and sold for $.0002 or $.0003 are very happy with their 100% to 200% gains. However, selling at those levels seems to have created a lot of resistance at $.0002 level. I am hopeful that shareholder confidence in Nexia can be boosted if the liquidity in the commons stock continues to remain strong."
About Nexia Holdings, Inc.:
Nexia Holdings, Inc. (Pinksheets:NXHD - News), headquartered in Salt Lake City, Utah, is a diversified holdings company with operations in health & beauty and real estate. Nexia's subsidiary, Green Endeavors, LTD (Pinksheets:GRNE - News), www.green-endeavors.com, owns a majority interest in Landis Lifestyle Salon, www.landissalons.com, a hair salon built around the world-class AVEDA(TM) product line. Through its Style Perfect, Inc. subsidiary, Nexia owns an online store at www.blackchandelier.com. For more information, visit www.nexiaholdings.com.
Nexia strongly encourages the public to read the above information in conjunction with its Form 10-K for December 31, 2007 and the subsequent quarterly filings and disclosures in 2008 and 2009. Nexia's disclosures can be viewed at www.nexiaholdings.com, www.sec.gov, and www.pinksheets.com. Nexia ceased being a fully reporting company in April 2009. Investors are cautioned that they should not invest anymore than they can afford to lose in penny stocks.
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