Nexia Holdings Begins Trading Under New OTCBB Symbol 'NEXA' 2/20/2007
Nexia's Black Chandelier Plans New Location in Trolley Square 2/20/2007
Nexia Holdings Announces Reverse Stock Split 2/15/2007
Nexia Holdings Reports Sales Increases in January 2007 2/7/2007
Nexia Holdings Appoints National Brand Strategist 2/6/2007
Black Chandelier Inks Expansion Deal 2/1/2007
Nexia Holdings Begins Trading Under New OTCBB Symbol 'NEXA'(return to top)
2/20/2007 1:40:49 PM ET
SALT LAKE CITY, Feb. 20 /PRNewswire-FirstCall/ -- Nexia Holdings, Inc. (OTC Bulletin Board: NEXH) (OTC Bulletin Board: NEXA), a diversified holdings company with operations in real estate, health & beauty, and fashion retail, announced today that pursuant to its previously announced 1-for-10 reverse split of its common stock that is effective today, the Company has been assigned the new trading symbol of NEXA. Effective at the open of trading today, Nexia's OTCBB trading symbol will change from NEXH to NEXA.
About Nexia Holdings Inc.
Nexia Holdings Inc, 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, and operates four Black Chandelier retail locations and an online store at http://www.blackchandelier.com. For more information on Nexia, 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, 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 contains forward-looking statements that are based on a number of assumptions, including the potential market response to the reverse stock split, the successful completion of the marketing plans and expansion of Gold Fusion Laboratories, Inc. operations. The above statements further assume that Nexia can obtain sufficient capital to execute its announced expansion plans through outside investments including but not limited to obtaining significant leasehold improvements and sufficient lines of credit to fund the opening of additional Gold Fusion Laboratories, Inc. locations. Nexia's assumptions are further contingent upon Gold Fusion Laboratories, Inc. 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.
FOR MORE INFORMATION, CONTACT:
Richard Surber, President
Nexia Holdings, Inc.
801-575-8073 x 106
RichardSurber@nexiaholdings.com
or
For Investor Relations:
OTC Financial Network
Rick McCaffrey
781-444-6100 x 625
rick@otcfn.com
http://www.otcfn.com
SOURCE Nexia Holdings, Inc.
Nexia's Black Chandelier Plans New Location in Trolley Square(return to top)
2/20/2007 1:39:59 PM ET
SALT LAKE CITY, Feb. 20 /PRNewswire-FirstCall/ -- Nexia Holdings, Inc. (OTC Bulletin Board: NEXA), through its wholly owned subsidiary Gold Fusion Laboratories Inc., announced today its plans to open a new location for its Black Chandelier retail operations in Trolley Square. Richard Surber, President of Nexia Holdings, Inc., reports that final negotiations are taking place to lease a 1,899 square foot location in Trolley Square, following the property owners plan for a multi-million dollar renovation of the shopping center that is expected to begin next month.
'We are excited to bring the Black Chandelier design to a new space. The investment of $180,000 in the new space can revamp our customers' shopping experience, creating a new sense of wonder and innovation that is synonymous with the Black Chandelier brand name. I expect the build out of a superior retail space at our flagship store location will result in increased sales beginning this year,' Surber commented. The new location would be on the second floor and on the northeast corner of the center. The renovations are expected to increase the total retail area of the center from 160,000 square feet to approximately 180,000 square feet. Surber expressed the opinion that the new facility will create the most upscale mall in the Salt Lake Valley.
Jared Gold, Black Chandelier Founder and Head Designer, said, 'Trolley Square is the birthplace of our retail concept. We are excited to remain in the facility and to retain its special meaning as an integral part of our overall growth.'
Trolley Square currently includes such national retailers as Pottery Barn, Restoration Hardware and Williams Sonoma. The managers have announced that the renovation will lead to the addition of a Whole Foods store and an underground parking terrace.
Nexia strongly encourages the public to read the above information in conjunction with its Form 10-KSB for December 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 contains forward-looking statements that are based on a number of assumptions, including the successful completion of the marketing plans and expansion of Black Chandelier 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 including but not limited to obtaining significant leasehold improvements, including landlord contributions and sufficient lines of credit to fund the opening of additional Black Chandelier locations. Nexia's assumptions are further contingent upon Black Chandelier 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.
FOR MORE INFORMATION, CONTACT:
Richard Surber, President
801-575-8073 x 106
Fax: 801-575-8092
or email RichardSurber@nexiaholdings.com
SOURCE Nexia Holdings, Inc.
Nexia Holdings Announces Effective Date for 1-for-10 Reverse Stock Split(return to top)
2/15/2007 1:42:19 PM ET
Nexia Holdings, Inc. (OTC Bulletin Board: NEXH), a diversified holdings company with operations in real estate, health & beauty, and fashion retail, announced today that a 1-for-10 reverse split of its common stock will become effective as of the open of market Tuesday, February 20, 2007. Nexia's trading symbol on the OTCBB will change as of the effective date. Once the NASD assigns the new symbol, the Company will announce it publicly. All shareholders on record as of January 11, 2007 will be eligible to receive the split.
"The Board and management team at Nexia believe a reverse stock split is in the best interest of our shareholders. The action of the reverse stock split will increase the market price of our common stock, while reducing the amount of common shares outstanding. Currently, the spread between the ask and bid price is approximately 50%. This reverse split will reduce the ask and bid spread to about 5%, making our shares more attractive to shareholders. We expect this action will also increase our liquidity and visibility, including reaching institutional investors," said Richard Surber, President of Nexia Holdings.
Mr. Surber continued, "I believe Nexia's current market capitalization is grossly undervalued relative to our recent corporate developments and prospects for growth. My belief is that this split will set the foundation to increase our trading activity and enhance our market capitalization."
As set forth in the Company's Form 14C filed at http://www.sec.gov and previous mailing to stockholders, the Board believes that the reverse stock split will enhance the Company's flexibility with regard to the ability to issue common stock for proper corporate purposes that may be identified from time to time, such as financing, acquisitions, compensation of employees, and the establishment of strategic business relationships with other companies or the expansion of Nexia's business or product lines through the acquisition of other businesses or products.
The reverse will be carried out on a 1-for-10 basis, with all fractional shares rounded up to the next whole share. The percentage interest of all existing shareholders will remain essentially the same and the intent is to make the reverse free of any tax consequences for existing shareholders.
About Nexia Holdings, Inc.
Nexia Holdings, Inc., 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, and operates four Black Chandelier retail locations and an online store at http://www.blackchandelier.com. For more information on Nexia, 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, 2005 and for the subsequent quarters during 2006. Nexia's disclosures can be viewed at www.nexiaholdings.com and www.sec.gov.
FOR MORE INFORMATION, CONTACT: Richard Surber, President Nexia Holdings, Inc. 801-575-8073 x 106 RichardSurber@nexiaholdings.com or For Investor Relations: OTC Financial Network Rick McCaffrey 781-444-6100x625 rick@otcfn.com
Richard Surber, President of Nexia Holdings, Inc., +1-801-575-8073 x 106, or RichardSurber@nexiaholdings.com; or for Investor Relations, Rick McCaffrey of OTC Financial Network, +1-781-444-6100 x625, or rick@otcfn.com http://www.nexiaholdings.co
Nexia Holdings Reports Record Monthly Sales Increases in January 2007(return to top)
-Black Chandelier Sales Up 282% and Landis Sales Increase 55% Year-over-Year-
SALT LAKE CITY, Feb 07, 2007 /PRNewswire-FirstCall via COMTEX News Network/ --
Nexia Holdings, Inc. (OTC Bulletin Board: NEXH), a diversified holdings company with operations in real estate, health & beauty, and fashion retail, announced today preliminary total revenues of $207,000 for the month of January 2007, representing a record increase of 68% compared to total revenues of $123,031 for the month of January 2006. Amounts were compiled on a proforma basis, including the Black Chandelier operation, which was purchased in September of 2006. Nexia Holdings attributed the increase in monthly revenues to growth in Landis Salon sales and the addition of three Black Chandelier retail stores opened during 2006.
Nexia's subsidiary Gold Fusion Laboratories, Inc. reported that Black Chandelier's system wide operation preliminary sales increased 282% in January 2007 compared to January 2006. Sales were calculated on a proforma basis, since the purchase of the Black Chandelier was in September of 2006. The increase was from the opening of three additional retail outlets and continual monthly sales increases per store during 2006. The 282% increase provides further support for the planned growth of operations for the retail fashion chain represented by Black Chandelier and the future expansion plans over the next five years.
Revenue estimates from the Landis Salon operations of Nexia increased by 55% to $126,000 for the month of January 2007 compared to revenues of $81,364 for the month of January 2006. Landis projected annual sales for 2006 were $891,450. The actual sales (unaudited) for 2006 were $1,326,013, exceeding management's initial projection by $434,563, or 49%.
Richard Surber, president of Nexia Holdings, Inc., stated, "The continued monthly sales increases from the Landis Salon operations reaffirms the salon's tremendous growth potential and will continue to fuel our expansion plans of the Landis concept. The salon's January increase follows an 87% increase in revenue for December 2006 compared to the same period in 2005. With Landis on a strong upward growth trend, I reaffirm that we are on target to generate annual revenues of $1.9 million from this single flagship Landis location in 2007."
About Nexia Holdings Inc.
Nexia Holdings Inc, 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. For more information on Nexia, visit http://www.nexiaholdings.com.
Gold Fusion Laboratories currently operates four Black Chandelier retail locations in the Salt Lake area, and its web store at www.blackchandelier.biz. Black Chandelier designs, produces, and manufactures a majority of the items 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. To find additional information about Black Chandelier go to www.blackchandelier.com.
Nexia strongly encourages the public to read the above information in conjunction with its Form 10-KSB for December 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 contains forward-looking statements that are based on a number of assumptions, including the successful completion of the marketing plans and expansion of Black Chandelier and Landis operation in a short period of time. The above statements further assume that Nexia can obtain sufficient capital to execute expansion plans through outside investments including but not limited to obtaining significant leasehold improvements and sufficient lines of credit to fund the design and manufacture of Black Chandelier products on a substantially larger scale. Nexia's assumptions are further contingent upon the appeal of its products and concepts to at least one major or national REIT or other retail shopping mall owner. 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.
Contact: For Nexia Holdings, Inc. Richard Surber, President 801-575-8073 x 106 Fax: 801-575-8092 RichardSurber@nexiaholdings.com or For Investor Relations: Rick McCaffrey OTC Financial Network 781-444-6100 x 625 rick@otcfn.com http://www.otcfn.com/nexh
SOURCE Nexia Holdings, Inc.
Richard Surber, President of Nexia Holdings, Inc., +1-801-575-8073 x 106, or fax, +1-801-575-8092, or RichardSurber@nexiaholdings.com; or Investors, Rick McCaffrey of OTC Financial Network, +1-781-444-6100 x 625, or rick@otcfn.com http://www.nexiaholdings.com
Copyright (C) 2007 PR Newswire. All rights reserved
Nexia Holdings Appoints National Brand Strategist Andy Montana To Spearhead Retail Growth(return to top)
SALT LAKE CITY, Feb 06, 2007 /PRNewswire-FirstCall via COMTEX News Network/ --
Nexia Holdings, Inc. (OTC Bulletin Board: NEXH), through its wholly owned subsidiary Gold Fusion Laboratories, announced today that it has retained the services of Andy Montana to direct the growth strategies of its retail chain Black Chandelier. Montana brings over 12 years of experience in developing, creating, and executing brand and retail strategies. Most recently, Montana was part of the LoveSac brand and retail chain and helped grow them from 10 to 80 stores nationwide. His efforts helped increase annual revenue from $3 million to over $20 million system wide. In addition to these efforts, his strategies also helped re-launch the "beanbag" fad as a pop culture staple.
"We have very aggressive goals and Andy Montana's experience and reputation is exactly what we need to reach the next level," stated Richard Surber, CEO of Nexia Holdings, Inc. "Black Chandelier's mission is to achieve $50 million in revenues by 2011. Andy's proven track record in dealing with retail and distribution companies can help us create new cost efficiencies and deliver profitable results as we continue our national expansion plan."
"I am very excited to be part of the Black Chandelier brand and retail chain. Designer Jared Gold has such a unique vision of mass personalization, developing innovative designs and merchandise that speak to consumers' need for individuality. As we build out the retail concept nationwide, I believe we can improve retail operations, product development, distribution, and marketing plans in order to achieve the company's goals. In the near-term, our plans are to open standalone stores within upscale malls. Over the long-term, we believe the opportunity will present itself to resell our merchandise through established, national retail chains. We will evaluate new market opportunities as they arise," said Andy Montana.
About Nexia Holdings Inc.
Nexia Holdings Inc. (OTC Bulletin Board: NEXH), 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, 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 contains forward-looking statements that are based on a number of assumptions, including the successful completion of the marketing plans and expansion of Gold Fusion Laboratories, Inc. 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 including but not limited to obtaining significant leasehold improvements and sufficient lines of credit to fund the opening of additional Gold Fusion Laboratories, Inc. locations. Nexia's assumptions are further contingent upon Gold Fusion Laboratories, Inc. 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.
FOR MORE INFORMATION, CONTACT:
Richard Surber, President
Nexia Holdings, Inc.
801-575-8073 x 106
RichardSurber@nexiaholdings.com
or
For Investor Relations:
OTC Financial Network
Rick McCaffrey
781-444-6100x625
rick@otcfn.com
http://www.otcfn.com/nexh
Richard Surber
President of Nexia Holdings, Inc.
Tel: +1-801-575-8073 x 106
Email: RichardSurber@nexiaholdings.com
Investor Relations:
Rick McCaffrey of OTC Financial Network
Tel: +1-781-444-6100x625
rick@otcfn.com
http://www.nexiaholdings.com
Black Chandelier Inks Expansion Deal with General Growth Properties(return to top)
Nexia Holdings, Inc. (OTC Bulletin Board: NEXH), through its wholly owned subsidiary Gold Fusion Laboratories Inc., announced today its expansion plans to open its second Black Chandelier retail store with General Growth Properties (NYSE: GGP); and its fifth Black Chandelier location. The parties have agreed in principle to open a Black Chandelier retail location in the GGP-owned and operated Boise Town Square Mall located in Idaho's state capital of Boise. The Town Square Mall comprises over one million square feet of prime retail space, and currently draws over 10 million shoppers annually. The Black Chandelier store is expected to open in June of 2007. Recent pictures of the company's flagship Black Chandelier store can be viewed at http://www.blackchandelier.com/fashionplace.html.
Richard Surber, president of Nexia Holdings, Inc., stated, "We are excited to pursue the cooperation of General Growth Properties into the expansion plan of the Black Chandelier label for additional retail outlets. The opening of this store should add $1 Million in revenues within its first year of operations. I will be visiting other GGP properties in the Western United States with Jared Gold beginning in February to scout for new locations to continue our retail expansion. Our future plans include having a total of 50 operating Black Chandelier retail outlets by the end of 2011."
"Black Chandelier will join a diverse blend of today's hottest national and regional merchants in the Town Square Mall. We are very excited to move quickly with our plans to expand our innovative Black Chandelier retail concept. Our national reach will significantly grow from here," commented Jared Gold, founder and head designer of Black Chandelier.
Five major department stores anchor the Town Square Mall: Macy's, Dillard's, JCPenney, Sears and Mervyn's. Other stores exclusive to the Mall in the Boise area include: Pottery Barn, Ann Taylor, Banana Republic, Abercrombie & Fitch, American Eagle, Cheesecake Factory, Border's and Talbot's. The Town Square Mall is located at the intersection of Franklin and Milwaukee off of interstate I-84 and I-184, in the city of Boise, Idaho.
Nexia strongly encourages the public to read the above information in conjunction with its Form 10-KSB for December 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 contains forward-looking statements that are based on a number of assumptions, including the successful completion of the marketing plans and expansion of Landis 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 including but not limited to obtaining significant leasehold improvements and sufficient lines of credit to fund the opening of additional Landis locations. Nexia's assumptions are further contingent upon Landis 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.
FOR MORE INFORMATION, CONTACT:
Richard Surber, President
Tel: (801)575-8073 x 106
Fax: 801-575-8092
E-mail: RichardSurber@nexiaholdings.com
59 W 100 S Salt Lake City, UT 84101