SALT LAKE CITY, UT -- (Marketwire) -- 06/25/09 -- Richard Surber, CEO of Nexia Holdings,
Inc. (PINKSHEETS: NXHD), 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), 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), 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.
