Nexia Holdings reported its second quarter results for the three and six month periods ended June 30, 2007. Gross revenues increased significantly from $365,107 for the three months ended June, 30 2006 to $739,610 for the same period this year. The company stated that the increase was due to inclusion of sales revenue from the operation of the Landis Salon and revenue from the Black Chandelier operations of Gold Fusion Laboratories Inc.
Richard Surber, CEO of Nexia, stated, “I am anticipating a substantial increase in revenues as we prepare and head into the holiday sales season. I am currently working on obtaining a business line of credit that will allow Nexia’s Gold Fusion to purchase and/or manufacture upwards of $750,000 (retail value) in additional inventory.”
He continued, “Subsequent to the second quarter of 2007, Nexia acquired the second of many existing salons in the U.S. that exclusively sell and adhere to AVEDA™ operational guidelines, an early pioneer in eco-friendly practices. We believe the environmentally conscious consumer is the wave of the future, and the roll-up of AVEDA salons prepares us to capitalize on one of the fastest growing trends in the world’s health and beauty industries. Anthony Newby, our newly appointed Marketing Director; Sean Pasinsky, Director of Business Development; Matthew Landis, Founder and Senior Stylist of Landis Salons, and myself are strategically laying the groundwork to acquire existing as well as new salon locations in the U.S.”
In conclusion he commented, “It is possible that Nexia will acquire three or more additional locations before year’s end. Our goal is to generate upwards of $10 million in gross revenues by the end of 2008, if we are able to successfully acquire the salon locations that we are currently in preliminary negotiations with by December 31, 2008. I would venture to say that Nexia Holdings is the best sub-penny opportunity on the OTCBB, despite my obvious bias.”
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