Nexia Holdings announced this morning that it has settled all claims from a debenture signed in 2004. The company issued 200,000 shares of Series C Preferred Stock to settle the claims valued at approximately $278,000.
The CEO of Nexia, Richard Suber, stated, “I am pleased with this opportunity to exchange debt for equity in the Company and believe that it will serve to strengthen the balance sheet and improve the financial performance of the Company, especially over the long term. I am excited to have this investment in Nexia’s future growth and the confidence it expresses in our potential to achieve continued success.”
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