Nexia Holdings announced that it has achieved many key milestones this year. The company provided a list of the most significant goals accomplished:
• Increased total revenues by $696,000 to $1,710,000 in the first seven months of 2007 as compared to the same period in 2006;
• Completed the purchase of 100% of Newby Salon LLC, an AVEDA(TM) lifestyle salon;
• Increased ownership in Landis LLC from 20% to 85%, providing us majority control over integrating newly acquired salons
• Soon to close on the purchase of Green Endeavors Ltd.(OTC:GRNE), which will create a public vehicle for our AVEDA salon operations
• Leased and completed the build-out of four Black Chandelier retail store locations;
• Realized cash of $322,000 from the sale of portfolio securities;
• Acquired undeveloped land next to our existing State Street property in Salt Lake City for $250,000 in anticipation of future development of the combined properties
• Leased out 100% of its State Street property
• Refinanced over $1.4 million worth of debt at favorable terms
• Believed to be nearing completion of comments on Nexia’s SB-2 Offering document for equity line of credit up to $10Million
• Established overseas relationship with China and India manufacturers
• Redesigned and launched our websites: www.nexiaholdings.com, www.blackchandelier.com, and http://www.landissalon.com/;
• Assembled world class team of employees, including the appointment of Andy Montana as Director of Marketing
• Embarked upon major marketing and branding campaigns for Black Chandelier and Jared Gold clothing labels which included an exclusive styling of the WWE Divas by Jared Gold for a televised event on the Raw channel (Jared Gold with WWE Divas); and Black Chandelier’s Bejeweled Hissing Cockroach Broach was featured in the episode of CSI-New York “A Daze of Wine and Roaches.”
The CEO, Richard Surber, stated, “We are very grateful for the hard work and dedication our staff and managers have placed in Nexia to enable us to achieve these key milestones. We also thank our shareholders for the support throughout the past 12 months. Nexia’s market cap is less than the retail value of its inventories at this point in time, and we believe our true value in the marketplace is significantly higher. Our revenues, including the sale of portfolio securities, should approach $4 Million by year end 2007.”
He concluded, “There is unprecedented growth opportunity in Nexia as we move forward with bringing our Landis subsidiary public, and the build-out of Black Chandelier as a ‘brick and click’ business. Management is steadfast in its resolve to grow Nexia’s operating subsidiaries, and we are making real headway towards accomplishing our goals. Every great success story is riddled with challenges, but our intention is to make Nexia a success story for our shareholders, customers and employees.”
Please share your thoughts: Nexia Holdings Message Board