1/16/2007 11:57:25 AM ET News Release Index
Nexia Holdings CEO Issues Annual Update to Shareholders
SALT LAKE CITY, Jan 16, 2007 /PRNewswire-FirstCall via COMTEX News Network/ --
Nexia Holdings, Inc. ("Nexia") (OTC Bulletin Board: NEXH), a diversified holding company with operations in real estate, health & beauty, and the fashion retail industry, announced today the following letter to shareholders from Company CEO Richard Surber.
Dear Valued Shareholder:
As CEO of Nexia Holdings, Inc. ("Nexia"), I am pleased to highlight some of our accomplishments in 2006 and discuss those catalysts positioning us for future growth.
Nexia focuses on acquiring ownership of, and investment in, companies that are breakout performers in their respective niche markets. Through Nexia's wholly owned subsidiary Gold Fusion Laboratories, the Company owns the retail franchise Black Chandelier ("BC"), and its related trademarks Jared Gold, Olfactory Surrealism and Pink Chandelier. Acclaimed designer Jared Gold, whose designs were recently featured on the popular TV show America's Next Top Model 2006, leads our fashion retail concept.
In December, we expanded our footprint in Utah, opening a fourth store located in Provo. We continue to operate three BC stores in the Salt Lake City area. BC's overall concept is to create a type of "mass personalization." By manufacturing the majority of our offerings in-house, we remain an agile retailer who brings a signature style driven by individuality and consumer choice. We expect BC can achieve double-digit growth in revenues at year-end 2007. In five years, we expect to open at least 50 additional BC retail locations throughout the United States.
Mathew Landis, a professional hair stylist with over a decade of experience at Aveda(TM), directs our health & beauty concept. Nexia owns the Landis Lifestyle Salon ("Landis"), which sells hair care products and provides professional hair styling, and skin, foot and nail care spa treatments exclusively using Aveda's plant-and flower-derived products. With only one salon operating, Landis generated $1,326,000 in annual revenues (unaudited) in 2006. Landis plans to open two additional salon locations in upwardly mobile areas of Salt Lake City during 2007.
Our real estate concept is focused on acquiring undervalued properties, which are often overlooked by larger real estate developers, in the Salt Lake City region. Our current holdings are valued at over $3 million, and we remain focused on increasing occupancy and rental income from our commercial holdings. Our collective goal at Nexia is to raise total annual revenues to $50 million. Through carefully creating and capitalizing on a diversified and expanded portfolio of assets, we plan on achieving our objectives.
I would encourage you to review a recent InvestorFacts report on the company at http://www.otcfn.com/nexh/report.pdf. For future updates, stock information and to be placed on our email and/or mailing list, please visit http://www.otcfn.com/nexh. You may also visit our corporate website at www.nexiaholdings.com. Should you have specific questions, please contact our Investor Relations Specialist Rick McCaffrey at OTC Financial Network by telephone: 781-444-6100, ext. 625 or email rick@otcfn.com.
Our management team and staff are committed to providing the best services and products possible, while contributing towards building long-term shareholder value. As always, thank you for your continued interest and support of Nexia Holdings, Inc. (OTCBB: NEXH).
Sincerely, Richard Surber CEO, Nexia Holdings, Inc. About Nexia Holdings Inc.
Nexia Holdings Inc. is a diversified holding company focused on three areas of development: Real Estate - seeks out the acquisition and renovation of undervalued real estate properties which have the potential to increase in value and generate positive cash flows. Health & Beauty - owns a majority interest in Landis Lifestyle Salon, http://www.landissalon.com, a successful, revenue generating hair salon built around the world-class AVEDA(TM) product line. Fashion Retail - focuses on those designers with signature style and who have proven themselves in the fashion industry across multiple vertical markets. The Company has ownership in Black Chandelier, www.blackchandelier.com, an innovative clothing designer and retailer. For more information, visit http://www.nexiaholdings.com.
Safe Harbor Statement: The Private Securities Litigation Reform Act of 1995 provides a "Safe Harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward- looking statements with respect to events, the occurrence of which involved risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.
CONTACT: Investor Relations: At the Company: OTC Financial Network Nexia Holdings, Inc. Rick McCaffrey, IR Specialist Richard Surber, CEO 781-444-6100, x625 801-575-8073, x106 rick@otcfn.com RichardSurber@nexiaholdings.com www.otcfn.com/nexh http://www.nexiaholdings.com
SOURCE Nexia Holdings, Inc.
Richard Surber, President of Nexia Holdings, Inc., +1-801-575- 8073 x106, or fax, +1-801-575-8092, or RichardSurber@nexiaholdings.com; or Investor Relations, Rick McCaffrey, IR Specialist of OTC Financial Network for Nexia Holdings, Inc., +1-781-444-6100 x625, or rick@otcfn.com http://www.nexiaholdings.com
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