Nexia's CEO's 2014 Letter to Shareholders
January 24 2014 - 2:45PM
Marketwired
Nexia's CEO's 2014 Letter to Shareholders
SALT LAKE CITY, UT--(Marketwired - Jan 24, 2014) - Nexia
Holdings, Inc. (PINKSHEETS: NXHD) is pleased to release the
following letter to its shareholders:
Dear Shareholders:
Over the last several years Nexia has focused its efforts on
redefining, restructuring and developing its operations. Nexia
has dissolved several subsidiaries, extinguished a substantial
amount of debt and restructured its preferred and common stock
through retiring large blocks of such shares. Efforts to
improve Nexia's financial position will continue through 2014.
My team expects to bring Nexia's financials' current with OTC
Markets. Once Nexia regains current status on OTC Markets, we
will look to bring Nexia back to fully reporting status with the
Securities and Exchange Commission. Our website is currently
being revamped and we expect to improve our online presence on our
Facebook, Twitter, YouTube and LinkedIn accounts upon completion of
retooling our site at www.nexiaholdings.com.
Nexia, through its film subsidiaries WG Productions Company (FKA
Revel Entertainment, Inc.) and Redline Entertainment, Inc., has
established a foothold in the production and distribution of
feature length films. WG is a film production company and
Redline is a film distribution company. Nexia's intent is to
step-up its efforts in producing and distributing its own
independent feature length films, as well as performing production
and distribution services for outside parties for fees.
Some notable films that WG and Redline have worked on include:
The Kane Files, Scoot & Kassie's Christmas
Adventure, K-9 Adventures: Legend of the Lost Gold,
The Adventures of RoboRex, Love and Mary,
Vamp U, Moving McAllister, Repo, The
Crown and Dragon, and Pirates of the Great Salt
Lake. Some of the notable actors that have starred in the
above films include: Mila Kunis, Jon Heder, Jason Mewes, and Luke
Perry. WG was recently retained to produce five films for a third
party. Our team is currently working on the second film and we
will release trailers for the films upon their
completion. Depending on certain revenue recognition rules
that we are currently researching, it is likely that our film
revenues may exceed revenues from our other operations by
2015. Please see IMDB or our YouTube page at
https://www.youtube.com/user/nexiaholdings to view trailers of
the films.
Nexia's 90% owned subsidiary, Green Endeavors, Inc. (OTCQB:
GRNE), is on track to release its annual results in its Form 10K by
April 15, 2014. GRNE has grown its top line revenues every
year since acquiring the Landis Lifestyle Salon operations. We
will continue our efforts to increase same store sales while
seeking additional locations. GRNE currently has three
locations that hold the licenses to sell a full array of Aveda™
products. Aveda™ is a subsidiary of Estee Lauder
Companies. Revenues for 2013 are expected to exceed
$3.5M. GRNE posted a net profit for the quarter ended
September 30, 2013. We are looking to raise at least $1M to
acquire or build out additional locations. Our long term plan
includes expansion outside of Utah.
Nexia's various real estate subsidiaries operate a 6,000 square
foot retail property and 2 residential homes. Nexia will
continue to look for additional promising properties to
acquire.
Our team is ready for a very successful 2014. I feel that
we have recreated Nexia and set the stage for success. Please
stay tuned for additional disclosures and press releases as we grow
our operations.
Sincerely,
Richard Surber CEO and Director
About Nexia Holdings, Inc.:
Nexia Holdings, Inc. (PINKSHEETS: NXHD), headquartered in Salt
Lake City, Utah, is a diversified holdings company with operations
in entertainment, health & beauty, and real estate, Nexia owns
a majority interest Green Endeavors, Inc. (OTCQB: GRNE),
www.green-endeavors.com, which operates Landis Lifestyle Salons,
www.landissalons.com, hair salons built around the world-class
AVEDA™ product line and Aveda™ at City Creek.
www.avedaatcitycreek.com. Through its newly acquired
entertainment division, WG Productions Company and Redline
Entertainment, Inc., Nexia has plans to acquire the rights to
several independent films as well produce independent feature
length films for third parties and for its own account. For more
information, visit www.nexiaholdings.com.
Nexia strongly encourages the public to read the above
information in conjunction with its reports filed at
www.pinksheets.com. Nexia will require a significant influx
of capital in order to effectively execute upon its various
operational plans. The actual results that Nexia may achieve
could differ materially from any forward-looking statements due to
such risks and uncertainties. Investors should not invest more
than they can afford to lose in penny stocks.