Nexia Cancels $1.9 M Worth of Series C Stock
April 07 2014 - 8:30AM
Marketwired
Nexia Cancels $1.9 M Worth of Series C Stock
SALT LAKE CITY, UT--(Marketwired - Apr 7, 2014) - Nexia
Holdings, Inc. (PINKSHEETS: NXHD) reports that it has retired
379,000 shares of Nexia's Series C Preferred Stock, with a stated
conversion value of $1,895,000 of common stock. Nexia
completed the redemptions after a series of negotiations that
unwound various stock exchange agreements. Nexia has cancelled
the shares as issued and outstanding with its transfer
agent.
Richard Surber, CEO of Nexia, commented, "Obtaining the return
of these shares of outstanding preferred stock is part of my
continuing efforts to improve the capital structure of
Nexia. The redemption of these shares will significantly
curtail any future potential dilution. I will continue my
efforts to further reduce the issued and outstanding Series C
Preferred stock. Furthermore, it should be noted that no
insiders will be allowed to sell any shares into the open market
until or unless we obtain fully reporting status with the
Securities and Exchange Commission."
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 in Green Endeavors, Inc. (OTCQB: GRNE),
www.green-endeavors.com, which operates Landis Salons, Inc. and
Landis Salons II, Inc., www.landissalon.com, hair salons built
around the world-class AVEDA™ product line. Through WG
Productions Company and Redline Entertainment, Inc., Nexia produces
and distributes independent films for its own account and third
parties. Learn more at www.nexiaholdings.com.
Nexia strongly encourages the public to read the above
information in conjunction with its reports filed at
www.otcmarkets.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.