The actual results that Nexia Holdings, fashion retail and real estate, may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Let's better see what Nexia wants to obtain on the market.
Nexia Holdings Inc Press Release:
Nexia Holdings Inc a diversified holdings company with interests in health & beauty, fashion retail and real estate, announced that it has closed on the purchase of 90% of the issued and outstanding stock of Green Endeavors Inc from AmeriResource Technologies Inc in exchange for the issuance of 150,000 restricted shares of Nexia's Series C Preferred Stock with a stated value of $5.00 per share. GRNE holds 13 million shares of BizAuctions Inc with a market value of approximately $950,000 and convertible debt of $171,000. GRNE is now a majority owned subsidiary of Nexia. Nexia has plans to spin-out its Landis Lifestyle Salon operations into the publicly traded Green Endeavors Inc. President of Nexia Holdings Inc, Richard Surber, commented, "The acquisition of GRNE is a winning situation for all parties.
Existing shareholders of Nexia stand to gain a stock dividend in GRNE directly, which not only immediately adds to shareholder value but provides an incentive for Nexia shareholders to remain long-term holders."
"GRNE will be able to supplement the cash needs of our salon operations, while AMRE will be able to streamline its operations and will remain a minority holder in GRNE and Nexia. GRNE shareholders will own part of a fast-growing salon operation with ambitious growth plans, which Nexia believes will generate over $2.2 million in gross revenues in 2007."
"BZCN shareholders may benefit through entering into a strategic alliance with Nexia's wholly-owned subsidiary Gold Fusion Laboratories Inc, owner of the Black Chandelier retail brand. The Black Chandelier clothing operation will gain access to a popular channel to sell excess inventory through BZCN's online auction platform," added Surber. Delmar Janovec, CEO of AMRE, said, "I am very impressed with Nexia's operations.
This transaction should provide significant value to AMRE's shareholders in the form of increasing the value of its remaining GRNE shares as well as being a groundfloor investor in Landis salons and Nexia's newly aligned operations. I have confidence in Richard Surber and his team to grow and create shareholder value for everyone involved."
Nexia Holdings Inc
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