SOURCE: Nexia Holdings, Inc.

Nexia Holdings, Inc.

April 07, 2014 08:30 ET

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.