SOURCE: Nexia Holdings, Inc.
SALT LAKE CITY, UT--(Marketwired - Oct 4, 2013) - Nexia Holdings, Inc. (PINKSHEETS: NXHD), the parent company of Green Endeavors, Inc. (OTCQB: GRNE), announced today that its outside counsel Clyde Snow & Sessions submitted a legal opinion which is designed to clear the DTCC chill.
Richard Surber, CEO of Nexia, commented, "I expect the DTCC chill to be removed based upon the excellent work of our outside counsel and the fact that it is my belief Nexia was always in full compliance. We went through this process successfully with GRNE and I expect the same result with Nexia."
Mr. Surber continued, "Now that our majority owned subsidiary GRNE is current with its SEC filings, we will turn our efforts to getting Nexia back to current status with OTC Markets and eventually bringing Nexia back to fully reporting status with SEC. Film revenues and deposits, real estate rental revenues coupled with GRNE's revenues are estimated to exceed $5M for fiscal year 2013. I am continuing my efforts to clean up the share structure as well, which includes retiring a substantial portion of the Series C stock. All rogue sellers in Nexia have been eliminated and no new shares will be allowed to enter the market until we are current with our financial reporting."
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., Landis Salons II, Inc. and the Aveda™ Experience Center at City Creek, www.landissalon.com, hair and skin care built around the world-class AVEDA™ product line. Nexia through Redline Entertainment, Inc. has acquired the rights to several independent films. Learn more at 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.