SALT LAKE CITY, UT--(Marketwire - July 14, 2010) - Nexia Holdings, Inc. (
Since August of 2009, the Depository Trust Corporation (DTC) has refused to accept for deposit shares of the common stock of Nexia. Without any prior notice or due process, DTC has placed what is known as a "chill" on all such deposits. Nexia has provided all the information requested by DTC more than two months ago to remove the chill. DTC has not lifted the chill nor can Nexia obtain any explanation or basis for the existence of the chill. The Company is working to have the chill resolved and is exploring its various options.
Nexia's CEO, Richard Surber, noted that, "While the chill persists, it is my understanding that no additional shares can enter the public markets. The chill in effect has locked the current float in place until the unknown issue is resolved. The chill has damaged Nexia's ability to raise additional capital."
About Nexia Holdings Inc.
Nexia Holdings Inc. (
Nexia strongly encourages the public to read the above information in conjunction with its filings and disclosures in 2009 and 2010. Nexia's disclosures can be viewed at www.nexiaholdings.com, and www.pinksheets.com.