SOURCE: Nexia Holdings, Inc.

Nexia Holdings, Inc.

December 02, 2014 08:30 ET

Richard Surber Continues Share Redemption Efforts: Nexia Holdings Cancels an Additional $218K Worth of Series C Stock

SALT LAKE CITY, UT--(Marketwired - Dec 2, 2014) - Nexia Holdings, Inc. (OTC PINK: NXHD) reports that it has cancelled an additional 43,610 shares of Series C Preferred Stock which had a stated conversion value of $218,050. The cancellation of these shares is part of our continuing efforts to improve shareholder value.

Richard Surber, CEO of NXHD, explained, "We are working towards buying back or cancelling as much preferred as possible. I expect to eliminate as much as $1.2M in additional Series C Preferred Stock in the coming months. At that point, most of the convertible will be held by insiders and other long term investors that have investment intent or restrictions on resale."

Mr. Surber continued, "Once we have redeemed, cancelled, or otherwise repurchased as many shares as possible, Nexia is considering a reduction of its authorized common shares. There are various accounting rules that have prevented us from reducing the authorized shares without negatively impacting the balance sheet. With a higher price per share of our common stock, and our efforts to reduce the issued and outstanding preferred we will be able to carry out a substantial reduction in authorized shares."

Nexia has redeemed, cancelled or otherwise repurchased 562,610 shares of Series C Preferred Stock with a stated conversion value of $ 2,813,050 over the last 24 months.

About Nexia Holdings, Inc.:

Nexia Holdings, Inc. (OTC PINK: 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. (OTC PINK: 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. WG Productions Company is also the majority owner of Slide the City LLC and The Lantern Fest LLC. 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.