Nexia CEO Richard Surber Issues Update to Shareholders
February 22 2007 - 11:04AM
PR Newswire (US)
SALT LAKE CITY, Feb. 22 /PRNewswire-FirstCall/ -- Nexia Holdings,
Inc. (OTC:NEXA) (BULLETIN BOARD: NEXA) , a diversified holdings
company with operations in real estate, fashion retail and health
& beauty, provided an update to shareholders today from Company
CEO Richard Surber. Dear Valued Shareholder: I am pleased to report
that Nexia is on the right track. As we near the close of the month
of February, I am very impressed with our retail gross revenues.
From February 1 to 20, 2007, retail sales totaled $189,662 compared
to $67,931 for the comparable period in 2006, a 279% increase. This
increase is attributed not only from additional locations, but also
double digit percentage increase in comparable same stores. Strong
year- over-year growth is particularly impressive considering
retail apparel and beauty sales are generally low in the month of
February. Founder and head designer of Black Chandelier Jared Gold
is preparing to unveil his 2007 Spring Collection called
"Nijinsky." Jared Gold's Spring Collection will be manufactured in
multi-million dollar facilities located in both China and India.
Clothing is made through high-tech computer designs that produce
well-constructed garments for the discerning customer. Many styles
will be made out of this season's highly sought after silk-like
bamboo fiber. Bamboo fiber is a renewable resource that provides
stability for commerce in developing countries. Our manufacturing
partnerships will reiterate Black Chandelier's global fashion
presence and compelling retail ingenuity. This will also secure
production capacity as sales increase. As we expand into new
locations coast- to-coast, outsourcing was a necessary step to
either improve or maintain the quality and integrity of the Black
Chandelier and Jared Gold labels, while minimizing costs. Black
Chandelier's goal is to provide innovative designs at price points
that are accessible to a wide range of consumers. Our newly
appointed branding director Andy Montana will play an instrumental
role in guiding our Black Chandelier retail concept into a national
franchise on a profitable basis. In other news, Nexia's subsidiary
Diversified Holdings, Inc. has realized about $200,000 over the
last three days from the sale of a portion of its holdings in China
Fruits Corporation (OTC:CHFR) (BULLETIN BOARD: CHFR) . I sold a
portion of the Company's portfolio securities to fund inventory
production and development costs for spring inventory. I believe
Nexia's upward revenue retail growth trend will continue and lead
to enhanced shareholder value throughout 2007. Sincerely, Richard
Surber CEO of Nexia Holdings, Inc. About Nexia Holdings Inc. Nexia
Holdings Inc, headquartered in Salt Lake City, Utah, is a
diversified holdings company with operations in real estate, health
& beauty, and fashion retail. The Company has been acquiring
undervalued properties in the Salt Lake City area since the early
1990s. Nexia owns a majority interest in Landis Lifestyle Salon,
http://www.landissalon.com/, and operates four Black Chandelier
retail locations and an online store at
http://www.blackchandelier.com/. For more information on Nexia,
visit http://www.nexiaholdings.com/. Nexia strongly encourages the
public to read the above information in conjunction with its Form
10-KSB for December 31, 2005 and for the subsequent quarters during
2006. Nexia's disclosures can be viewed at
http://www.nexiaholdings.com/ and http://www.sec.gov/. This press
release contains forward-looking statements that are based on a
number of assumptions, including the potential market response to
spring designs, the successful completion of the marketing plans
and expansion of Gold Fusion Laboratories, Inc. operations. The
above statements further assume that Nexia can obtain sufficient
capital to execute its announced expansion plans through outside
investments including but not limited to obtaining significant
leasehold improvements and sufficient lines of credit to fund the
opening of additional Gold Fusion Laboratories, Inc. locations.
Nexia's assumptions are further contingent upon Gold Fusion
Laboratories, Inc. being able to properly staff its additional
locations. There are no assurances that such assumptions will prove
correct. These forward-looking statements involve a number of risks
and uncertainties, including an expectation of substantial increase
in sales. The actual results that Nexia Holdings may achieve could
differ materially from any forward-looking statements due to such
risks and uncertainties. FOR MORE INFORMATION, CONTACT: Richard
Surber, President Nexia Holdings, Inc. 801-575-8073 x106 or For
Investor Relations: OTC Financial Network Rick McCaffrey
781-444-6100 x625 http://www.otcfn.com/nexa DATASOURCE: Nexia
Holdings, Inc. CONTACT: Richard Surber, President, of Nexia
Holdings, Inc., +1-801-575-8073 x 106, or ; or Investor Relations,
Rick McCaffrey of OTC Financial Network, +1-781-444-6100 x625, or
Web site: http://www.nexiaholdings.com/ http://www.otcfn.com/nexa
http://www.landissalon.com/ http://www.blackchandelier.com/
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