Nexia Holdings Inc a diversified holdings company with interests in health & beauty, fashion retail and real estate, is pleased to announce it has achieved several key milestones over the past seven months of 2007.
CEO of Nexia Holdings Inc Richard Surber highlighted the Company's many accomplishments as follows: • Increased total revenues by $696,000 to $1,710,000 in the first seven months of 2007 as compared to the same period in 2006 • Completed the purchase of 100% of Newby Salon LLC, a lifestyle salon that utilizes AVEDA products exclusively • Increased ownership in Landis LLC from 20% to 85%, providing us majority control over integrating newly acquired salons • Soon to close on the purchase of Green Endeavors Ltd, which will create a public vehicle for our AVEDA salon operations • Leased and completed the build-out of four Black Chandelier retail store locations • Realized cash of $322,000 from the sale of portfolio securities • Acquired undeveloped land next to our existing State Street property in Salt Lake City for $250,000 in anticipation of future development of the combined properties • Leased out 100% of our State Street property • Refinanced over $1.4 million worth of debt at favorable terms • Believed to be nearing completion of comments on Nexia's SB-2 Offering document for equity line of credit up to $10 Million • Established overseas relationship with China and India manufacturers • Assembled worldclass team of employees, including the appointment of Andy Montana as Director of Marketing
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