Nexia to Acquire $1M Worth of Preferred Stock in RBSY, Bringing Total Face Value of Portfolio Securities to $3.5M
| Source: Nexia Holdings, Inc.
SALT LAKE CITY, UT--(Marketwire - June 22, 2009) - Nexia Holdings, Inc. (PINKSHEETS : NXHD )
reported that it has executed a Stock Exchange Agreement with RoboServer
Systems Corporation (RBSY) to exchange 200,000 shares of Nexia's restricted
Series C Preferred Stock, with a stated conversion value of $1,000,000 for
$1,000,000 of RoboServer's Preferred Stock. The closing on the exchange is
to take place before June 27, 2009 pending the delivery of the necessary
documentation to the respective transfer agents of the two parties to the
agreement.
Mr. Surber, CEO of Nexia, commented, "With the acquisition of RBSY's
convertible preferred shares, Nexia's portfolio of investment securities
will have a face value of $3.5M. I am hopeful that Nexia will be able to
convert portions of its investments into cash upon complying with Rule 144.
Nexia just might be able to self finance the opening of multiple salons in
the coming years with the proceeds of such investment."
About Nexia Holdings, Inc.:
Nexia Holdings, Inc. (PINKSHEETS : NXHD ), headquartered in Salt Lake City,
Utah, is a diversified holdings company with operations in health & beauty
and real estate. Nexia's subsidiary, Green Endeavors, LTD (PINKSHEETS : GRNE ), www.green-endeavors.com, owns a majority interest in Landis
Lifestyle Salon, www.landissalons.com, a hair salon built around the
world-class AVEDA™ product line. For more information, visit
www.nexiaholdings.com.
Nexia strongly encourages the public to read the above information in
conjunction with its Form 10-K for December 31, 2007 and the subsequent
quarterly filings and disclosures in 2008 and 2009. Nexia's disclosures can
be viewed at www.nexiaholdings.com, www.sec.gov, and www.pinksheets.com.
Nexia ceased being a fully reporting company in April 2009.
The investments discussed above are highly speculative. The value of the
portfolio securities mentioned above are based upon the stated value as
described in their respective certificates of designation. There is a risk
that the securities acquired may have no value or a higher value upon
conversion into shares of common stock in each company that Nexia owns a
position.