Nexia Submits Legal Opinion to DTCC for Removal of Chill
October 04 2013 - 11:57AM
Marketwired
Nexia Submits Legal Opinion to DTCC for Removal of Chill
SALT LAKE CITY, UT--(Marketwired - Oct 4, 2013) - Nexia
Holdings, Inc. (PINKSHEETS: NXHD), the parent company of Green
Endeavors, Inc. (OTCQB: GRNE), announced today that its outside
counsel Clyde Snow & Sessions submitted a legal opinion which
is designed to clear the DTCC chill.
Richard Surber, CEO of Nexia, commented, "I expect the DTCC
chill to be removed based upon the excellent work of our outside
counsel and the fact that it is my belief Nexia was always in full
compliance. We went through this process successfully with
GRNE and I expect the same result with Nexia."
Mr. Surber continued, "Now that our majority owned subsidiary
GRNE is current with its SEC filings, we will turn our efforts to
getting Nexia back to current status with OTC Markets and
eventually bringing Nexia back to fully reporting status with
SEC. Film revenues and deposits, real estate rental revenues
coupled with GRNE's revenues are estimated to exceed $5M for fiscal
year 2013. I am continuing my efforts to clean up the share
structure as well, which includes retiring a substantial portion of
the Series C stock. All rogue sellers in Nexia have been
eliminated and no new shares will be allowed to enter the market
until we are current with our financial reporting."
About Nexia Holdings, Inc.
Nexia Holdings, Inc. (PINKSHEETS: 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. (OTCQB: GRNE),
www.green-endeavors.com, which operates Landis Salons, Inc., Landis
Salons II, Inc. and the Aveda™ Experience Center at City Creek,
www.landissalon.com, hair and skin care built around the
world-class AVEDA™ product line. Nexia through Redline
Entertainment, Inc. has acquired the rights to several independent
films. Learn more at www.nexiaholdings.com.
Nexia strongly encourages the public to read the above
information in conjunction with its reports filed at
www.pinksheets.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.