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Nexia addresses reverse split option
16 Nov '07
2 min read
Nexia Holdings Inc issued the following statement from CEO Richard Surber regarding questions from shareholders whether a reverse stock split is in the works.
"The only reason I would consider a reverse stock split is if an investor required a split in order to invest a significant sum of cash into Nexia or if Nexia is unable to trade.
If either situation were to occur, Nexia would immediately disclose its intent to affect a split. Warren Buffet refuses to affect a forward split on Berkshire Hathaway without some fundamental reason for doing so.
Nexia is at the opposite end of the spectrum for the moment. However, the sentiment is the same. A reverse split at this stage of Nexia's development will do little to improve its value.
"I will again point out that the market capitalization of Nexia's common stock is currently at $1.2 Million based upon a share price of $.0001.
By December 1, 2007, I anticipate the retail value of our clothing inventory alone to exceed our current market capitalization. I have confidence in my team and the direction of Nexia.
We are making great strides and I anticipate that these efforts will be reflected in the market value of Nexia.
"As always your comments and continued support are appreciated," concluded Surber.
"The only reason I would consider a reverse stock split is if an investor required a split in order to invest a significant sum of cash into Nexia or if Nexia is unable to trade.
If either situation were to occur, Nexia would immediately disclose its intent to affect a split. Warren Buffet refuses to affect a forward split on Berkshire Hathaway without some fundamental reason for doing so.
Nexia is at the opposite end of the spectrum for the moment. However, the sentiment is the same. A reverse split at this stage of Nexia's development will do little to improve its value.
"I will again point out that the market capitalization of Nexia's common stock is currently at $1.2 Million based upon a share price of $.0001.
By December 1, 2007, I anticipate the retail value of our clothing inventory alone to exceed our current market capitalization. I have confidence in my team and the direction of Nexia.
We are making great strides and I anticipate that these efforts will be reflected in the market value of Nexia.
"As always your comments and continued support are appreciated," concluded Surber.
Nexia Holdings Inc
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