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Nexia to effect A 1-For-100 everse stock split
30 Nov '07
3 min read
I want shareholders to know that Nexia does have a future and I will persist until success is obtained. Significant value can be recognized as Nexia moves forward. However, liquidity is key to realizing Nexia's potential value.
"OTCBB companies in general are in a very precarious situation. On the one hand, we are straddled with nearly all of the regulatory requirements of a listed company including Sarbanes Oxley, but receive very few benefits of listed companies when it comes to being able to raise capital.
However, the SEC has taken a step in the right direction for companies like Nexia. Recent rule changes to Rule 144 may provide the opportunity Nexia needs to satisfy a large percentage of it liabilities with equity.
Satisfying certain creditors by converting their debt to equity, coupled with getting Nexia's SB-2 effective, is key to Nexia's success and continued growth.
The recapitalization planned will allow Nexia to continue to pay its employees and allow it to raise capital to fulfill its plans for the future with a superior capital structure," concluded Surber.
"OTCBB companies in general are in a very precarious situation. On the one hand, we are straddled with nearly all of the regulatory requirements of a listed company including Sarbanes Oxley, but receive very few benefits of listed companies when it comes to being able to raise capital.
However, the SEC has taken a step in the right direction for companies like Nexia. Recent rule changes to Rule 144 may provide the opportunity Nexia needs to satisfy a large percentage of it liabilities with equity.
Satisfying certain creditors by converting their debt to equity, coupled with getting Nexia's SB-2 effective, is key to Nexia's success and continued growth.
The recapitalization planned will allow Nexia to continue to pay its employees and allow it to raise capital to fulfill its plans for the future with a superior capital structure," concluded Surber.
Nexia Holdings Inc
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