NXHD - Prime Example of Why You Don't Listen To A CEO and Instead Listen to The Guru

First off you can revisit our post on NXHD a few months back. This was when NXHD appeared to be gaining traction and volume was soaring. We smelled this scam from a mile away. Currently NXHD is a no bid stock, just as we had called it at the peak of its run. Anyone unlucky enough to have been suckered into buying this stock has no one willing to buy it from them.

http://pennystockgurus.blogspot.com/2009/06/nxhd-its-on-per-company-ceos-press.html

Just look at all the headlines for NXHD this past year:

Record revenue, set to acquire, eyes additional locations, and so on and so forth.

The current price and lack of a bid speak volumes about this stock and its CEO.

A little over two months ago NXHD's CEO was concerned and decided to release a pr to assuage NXHD "investors". It is a great read considering this stock is dead in the water now. I have bolded the more egregious comments (there was no need to reverse split when you could instead dump billions of shares into the market):

Nexia's CEO Addresses #1 Shareholder Concern

SALT LAKE CITY, UT, Jun 25, 2009 (MARKETWIRE via COMTEX) -- Richard Surber, CEO of Nexia Holdings, Inc. (PINKSHEETS: NXHD), has received numerous inquiries concerning his position on a potential recapitalization of Nexia's common stock.

The concern is whether Nexia has any present plans to affect a reverse stock split because of the low stock price and the number of shares issued and outstanding. The answer to these concerns is that there is NO present intent to affect a reverse stock split.

Mr. Surber stated, "There simply is no need or any good reason to do a reverse stock based upon the current liquidity in Nexia's common stock. Nexia has had record trading volume over the last few weeks."

Mr. Surber went on to say, "I think it is important to remind shareholders that the current market capitalization of Nexia's common shares, based upon a price of $.0002, is only about $2.2M, which is tiny relative to many publicly traded companies. It is also important to add that according to Pink Sheets Nexia has traded over Eight Billion Eight Hundred Million shares (8,800,000,000) since June 10, 2009, which is essentially the entire public float."

Mr. Surber concluded, "I do not make predictions on price movement in the stock, but it is interesting to note that Nexia has gone from no bid to as high as $.0003 during the month of June. I am sure that many traders who purchased shares at $.0001 and sold for $.0002 or $.0003 are very happy with their 100% to 200% gains. However, selling at those levels seems to have created a lot of resistance at $.0002 level. I am hopeful that shareholder confidence in Nexia can be boosted if the liquidity in the commons stock continues to remain strong."

About Nexia Holdings, Inc.: