NEXH News 3pm yesterday
Nexia Enters Into a Joint Venture With Black Chandelier
3:10 p.m. 03/22/2006 Provided By Market Wire
SALT LAKE CITY, UT, Mar 22, 2006 (MARKET WIRE via COMTEX) -- Nexia Holdings, Inc. (NEXH) has embarked on an endeavor to assist acclaimed apparel manufacturer Black Chandelier. Nexia's business development director Sean Pasinsky's first project is a joint venture between Nexia and clothing manufacturer/retailer Black Chandelier. "Black Chandelier is in the midst of an artistic, marketing, and PR explosion that I think Nexia can benefit from and capitalize on. I plan on making Black Chandelier a leading international player in the apparel industry."
The joint venture will result in the sharing of revenue from sales of Black Chandelier goods and services. Black Chandelier is projected to sell over $1,000,000 in product this year with a 140% increase next year and 110% the following year. The success of the Black Chandelier venture will determine the future relationship between the two entities. Richard Surber, Nexia's CEO, is hopeful that the relationship is fruitful for both companies, "If certain financial milestones are met by Black Chandelier and Nexia, it would not be out of the question to see an acquisition take place. After all, that is the reason we are doing this."
The hallmark of the spring revival of the company falls on March 22nd 2006 when Black Chandelier's clothing, as well as its Head Designer (Jared Gold), will be featured on the hit UPN television show, America's Next Top Model (8:00 p.m. ET/PT). After the show airs, Black Chandelier and Nexia understandably expect a sharp increase in sales orders from all over the world. Nexia has created additional capacity for ordering and production to match this increased demand.
To coincide with their new public relations campaign, Black Chandelier has also recently redesigned their corporate website and placed it onto a high capacity server environment. ( www.blackchandelier.com ) In order to handle the expected rise in product demand, Black Chandelier and Nexia are launching a new e-store (hosted and maintained by e-store mega-player ProStores). www.blackchandelier.biz Having a fully functional e-store will immediately enable Black Chandelier to sell their goods across the US and internationally, improving their market size and thus capitalizing on the tremendous worldwide success of the America's Next Top Model Show. Also, hoping to continue their proven record of direct retail sales, Black Chandelier will add another boutique to its cache of self-owned swanky retail shopping venues. An all new high-end Black Chandelier retail boutique will open June 1st 2006 in the trendy Gateway Mall of Salt Lake City, Utah.
Nexia strongly encourages the public to read the above information in conjunction with its Form 10-KSB for December 31, 2004 and for the subsequent quarters during 2005. Nexia's disclosures can be viewed at www.sec.gov . This press release is not a solicitation to buy or sell any securities.
This press release may contain forward-looking statements that are based on a number of assumptions, including the successful completion of the marketing plans and expansion of Nexia Holdings' operation in a short period of time. Although Nexia Holdings believes these assumptions are reasonable, no assurance can be given that they will prove correct. These forward-looking statements involve a number of risks and uncertainties, including an expectation of substantial increase in sales by Black Chandelier. The actual results that Nexia Holdings may achieve could differ materially from any forward-looking statements due to such risks and uncertainties.
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