Nexia Holdings Inc (OTCMKTS:NXHD), which operates its production of the film business through subsidiary Redline Entertainment Inc and WG Productions Company released an update on two films. These films are ‘Jackie & Ryan’ and ‘Under the Bed’. As per the press release, the company has concluded the producer support services for the two films, which included line production, support staff, accounting, office space and other time.
Completion Of Production Support Services
The company has completed the film on time and within the budget during primary production. Following the completion, both the films are up for negotiation for distribution in several markets. On the conclusion of production project, CEO of Nexia Holdings Inc (OTCMKTS:NXHD), Richard Surber, expressed his content with the work of the team.
He said that the team strives to augment its skill set and get a firm foothold in the industry. With that, Surber looks forward to a productive new year, particularly when the company has already secured multiple prospective projects. He hinted that the production of the very first film in 2015 could start as early as March, 2015.
2014 Results And Future
Nexia Holdings Inc (OTCMKTS:NXHD), being functioning in three key industries expect record results in its entertainment and health & beauty space in 2015. Surber anticipates that the company may touch $10 million excess in gross revenue in 2015, based on the record-breaking projects under the belt. Most recently, the company reported its third quarter and nine months financial results as on September 30, 2014. The revenues posted were $1,105,068 and $3,428,588 for its third quarter and nine months period respectively.
That shows that there was a decline of $54,641 or 4.7% revenues over the third quarter, but an increase of $24,492 or 0.72% during the nine-month period as compared against the previous year. Surber explained that the third quarter results depicted the company’s substantial investment across the globe and that the record-breaking results should be visible in 2015.
The very low liquidity has turned the Nexia Holdings Inc (OTCMKTS:NXHD) into one of the most volatile stocks with a huge range, especially when the chart is seen from a log scale. The period of 2012-13 was spent in the range of $0.003-$0.01 but nearly all of 2014 saw the stock consolidating in a much higher band of $0.0050-$0.020. Only a breakout from this higher range will set a proper direction for the stock, though faint signs of accumulation are visible from the volume pattern.