UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d)
of
the
SECURITIES
EXCHANGE ACT OF 1934
Date
of Event: February 9, 2006
NEXIA
HOLDINGS, INC.
(Exact
name of registrant as specified in its charter)
NEVADA
(State
or
other jurisdiction of incorporation or organization)
|
33-2128-D
(Commission
File Number)
|
84-1062062
(IRS
Employer Identification Number)
|
c/o
Richard Surber, President
59
West 100 South, Second Floor, Salt Lake City, Utah
84101
(Address
of principal executive offices)
(801)
575-8073
(Registrant's
telephone number, including area code)
ITEM
8.01 Other
Events
On
February 9, 2006, Salt Lake Development Inc. a subsidiary of Nexia Holdings,
Inc. (Nexia) entered into a Commercial Real Estate Purchase Contract (Agreement)
with Residential Acceptance Network Corp. (hereafter the “Purchaser”) for the
sale of an office building located at 268 West 400 South, Salt Lake City, Utah
in exchange for a purchase price of $850,000 (Eight Hundred Fifty Thousand
Dollars). Current loans on the building as of December 15, 2005 were in the
amount of $547,012. The contract provides for a due diligence deadline of April
3, 2006 and a settlement deadline of April 27, 2006.
The
parties have agreed to finance the acquisition through a $100,000 cash payment
to Salt Lake Development, new conventional financing in the sum of $550,000
and
Salt Lake Development will carry a promissory note in the sum of $200,000,
bearing interest at the rate of 8% per annum that will be due one year from
the
date of closing. The stated amounts are estimates and will be adjusted to
reflect the pay-off balance due on the existing loan on the building.
ITEM
9.01 FINANCIAL
STATEMENTS AND EXHIBITS
Pro
forma
financial statements, if required, will be filed by amendment within the time
allowed by rule.
|
EXHIBIT
NO.
|
PAGE
NO.
|
DESCRIPTION
|
Pursuant
to the requirement of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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| Nexia Holdings, Inc. | ||
| |
|
|
| Date: February 15, 2006 | By: | /s/ Richard Surber |
|
Richard Surber CEO,
CFO, President and Director
|
||
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