Lexor Holdings Resumes Trading on the Over the Counter Bulletin Board
Thursday , March 03, 2005 14:37 ET
HUNTINGTON BEACH, Calif., March 3, 2005 /PRNewswire-FirstCall via COMTEX/ --Lexor Holdings (OTC Bulletin Board: LXRH), a minority owned subsidiary of Providential Holdings, Inc. (OTC Bulletin Board: PRVH), a provider of international advisory services specializing in mergers and acquisitions, announced today that Lexor Holdings has been approved by the National Association of Securities Dealers (NASD) to resume trading to the Over the Counter Bulletin Board under the ticker symbol LXRH after reporting its last quarter earnings.
In the most recent quarter, Lexor reported a 70% increase in net sales over the same period last year. Providential owns 11.7% of Lexor stock since October 2003, primarily as compensation for providing merger and acquisition consulting services.
Henry Fahman, chief executive officer of Providential Holdings, stated, " Trading on the Over the Counter Bulletin Board represents a positive valuation for both Lexor Holdings and Providential Holdings. Our goal is to grow and develop our subsidiaries. We're excited to witness Lexor resume its trading on the Over the Counter Bulletin Board, which should allow the subsidiary to increase its market exposure as it repositions to accelerate its path of growth."
About Providential Holdings, Inc.
Providential Holdings (www.phiglobal.com) and its subsidiaries engage in a number of diverse business activities, the most important of which are M&A advisory services, precision cutting tools, and international markets. The Company acquires and consolidates special opportunities in selective high- growth industries to create additional value, acts as an incubator for emerging companies and technologies, and provides financial consultancy and M&A advisory services to U.S. and foreign companies.
This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the " safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.
For more information, contact:
OTC Financial Network Providential Holdings, Inc.
Rick McCaffrey, Investor Relations Henry Fahman
781-444-6100 x625 714-843-5450 x 5455
rick@otcfn.com info@phiglobal.com
www.otcfn.com/prvh www.phiglobal.com
SOURCE Providential Holdings, Inc.
Rick McCaffrey, Investor Relations of OTC Financial Network, +1- 781-444-6100 ext.
625, rick@otcfn.com; or Henry Fahman of Providential Holdings, Inc., +1-714-843-5450
ext. 5455, info@phiglobal.com