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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.
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To: Jim Bishop who started this subject2/6/2002 1:10:38 PM
From: marley33  Read Replies (1) of 150070
 
Huge KLYS news out:

SALT LAKE CITY--(BUSINESS WIRE)--Feb. 6, 2002--Kelly's Coffee Group, Inc.(OTCBB:KLYS) today announced that it has identified a prime reverse merger candidate.

The target company's valuation exceeds the net worth qualifications required by NASDAQ for quotation as a Small Cap issuer. Kelly's expects that a binding letter agreement or definitive share exchange agreement will be signed no later than February 15, 2002, and a Form 8K filed within 15 days of closing the merger.

Kelly's intends to change its name to Nexia Holdings, Inc. to better reflect the broad based business opportunities presented by the target company. Kelly's has already filed a Preliminary Schedule 14C with the Securities and Exchange Commission setting forth the disclosures required for a name change.

The reverse merger is contingent upon both the target candidate's auditors rendering an instructional memorandum to provide an analysis as to the ability of the target candidate to preserve certain tax loss carry forwards, and the completion of due diligence.

Mr. Richard Surber, Kelly's President and CEO, believes that "the completion of this `reverse merger' will be the first in a series of transactions designed to enhance shareholder value."

Kelly's is currently a shell company with no operations and no significant assets. Investors are strongly encouraged not to invest any monies which they cannot afford to lose. Additionally, Kelly's strongly encourages the public to read the above information in conjunction with its Form 10KSB for December 31, 2000, and 10QSB for September 31, 2001. In addition, investor should be cognizant of the fact that no substantive disclosure on the target will be made until the Form 8K is filed. Kelly's prior disclosures can be viewed at www.sec.gov.
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