FORT LAUDERDALE, Fla., June 11, 2012 /PRNewswire/ -- Next 1 Interactive, Inc. (Nasdaq: NXOID) is pleased to announce Webdigs, Inc. ("Webdigs") has completed the necessary audit, filings and structuring necessary to allow it to again become a fully reporting public company, meeting all SEC requirements as well as all requirements of OTCQB status.
With the recently filings by Webdigs on June 5th, the path has been cleared for Next 1 to proceed with its previously announced plan to shift all real estate related assets from Next 1 Realty to Webdigs in exchange for a newly issued Convertible Preferred shares that initially gives the company a controlling interest in Webdigs. Webdigs was founded in 2007 and has developed and acquired real estate websites & technology including a licensed real estate brokerage division with more than 30 years of experience and affiliations in 19 states.
When the transaction is completed the new publicly traded vehicle will be a singularly focused real estate Media and Marketing Company. It will control all operating real estate agreements of Next 1 Realty, the real estate related Video on Demand (VOD) Network and corresponding websites, the Home Preview Channel assets, Next 1's minority share ownership of RealBiz Media, and certain film and distribution rights related to real estate programming for TV broadcasting.
Bill Kerby, CEO of Next 1 Interactive stated "recent moves to attract key new Directors, strengthen management and create strong industry alliances in both the travel and real-estate arenas have greatly enhanced the company's position. I believe this strategic move to separate Travel and Real Estate assets into two public companies will help with key expansion plans for both and better position Next One shareholders to participate from growth from both areas."
About Next 1 Interactive Inc.
Next 1 Interactive, Inc. (NXOI) is a multi faceted media company specializing in Travel and Real Estate. Next 1 plans the delivery of targeted content via multiple digital platforms including Satellite, Cable, Broadcast, Broadband and Mobile. In today's digital market Next 1 delivers information and entertainment to consumers. The company business plan calls for multiple revenue streams from real estate and travel content delivery including transactional commissions, referral fees, advertising and sponsorship. The multiple revenue streams and integrated media platforms allow for the delivery of measurable return on investment to its advertisers, sponsors and business partners.
Safe Harbor Statement
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plan, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
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