MESA, AZ--(Marketwired - Jun 5, 2014) - NexGen Holdings, Corp. (PINKSHEETS: XGEN) announced today that its Cameo Pool subsidiary had reached a milestone by booking over $1,002,795 in contracts for the month of May which represents a nearly 100% increase over the same month in 2013 when the Company booked $502,537. Sales Bookings for the 5 months ended May 30th 2014 were $3,649,357 vs $3,166,086 for the same period last year which represents a nearly 16% year over year increase.
Sales bookings are contracts executed by customers for building or remodeling their swimming pools. These bookings do not yet represent revenues which are recorded by the Company on a percentage of completion basis as these pools are built or remodeled. Under Generally Accepted Account Principals ("GAAP") the company will recognize the revenue from these bookings along with others in the pipeline over the next few months as these pools are built or remodeled.
John Myers, CEO of both NexGen Holdings and NexGen Pools and Spas, stated, "This is an important milestone for our shareholders as it demonstrates the effectiveness of our business plan. We are installing these same systems and procedures that have made Cameo so successful at our newest acquisition, Paddock Pools and will be able to add Paddock's products such as outdoor furniture to Cameo's offerings to further increase Cameo's sales and margins."
Steven Vollaro, President of Cameo and the Director of Sales for NexGen Pools & Spas said, "I'm very proud of the accomplishments of our team in reaching this milestone. It demonstrates our ability to increase both sales and margins through our focus on building value for all our stakeholders; customers, employees, vendors and of course our shareholders."
Craig Maggi, President of Camelback Pools d/b/a Paddock Pools and Spas added, "We have already hired some new sales personnel at Paddock to sell pool using the systems developed at Cameo and we are already starting to see the results."
The Company announced that it had acquired Camelback Pools d/b/a Paddock Pools and Spas on May 14, 2014 and so did not post a full month's results under its management and so declined to report those bookings here at this time.
The Company also reported that it had terminated its investor relations agreement with Tom Nelson of Ten Associates and the Board is actively interviewing other qualified companies to represent the Company's prospects to the investing community.
About NexGen Holdings, Corp.
NexGen Holdings, Corp. is a public holding company that is an acquirer and operator of fundamentally sound subsidiaries that are market accepted, scalable and demonstrate a quantifiable value proposition. To enhance shareholder value our focus is on establishing a foot print in a specific industry through the acquisition of a subsidiary thats has strong market presence, brand awareness, talented and dedicated management teams with the potential to achieve exceptional performance over time. Once acquired these companies can expand through additional acquisitions, aggressive marketing and access to our operational support, management approach, and ability to access financial markets for operational and growth capital to build a market leader. NexGen Holdings,Corp. has currently has two subsidiaries: WindPower Solutions Inc.. which repairs and remanufactures wind power turbines and solar power plants for operators across the U.S., and NexGen Pools and Spas, Inc which operates Cameo Pools & Paddock Pools ., that builds and renovates swimming pools and markets outdoor products to consumers in the Phoenix, Arizona Metropolitan Area. -- For more information go to our websites at: www.wpienergy.com, www.cameopools.com
About NexGen Pools and Spas, Inc.
NexGen Pools and Spas, Inc. is the subsidiary of NexGen Holdings, Corp. that focuses on acquiring, and managing growth companies selling outdoor products that deliver the 5 (five) essential elements for a successful "backyard" experience"; Water, Fire, Food, Furniture & Music. For more information, go to our website at; www.nexgenpools.com
About Paddock Pools.
Paddock Pools, has been a recognizable brand in the Arizona swimming pool market for over 55 years. Paddock has built pools for many of the large resorts including the popular area water parks and tens of thousands of pools in homes since the brand was founded in 1958. The Company offers a full product line including Backyard furniture, spas, fire-pits and new and remodeled swimming pools. Customers can also purchase their pool supplies at the store or online. Paddock also offers swimming pool maintenance and repair services. For more information visit our website at www.paddockpoolsandspas.com
About Cameo Pools
Cameo Pools is, a NexGen company, that focuses on delivering to consumers the 5 (five) essential elements for a successful "backyard" experience; Water, Fire, Food, Furniture & Music as it has for over 37 year old, with such well known-quality brand names as Cameo Pools, Cameo Landscaping, & Cameo Solar. As the oldest swimming pool builder in Mesa, Arizona Cameo has been committed to excellence for so long that we are able to offer a valuable lifetime warranty on the hand-crafted products we create for our customers. Cameo repairs, maintains designs and installs swimming pools, water features, spas, outdoor furniture and landscaping and solar options. For more information, go to our website at: www.cameopools.com
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including those regarding NexGen Holdings, Inc. expectations, intentions, strategies and beliefs pertaining to future events or future financial performance. All statements contained herein are based upon current information available to NexGen Holdings, Inc.'s management as of this date. The business and operations of the Company are subject to substantial risks which increase the uncertainty that forward-looking results will be achieved and actual events or results may vary materially as a result of various important factors including those which management has little or no control. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.
Investor Relations Information:
Contact:
Carole Myers
Corporate Secretary
Phone Number: 480-969-4034
