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    <div style="TEXT-ALIGN: center"><a name="QuickMark"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">SECURITIES
AND EXCHANGE COMMISSION </font></a></div>
    <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Washington,
D.C. 20549 </font></div>
    <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font>

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    <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">FORM S-8
</font></div>
    <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">REGISTRATION
STATEMENT </font></div>
    <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">UNDER
</font></div>
    <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">THE
SECURITIES ACT OF 1933</font></div>
    <div style="TEXT-ALIGN: center">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
        <hr style="COLOR: black" align="center" noshade size="2" width="16%">
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">NEXIA HOLDINGS,
INC.&#160;</font></font><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">(Exact
name of registrant as specified in its charter)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Nevada</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">84-1062062</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">(State or
other jurisdiction
of&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(I.R.S.
Employer Identification No.)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;incorporation
or organization)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><br>&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">59 West 100 South, Second
Floor, Salt Lake City, Utah 84101</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&#160;(Address
of principal executive offices)</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">The Amended 2008 Benefit
Plan of Nexia Holdings, Inc.</font></font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">(Full
title of the plan)</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Richard D. Surber, 59 West
100 South, Second Floor, Salt Lake City, Utah 84101</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">(Name,
address, including zip code, of agent for service)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Telephone
number for Issuer:<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;(801)
575-8073</font></font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">CALCULATION
OF REGISTRATION FEE</font></div>
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                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">Title
      of Securities to be Registered</font></div>
              </td>
              <td align="left" valign="top" width="12%" style="BORDER-TOP: #000000 2.55pt double; BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">Amounts
      to be Registered</font></div>
              </td>
              <td align="left" valign="top" width="17%" style="BORDER-TOP: #000000 2.55pt double; BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">Proposed
      Maximum Offering Price Per Share(1)</font></div>
              </td>
              <td align="left" valign="top" width="18%" style="BORDER-TOP: #000000 2.55pt double; BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">Proposed
      Maximum Aggregate Offering Price</font></div>
              </td>
              <td align="left" valign="top" width="12%" style="BORDER-TOP: #000000 2.55pt double; BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">Amount
      of Registration Fee</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="22%" style="BORDER-BOTTOM: black 4px double">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">Common
      Stock, 0.0001 par value</font></div>
              </td>
              <td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 4px double">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">100,000,000</font></div>
              </td>
              <td valign="top" width="17%" style="BORDER-BOTTOM: black 4px double">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">$0.03</font></div>
              </td>
              <td align="left" valign="top" width="18%" style="BORDER-BOTTOM: black 4px double">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;$3,000,000</font></div>
              </td>
              <td align="left" valign="top" width="12%" style="BORDER-BOTTOM: black 4px double">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">$1,179</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
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              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">(1)</font></div>
              </td>
              <td>
                <div style="TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Bona
      fide estimate of maximum offering price solely for calculating the
      registration fee pursuant to Rule 457(h) of the Securities Act of 1933,
      based on the average bid and asked price of the registrant<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">=</font>s
      common stock as of August&#160;&#160;18, 2008, a date within five business
      days prior to the date of filing of this registration
      statement.</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">In
addition, pursuant to Rule 416(c) under the Securities Act of 1933, this
Registration Statement also covers an indeterminate amount of interests to be
offered or sold pursuant to the Plan described herein.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">1</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: lightgrey" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Registration
Statement Pursuant to General Instruction E to form S-8</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">2008
Benefit Plan of Nexia Holdings, Inc.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>This Registration Statement is being
filed pursuant to General Instruction E to Form S-8, to reflect that the Board
of Directors of Nexia Holdings, Inc. (the<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman"> "</font>Company") has
amended The 2008 Benefit Plan of Nexia Holdings, Inc. as originally filed by the
Company in a Form S-8 filed on October 12, 2007, SEC file no. 333-146693, as
amended on February 11, 2008, SEC file no 333-149145 and as amended on March 13,
2008, SEC file no. 333-149145, all of which are incorporated herein by
reference.&#160;&#160;This Registration statement will increase the number of
reverse stock split shares to be included in the amended plan by One Hundred
Million (100,000,000) shares of the common stock of the
Company.&#160;&#160;</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">The
100,000,000 shares registered hereunder increases the total number of shares
registered under The 2008 Benefit Plan of Nexia Holdings, Inc. as amended to
101,350,000, reflecting the 1 for 1,000 reverse stock split that became fully
effective as of July 29, 2008.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">The
amendment to the 2008 Benefit Plan of Nexia Holdings, Inc. is filed as
Exhibit<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman"> "</font>A"
hereto.&#160;&#160;The additional One Hundred Million (100,000,000) shares are
being registered hereby.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">The total
number of shares registered under the 2008 Benefit Plan of Nexia Holdings, Inc.
as amended will be 101,350,000.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">The
following documents, all of which were previously filed by the Registrant with
the Securities and Exchange Commission pursuant to the Securities Exchange Act
of 1934, as amended, are hereby incorporated by reference:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">
        <table cellpadding="0" cellspacing="0" id="list" width="100%">
            <tr valign="top">
              <td align="right" style="WIDTH: 54pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">(a)&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">The
      Registrant&#8217;s Annual Report on Form 10-K for the year ended December 31,
      2007, filed with the Commission on May 16,
2008.</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">
        <table cellpadding="0" cellspacing="0" id="list" width="100%">
            <tr valign="top">
              <td align="right" style="WIDTH: 54pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">(b)&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">The
      Registrant&#8217;s Quarterly Report on Form 10-Q/A for its fiscal quarter ended
      March 31, 2008, filed with the Commission on August 22,
    2008.</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;&#160; (c)&#160; The
Registrant's Quartely Report on Form 10-Q&#160;for its financial quarter ended
June 30, 2008, filed with&#160;the Commision on August 19, 2008.</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">ITEM
8-Exhibits</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div>
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              <td valign="top" width="10%" style="BORDER-TOP: #ffffff 0.75pt solid; BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Exhibits</font></font></div>
              </td>
              <td valign="top" width="14%" style="BORDER-TOP: #ffffff 0.75pt solid; BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">SEC Ref. No.</font></font></div>
              </td>
              <td valign="top" width="36%" style="BORDER-TOP: #ffffff 0.75pt solid; BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Description of Exhibit</font></font></div>
              </td>
              <td valign="top" width="16%" style="BORDER-TOP: #ffffff 0.75pt solid; BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">Page</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="10%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">A</font></div>
              </td>
              <td valign="top" width="14%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">4</font></div>
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              <td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">Third
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              </td>
              <td valign="top" width="16%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">6</font></div>
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            <tr>
              <td valign="top" width="10%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">B</font></div>
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                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">5,
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              <td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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      and consent of Counsel with respect to the legality of the issuance of
      securities being issued</font></div>
              </td>
              <td valign="top" width="16%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">10</font></div>
              </td>
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      <div>
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            <tr>
              <td valign="top" width="10%" style="BORDER-TOP: #ffffff 0.75pt solid; BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">C</font></div>
              </td>
              <td valign="top" width="14%" style="BORDER-TOP: #ffffff 0.75pt solid; BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">23(a)</font></div>
              </td>
              <td align="left" valign="top" width="36%" style="BORDER-TOP: #ffffff 0.75pt solid; BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">Consents
      of Independent Registered Accounting Firm</font></div>
              </td>
              <td valign="top" width="16%" style="BORDER-TOP: #ffffff 0.75pt solid; BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">13</font></div>
              </td>
            </tr>
        </table>
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      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          </div>
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        <div id="PN" style="PAGE-BREAK-AFTER: always">
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            <hr style="COLOR: lightgrey" noshade size="2">
          </div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Pursuant
to the requirements of the Securities Act, the registrant certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing
on Form S-8 and has duly caused this Registration Statement to be signed on its
behalf by the undersigned, thereunto duly authorized, on August 19,
2008.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 216pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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Holdings, Inc.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 216pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">By:<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;/s/
Richard
Surber&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;.</font></font></div>
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D. Surber, as President</font></div>
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      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
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to the requirements of the Securities Act of 1933, this Registration Statement
has been signed by the following persons in the capacities and on the date
indicated.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">&#160;</div>
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      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 479px">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: none"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
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              <td style="WIDTH: 241px">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Title</font></font></div>
              </td>
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                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Date</font></font></div>
              </td>
            </tr>
        </table>
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      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 180pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 180pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;/s/ Richard
      Surber</font></font></div>
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              <td style="WIDTH: 180pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Director</font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">August
      19, 2008</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Richard
D. Surber</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 180pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 180pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;/s/ Gerald
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              </td>
              <td style="WIDTH: 180pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Director</font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">August
      19, 2008</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Gerald
Einhorn</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 239px">
                <div><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 241px">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;/s/ Adrienne
      Bernstein</font></font></div>
              </td>
              <td style="WIDTH: 240px">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Director</font></div>
              </td>
              <td width="261">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">August
      19, 2008</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Adrienne
Bernstein</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">3</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: lightgrey" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">SECURITIES
AND EXCHANGE COMMISSION</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Washington,
D.C.&#160;&#160;20549</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">EXHIBITS
</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">TO</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">FORM
S-8</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">REGISTRATION
STATEMENT</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">UNDER</font></div>
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      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">THE
SECURITIES ACT OF 1933</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Nexia
Holdings, Inc.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">(a Nevada
corporation)</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">INDEX TO
EXHIBITS</font></font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">
            <tr>
              <td valign="top" width="10%" style="BORDER-TOP: #ffffff 0.75pt solid; BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Exhibits</font></font></div>
              </td>
              <td valign="top" width="14%" style="BORDER-TOP: #ffffff 0.75pt solid; BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">SEC Ref. No.</font></font></div>
              </td>
              <td valign="top" width="36%" style="BORDER-TOP: #ffffff 0.75pt solid; BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Description of Exhibit</font></font></div>
              </td>
              <td valign="top" width="16%" style="BORDER-TOP: #ffffff 0.75pt solid; BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">Page</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="10%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">A</font></div>
              </td>
              <td valign="top" width="14%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">4</font></div>
              </td>
              <td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">Third
      Amendment to 2008 Stock Benefit Plan of the Company</font></div>
              </td>
              <td valign="top" width="16%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">5</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="10%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">B</font></div>
              </td>
              <td valign="top" width="14%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">5,
      23(b)</font></div>
              </td>
              <td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">Opinion
      and consent of Counsel with respect to the legality of the issuance of
      securities being issued</font></div>
              </td>
              <td valign="top" width="16%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">9</font></div>
              </td>
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      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
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            <tr>
              <td valign="top" width="10%" style="BORDER-TOP: #ffffff 0.75pt solid; BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">C</font></div>
              </td>
              <td valign="top" width="14%" style="BORDER-TOP: #ffffff 0.75pt solid; BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">23(a)</font></div>
              </td>
              <td align="left" valign="top" width="36%" style="BORDER-TOP: #ffffff 0.75pt solid; BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">Consents
      of Independent Registered Accounting Firm</font></div>
              </td>
              <td valign="top" width="16%" style="BORDER-TOP: #ffffff 0.75pt solid; BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">12</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
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          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">4</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: times new roman">THE THIRD
AMENDMENT TO THE</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: times new roman">&#160;2008
BENEFIT PLAN</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: times new roman">OF</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: times new roman">NEXIA
HOLDINGS, INC.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">THE THIRD
AMENDMENT TO THE 2008 BENEFIT PLAN OF NEXIA HOLDINGS, INC.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Nexia
Holdings, Inc., a Nevada corporation (the <font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">A</font>Company<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">@</font>),
hereby adopts The Third Amendment to the 2008 Benefit Plan of Nexia Holdings,
Inc. (the <font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">A</font>Plan<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">@</font>)
this 11<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: super">th</font> day of
August, 2008.&#160;&#160;Under the Plan, the Company may issue stock, or grant
options to acquire the Company's common stock, par value $0.0001 (the <font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">A</font>Stock<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">@</font>),
from time to time to employees of the Company or its subsidiaries, all on the
terms and conditions set forth herein (<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">A</font>Benefits<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">@</font>).&#160;&#160;In
addition, at the discretion of the Board of Directors, Benefits may from time to
time be granted under this Plan to other individuals, including consultants or
advisors, who contribute to the success of the Company or its subsidiaries, but
are not employees of the Company or its subsidiaries, provided that bona fide
services shall be rendered by consultants and advisors and such services must
not be in connection with the offer or sale of securities in a capital-raising
transaction. No stock may be issued, or option granted under the benefit plan to
consultants, advisors, or other persons who directly or indirectly promote or
maintain a market for the Company<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">=</font>s
securities. </font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">1.<font style="DISPLAY: inline; TEXT-DECORATION: underline">Purpose of the Plan</font>.
The Plan is intended to aid the Company in maintaining and developing a
management team, attracting qualified officers and employees capable of assuring
the future success of the Company, and rewarding those individuals who have
contributed to the success of the Company.&#160;&#160;The Company has designed
this Plan to aid it in retaining the services of executives and employees and in
attracting new personnel when needed for future operations and growth and to
provide such personnel with an incentive to remain employees of the Company, to
use their best efforts to promote the success of the Company's business, and to
provide them with an opportunity to obtain or increase a proprietary interest in
the Company.&#160;&#160;It is also designed to permit the Company to reward
those individuals who are not employees of the Company, but who management
perceives to have contributed to the success of the Company or who are important
to the continued business and operations of the Company.&#160;&#160;The above
goals will be achieved through the granting of Benefits.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">2.<font style="DISPLAY: inline; TEXT-DECORATION: underline">Administration of this
Plan</font>.&#160;&#160;Administration of this Plan shall be determined by the
Company's Board of Directors (the <font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">A</font>Board<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">@</font>).&#160;&#160;Subject
to compliance with applicable provisions of the governing law, the Board may
delegate administration of this Plan or specific administrative duties with
respect to this Plan on such terms and to such committees of the Board as it
deems proper (hereinafter the Board or its authorized committee shall be
referred to as <font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">A</font>Plan
Administrators<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">@</font>).&#160;&#160;The
interpretation and construction of the terms of this Plan by the Plan
Administrators thereof shall be final and binding on all participants in this
Plan absent a showing of demonstrable error.&#160;&#160;No member of the Plan
Administrators shall be liable for any action taken or determination made in
good faith with respect to this Plan.&#160;&#160;Any Benefit approved by a
majority vote of those Plan Administrators attending a duly and properly held
meeting shall be valid.&#160;&#160;Any Benefit approved by the Plan
Administrators shall be approved as specified by the Board at the time of
delegation.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">3.<font style="DISPLAY: inline; TEXT-DECORATION: underline">Shares of Stock Subject to
this Plan</font>.&#160;&#160;&#160;A total of One Hundred One Million Three
Hundred Fifty Thousand (101,350,000) shares of post reverse Stock may be subject
to, or issued pursuant to, Benefits granted under this Plan.&#160;&#160;If any
right to acquire Stock granted under this Plan is exercised by the delivery of
shares of Stock or the relinquishment of rights to shares of Stock, only the net
shares of Stock issued (the shares of stock issued less the shares of Stock
surrendered) shall count against the total number of shares reserved for
issuance under the terms of this Plan.&#160;&#160;All shares subject to this
Amendment and plan are subsequent to the 1 for 1,000 reverse stock split carried
out by the Company and made fully effective as of July 29, 2008 and thus are
post-reverse shares.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">4.<font style="DISPLAY: inline; TEXT-DECORATION: underline">Reservation of Stock on
Granting of Option</font>.&#160;&#160;At the time any Option is granted under
the terms of this Plan, the Company will reserve for issuance the number of
shares of Stock subject to such Option until it is exercised or
expires.&#160;&#160;The Company may reserve either authorized, but unissued
shares or issued shares reacquired by the Company.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">5.<font style="DISPLAY: inline; TEXT-DECORATION: underline">Eligibility</font>.&#160;&#160;The
Plan Administrators may grant Benefits to employees, officers, and directors of
the Company and its subsidiaries, as may be existing from time to time, and to
other individuals who are not employees of the Company or its subsidiaries,
including consultants and advisors, provided that such consultants and advisors
render bona fide services to the Company or its subsidiaries and such services
are not rendered in connection with the offer or sale of securities in a
capital-raising transaction.&#160;&#160;In any case, the Plan Administrators
shall determine, based on the foregoing limitations and the Company<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">=</font>s
best interests, which employees, officers, directors, consultants and advisors
are eligible to participate in this Plan.&#160;&#160;Benefits shall be in the
amounts, and shall have the rights and be subject to the restrictions, as may be
determined by the Plan Administrators, all as may be within the provisions of
this Plan.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">6.<font style="DISPLAY: inline; TEXT-DECORATION: underline">Term of Options issued as
Benefits and Certain Limitations on Right to Exercise.</font></font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">a.Each
Option issued as a benefit hereunder (<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">A</font>Option<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">@</font>)
shall have its term established by the Plan Administrators at the time the
Option is granted.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">b.The
term of the Option, once it is granted, may be reduced only as provided for in
this Plan and under the express written provisions of the Option.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">c.Unless
otherwise specifically provided by the written provisions of the Option or
required by applicable disclosure or other legal requirements promulgated by the
Securities and Exchange Commission (<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">A</font>SEC<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">@</font>),
no participant of this Plan or his or her legal representative, legatee, or
distributee will be, or shall be deemed to be, a holder of any shares subject to
an Option unless and until such participant exercises his or her right to
acquire all or a portion of the Stock subject to the Option and delivers the
required consideration to the Company in accordance with the terms of this Plan
and then only as to the number of shares of Stock acquired.&#160;&#160;Except as
specifically provided in this Plan or as otherwise specifically provided by the
written provisions of the Option, no adjustment to the exercise price or the
number of shares of Stock subject to the Option shall be made for dividends or
other rights for which the record date is prior to the date on which the Stock
subject to the Option is acquired by the holder.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">d.Options
shall vest and become exercisable at such time or times and on such terms as the
Plan Administrators may determine at the time of the grant of the
Option.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">e.Options
may contain such other provisions, including further lawful restrictions on the
vesting and exercise of the Options as the Plan Administrators may deem
advisable.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">f.In no
event may an Option be exercised after the expiration of its term.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">g.Options
shall be non-transferable, except by the laws of descent and
distribution.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">5</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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        </div>
        <div id="HDR">
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          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">7. <font style="DISPLAY: inline; TEXT-DECORATION: underline">Exercise
Price</font>.&#160;&#160;&#160;The Plan Administrators shall establish the
exercise price payable to the Company for shares to be obtained pursuant to
Options, which exercise price may be amended from time to time as the Plan
Administrators shall determine.&#160;&#160;</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">8. <font style="DISPLAY: inline; TEXT-DECORATION: underline">Payment of Exercise
Price</font>.&#160;&#160;The exercise of any Option shall be contingent on
receipt by the Company of the exercise price paid in either cash, certified or
personal check payable to the Company.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">9. <font style="DISPLAY: inline; TEXT-DECORATION: underline">Withholding</font>.&#160;&#160;If
the grant of a Benefit hereunder, or exercise of an Option given as a Benefit is
subject to withholding or other trust fund payment requirements of the Internal
Revenue Code of 1986, as amended (the <font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">A</font>Code<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">@</font>),
or applicable state or local laws, the Company will initially pay the
Optionee<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">=</font>s
liability and will be reimbursed by Optionee no later than six months after such
liability arises and Optionee hereby agrees to such reimbursement
terms.&#160;&#160;</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">10. <font style="DISPLAY: inline; TEXT-DECORATION: underline">Dilution or Other
Adjustment.</font>&#160;&#160;The shares of Common Stock subject to this Plan
and the exercise price of outstanding Options are subject to proportionate
adjustment in the event of a stock dividend on the Common Stock or a change in
the number of issued and outstanding shares of Common Stock as a result of a
stock split, consolidation, or other recapitalization.&#160;&#160;The Company,
at its option, may adjust the Options, issue replacements, or declare Options
void.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">11. <font style="DISPLAY: inline; TEXT-DECORATION: underline">Benefits to Foreign
Nationals</font>.&#160;&#160;&#160;The Plan Administrators may, in order to
fulfill the purpose of this Plan and without amending this Plan, grant Benefits
to foreign nationals or individuals residing in foreign countries that contain
provisions, restrictions, and limitations different from those set forth in this
Plan and the Benefits made to United States residents in order to recognize
differences among the countries in law, tax policy, and custom.&#160;&#160;Such
grants shall be made in an attempt to give such individuals essentially the same
benefits as contemplated by a grant to United States residents under the terms
of this Plan.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">12. <font style="DISPLAY: inline; TEXT-DECORATION: underline">Listing and Registration of
Shares</font>.&#160;&#160;&#160;Each Option shall be subject to the requirement
that if at any time the Plan Administrators shall determine, in their sole
discretion, that it is necessary or desirable to list, register, or qualify the
shares covered thereby on any securities exchange or under any state or federal
law, or obtain the consent or approval of any governmental agency or regulatory
body as a condition of, or in connection with, the granting of such Option or
the issuance or purchase of shares thereunder, such Option may not be exercised
in whole or in part unless and until such listing, registration, consent, or
approval shall have been effected or obtained free of any conditions not
acceptable to the Plan Administrators.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">13. <font style="DISPLAY: inline; TEXT-DECORATION: underline">Expiration and Termination
of this Plan</font>.&#160;&#160;This Plan may be abandoned or terminated at any
time by the Plan Administrators except with respect to any Options then
outstanding under this Plan.&#160;&#160;This Plan shall otherwise terminate on
the earlier of the date that is five years from the date first appearing in this
Plan or the date on which the One Hundred One Million Three Hundred Fifty
Thousandth share is issued hereunder.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">14. <font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment of this
Plan</font>.&#160;&#160;&#160;The Plan Administrators may modify and amend this
Plan in any respect.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">ATTEST:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;/s/ Richard
Surber&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;.</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Richard
D. Surber, President</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
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          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman; FONT-VARIANT: small-caps">MICHAEL
GOLIGHTLY</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">59 West
100 South</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 11pt">Second Floor</font>Telephone:
</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 11pt">Lake City, Utah
84101</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="justify">Attorney at Law<font style="DISPLAY: inline; FONT-SIZE: 11pt">Salt</font><font style="DISPLAY: inline; FONT-SIZE: 11pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (801) 575-8073 ext 105</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt"><font size="2">Admitted in Texas </font></font><font style="DISPLAY: inline; FONT-SIZE: 11pt"><font size="2">and Utah<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;</font><font size="3">Facsimile: (801) 575-8092</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</font><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">August
19, 2008</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Board of
Directors</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Nexia
Holdings, Inc.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">59 West
100 South, Second Floor</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Salt Lake
City, Utah 84101</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Re:</font></div>
              </td>
              <td>
                <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Legality
      and Authorization of Shares Issued Under Form S-8 Registration
      Statement</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Gentlemen:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">I have
acted as special counsel for Nexia Holdings, Inc., a Nevada corporation (the
<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">A</font>Company<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">@</font>),
in the limited capacity of rendering an opinion regarding the legality and
authorization of the shares proposed to be registered under a registration
statement on Form S-8 (the <font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">A</font>Registration
Statement<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">@</font>)
to be filed with the Securities and Exchange Commission (<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">A</font>the
Commission<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">@</font>)
under the Securities Act of 1933, as amended, (<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">A</font>the
Act<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">@</font>).&#160;&#160;The
Company is registering an Amended Benefit Plan entitled <font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">A</font>The
Third Amendment to the 2008 Benefit Plan of Nexia Holdings, Inc.<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">@</font>
(the <font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">A</font>Benefit
Plan<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">@</font>)
pursuant to which the Company has authorized the issuance of an additional One
Hundred Million (100,000,000) shares of the Company&#8217;s common stock in addition
to the original authorization and amendments thereto for a total of One Million
Three Hundred Fifty Thousand (1,350,000) shares of the Company<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">=</font>s
common stock, par value $.0001 (the <font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">A</font>Shares<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">@</font>)
(all numbers reflect the a for 1,000 reverse stock split that was declared by
the Company).</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">In
connection with the preparation of this Opinion, I have examined the
following:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">1.&#160;&#160;&#160;The
Company<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">=</font>s
Articles of Incorporation and amendments thereto and Bylaws as submitted&#160;to
me by the Company pursuant to my request for same;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">2.&#160;&#160;&#160;The
Registration Statement herein referenced;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 61px">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;
      &#160; 3.</font></div>
              </td>
              <td width="920">
                <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">The
      Board of Director&#8217;s Resolution, dated August 11, 2008, authorizing and
      approving the&#160;&#160;&#160;&#160;&#160;Company<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">=</font>s
      Third Amendment to the 2008 Benefit Plan and the preparation of the
      Registration Statement;</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">4.&#160;&#160;&#160;The
Company<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">=</font>s
Section 10(a) Prospectus for the Registration Statement;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">5.&#160;&#160;&#160;The
Company<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">=</font>s
Form 10-K for the fiscal year ended December 31, 2007;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">6.&#160;&#160;&#160;The
Company&#8217;s Form 10-Q/A for the quarter ended March 31, 2008;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">7.&#160;&#160;Such
other documents as I have deemed necessary for the purposes of this
Opinion.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Additionally,
I have made such investigations of federal law as I have considered necessary
and appropriate to form a basis for this opinion.&#160;&#160;My opinion is
qualified by the scope of the review specified herein and I make no
representations as to the sufficiency of my investigation for this
opinion.&#160;&#160;I further expressly exempt from this opinion any
representations as to the completeness, adequacy, accuracy or any other aspect
of the financial statements incorporated in the Registration
Statement.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">The
documentation and representations provided to me for this opinion by the Company
and its duly authorized representatives indicate that the Company is validly
organized under the laws of the State of Nevada; the Company is current in its
filings with the Commission; the Company<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">=</font>s
Board of Directors has authorized the Benefit Plan; the Company<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">=</font>s
Board of Directors has authorized the filing of the Registration Statement; and
that the One Hundred Million&#160;&#160;(100,000,000) new shares to be included
in the Registration Statement are available for issuance based upon corporate
documentation and on the amount of shares actually issued and
outstanding.&#160;&#160;&#160;As such, I am of the opinion that the Shares
herein referenced have been duly and validly authorized and that subject to
compliance with all provision of the Plan, the Shares will be validly issued as
fully paid and non-assessable shares of common stock in the
Company.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">This
opinion is based upon and subject to the qualifications and limitations
specified below:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">(A)
Certain of the remedial provisions of the 2008 Benefit Plan may be further
limited or rendered unenforceable by other applicable laws and
interpretations.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">(B) In
rendering the opinion that the shares of the Common Stock to be registered
pursuant to the Registration Statement and issued under the Benefit Plan will be
validly issued, fully paid and non-assessable, I assumed that: (1) the
Company<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">=</font>s
Board of Directors has exercised good faith in establishing the value paid for
the Shares; (2) all issuances and cancellations of the capital stock of the
Company will be fully and accurately reflected in the Company<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">=</font>s
Stock Records as provided by the Company<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">=</font>s
transfer agent; and (3) the consideration, as determined by the Company<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">=</font>s
Board of Directors, to be received in exchange for each issuance of common stock
of the Company, has been paid in full and actually received by the
Company.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">(C) I
have made no independent verification of the facts asserted to be true and
accurate by authorized representatives of the Company and have assumed that no
person or entity has engaged in fraud or misrepresentation regarding the
inducement relating to, or the execution or delivery of, the documents
reviewed.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">(D) In
rendering this opinion I have assumed that all signatures are genuine, that all
documents submitted to me as copies conform substantially to the originals, that
all documents have been duly executed on or as of the date represented on the
documents, that execution and delivery of the documents was duly authorized on
the part of the parties, that all documents are legal, valid and binding on the
parties and that all corporate records are complete.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">(E) I
have assumed that the Company is satisfying the substantive requirements of Form
S-8 and I expressly disclaim any opinion regarding the Company<font style="DISPLAY: inline;" face="WP TypographicSymbols, Courier">=</font>s
compliance with such requirements, whether they are of federal or state origin,
or any opinion as to the subsequent tradeability of any Shares issued pursuant
to the Benefit Plan.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">(F) I am
admitted to practice law in the State of Utah.&#160;&#160;I am not admitted to
practice law in the State of Nevada or in any other jurisdiction where the
Company may own property or transact business.&#160;&#160;This opinion is with
respect to federal law only and I have not consulted legal counsel from any
other jurisdiction for the purpose of the opinion contained herein.&#160;&#160;I
expressly except from this opinion any opinion as to whether or to what extent a
Nevada court or any other court would apply Nevada law, or the law of any other
state or jurisdiction, to any particular aspect of the facts, circumstances and
transactions that are the subject of this opinion.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">(G) This
opinion is strictly limited to the parameters contained and referenced herein
and is valid only as to the signature date with respect to the
same.&#160;&#160;I assume no responsibility to advise you of any subsequent
changes or developments which might affect any aspect to this
opinion.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">I hereby
consent to the use of this opinion as an exhibit to the Registration
Statement.&#160;&#160;This opinion may not be used, relied upon, circulated,
quoted or otherwise referenced in whole or in part for any purpose without my
written consent.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Sincerely,</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">/s/
Michael Golightly</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Michael
Golightly</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
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      </div>
      <div>&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Exhibit
A</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><br>&#160;</div>
        <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 18pt">H</font>ANSEN,<font style="DISPLAY: inline; FONT-SIZE: 18pt"> B</font>ARNETT<font style="DISPLAY: inline; FONT-SIZE: 18pt"> &amp; M</font>AXWELL,
P.C.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 41.35pt"></font>A Professional
Corporation</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 10.5pt"></font>CERTIFIED PUBLIC
ACCOUNTANTS</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 46.05pt"></font>5 Triad Center, Suite
750</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 32pt"></font>Salt Lake City, UT
84180-1128</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 50.75pt"></font>Phone: (801) 532-2200</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 56.25pt"></font>Fax: (801) 532-7944</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 58.1pt"></font><font style="DISPLAY: inline; FONT-SIZE: 11pt">www.hbmcpas.com</font></font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">CONSENT OF INDEPENDENT
REGISTERED PUBLIC ACCOUNTING FIRM</font></font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">We hereby
consent to the incorporation by reference in this Registration Statement of
Nexia Holdings, Inc. on Form S-8, of our report dated April 15, 2008, (which
includes an emphasis paragraph relating to an uncertainty as to the Company&#8217;s
ability to continue as a going concern), included in the Annual Report on Form
10-K of Nexia Holdings, Inc. for the year ended December 31, 2007.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt">Salt Lake City, Utah</div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt">August 21, 2008</div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="TEXT-DECORATION: underline">/s/ Hansen, Barnett &amp; Maxwell,
P.C.</font></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;<font style="TEXT-DECORATION: none">Hansen, Barnett &amp; Maxwell,
P.C.</font></font></div>
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[{"type": "S-8", "sequence": "1", "filename": "forms-8.htm", "description": "NEXH S-8 08.15.08", "secsgml_size_bytes": 104536}]
{"company-data": {"conformed-name": "NEXIA HOLDINGS INC", "cik": "0000833209", "assigned-sic": "6510", "irs-number": "841062062", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-153134", "film-number": "081033643"}, "business-address": {"street1": "59 WEST 100 SOUTH", "city": "SALT LAKE CITY", "state": "UT", "zip": "84101", "phone": "8015758073"}, "mail-address": {"street1": "59 WEST 100 SOUTH", "city": "SALT LAKE CITY", "state": "UT", "zip": "84101"}, "former-company": [{"former-conformed-name": "KELLYS COFFEE GROUP INC", "date-changed": "19940603"}, {"former-conformed-name": "GREAT EARTH VITAMIN GROUP INC", "date-changed": "19940107"}, {"former-conformed-name": "WELCOM CAPITAL INC", "date-changed": "19920703"}]}
forms-8.htm
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM S-8
REGISTRATION
STATEMENT
UNDER
THE
SECURITIES ACT OF 1933
NEXIA HOLDINGS,
INC.
(Exact
name of registrant as specified in its charter)
Nevada
84-1062062
(State or
other jurisdiction
of                                                     
           (I.R.S.
Employer Identification No.)
incorporation
or organization)
59 West 100 South, Second
Floor, Salt Lake City, Utah 84101
(Address
of principal executive offices)
The Amended 2008 Benefit
Plan of Nexia Holdings, Inc.
(Full
title of the plan)
Richard D. Surber, 59 West
100 South, Second Floor, Salt Lake City, Utah 84101
(Name,
address, including zip code, of agent for service)
Telephone
number for Issuer:
(801)
575-8073
CALCULATION
OF REGISTRATION FEE
Title
      of Securities to be Registered
Amounts
      to be Registered
Proposed
      Maximum Offering Price Per Share(1)
Proposed
      Maximum Aggregate Offering Price
Amount
      of Registration Fee
Common
      Stock, 0.0001 par value
100,000,000
$0.03
$3,000,000
$1,179
(1)
Bona
      fide estimate of maximum offering price solely for calculating the
      registration fee pursuant to Rule 457(h) of the Securities Act of 1933,
      based on the average bid and asked price of the registrant
=
s
      common stock as of August  18, 2008, a date within five business
      days prior to the date of filing of this registration
      statement.
In
addition, pursuant to Rule 416(c) under the Securities Act of 1933, this
Registration Statement also covers an indeterminate amount of interests to be
offered or sold pursuant to the Plan described herein.
1
Registration
Statement Pursuant to General Instruction E to form S-8
2008
Benefit Plan of Nexia Holdings, Inc.
This Registration Statement is being
filed pursuant to General Instruction E to Form S-8, to reflect that the Board
of Directors of Nexia Holdings, Inc. (the
"
Company") has
amended The 2008 Benefit Plan of Nexia Holdings, Inc. as originally filed by the
Company in a Form S-8 filed on October 12, 2007, SEC file no. 333-146693, as
amended on February 11, 2008, SEC file no 333-149145 and as amended on March 13,
2008, SEC file no. 333-149145, all of which are incorporated herein by
reference.  This Registration statement will increase the number of
reverse stock split shares to be included in the amended plan by One Hundred
Million (100,000,000) shares of the common stock of the
Company.
The
100,000,000 shares registered hereunder increases the total number of shares
registered under The 2008 Benefit Plan of Nexia Holdings, Inc. as amended to
101,350,000, reflecting the 1 for 1,000 reverse stock split that became fully
effective as of July 29, 2008.
The
amendment to the 2008 Benefit Plan of Nexia Holdings, Inc. is filed as
Exhibit
"
A"
hereto.  The additional One Hundred Million (100,000,000) shares are
being registered hereby.
The total
number of shares registered under the 2008 Benefit Plan of Nexia Holdings, Inc.
as amended will be 101,350,000.
The
following documents, all of which were previously filed by the Registrant with
the Securities and Exchange Commission pursuant to the Securities Exchange Act
of 1934, as amended, are hereby incorporated by reference:
(a)
The
      Registrant's Annual Report on Form 10-K for the year ended December 31,
      2007, filed with the Commission on May 16,
2008.
(b)
The
      Registrant's Quarterly Report on Form 10-Q/A for its fiscal quarter ended
      March 31, 2008, filed with the Commission on August 22,
    2008.
(c)  The
Registrant's Quartely Report on Form 10-Q for its financial quarter ended
June 30, 2008, filed with the Commision on August 19, 2008.
ITEM
8-Exhibits
Exhibits
SEC Ref. No.
Description of Exhibit
Page
A
4
Third
      Amendment to 2008 Stock Benefit Plan of the Company
6
B
5,
      23(b)
Opinion
      and consent of Counsel with respect to the legality of the issuance of
      securities being issued
10
C
23(a)
Consents
      of Independent Registered Accounting Firm
13
2
SIGNATURES
Pursuant
to the requirements of the Securities Act, the registrant certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing
on Form S-8 and has duly caused this Registration Statement to be signed on its
behalf by the undersigned, thereunto duly authorized, on August 19,
2008.
Nexia
Holdings, Inc.
By:
/s/
Richard
Surber                              .
Richard
D. Surber, as President
Pursuant
to the requirements of the Securities Act of 1933, this Registration Statement
has been signed by the following persons in the capacities and on the date
indicated.
Signature
Title
Date
/s/ Richard
      Surber
Director
August
      19, 2008
Richard
D. Surber
/s/ Gerald
      Einhorn
Director
August
      19, 2008
Gerald
Einhorn
/s/ Adrienne
      Bernstein
Director
August
      19, 2008
Adrienne
Bernstein
3
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C.  20549
EXHIBITS
TO
FORM
S-8
REGISTRATION
STATEMENT
UNDER
THE
SECURITIES ACT OF 1933
Nexia
Holdings, Inc.
(a Nevada
corporation)
INDEX TO
EXHIBITS
Exhibits
SEC Ref. No.
Description of Exhibit
Page
A
4
Third
      Amendment to 2008 Stock Benefit Plan of the Company
5
B
5,
      23(b)
Opinion
      and consent of Counsel with respect to the legality of the issuance of
      securities being issued
9
C
23(a)
Consents
      of Independent Registered Accounting Firm
12
4
THE THIRD
AMENDMENT TO THE
2008
BENEFIT PLAN
OF
NEXIA
HOLDINGS, INC.
THE THIRD
AMENDMENT TO THE 2008 BENEFIT PLAN OF NEXIA HOLDINGS, INC.
Nexia
Holdings, Inc., a Nevada corporation (the
A
Company
@
),
hereby adopts The Third Amendment to the 2008 Benefit Plan of Nexia Holdings,
Inc. (the
A
Plan
@
)
this 11
th
day of
August, 2008.  Under the Plan, the Company may issue stock, or grant
options to acquire the Company's common stock, par value $0.0001 (the
A
Stock
@
),
from time to time to employees of the Company or its subsidiaries, all on the
terms and conditions set forth herein (
A
Benefits
@
).  In
addition, at the discretion of the Board of Directors, Benefits may from time to
time be granted under this Plan to other individuals, including consultants or
advisors, who contribute to the success of the Company or its subsidiaries, but
are not employees of the Company or its subsidiaries, provided that bona fide
services shall be rendered by consultants and advisors and such services must
not be in connection with the offer or sale of securities in a capital-raising
transaction. No stock may be issued, or option granted under the benefit plan to
consultants, advisors, or other persons who directly or indirectly promote or
maintain a market for the Company
=
s
securities.
1.
Purpose of the Plan
.
The Plan is intended to aid the Company in maintaining and developing a
management team, attracting qualified officers and employees capable of assuring
the future success of the Company, and rewarding those individuals who have
contributed to the success of the Company.  The Company has designed
this Plan to aid it in retaining the services of executives and employees and in
attracting new personnel when needed for future operations and growth and to
provide such personnel with an incentive to remain employees of the Company, to
use their best efforts to promote the success of the Company's business, and to
provide them with an opportunity to obtain or increase a proprietary interest in
the Company.  It is also designed to permit the Company to reward
those individuals who are not employees of the Company, but who management
perceives to have contributed to the success of the Company or who are important
to the continued business and operations of the Company.  The above
goals will be achieved through the granting of Benefits.
2.
Administration of this
Plan
.  Administration of this Plan shall be determined by the
Company's Board of Directors (the
A
Board
@
).  Subject
to compliance with applicable provisions of the governing law, the Board may
delegate administration of this Plan or specific administrative duties with
respect to this Plan on such terms and to such committees of the Board as it
deems proper (hereinafter the Board or its authorized committee shall be
referred to as
A
Plan
Administrators
@
).  The
interpretation and construction of the terms of this Plan by the Plan
Administrators thereof shall be final and binding on all participants in this
Plan absent a showing of demonstrable error.  No member of the Plan
Administrators shall be liable for any action taken or determination made in
good faith with respect to this Plan.  Any Benefit approved by a
majority vote of those Plan Administrators attending a duly and properly held
meeting shall be valid.  Any Benefit approved by the Plan
Administrators shall be approved as specified by the Board at the time of
delegation.
3.
Shares of Stock Subject to
this Plan
.   A total of One Hundred One Million Three
Hundred Fifty Thousand (101,350,000) shares of post reverse Stock may be subject
to, or issued pursuant to, Benefits granted under this Plan.  If any
right to acquire Stock granted under this Plan is exercised by the delivery of
shares of Stock or the relinquishment of rights to shares of Stock, only the net
shares of Stock issued (the shares of stock issued less the shares of Stock
surrendered) shall count against the total number of shares reserved for
issuance under the terms of this Plan.  All shares subject to this
Amendment and plan are subsequent to the 1 for 1,000 reverse stock split carried
out by the Company and made fully effective as of July 29, 2008 and thus are
post-reverse shares.
4.
Reservation of Stock on
Granting of Option
.  At the time any Option is granted under
the terms of this Plan, the Company will reserve for issuance the number of
shares of Stock subject to such Option until it is exercised or
expires.  The Company may reserve either authorized, but unissued
shares or issued shares reacquired by the Company.
5.
Eligibility
.  The
Plan Administrators may grant Benefits to employees, officers, and directors of
the Company and its subsidiaries, as may be existing from time to time, and to
other individuals who are not employees of the Company or its subsidiaries,
including consultants and advisors, provided that such consultants and advisors
render bona fide services to the Company or its subsidiaries and such services
are not rendered in connection with the offer or sale of securities in a
capital-raising transaction.  In any case, the Plan Administrators
shall determine, based on the foregoing limitations and the Company
=
s
best interests, which employees, officers, directors, consultants and advisors
are eligible to participate in this Plan.  Benefits shall be in the
amounts, and shall have the rights and be subject to the restrictions, as may be
determined by the Plan Administrators, all as may be within the provisions of
this Plan.
6.
Term of Options issued as
Benefits and Certain Limitations on Right to Exercise.
a.Each
Option issued as a benefit hereunder (
A
Option
@
)
shall have its term established by the Plan Administrators at the time the
Option is granted.
b.The
term of the Option, once it is granted, may be reduced only as provided for in
this Plan and under the express written provisions of the Option.
c.Unless
otherwise specifically provided by the written provisions of the Option or
required by applicable disclosure or other legal requirements promulgated by the
Securities and Exchange Commission (
A
SEC
@
),
no participant of this Plan or his or her legal representative, legatee, or
distributee will be, or shall be deemed to be, a holder of any shares subject to
an Option unless and until such participant exercises his or her right to
acquire all or a portion of the Stock subject to the Option and delivers the
required consideration to the Company in accordance with the terms of this Plan
and then only as to the number of shares of Stock acquired.  Except as
specifically provided in this Plan or as otherwise specifically provided by the
written provisions of the Option, no adjustment to the exercise price or the
number of shares of Stock subject to the Option shall be made for dividends or
other rights for which the record date is prior to the date on which the Stock
subject to the Option is acquired by the holder.
d.Options
shall vest and become exercisable at such time or times and on such terms as the
Plan Administrators may determine at the time of the grant of the
Option.
e.Options
may contain such other provisions, including further lawful restrictions on the
vesting and exercise of the Options as the Plan Administrators may deem
advisable.
f.In no
event may an Option be exercised after the expiration of its term.
g.Options
shall be non-transferable, except by the laws of descent and
distribution.
5
7.
Exercise
Price
.   The Plan Administrators shall establish the
exercise price payable to the Company for shares to be obtained pursuant to
Options, which exercise price may be amended from time to time as the Plan
Administrators shall determine.
8.
Payment of Exercise
Price
.  The exercise of any Option shall be contingent on
receipt by the Company of the exercise price paid in either cash, certified or
personal check payable to the Company.
9.
Withholding
.  If
the grant of a Benefit hereunder, or exercise of an Option given as a Benefit is
subject to withholding or other trust fund payment requirements of the Internal
Revenue Code of 1986, as amended (the
A
Code
@
),
or applicable state or local laws, the Company will initially pay the
Optionee
=
s
liability and will be reimbursed by Optionee no later than six months after such
liability arises and Optionee hereby agrees to such reimbursement
terms.
10.
Dilution or Other
Adjustment.
The shares of Common Stock subject to this Plan
and the exercise price of outstanding Options are subject to proportionate
adjustment in the event of a stock dividend on the Common Stock or a change in
the number of issued and outstanding shares of Common Stock as a result of a
stock split, consolidation, or other recapitalization.  The Company,
at its option, may adjust the Options, issue replacements, or declare Options
void.
11.
Benefits to Foreign
Nationals
.   The Plan Administrators may, in order to
fulfill the purpose of this Plan and without amending this Plan, grant Benefits
to foreign nationals or individuals residing in foreign countries that contain
provisions, restrictions, and limitations different from those set forth in this
Plan and the Benefits made to United States residents in order to recognize
differences among the countries in law, tax policy, and custom.  Such
grants shall be made in an attempt to give such individuals essentially the same
benefits as contemplated by a grant to United States residents under the terms
of this Plan.
12.
Listing and Registration of
Shares
.   Each Option shall be subject to the requirement
that if at any time the Plan Administrators shall determine, in their sole
discretion, that it is necessary or desirable to list, register, or qualify the
shares covered thereby on any securities exchange or under any state or federal
law, or obtain the consent or approval of any governmental agency or regulatory
body as a condition of, or in connection with, the granting of such Option or
the issuance or purchase of shares thereunder, such Option may not be exercised
in whole or in part unless and until such listing, registration, consent, or
approval shall have been effected or obtained free of any conditions not
acceptable to the Plan Administrators.
13.
Expiration and Termination
of this Plan
.  This Plan may be abandoned or terminated at any
time by the Plan Administrators except with respect to any Options then
outstanding under this Plan.  This Plan shall otherwise terminate on
the earlier of the date that is five years from the date first appearing in this
Plan or the date on which the One Hundred One Million Three Hundred Fifty
Thousandth share is issued hereunder.
14.
Amendment of this
Plan
.   The Plan Administrators may modify and amend this
Plan in any respect.
ATTEST:
/s/ Richard
Surber                .
Richard
D. Surber, President
6
MICHAEL
GOLIGHTLY
59 West
100 South
Second Floor
Telephone:
Lake City, Utah
84101
Attorney at Law
Salt
(801) 575-8073 ext 105
Admitted in Texas
and Utah
Facsimile: (801) 575-8092
August
19, 2008
Board of
Directors
Nexia
Holdings, Inc.
59 West
100 South, Second Floor
Salt Lake
City, Utah 84101
Re:
Legality
      and Authorization of Shares Issued Under Form S-8 Registration
      Statement
Gentlemen:
I have
acted as special counsel for Nexia Holdings, Inc., a Nevada corporation (the
A
Company
@
),
in the limited capacity of rendering an opinion regarding the legality and
authorization of the shares proposed to be registered under a registration
statement on Form S-8 (the
A
Registration
Statement
@
)
to be filed with the Securities and Exchange Commission (
A
the
Commission
@
)
under the Securities Act of 1933, as amended, (
A
the
Act
@
).  The
Company is registering an Amended Benefit Plan entitled
A
The
Third Amendment to the 2008 Benefit Plan of Nexia Holdings, Inc.
@
(the
A
Benefit
Plan
@
)
pursuant to which the Company has authorized the issuance of an additional One
Hundred Million (100,000,000) shares of the Company's common stock in addition
to the original authorization and amendments thereto for a total of One Million
Three Hundred Fifty Thousand (1,350,000) shares of the Company
=
s
common stock, par value $.0001 (the
A
Shares
@
)
(all numbers reflect the a for 1,000 reverse stock split that was declared by
the Company).
In
connection with the preparation of this Opinion, I have examined the
following:
1.   The
Company
=
s
Articles of Incorporation and amendments thereto and Bylaws as submitted to
me by the Company pursuant to my request for same;
2.   The
Registration Statement herein referenced;
3.
The
      Board of Director's Resolution, dated August 11, 2008, authorizing and
      approving the     Company
=
s
      Third Amendment to the 2008 Benefit Plan and the preparation of the
      Registration Statement;
4.   The
Company
=
s
Section 10(a) Prospectus for the Registration Statement;
5.   The
Company
=
s
Form 10-K for the fiscal year ended December 31, 2007;
6.   The
Company's Form 10-Q/A for the quarter ended March 31, 2008;
7.  Such
other documents as I have deemed necessary for the purposes of this
Opinion.
Additionally,
I have made such investigations of federal law as I have considered necessary
and appropriate to form a basis for this opinion.  My opinion is
qualified by the scope of the review specified herein and I make no
representations as to the sufficiency of my investigation for this
opinion.  I further expressly exempt from this opinion any
representations as to the completeness, adequacy, accuracy or any other aspect
of the financial statements incorporated in the Registration
Statement.
The
documentation and representations provided to me for this opinion by the Company
and its duly authorized representatives indicate that the Company is validly
organized under the laws of the State of Nevada; the Company is current in its
filings with the Commission; the Company
=
s
Board of Directors has authorized the Benefit Plan; the Company
=
s
Board of Directors has authorized the filing of the Registration Statement; and
that the One Hundred Million  (100,000,000) new shares to be included
in the Registration Statement are available for issuance based upon corporate
documentation and on the amount of shares actually issued and
outstanding.   As such, I am of the opinion that the Shares
herein referenced have been duly and validly authorized and that subject to
compliance with all provision of the Plan, the Shares will be validly issued as
fully paid and non-assessable shares of common stock in the
Company.
This
opinion is based upon and subject to the qualifications and limitations
specified below:
(A)
Certain of the remedial provisions of the 2008 Benefit Plan may be further
limited or rendered unenforceable by other applicable laws and
interpretations.
(B) In
rendering the opinion that the shares of the Common Stock to be registered
pursuant to the Registration Statement and issued under the Benefit Plan will be
validly issued, fully paid and non-assessable, I assumed that: (1) the
Company
=
s
Board of Directors has exercised good faith in establishing the value paid for
the Shares; (2) all issuances and cancellations of the capital stock of the
Company will be fully and accurately reflected in the Company
=
s
Stock Records as provided by the Company
=
s
transfer agent; and (3) the consideration, as determined by the Company
=
s
Board of Directors, to be received in exchange for each issuance of common stock
of the Company, has been paid in full and actually received by the
Company.
(C) I
have made no independent verification of the facts asserted to be true and
accurate by authorized representatives of the Company and have assumed that no
person or entity has engaged in fraud or misrepresentation regarding the
inducement relating to, or the execution or delivery of, the documents
reviewed.
(D) In
rendering this opinion I have assumed that all signatures are genuine, that all
documents submitted to me as copies conform substantially to the originals, that
all documents have been duly executed on or as of the date represented on the
documents, that execution and delivery of the documents was duly authorized on
the part of the parties, that all documents are legal, valid and binding on the
parties and that all corporate records are complete.
(E) I
have assumed that the Company is satisfying the substantive requirements of Form
S-8 and I expressly disclaim any opinion regarding the Company
=
s
compliance with such requirements, whether they are of federal or state origin,
or any opinion as to the subsequent tradeability of any Shares issued pursuant
to the Benefit Plan.
(F) I am
admitted to practice law in the State of Utah.  I am not admitted to
practice law in the State of Nevada or in any other jurisdiction where the
Company may own property or transact business.  This opinion is with
respect to federal law only and I have not consulted legal counsel from any
other jurisdiction for the purpose of the opinion contained herein.  I
expressly except from this opinion any opinion as to whether or to what extent a
Nevada court or any other court would apply Nevada law, or the law of any other
state or jurisdiction, to any particular aspect of the facts, circumstances and
transactions that are the subject of this opinion.
(G) This
opinion is strictly limited to the parameters contained and referenced herein
and is valid only as to the signature date with respect to the
same.  I assume no responsibility to advise you of any subsequent
changes or developments which might affect any aspect to this
opinion.
I hereby
consent to the use of this opinion as an exhibit to the Registration
Statement.  This opinion may not be used, relied upon, circulated,
quoted or otherwise referenced in whole or in part for any purpose without my
written consent.
Sincerely,
/s/
Michael Golightly
Michael
Golightly
7
Exhibit
A
H
ANSEN,
B
ARNETT
& M
AXWELL,
P.C.
A Professional
Corporation
CERTIFIED PUBLIC
ACCOUNTANTS
5 Triad Center, Suite
750
Salt Lake City, UT
84180-1128
Phone: (801) 532-2200
Fax: (801) 532-7944
www.hbmcpas.com
CONSENT OF INDEPENDENT
REGISTERED PUBLIC ACCOUNTING FIRM
We hereby
consent to the incorporation by reference in this Registration Statement of
Nexia Holdings, Inc. on Form S-8, of our report dated April 15, 2008, (which
includes an emphasis paragraph relating to an uncertainty as to the Company's
ability to continue as a going concern), included in the Annual Report on Form
10-K of Nexia Holdings, Inc. for the year ended December 31, 2007.
Salt Lake City, Utah
August 21, 2008
/s/ Hansen, Barnett & Maxwell,
P.C.
Hansen, Barnett & Maxwell,
P.C.