FORT LAUDERDALE, Fla., Aug. 15, 2012 /PRNewswire/ -- Next 1 Interactive, Inc. (OTCBB: NXOI) is pleased to announce, as part of an ongoing structuring of its assets, that it has entered into new financings, and debt conversions allowing for strategic acquisition for its real estate division, Next One Realty.

Accordingly, the company has completed a Preferred B financing of $1,310,500. The Preferred B shares carry a ten percent dividend and allow the beneficial owner a dual conversion option to either convert into Next 1 common stock at $5.00 per share or into Next One Realty common stock at $.05 cents per share, for the next two-year period. Additionally, the company sold a $200,000 debenture secured by the company's travel assets, bringing the total amount raised to $1,510,500. Capital from these financings is being used for strategic acquisition in real estate and working capital to allow for the roll-out of the company's real estate operations.

Furthermore, the company has converted $1,324,600 of outstanding debt to a newly designated series of preferred stock ("Preferred D" shares). The Preferred D shares carry a ten percent dividend and allow the beneficial owner a dual conversion option to either convert into Next 1 Interactive common stock at $5.00 per share or into Next One Realty common stock at $.15 cents per share, for the next two-year period.

Finally, Next 1 Interactive has reached agreement with Acknew Holdings to consolidate Real Biz Media with Next One Realty. Under the agreement Acknew Holdings will receive cash, $1.9 million Preferred D shares, and Board rights. This integration coordinates all real estate operations under Next One Realty. Next 1 Interactive will be responsible for providing operating capital for the planned expansion & rollout of its TV, web and mobile real estate platforms.

About Next 1 Interactive Inc.

Next 1 Interactive, Inc. (NXOI) is a multi-faceted media company specializing in Travel and Real Estate. Next 1 plans the delivery of targeted content via multiple digital platforms including cable, video on demand, web and mobile. The company business plan calls for multiple revenue streams from real estate and travel content delivery including transactional commissions, referral fees, advertising and sponsorship. The multiple revenue streams and integrated media platforms allow for the delivery of measurable return on investment to its advertisers, sponsors and business partners.

Safe Harbor Statement

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plan, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

Contact:
NXOI Corporate Headquarters
Next 1 Interactive, Inc.
Direct: 954-888-9779
[ investorrelations@nxoi.com ]

SOURCE Next 1 Interactive, Inc.

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"Next 1 Completes Financing, Debt Conversion And Strategic Acquisition"