SALT LAKE CITY, March 29, 2011 /PRNewswire/ -- Green Endeavors,
Inc. (OTCQB: GRNE), a subsidiary of Nexia Holdings, Inc.
(PINKSHEETS: NXHD), filed its Form 10-K with the Securities and
Exchange Commission yesterday reporting consolidated net income of
$43,939. Salon revenues increased
10.1% in fiscal 2010 to $2,250,998,
compared to $2,044,351 a year ago.
During 2010, Green experienced a 6.2% growth rate in same-store
sales and 3.9% second salon growth over the previous year.
Some promising results as reported in the filing:
- Our 2010 service revenue is up 13.5% over 2009.
- Our Marmalade salon is off to a good start by exceeding initial
revenue predictions.
- Our net income for 2010 was $43,939 compared to a net loss that exceeded
$385,000 in 2009.
- Green's total number of employees at December 31, 2010 was estimated to be 78, with 75
people employed directly in the salons and three working on the
corporate management level.
- Our balance sheet is slowly strengthening. Total assets
increased over total liabilities by $206,559.
- Total assets are up $642,202 or
146% over 2009.
- Total liabilities are up $435,643
or 11%.
The expansion plans for Landis Lifestyle Salons are currently
moving forward; the success of the recently opened Marmalade salon
is providing a sound track record on which future salon expansion
can be based. Specific plans are moving forward for an additional
salon to be located in the Draper,
Utah area during the current year.
Green's management team was pleased that this filing was made on
time, as it maintains Green's current reporting status with the SEC
and provides current and updated information for its shareholders
and investors.
About Green Endeavors, Inc.:
Green Endeavors, Inc. (OTCQB: GRNE), Green's Website, operates
salons under the name Landis Lifestyle Salons through its
subsidiaries Landis Salons, Inc. and Landis Salons II, Inc., see
Landis Salons Website for more information. Our salons are built
around the world-class AVEDA™ product line. Green strongly
encourages the public to read the above information in conjunction
with its reports filed at www.sec.gov and on www.pinksheets.com.
Investors should not invest more than they can afford to lose
in penny stocks.
Green Endeavors is a subsidiary of Nexia Holdings, Inc.
(PINKSHEETS: NXHD), headquartered in Salt
Lake City, Utah, Nexia is a diversified holdings company
with operations in entertainment, health & beauty, and real
estate. You can find out more at Green Endeavors Facebook,
and Landis Salons Facebook. More information can be found by
visiting www.nexiaholdings.com, Nexia Holdings' Facebook, Multivu
Link or visit The Kane Files Facebook.
FOR MORE INFORMATION, CONTACT:
Richard Surber, President
Green Endeavors, Inc.
801-575-8073 x 106
Hudconsult@aol.com
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SOURCE Green Endeavors, Inc.