GRNE Posts Annual Net Profit in 2013; an $865,470 Improvement Over 2012
April 16 2014 - 12:00PM
Marketwired
GRNE Posts Annual Net Profit in 2013; an $865,470 Improvement Over
2012
SALT LAKE CITY, UT--(Marketwired - Apr 16, 2014) - Green
Endeavors, Inc. (OTCQB: GRNE), a majority owned subsidiary of Nexia
Holdings, Inc. (PINKSHEETS: NXHD), announced that it is has filed
its Annual Report on Form10-K for the year ended December 31,
2013.
GRNE is reporting net income of $51,136 for the year ended
December 31, 2013, as compared to a net loss of $814,334 for the
comparable period in 2012, an $865,470 improvement. The
significant improvement to net income was bolstered by revenues of
$3,566,027 for 2013, which also increased by an impressive $417,571
or 13.3% over 2012.
Richard Surber, President and CEO of Green Endeavors, Inc.,
commented, "My team was able to significantly increase revenues
while simultaneously reducing operating expenses. The exciting
news is that we have room for significant improvement to grow top
line revenues well into the future. Our goal is to increase
the number of transactions and dollar amount of each transaction
well into the future. I will continue to look for ways to
improve efficiency in our existing locations and cut operating
costs well into 2014. I expect to be able to remove
significant amounts of debt and further decrease interest expenses
in the second quarter of 2014 in an effort to further strengthen
our balance sheet and cash flows."
Mr. Surber continued, "We also eliminated several high interest
debts or instruments known as derivatives which will smooth out our
income statement in the future and reduce their dilutive
effect. I encourage investors to read our entire Form 10K for
a more complete picture of GRNE's financial health."
About Green Endeavors, Inc.: Green Endeavors, Inc. (OTCQB:
GRNE), headquartered in Salt Lake City, Utah, is a holding company
with operations in health & beauty. GRNE's wholly owned
subsidiaries, Landis Salons, Inc. and Landis Salons II, Inc.
http://www.landissalons.com, operate hair salons built around the
world-class AVEDA™ product line. Our newest wholly owned subsidiary
Landis Experience Center, LLC, http://www.avedaatcitycreek.com,
sells a full array of Aveda™ products. For more information,
visit http://www.green-endeavors.com. GRNE strongly encourages
the public to read the above information in conjunction with its
filings and disclosures filed in 2012 and 2013. GRNE's
disclosures can be viewed at www.sec.gov and
www.otcmarkets.com. Investors should not invest more than they
can afford to lose in penny stocks.
FOR MORE INFORMATION, CONTACT: Richard Surber President Green
Endeavors, Inc. 801-575-8073 x 106 Email Contact