Green Endeavors Gross Revenues Top $2M for 2009
Green Endeavors, Ltd.
(PINKSHEETS: GRNE), a
majority owned subsidiary of Nexia Holdings, Inc. (PINKSHEETS:
NXHDD), announced that its salon operations estimated net sales for
the year ended December 31, 2009 were $2,044,351. Combined net
income for the salon entities, which includes Landis Salons, Inc.
and Newby Salons LLC, for the year ended December 31, 2009, is
currently estimated at $162,419 compared to $38,577 for year end
2008, an increase of 321% or $123,842. This increase was the result
of the reduction in various expenses related to the salon
operations from 2008 to 2009.
GRNE's flagship salon located at 1298 South 900 East in Salt
Lake City, Utah reported net sales of $1,880,545 for the 2009 year
as compared to net sales of $1,843,963 for 2008, a 2% or $36,582
increase. While revenues for both locations on a combined basis
decreased by $83,494 or 4% in 2009 compared to sales of $2,127,845
for the year ended December 31, 2008, the number of services at the
Salt Lake City Salon increased by 1,557 in 2009. The reason for the
decrease in sales is attributable to its Bountiful location, which
management considers an underperforming location.
Despite the underperforming location, our salon operations were
able to improve net income and increase the total number of
services provided substantially at our flagship location while
decreasing our price point per service to accommodate for a
sluggish economy. Mr. Richard Surber, President of GRNE, commented,
"Our research has indicated that over 2,000 salons have closed over
the last two years which our organization intends to capitalize on
in the future by hopefully attracting new clients from those salons
that have closed. We are continuing our efforts to staff up in
anticipation of opening additional locations in the Salt Lake
Mr. Surber further commented, "I have identified an additional
or alternative location which we anticipate opening prior to the
2010 Holiday season. This new location may replace the
underperforming Bountiful location, in the event we are unable to
make substantial improvements in sales at that location prior to
June 30. More details on the potential new location will be forth
coming in the weeks ahead."
About Green Endeavors, Ltd.
Green Endeavors, Ltd. (PINKSHEETS: GRNE), headquartered in Salt
Lake City, Utah, is a holding company with operations in health
& beauty. GRNE owns a majority interest in Landis Salons, Inc.,
http://www.landissalons.net, hair salons built around the
world-class AVEDA™ product line. For more information, visit
GRNE strongly encourages the public to read the above
information in conjunction with its filings and disclosures filed
in 2009 and 2010. GRNE's disclosures can be viewed at
www.green-endeavors.com and www.pinksheets.com.
This press release reports information gathered on a preliminary
basis for select points in time. The numbers are not audited, have
not been reviewed by an independent accountant, and are subject to
change and further review as more information is gathered. This
press release also contains forward-looking statements. There are
no assurances that such assumptions will prove correct with regard
to potential additional location(s). The actual results that GRNE
may achieve could differ materially from any forward-looking
statements due to such risks and uncertainties. Investors should
not invest more than they can afford to lose in penny stocks.
FOR MORE INFORMATION, CONTACT: Richard Surber, President Green
Endeavors, Ltd. 801-575-8073 x 106 Email Contact