GRNE Reports $860,000 Increase in Shareholders' Equity During First Half of 2014
June 11 2014 - 8:30AM
Marketwired
GRNE Reports $860,000 Increase in Shareholders' Equity During First
Half of 2014
SALT LAKE CITY, UT--(Marketwired - Jun 11, 2014) - Green
Endeavors, Inc. (PINKSHEETS: GRNE), a majority owned subsidiary of
Nexia Holdings, Inc. (PINKSHEETS: NXHD), announces that efforts to
improve its financial condition have produced results.
GRNE has been working to improve its working capital position
and stockholders' equity through the reduction of debt and
convertible debt instruments into equity in the company during the
first and second quarters of 2014. Significant reductions of
convertible debt instruments during the first half of 2014
increased stockholders' equity by approximately $860,000 and the
working capital position of the Company has improved by
approximately $205,000. The debt reduction decreased total
liabilities by an estimated $860,000. This follows the report of
net income of $51,136 for the year ended December 31,
2013. For the year ended December 31, 2013 GRNE reported
revenues of $3,566,027.
Richard Surber, President and CEO of Green Endeavors, Inc.,
commented, "We continue to make significant strides in improving
the financial health of the Company. However, I am even more
excited to announce that I have hired two fantastic managers that I
am confident will produce significant results over the next 12
months. I expect them to be fully trained in the next few
months. In the history of our organization, I have not had
more capable managers. Their expertise will allow me the
bandwidth to focus on my expansion plans and public company
operations."
About Green Endeavors, Inc.: Green Endeavors, Inc. (PINKSHEETS:
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