SOURCE: Green Endeavors, Inc.

Green Endeavors, Inc.

April 07, 2015 17:00 ET

GRNE Files Form 10K: Reporting $3.2 in Revenues and Significant Improvements to Its Balance Sheet

SALT LAKE CITY, UT--(Marketwired - Apr 7, 2015) - Green Endeavors, Inc. (PINKSHEETS: GRNE) announces the filing of its audited financials on Form 10K for the period ended December 31, 2014.

Some of the positive results in the report include:

  • A $727,893 or 18% decrease in liabilities
  • A $292,657 or a 31% improvement in working capital
  • A $684,433 or 21% improvement in stockholders' equity

Other Results:

  • $3,194,052 revenues compared to $3,566,027 in 2013
  • $79,037 net loss compared to $51,136 net income in 2013

The significant improvements to our balance sheet are the highlight of our 2014 annual results. However, 2014 was the first year in some time that we saw a dip in top line revenues. The drop was the result of not being able to hire enough staff to service all of our guests. We have been devoting significant resources to ensure that we are fully staffed moving forward. In addition, we have improved our compensation package to benefit high performing stylists, as well as increasing our hourly pay by a dollar an hour for new hires. These increases were accompanied by a system wide price increase that went into effect January 1, 2015.

CEO, Richard Surber, commented, "The steps we took in 2014 will pay dividends over the long haul. We strengthened our balance, improved our recruiting efforts, revamped out compensation schedule, and retooled our pricing. The changes we made in 2014 were a stepping stone for improvements to come in 2015 and beyond. I am happy with the progress we made in 2014."

Mr. Surber, continued, "I am very optimistic that in 2015 we will add additional salon locations either through acquisition or building them from the ground up which will significantly improve our revenues."

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., Landis Salons II, Inc., and Landis Experience Center LLC, http://www.landissalon.com, operate hair salons built around the world-class AVEDA product line. For more information, visit http://www.green-endeavors.com. The numbers are audited and have been reviewed by an independent accountant. GRNE strongly encourages the public to read the above information in conjunction with its filings and disclosures filed in 2014 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.

Contact Information

  • FOR MORE INFORMATION, CONTACT:
    Richard Surber
    President
    Green Endeavors, Inc.
    801-575-8073 x 106
    Email Contact