SOURCE: Green Endeavors, Inc.
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.