SOURCE: Nexia Holdings, Inc.

Nexia Holdings, Inc.

August 04, 2014 08:30 ET

Nexia Reports Revenue of $1 Million for the First Quarter of 2014

SALT LAKE CITY, UT--(Marketwired - Aug 4, 2014) - Nexia Holdings, Inc. (PINKSHEETS: NXHD), parent company of Green Endeavors, Inc. (PINKSHEETS: GRNE), has filed with OTCMarkets its quarterly report for the three months ended March 31, 2014 and 2013 on July 29, 2014. Nexia is reporting revenue of $1,009,666 in the first quarter of 2014, down from $1,128,945 for the first quarter of 2013.

The report also includes the following information:

  • Net income for the quarter was reported at $917,213 primarily due to a gain of $1,000,000 on disposal of securities (a non-cash transaction).
  • The revenue numbers continue to reflect the solid performance of the Landis Lifestyle Salons that operate under Green Endeavors, Inc.
  • The Company's holdings in the entertainment industry, including the events held during the second quarter by both Lantern Fest http://www.thelanternfest.com and Slide the City™ http://www.slidethecity.com, show great promise for additional event, during the balance of 2014.
  • Film related revenue for the quarter was only $87,853 for the quarter due to a limited number of distribution contracts signed during the period.

Mr. Surber, CEO of Nexia Holdings Inc., commented, "We have many irons in the fire. I believe that first quarter results are just the tip of the iceberg. Revenues from our Lantern Fest and Slide the City™ events will not show until third quarter. I am excited to see what the remainder of the year holds for Nexia. The exposure alone should prove to be very beneficial for Nexia."

About Nexia Holdings, Inc.

Nexia Holdings, Inc. (PINKSHEETS: NXHD), headquartered in Salt Lake City, Utah, is a diversified holdings company with operations in entertainment, health & beauty, and real estate. Nexia owns a majority interest in Green Endeavors, Inc. (PINKSHEETS: GRNE), www.green-endeavors.com, which operates Landis Salons, Inc., Landis Salons II, Inc., and Landis Experience Center, LLC, www.landissalon.com, hair salons and hair product retail outlets built around the world-class AVEDA™ product line. Through WG Productions Company and Redline Entertainment, Inc., Nexia produces and distributes independent films for its own account and third parties. Learn more at www.nexiaholdings.com.

Nexia strongly encourages the public to read the above information in conjunction with its reports filed at www.otcmarkets.com. Nexia will require a significant influx of capital in order to effectively execute upon its various operational plans. The actual results that Nexia 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.