SOURCE: Nexia Holdings, Inc.

Nexia Holdings, Inc.

December 12, 2014 08:30 ET

Nexia Reports Revenue of $3.4M and $1.1M for Nine and Three Months Ended September 30

SALT LAKE CITY, UT--(Marketwired - Dec 12, 2014) - Nexia Holdings, Inc. (OTC PINK: NXHD), parent company of Green Endeavors, Inc. (OTC PINK: GRNE), has filed with OTCMarkets its quarterly report for the three and nine months ended September 30, 2014 and 2013. Nexia is reporting revenue of $1,105,068 in the third quarter of 2014, a decrease of $54,641 or 4.7% less than the third quarter of 2013. For the nine months ended September 30, 2014, revenue was reported to be $3,428,588, an increase of $24,492 or 0.72% more than the first nine months of 2013.

The report also includes the following information:

  • For the nine months ended September 30, 2014, net income was $725,833; up from a loss of $156,000 for the comparable period in 2013. Net loss for the quarter was reported at $348,918. 
  • The revenue numbers reflect the continuing 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 fourth quarter by Lantern Fest http://www.thelanternfest.com and the third quarter by Slide the City™ http://www.slidethecity.com, show great promise for potentially 100's of events in 2015 via franchisees and directly by Slide the City, LLC.
  • Film related revenue for the quarter was $87,512 reflecting less activity during the third quarter, for the nine months ended September 30, 2014 film related revenue was $559,791.

Richard Surber, CEO of Nexia Holdings, Inc., commented, "Third quarter reflects substantial investment in worldwide trademark efforts, franchising, creating replicable systems, hiring and training, and scouting for additional salon locations. NXHD is set for record growth in 2015. I am very bullish on 2015."

About Nexia Holdings, Inc.:

Nexia Holdings, Inc. (OTC PINK: 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. (OTC PINK: 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.