GRNE's 1st Quarter Form 10Q Filing Shows Marked Financial Improvements
August 28 2013 - 11:03AM
Marketwired
Green Endeavors, Inc. (PINKSHEETS: GRNE), a
majority owned subsidiary of Nexia Holdings, Inc. (PINKSHEETS:
NXHD), has filed its Form 10-Q for the period ended March 31, 2013
with the SEC.
The first quarter 2013 report shows improvements in the
operations of GRNE over the comparable period in 2012. During the
first quarter Green's net sales increased to $854,313, an increase
of $120,289 or 16.4% over the same period of 2012. This includes
$68,115 or a 12% growth in service revenues and an increase of
$54,174 or 28.9% in product revenues. During the first quarter of
2013 Green's operating expenses decreased compared to the first
quarter of 2012, which resulted in a reduction in our losses from
operations to $3,280 for the first quarter of 2013 quarter as
compared to a loss of $79,818 in the first quarter of 2012. Net
losses decreased to $93,924 for the 1st quarter in 2013 from
$309,168 for the comparable period in 2012.
Richard D. Surber, CEO of GRNE, stated, "We are teetering on
profitability at this point. I am bringing in the best trainers in
the industry to help bring focus to more effectively executing our
service wheel. We are really focusing on stylists' behavior to
improve our guests' experience. Revenues and net income will follow
an improved guest experience. We will be able retain more guests,
charge higher prices, and provide our guests with the tools
necessary to maintain their hair, skin, and body which will all
translate to higher service and product sales. Improved guest
experiences coupled with eliminating certain convertible debts that
have caused derivative liabilities and interest expenses will bring
us to net profits if we continue on our current growth trajectory.
I also expect to be current with our SEC filings within the next
few weeks after which we expect to maintain current status."
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, sell 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