|By Marketwired .||
|August 28, 2013 12:04 PM EDT||
SALT LAKE CITY, UT -- (Marketwired) -- 08/28/13 -- 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:
Green Endeavors, Inc.
801-575-8073 x 106