|By Marketwired .||
|July 29, 2014 12:06 PM EDT||
SALT LAKE CITY, UT -- (Marketwired) -- 07/29/14 -- Nexia Holdings, Inc. (PINKSHEETS: NXHD), parent company of Green Endeavors, Inc. (PINKSHEETS: GRNE), has filed with OTCMarkets its annual report for the years ended December 31, 2013 and 2012 on July 25, 2014. Nexia is reporting solid revenue growth in 2013 over 2012 of 6.7% or $284,741 for total gross revenues for the year ended December 31, 2013 of $4.5 million.
Other positive results from the report include:
- Net income for 2013 was reported at $977,712 primarily due to a gain on disposal of securities (a non-cash item) and a decrease in our losses from operations of $281,900 reflecting management's efforts to control expenses at every level.
- The revenue numbers reflect the solid performance of the Landis Lifestyle Salons that operate under Green Endeavors, Inc. (PINKSHEETS: GRNE) and the growth of the Company's consulting services.
- The Company's holdings in the entertainment industry, including the recently concluded events by both Lantern Fest http://www.thelanternfest.com and Slide the City http://www.slidethecity.com, show real potential for continuing growth through expansion of the Company's operations and resulting revenues.
- Film related revenue for the year 2013 was almost $800,000.
Mr. Surber, CEO of Nexia Holdings Inc., observed, "We are setting the table for future growth. NXHD has discontinued or sold off unproductive operations, disposed of liabilities, started new lines of businesses, increased revenues, and redeemed various classes of securities. We will have current information on the OTC Markets within the week. The process has been long and hard. I expect the improvements to continue and accelerate in the coming months."
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.