GRNE Reports Revenues of $2.49M at 9/30/16, a 13.4% Increase & $2.19M Debt Reduction
(firmenpresse) - SALT LAKE CITY, UT -- (Marketwired) -- 11/07/16 -- (OTC PINK: GRNE), a majority owned subsidiary of (OTC PINK: SAKL) has filed its Form 10Q for the period ended September 30, 2016, reporting continued improvements to revenue, operating income, net income, and shareholder equity.
Revenues for the three and nine months ended September 30, 2016 were $832,507 and $2,488,762 respectively, compared to $733,642 and $2,193,790 for the same periods in 2015; a 13.5% and 13.4% improvement. Net losses for the three and nine months ended September 30, 2016 were $151,268 and $274,085 respectively, compared to $161,494 and $794,018 for the same periods in 2015; a 6.3% and 65.5% improvement.
GRNE also eliminated $2,190,896 of convertible debt, improving stockholders'' deficit by $2,029,455 compared to December 31, 2015.
Richard D. Surber, CEO of GRNE, commented, "The elimination of the $2.19M in debt has not only transformed the balance sheet but will decrease interest expense in the future by nearly $180,000 annually. This improves profitability in the final quarter of 2016 and well into the future. We also expect continued operational improvements moving forward and believe we are positioned to execute on our plans to expand through the acquisition of other high end multi-location salons."
Green Endeavors, Inc. (OTC PINK: GRNE), headquartered in Salt Lake City, Utah, is a holding company with operations in health & beauty. GRNE''s wholly owned subsidiaries, Landis Salons, Inc., Landis Salons II, Inc., and Landis Experience Center LLC, ; operate hair salons built around the world-class AVEDA™ product line. For more information, visit . The numbers are not audited. GRNE strongly encourages the public to read the above information in conjunction with its filings and disclosures filed in 2016 and 2015. GRNE''s disclosures can be viewed at and . Investors should not invest more than they can afford to lose in penny stocks.
Richard Surber
President
Green Endeavors, Inc.
801-575-8073 x 111
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Datum: 07.11.2016 - 07:00 Uhr
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