SALT LAKE CITY, UT--(Marketwired - Oct 6, 2014) - Nexia Holdings, Inc. (
The report also includes the following information:
- Net income for the quarter was reported at $149,121 which included $204,200 of debt forgiveness. For the six months ended June 30, 2014, net income was $1,066,334; up from a loss of $157,834 for the comparable period in 2013.
- Working capital deficit as of June 30, 2014 was reported at $2,332,373 which is an improvement of $355,160 or 13.2% from December 31, 2013.
- 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 first quarter by Lantern Fest http://www.thelanternfest.com and the third quarter by Slide the City™ http://www.slidethecity.com, show great promise for additional events over the next 15 months.
- Film related revenue for the quarter was $384,426 reflecting the growing presence of this segment for the Company's overall operations. For the six months ended June 30, 2014 film related revenue was $472,279 compared to $436,725 for the same period in 2013, a $35,554 increase.
Richard Surber, CEO of Nexia Holdings, Inc., stated, "I am very pleased with the progress Nexia is making. The reality is that we are finally in a place to make some serious progress. I believe that over the next 12 months my team will radically improve Nexia. I am feeling more optimistic about the future than I ever have. It is probable that we will as much as double the top line revenues by the end of 2015. I also expect a radical transformation of the balance sheet to include a substantial reduction in debt."
About Nexia Holdings, Inc.
Nexia Holdings, Inc. (
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.