Totally Green Inc. (PINKSHEETS: TLGN) ("TG" or the "Company"), an
innovator in organic food waste processing and diversion, reported
results for the quarter ended June 30th, 2013.
Total revenue was $161,519 for the quarter ended June 30, 2013,
compared to $289,270 for the quarter ended June 30, 2012. ORCA
service fees were $78,920 for the second quarter, compared to
$54,855 in the first quarter.
Q2 2013 Operational Highlights
The quarter was busy with install activity, as we installed 22
new ORCA machines on the Service as a Solution model.
Although primary focus has remained on the Toronto market, we
feel the timing was right for further expansion, and we
successfully launched operations in a major U.S. market in June.
Initial results look promising, and we are confident that this
business model will be replicable in many other markets.
Management Commentary
"I am pleased with the performance this quarter, and I'm
particularly pleased with our initial results in the U.S." said
Shawn Dym, CEO of Totally Green. "We expect our U.S. entry to start
contributing more significantly to new ORCA machine placements
later this year. We also hope to launch in one or two more large
U.S. market before the end of the year, which will primarily start
to contribute to ORCA placements in 2014."
"We continue to see the effectiveness of the new operating
model, with ORCA service fees up nearly 45% over last quarter. The
continued strengthening of this recurring revenue will add long
term value to the business."
About Totally Green Totally Green, Inc.
develops and markets the company's ORCA Green™ Machine. The ORCA
(Organic Refuse Conversion Alternative) machine allows for rapid
composting of most organic material in institutional and commercial
end-user applications, after which the liquid compost is disposed
of through the ordinary sewer system. The machine creates
meaningful cost savings for customers while diverting food waste
from landfills and reducing methane gas production. For more
information, please visit www.totallygreen.com.
Important Cautions Regarding Forward-Looking
Statements This press release contains "forward-looking
statements." Forward-looking statements are statements concerning
plans, objectives, goals, strategies, expectations, intentions,
projections, developments, future events, or performance,
underlying (expressed or implied) assumptions and other statements
that are other than historical facts. These forward-looking
statements are only predictions. No assurances can be given that
such predictions will prove correct. Actual events or results may
differ materially. Forward-looking statements should be read in
light of the cautionary statements and risks that include, but are
not limited to, the risks associated with a small company, our
comparatively limited financial resources, the uncertainty of
market trends, the competition faced from other current and future
technologies and the uncertainties of competitive pressures we
face. These or other risks could cause actual results to differ
materially from the future results indicated or implied in such
forward-looking statements. We undertake no obligation to update or
revise such statements.
Totally Green, Inc.
Consolidated statement of operations
(In US dollars)
----------------------------
Three months ended June 30,
2013 2012
(unaudited) (unaudited)
------------- -------------
$ $
Sales 82,599 253,925
Service fees 78,920 2,000
Other - 33,345
------------- -------------
Gross sales 161,519 289,270
Cost of goods sold 82,888 143,620
------------- -------------
Gross profit 78,631 145,650
------------- -------------
Operating expenses
Selling and marketing 73,633 18,382
General and administrative 473,555 311,135
Amortization and depreciation 22,747 153,181
Foreign exchange gain (5,384) -
Interest expense 12,282 22,896
------------- -------------
576,833 505,594
------------- -------------
------------- -------------
Net loss (498,202) (359,944)
============= =============
Totally Green, Inc.
Consolidated balance sheet
(In US dollars)
------------ ------------
June 30, December 31,
2013 2012
(unaudited) (audited)
------------ ------------
$ $
Assets
Current assets
Cash and cash equivalents 3,078,758 733,411
Trade receivables, net 115,119 60,723
Inventory 9,290 16,894
Temporary investments - restricted 55,000 25,000
Other receivables 79,534 4,754
Prepaid expenses and other current assets 30,984 16,166
Share subscription receivable 1,400,000 -
------------ ------------
4,768,685 856,948
Property and equipment 1,219,920 426,204
------------ ------------
5,988,605 1,283,152
============ ============
Liabilities
Current liabilities
Trade payables and other accrued liabilities 360,837 167,740
Current portion of loans payable 150,661 -
Deferred revenue 9,600 -
Other liabilities 46,281 40,817
------------ ------------
567,379 208,557
Loans payable 139,066 -
------------ ------------
706,445 208,557
------------ ------------
Stockholders' equity
Common stock 20,888 13,825
Preferred stock
Series C 100 50
Series E 12 12
Series F 7 7
Additional paid-in capital
Common stock 6,801,570 6,308,633
Preferred stock - Series C 8,999,900 4,499,950
Preferred stock - Series E 700,603 700,603
Preferred stock - Series F 233,535 233,535
------------ ------------
16,756,615 11,756,615
Accumulated deficit (11,474,455) (10,682,020)
------------ ------------
5,282,160 1,074,595
------------ ------------
5,988,605 1,283,152
============ ============
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Shawn Dym Chief Executive Officer Totally Green, Inc. Tel
416-221-9066
Ever Harvest (CE) (USOTC:TLGN)
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Ever Harvest (CE) (USOTC:TLGN)
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から 1 2024 まで 1 2025
