Totally Green Inc. (PINKSHEETS: TLGN) ("TG" or the "Company"), an
innovator in organic food waste processing and diversion, reported
results for the quarter and year ended March 31, 2013.
Total revenue was $247,453 for the quarter ended March 31, 2013,
compared to $146,284 for the quarter ended March 31, 2012. The
increase in revenue is a result of the sale of 5 ORCA machines
under the previous "Unit Sales" model. These sales were contracted
before the Company switched to a "Service as a Solution" model, in
which the Company's revenue is based on monthly service fees and
not sales. ORCA service fees were $54,855 for the first quarter,
compared to $19,600 in the fourth quarter of last year.
Q1 2013 Operational Highlights
We installed 12 units during the quarter as we took shipment of
the recently improved ORCA machines and we signed 17 new customers
to trials.
The Company has continued to focus on the Toronto market as we
refine our processes to serve customers under the Service as a
Solution model before expanding across North America.
Management Commentary
"I am confident that we now have the infrastructure in place
that is required to enable the growth of our business model into
other cities," said Shawn Dym, CEO of Totally Green. "We expect to
build on the momentum we have created in Toronto, and launch in a
major U.S. market by the end of Q2."
"We continue to be pleased with our new operating model, with
ORCA service fees up 180% over last quarter. We feel this is a
strong sign of customers being receptive to our offering, and we
continue to expect robust growth of ORCA service fees as we expand
into new markets."
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.
BALANCE SHEETS
December 31,
March 31, 2013 2012
Unaudited Audited
---------------- ----------------
ASSETS
CURRENT ASSETS
Cash & Cash Equivalents 148,330 733,411
Temporary Investments - Restricted 25,000 25,000
Trade Accounts Receivable, net 195,981 60,723
Deposits 35,250 -
Accounts Receivable - Other 40,255 4,754
Prepaid Expenses 6,046 16,166
Inventory 14,948 16,894
---------------- ----------------
Total Current Assets 465,810 856,948
---------------- ----------------
PROPERTY & EQUIPMENT
Property and Equipment 566,496 426,204
---------------- ----------------
Property and Equipment, net 566,496 426,204
---------------- ----------------
---------------- ----------------
TOTAL ASSETS $ 1,032,306 $ 1,283,152
================ ================
Jan - Mar 31,
2013 December 31,2012
Unaudited Audited
---------------- ----------------
LIABILITIES AND EQUITY
Current Liabilities
Accounts Payable 206,794 167,740
Other Liabilities 45,150 40,817
---------------- ----------------
Total Current Liabilities 251,944 208,557
---------------- ----------------
---------------- ----------------
Total Liabilities 251,944 208,557
---------------- ----------------
EQUITY
Common Stock - $0.001 Par Value,
750,000,000 shares authorized
13,825,727 and 13,825,727 shares issued
and outstanding at December 31, 2012 13,825 13,825
Preferred Stock:
Series C - $0.001 Par Value 50,000
sharesauthorized, issued and
outstanding 50 50
Series E - $0.001 Par Value 12,000
sharesauthorized, issued and
outstanding 12 12
Series F - $0.001 Par Value 7,000
sharesauthorized, issued and
outstanding 7 7
Additional Paid in Capital:
Common Stock 6,308,633 6,308,633
Preferred Stock - Series C 4,499,950 4,499,950
Preferred Stock - Series E 700,603 700,603
Preferred Stock - Series F 233,535 233,535
---------------- ----------------
Total Paid in Capital 11,756,615 11,756,615
Retained Earnings ( Deficit) -10,976,253 - 10,682,020
---------------- ----------------
Total Equity 780,362 1,074,595
---------------- ----------------
TOTAL LIABILITIES and EQUITY $ 1,032,306 $ 1,283,152
================ ================
TOTALLY GREEN INC.
STATEMENT OF OPERATIONS
Jan - Mar 2013 Jan - Mar 2012
(Unaudited) (Unaudited)
--------------- ---------------
Net Sales 192,598 146,284
ORCA Service Fees 54,855 -
--------------- ---------------
Total Sales 247,453 146,284
Cost of Goods Sold 112,583 87,890
--------------- ---------------
Gross Profit 134,870 58,394
Other Income 5,816 -
Operating Expenses
Selling, general and administrative
expenses 436,116 525,228
--------------- ---------------
Total Operating Expenses 436,116 525,228
--------------- ---------------
Operating Loss - 295,430 - 466,834
--------------- ---------------
Other Incomes /(Expenses)
Other Income 1,197 132,398
Interest Expense - - 25,801
--------------- ---------------
Total Other Income / (Expense) 1,197 106,597
--------------- ---------------
Net Loss Attributable to Common Stockholders -$ 294,233 -$ 360,237
=============== ===============
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Shawn Dym Chief Executive Officer Totally Green, Inc. Tel
416-221-9066
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