SOURCE: B Green

November 14, 2011 15:45 ET

B Green Innovations September 30, 2011 Quarterly Report

MATAWAN, NJ--(Marketwire - Nov 14, 2011) - B Green Innovations, Inc., (OTCBB: BGNN) reported on Form 10-Q filing with the Securities and Exchange Commission, September 30, 2011.

Total sales increased $20,260 (46.1%) and $28,530 (20.0%), respectively, for the three and nine months ended September 30, 2011 to $64,173 and $171,527, respectively, as compared to $43,913 and $142,997 for the same periods in the prior year. For the three and nine months ended September 30, 2011 sales of our "green" products increased $16,751 (46.4%) and $30,405 (24.8%) to $52,823 and $153,167, respectively, as compared to $36,072 and $122,762 for the same periods in the prior year as a result of an increase in volume mostly attributed to the sale of the recently introduced oxo-biodegradable plastic bags which are scientifically proven to be non-toxic and are FDA compliant.

Gross profit increased $26,503 (122.6%) and $53,445 (72.2%) for the three and nine months ended September 30, 2011 to $48,129 and $127,485, respectively, as compared to $21,626 and $74,040 for the same periods in the prior year primarily as a result the increased volume of the "green" products and the cost savings by changing our out-sourced manufacturer. Gross profit for the three months ended September 30, 2011 was 75% as compared to 49.2% for the three months ended September 30, 2010. Gross profit for the nine months ended September 30, 2011 was 74.2% as compared to 51.8% for the nine months ended September 30, 2010. The higher gross profit is attributed to the lower costs associated with the green products.

Jerry Mahoney, President, Chief Executive Officer and Founder of B Green, commented, "We are proud to report these results, the Company is doing an excellent job of delivering great results. We look forward to continuing to deliver superior results throughout the rest of the year. Shareholders should read the complete details for the quarter and six months in the Company's Form 10-Q recently filed with the SEC."

About B Green Innovations
B Green Innovations, Inc. ("B Green"), "Go Green" mission from its inception, is to create a "Green" company for the development of solutions to eliminate waste from the world's environment. B Green offers consumers a realistic and necessary solution to the problem of waste around the world. We believe that to truly have an impact on the planet, one must be committed to the environment and seek out environmentally friendly products.

Certain information included in this press release, may contain forward-looking statements about our current and expected performance trends, growth plans, business goals and other matters. These statements may be contained in our filings with the Securities and Exchange Commission, in our press releases, in other written communications, and in oral statements made by or with the approval of one of our authorized officers. Information set forth in this press release contains various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Private Securities Litigation Reform Act of 1995 (the "Act") provides certain "safe harbor" provisions for forward-looking statements. The reader is cautioned that such forward-looking statements are based on information available at the time and/or management's good faith belief with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements. Forward-looking statements speak only as of the date the statement was made. We assume no obligation to update forward-looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information. Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "should," "will," and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.

http://www.bgreeninnovations.com/

Contact Information

  • Contact:
    Dolores Serafin
    732-696-9333