RenoWorks Software Inc.

TSX VENTURE : RW


RenoWorks Software Inc.

May 26, 2014 16:59 ET

RenoWorks Announces 2014 First Quarter Financial Results

CALGARY, ALBERTA--(Marketwired - May 26, 2014) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES.

RenoWorks Software Inc. (TSX VENTURE:RW), a leading provider of digital home imaging software and web solutions for new home construction and existing home renovations, today announced financial results for the first quarter ended March 31, 2014.

Financial results from operations for the first quarter 2013 with comparatives for 2012 are as follows:

Three Months Ended
March 31
2014 2013
Revenue $ 482,568 $ 437,577
Gross Margin $ 434,702 $ 322,310
Expenses $ 358,155 $ 329,692
Income $ 123,591 $ (16,630 )
Earnings (loss) per share $ 0.005 $ (0.001 )
Weighted Average Shares Outstanding 26,620,444 26,620,444
Cash from operations $ 6,759 $ 163,782

The Company's financial position as at March 31, 2014 and December 31, 2013 was as follows:

March 31,
2014
December 31,
2013
Cash Balance $ 173,498 $ 172,465
Working Capital $ 87,943 $ 12,429
Long term liabilities $ 383,289 $ 432,564
Shareholder's Deficiency $ (262,419 ) $ (388,035 )
Deficit $ (5,127,353 ) $ (5,250,944 )
Total Assets $ 456,120 $ 551,852

About RenoWorks Software Inc.:

RenoWorks Software Inc. develops and markets cutting edge visualization software and business growth tools for the remodeling and new home construction industries. RenoWorks software and web solutions use digital imaging to showcase interior and exterior building products on a picture of a customer's room, home, or blueprint. The software allows users to envision various 'before and after' design options using a database of actual manufacturer's products. For more information, visit www.renoworks.com, or call 403-296-3880.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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