RenoWorks Software Inc.
TSX VENTURE : RW

RenoWorks Software Inc.

August 25, 2005 16:01 ET

RenoWorks Announces June 30, 2005 Quarter End Financial Results

CALGARY, ALBERTA--(CCNMatthews - Aug. 25, 2005) - RenoWorks Software Inc. (TSX VENTURE:RW), a leading provider of digital exterior home imaging software for new home construction and existing home renovations, today announced financial results for the quarter and six months ended June 30, 2005, with comparatives for 2004, as follows:



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Three months ended Three months ended
June 30, 2005 June 30, 2004
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Revenue $48,901 $217,570
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Gross Margin $45,530 $154,200
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Expenses $124,023 $120,845
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Net Income (Loss) ($76,522) $34,774
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Net Income (Loss) per share ($0.006) $0.002
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Weighted average shares outstanding 14,480,251 14,480,251
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Cash used in operations $16,985 $141,943
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Six months ended Six months ended
June 30, 2005 June 30, 2004
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Revenue $137,105 $346,093
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Gross Margin $129,496 $251,625
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Expenses $273,389 $217,073
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Net Income (Loss) ($141,854) $26,552
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Net Income (Loss) per share ($0.01) $0.002
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Weighted average shares outstanding 14,480,251 13,108,666
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Cash used in operations $28,313 $116,152
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The Company's financial position as at June 30, 2005 and December 31,
2004 was as follows:

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June 30, 2005 December 31, 2004
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Cash balance $144,237 $80,890
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Working capital (deficiency) ($38,334) $93,498
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Long term liabilities $277,870 $272,505
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Shareholders deficiency $232,055 $97,701
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Deficit $3,960,011 $3,818,157
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Total assets $260,335 $255,186
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About RenoWorks

RenoWorks Software Inc. has developed a visualization sales tool for the new home construction and remodeling industries. RenoWorks "Picture the Difference" software uses digital imaging to showcase exterior building products on a picture of the customers home. The software enables dealer/contractors to provide a "before and after" digital image of the exterior of the home using a database of manufacturers products. Currently, RenoWorks has 25 manufacturers available on it's Product Download Site. The software offers new homebuilders, remodeling professionals, building product manufacturers, suppliers and architects a cost-effective tool to help generate sales.

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Contact Information

  • RenoWorks Software Inc.
    Greg Martineau
    CEO
    (403) 296-3880