RenoWorks Software Inc.
TSX VENTURE : RW

RenoWorks Software Inc.

August 24, 2007 10:41 ET

RenoWorks Announces June 30, 2007 Quarter End Financial Results

CALGARY, ALBERTA--(Marketwire - Aug. 24, 2007) - 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, 2007, with comparatives for 2006, as follows:



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Three months ended Three months ended
June 30, 2007 June 30, 2006
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Revenue $ 405,998 $ 60,647
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Gross Margin $ 289,580 $ 49,609
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Expenses $ 286,574 $ 131,210
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Net Loss $ 11,543 $ 84,573
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Net Loss per share $ 0.001 $ 0.01
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Weighted average shares outstanding 17,620,444 17,453,778
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Cash from (used in) operations $ 84,967 $ (70,207)
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Six months ended Six months ended
June 30, 2007 June 30, 2006
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Revenue $ 769,120 $ 124,534
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Gross Margin $ 544,595 $ 110,446
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Expenses $ 511,220 $ 229,849
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Net Income (Loss) $ 16,106 $ (123,483)
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Net Income (Loss) per share $ 0.001 $ (0.01)
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Weighted average shares outstanding 17,620,444 16,699,635
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Cash from (used in) operations $ 133,925 $ (117,552)
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The Company's financial position as at June 30, 2007 and December 31, 2006
was as follows:

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June 30, 2007 December 31, 2006
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Cash balance $ 335,806 $ 241,725
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Working capital $ 241,396 $ 143,775
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Long term liabilities $ 330,295 $ 246,849
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Shareholders deficiency $ 12,362 $ 28,468
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Deficit $4,128,759 $4,144,865
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Total assets $ 528,443 $ 360,878
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About RenoWorks

RenoWorks Software Inc. develops and markets visualization sales tools for the new home construction and remodeling industries. RenoWorks "Picture the Difference" 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 enables users to envision multiple "before and after" design options using a database of actual manufacturer's products. The software offers home owners, builders, remodeling professionals, building product manufacturers, suppliers and architects a cost-effective tool to help in project planning and sales.

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

Contact Information

  • RenoWorks Software Inc.
    Doug Vickerson
    CEO
    (403) 296-3880 x227