RenoWorks Software Inc.
TSX VENTURE : RW

RenoWorks Software Inc.

November 24, 2006 07:00 ET

RenoWorks Announces September 30, 2006 Quarter End Financial Results

CALGARY, ALBERTA--(CCNMatthews - Nov. 24, 2006) - 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 nine months ended September 30, 2006, with comparatives for 2005, as follows:



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Three months ended Three months ended
Sept 30, 2006 Sept 30, 2005
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Revenue $184,703 $ 53,734
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Gross Margin $143,457 $ 50,471
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Expenses $168,125 $161,475
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Net Loss $ 29,326 $113,929
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Net Loss per share $ 0.002 $ 0.007
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Weighted average shares outstanding 17,620,444 15,569,381
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Cash used in operations $168,918 $140,930
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Nine months ended Nine months ended
Sept 30, 2006 Sept 30, 2005
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Revenue $309,237 $190,839
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Gross Margin $253,903 $179,967
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Expenses $397,974 $434,864
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Net Loss $152,809 $255,783
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Net Loss per share $ 0.009 $ 0.017
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Weighted average shares outstanding 17,546,779 14,754,771
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Cash used in operations $286,470 $169,243
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The Company's financial position as at September 30, 2006 and December 31,
2005 was as follows:


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September 30, 2006 December 31, 2005
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Cash balance $ 71,592 $ 79,854
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Working capital (deficiency) ($ 54,674) $ 32,689
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Long term liabilities $ 247,226 $ 272,842
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Shareholders deficiency $ 219,720 $ 166,911
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Deficit $4,298,176 $4,145,367
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Total assets $ 359,949 $ 202,932
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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 interior and exterior building products on a picture of the customer's home. The software enables users to envision a "before and after" digital image of the interior and exterior of the home using a database of manufacturer's products. The software offers homeowners, builders, remodeling professionals, building product manufacturers, suppliers and architects a cost-effective tool to help in project planning.

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Contact Information

  • RenoWorks Software Inc.
    Doug Vickerson
    CEO
    (403) 296-3880 x 227