RenoWorks Software Inc.
TSX VENTURE : RW

RenoWorks Software Inc.

November 28, 2007 10:12 ET

RenoWorks Announces September 30, 2007 Quarter End Financial Results

CALGARY, ALBERTA--(Marketwire - Nov. 28, 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 nine months ended Sept 30, 2007, with comparatives for 2006, as follows:



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Three months ended Three months ended
Sept 30, 2007 Sept 30, 2006
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Revenue $ 106,495 $ 184,703
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Gross Margin $ 75,652 $ 143,457
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Expenses $ 324,869 $ 168,125
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Net Loss $ 259,074 $ 29,326
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Net Loss per share $ 0.015 $ 0.002
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Weighted average shares outstanding 17,620,444 17,620,444
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Cash used in operations $ 211,666 $ 168,918
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Nine months ended Nine months ended
Sept 30, 2007 Sept 30, 2006
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Revenue $ 875,615 $ 309,237
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Gross Margin $ 620,247 $ 253,903
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Expenses $ 836,089 $ 397,974
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Net Loss $ 242,968 $ 152,809
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Net Loss per share $ 0.014 $ 0.009
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Weighted average shares outstanding 17,620,444 17,546,779
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Cash used in operations $ 77,741 $ 286,470
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The Company's financial position as at September 30, 2007 and December 31,
2006 was as follows:

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Sept 30, 2007 December 31, 2006
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Cash balance $ 107,613 $ 241,725
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Working capital (deficiency) $ (42,667) $ 143,775
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Long term liabilities $ 303,157 $ 246,849
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Shareholders deficiency $ 271,436 $ 28,468
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Deficit $4,387,833 $4,144,865
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Total assets $ 343,730 $ 360,878
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The Company also announces that is has granted options to acquire an aggregate of 230,000 common shares at an exercise price of $0.11 per share to employees and contractors, of which 75,000 were granted to an officer of the Company. These options expire November 27, 2012 and are governed by the Company's Stock Option Plan.

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