RenoWorks Software Inc.

TSX VENTURE : RW


RenoWorks Software Inc.

November 29, 2012 18:33 ET

RenoWorks Announces September 30, 2012 Quarter End Financial Results

CALGARY, ALBERTA--(Marketwire - Nov. 29, 2012) -

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 exterior and interior home imaging software solutions for new home construction and existing home renovations, today announced financial results for the three months ended September 30, 2012.

Financial results from operations for the quarter and nine months ended September 30, 2012, with comparatives for 2011, are as follows:

Quarter ended September 30, 2012 Quarter ended September 30, 2011
Revenue $ 245,605 $ 307,030
Gross Margin 130,532 $ 191,880
Operating Expenses $ 263,497 $ 228,106
Net Loss $ (142,988 ) $ (44,647 )
Net Loss per share $ (0.005 ) $ (0.002 )
Weighted average shares outstanding 26,620,444 26,620,444
Nine Months ended September 30, 2012 Nine Months ended September 30, 2011
Revenue $ 931,252 $ 880,537
Gross Margin $ 572,730 $ 619,400
Operating Expenses $ 803,552 $ 764,099
Net Income (Loss) $ (258,857 ) $ (163,823 )
Net Income (Loss) per share $ 0.01 $ 0.006
Weighted average shares outstanding 26,620,444 26,620,444
Cash provided (used) by operations $ (10,189 ) $ (207,815 )

The Company's financial position as at September 30, 2012 and December 31, 2011 was as follows:

September 30, 2012 December 31, 2011
Cash balance $ 21,776 $ 50,458
Working capital $ (729,390 ) $ (461,606 )
Long term liabilities $ 108,835 $ 110,368
Shareholders' deficiency $ (794,854 ) $ (540,997 )
Deficit $ (5,657,013 ) $ (5,398,156 )
Total assets $ 329,992 $ 422,740
Deferred Revenue $ 527,358 $ 393,590

About RenoWorks Software Inc:

RenoWorks Software Inc. develops and markets cutting edge visualization software and integrated solutions 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.

Contact Information

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