SOURCE: Totally Green, Inc.

Totally Green, Inc.

June 14, 2013 08:00 ET

Totally Green Reports First Quarter 2013 Results

TORONTO--(Marketwired - Jun 14, 2013) - Totally Green Inc. (PINKSHEETS: TLGN) ("TG" or the "Company"), an innovator in organic food waste processing and diversion, reported results for the quarter and year ended March 31, 2013.

Total revenue was $247,453 for the quarter ended March 31, 2013, compared to $146,284 for the quarter ended March 31, 2012. The increase in revenue is a result of the sale of 5 ORCA machines under the previous "Unit Sales" model. These sales were contracted before the Company switched to a "Service as a Solution" model, in which the Company's revenue is based on monthly service fees and not sales. ORCA service fees were $54,855 for the first quarter, compared to $19,600 in the fourth quarter of last year.

Q1 2013 Operational Highlights

We installed 12 units during the quarter as we took shipment of the recently improved ORCA machines and we signed 17 new customers to trials.

The Company has continued to focus on the Toronto market as we refine our processes to serve customers under the Service as a Solution model before expanding across North America.

Management Commentary

"I am confident that we now have the infrastructure in place that is required to enable the growth of our business model into other cities," said Shawn Dym, CEO of Totally Green. "We expect to build on the momentum we have created in Toronto, and launch in a major U.S. market by the end of Q2."

"We continue to be pleased with our new operating model, with ORCA service fees up 180% over last quarter. We feel this is a strong sign of customers being receptive to our offering, and we continue to expect robust growth of ORCA service fees as we expand into new markets."

About Totally Green
Totally Green, Inc. develops and markets the company's ORCA Green™ Machine. The ORCA (Organic Refuse Conversion Alternative) machine allows for rapid composting of most organic material in institutional and commercial end-user applications, after which the liquid compost is disposed of through the ordinary sewer system. The machine creates meaningful cost savings for customers while diverting food waste from landfills and reducing methane gas production. For more information, please visit

Important Cautions Regarding Forward-Looking Statements
This press release contains "forward-looking statements." Forward-looking statements are statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. These forward-looking statements are only predictions. No assurances can be given that such predictions will prove correct. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, our comparatively limited financial resources, the uncertainty of market trends, the competition faced from other current and future technologies and the uncertainties of competitive pressures we face. These or other risks could cause actual results to differ materially from the future results indicated or implied in such forward-looking statements. We undertake no obligation to update or revise such statements.

    March 31, 2013   December 31, 2012
    Unaudited   Audited
CURRENT ASSETS            
  Cash & Cash Equivalents     148,330     733,411
  Temporary Investments - Restricted     25,000     25,000
  Trade Accounts Receivable, net     195,981     60,723
  Deposits     35,250     -
  Accounts Receivable - Other     40,255     4,754
  Prepaid Expenses     6,046     16,166
  Inventory     14,948     16,894
Total Current Assets     465,810     856,948
  Property and Equipment     566,496     426,204
Property and Equipment, net     566,496     426,204
TOTAL ASSETS   $ 1,032,306   $ 1,283,152
    Jan - Mar 31, 2013   December 31,2012
    Unaudited   Audited
Current Liabilities            
  Accounts Payable     206,794     167,740
  Other Liabilities     45,150     40,817
Total Current Liabilities     251,944     208,557
Total Liabilities     251,944     208,557
  Common Stock - $0.001 Par Value, 750,000,000 shares authorized 13,825,727 and 13,825,727 shares issued and outstanding at December 31, 2012     13,825     13,825
  Preferred Stock:            
    Series C - $0.001 Par Value 50,000 sharesauthorized, issued and outstanding     50     50
    Series E - $0.001 Par Value 12,000 sharesauthorized, issued and outstanding     12     12
    Series F - $0.001 Par Value 7,000 sharesauthorized, issued and outstanding     7     7
  Additional Paid in Capital:            
  Common Stock     6,308,633     6,308,633
    Preferred Stock - Series C     4,499,950     4,499,950
    Preferred Stock - Series E     700,603     700,603
    Preferred Stock - Series F     233,535     233,535
Total Paid in Capital     11,756,615     11,756,615
Retained Earnings ( Deficit)     -10,976,253     - 10,682,020
Total Equity     780,362     1,074,595
TOTAL LIABILITIES and EQUITY   $ 1,032,306   $ 1,283,152
  Jan - Mar 2013 (Unaudited)   Jan - Mar 2012 (Unaudited)
Net Sales 192,598   146,284
ORCA Service Fees 54,855   -
Total Sales 247,453   146,284
Cost of Goods Sold 112,583   87,890
Gross Profit 134,870   58,394
Other Income 5,816   -
Operating Expenses      
  Selling, general and administrative expenses 436,116   525,228
Total Operating Expenses 436,116   525,228
Operating Loss - 295,430   - 466,834
Other Incomes /(Expenses)      
  Other Income 1,197   132,398
  Interest Expense -   - 25,801
Total Other Income / (Expense) 1,197   106,597
Net Loss Attributable to Common Stockholders -$ 294,233   -$ 360,237

Contact Information

  • Shawn Dym
    Chief Executive Officer
    Totally Green, Inc.
    Tel 416-221-9066