Totally Green Reports Second Quarter 2013 Results

Totally Green Reports Second Quarter 2013 Results 
TORONTO, ON -- (Marketwired) -- 08/30/13 --  Totally Green Inc.
(PINKSHEETS: TLGN) ("TG" or the "Company"), an innovator in organic
food waste processing and diversion, reported results for the quarter
ended June 30th, 2013.  
Total revenue was $161,519 for the quarter ended June 30, 2013,
compared to $289,270 for the quarter ended June 30, 2012. ORCA
service fees were $78,920 for the second quarter, compared to $54,855
in the first quarter.  
Q2 2013 Operational Highlights 
The quarter was busy with install activity, as we installed 22 new
ORCA machines on the Service as a Solution model.  
Although primary focus has remained on the Toronto market, we feel
the timing was right for further expansion, and we successfully
launched operations in a major U.S. market in June. Initial results
look promising, and we are confident that this business model will be
replicable in many other markets. 
Management Commentary 
"I am pleased with the performance this quarter, and I'm particularly
pleased with our initial results in the U.S." said Shawn Dym, CEO of
Totally Green. "We expect our U.S. entry to start contributing more
significantly to new ORCA machine placements later this year. We also
hope to launch in one or two more large U.S. market before the end of
the year, which will primarily start to contribute to ORCA placements
in 2014." 
"We continue to see the effectiveness of the new operating model,
with ORCA service fees up nearly 45% over last quarter. The continued
strengthening of this recurring revenue will add long term value to
the business." 
About Totally Green
 Totally Green, Inc. develops and markets the
company's ORCA Green(TM) 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 www.totallygreen.com. 
Important Cautions Regarding Forward-Looking Statements
 This press
release contains "forward-looking statements." Forward-looki
ng
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.  


 
                                                                            
                                                                            
Totally Green, Inc.                                                         
Consolidated statement of operations                                        
(In US dollars)                                                             
                                               ---------------------------- 
                                                Three months ended June 30, 
                                                        2013           2012 
                                                 (unaudited)    (unaudited) 
                                               -------------  ------------- 
                                                           $              $ 
                                                                            
Sales                                                 82,599        253,925 
Service fees                                          78,920          2,000 
Other                                                      -         33,345 
                                               -------------  ------------- 
Gross sales                                          161,519        289,270 
Cost of goods sold                                    82,888        143,620 
                                               -------------  ------------- 
Gross profit                                          78,631        145,650 
                                               -------------  ------------- 
                                                                            
Operating expenses                                                          
  Selling and marketing                               73,633         18,382 
  General and administrative                         473,555        311,135 
  Amortization and depreciation                       22,747        153,181 
  Foreign exchange gain                               (5,384)             - 
  Interest expense                                    12,282         22,896 
                                               -------------  ------------- 
                                                     576,833        505,594 
                                               -------------  ------------- 
                                                                            
                                               -------------  ------------- 
Net loss                                            (498,202)      (359,944)
                                               =============  ============= 
                                                                            
                                                                            
                                                                            
                                                                            
Totally Green, Inc.                                                         
Consolidated balance sheet                                                  
(In US dollars)                                                             
                                                 ------------  ------------ 
                                                     June 30,  December 31, 
                                                         2013          2012 
                                                  (unaudited)     (audited) 
                                                 ------------  ------------ 
                                                            $             $ 
                                                                            
Assets                                                                      
Current assets                                                              
  Cash and cash equivalents                         3,078,758       733,411 
  Trade receivables, net                              115,119        60,723 
  Inventory                                             9,290        16,894 
  Temporary investments - restricted                   55,000        25,000 
  Other receivables       
                             79,534         4,754 
  Prepaid expenses and other current assets            30,984        16,166 
  Share subscription receivable                     1,400,000             - 
                                                 ------------  ------------ 
                                                    4,768,685       856,948 
                                                                            
Property and equipment                              1,219,920       426,204 
                                                 ------------  ------------ 
                                                    5,988,605     1,283,152 
                                                 ============  ============ 
                                                                            
Liabilities                                                                 
Current liabilities                                                         
  Trade payables and other accrued liabilities        360,837       167,740 
  Current portion of loans payable                    150,661             - 
  Deferred revenue                                      9,600             - 
  Other liabilities                                    46,281        40,817 
                                                 ------------  ------------ 
                                                      567,379       208,557 
Loans payable                                         139,066             - 
                                                 ------------  ------------ 
                                                      706,445       208,557 
                                                 ------------  ------------ 
                                                                            
                                                                            
Stockholders' equity                                                        
Common stock                                           20,888        13,825 
Preferred stock                                                             
  Series C                                                100            50 
  Series E                                                 12            12 
  Series F                                                  7             7 
Additional paid-in capital                                                  
  Common stock                                      6,801,570     6,308,633 
  Preferred stock - Series C                        8,999,900     4,499,950 
  Preferred stock - Series E                          700,603       700,603 
  Preferred stock - Series F                          233,535       233,535 
                                                 ------------  ------------ 
                                                   16,756,615    11,756,615 
Accumulated deficit                               (11,474,455)  (10,682,020)
                                                 ------------  ------------ 
                                                    5,282,160     1,074,595 
                                                 ------------  ------------ 
                                                    5,988,605     1,283,152 
                                                 ============  ============ 

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