Totally Green Reports Third Quarter 2013 Results

Totally Green Reports Third Quarter 2013 Results 
TORONTO, ON -- (Marketwired) -- 11/15/13 --  Totally Green, Inc.
(PINKSHEETS: TLGN) ("TG" or the "Company"), an innovator in organic
food waste processing and diversion, reported results for the quarter
ended September 30th, 2013. 
Total revenue was $168,092 for the quarter ended September 30, 2013,
compared to $45,914 for the quarter ended September 30, 2012. ORCA
service fees increased from $78,902 in the second quarter of 2013 to
$114,901 for the third quarter 2013. 
Q3 2013 Operational Highlights
 Q3 2013 continued to see substantial
growth activity, as we installed 10 new ORCA machines on the Service
as a Solution model. 
The majority of the activity and revenues to date have been generated
from the Toronto area, however we continue to deploy and shift
resources to better support our launch into the U.S. market and are
reviewing other possible U.S. locations for expansion. Initial
results continue to be positive, and we are confident that this
business model will be replicable in many other markets. 
Management Commentary
 "The results from the Quarter continue to
demonstrate the effectiveness of the operating model, as we have
seen, for the second straight quarter, increases of 45% over the
prior Quarter in ORCA service fees," said Shawn Dym, CEO of Totally
Green. "The U.S. entry will continue to contribute more significantly
to new ORCA machine placements, and ultimately our revenue base, as
we continue to build out our resources in the U.S. market. We
continue to identify other viable U.S. markets and look to launch in
additional large U.S. markets in the coming months." 
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-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. 


 
                                                                            
Totally Green, Inc.                                                         
Consolidated statement of operations                                        
(In US dollars)                                                             
                                                                            
                               Three months ended         Nine months ended 
                                    September 30,             September 30, 
                                2013         2012         2013         2012 
                         (unaudited)  (unaudited)  (unaudited)  (unaudited) 
                         -----------  -----------  -----------  ----------- 
                                   $            $            $            $ 
                                                                            
Sales                         53,191        9,431      337,763      289,433 
Service fees                 114,901        5,200      248,676        7,200 
Other                              -       31,283            -      197,026 
                         -----------  -----------  -----------  ----------- 
Gross sales                  168,092       45,914      586,439      493,659 
Cost of goods sold            59,213      169,100      258,042      401,889 
                         -----------  -----------  -----------  ----------- 
Gross profit                 108,879     (123,186)     328,397       91,770 
                         -----------  -----------  -----------  ----------- 
                                                                            
Operating expenses                                                          
  Selling and marketing       85,063      161,044      232,258      220,610 
  General and                                                               
   administrative            463,795      970,161    1,280,140    1,490,672 
  Amortization and                                                          
   depreciation               77,045      167,362      119,758      473,725 
  Foreign exchange loss        6,732        6,417          224        6,417 
  Interest expense            13,900       21,714       26,109       70,411 
                         -----------  -----------  -----------  ----------- 
                             646,535    1,326,698    1,658,489    2,261,835 
                         -----------  -----------  -----------  ----------- 
                                                                            
Other expenses                                                              
  Write-off of prepaid                                                      
   marketing fees                  -    1,121,910            -    1,121,910 
  Impairment of                                                             
   intangible assets               -      554,757            -      554,757 
                         -----------  -----------  -----------  ----------- 
                                   -    1,676,667            -    1,676,667 
                         -----------  -----------  -----------  ----------- 
                                                                            
                         -----------  -----------  -----------  ----------- 
Net loss                    (537,656)  (3,126,551)  (1,330,092)  (3,846,732)
                                                                            
                                                                            
                                                                            
Totally Green, Inc.                                                         
Consolidated balance sheet                                                  
(In US dollars)                                                             
                                                                            
                                               September 30,   December 31, 
                                                        2013           2012 
                                                 (unaudited)      (audited) 
                                               -------------  ------------- 
                                                           $              $ 
                                                                            
Assets                                                                      
Current assets                                                              
  Cash and cash equivalents                        3,444,261        733,411 
  Trade receivables, net                             127,733         60,723 
  Inventory                                           26,853         16,894 
  Temporary investments - restricted                  54,118         25,000 
  Prepaid expenses and other current assets           45,904         16,166 
  Other receivables                                  146,524          4,754 
                                               -------------  ------------- 
                                                   3,845,393        856,948 
                                                                            
Deferred commissions                                  86,597              - 
Property and equipment                             1,559,960        426,204 
                                               -------------  ------------- 
                                                   5,491,950      1,283,152 
                                               =============  ============= 
                                                                            
Liabilities                                                                 
Current liabilities                                                         
  Trade payables and other accrued liabilities       414,054        167,740 
  Current portion of loans payable                   139,380              - 
  Deferred revenues                                    6,000              - 
  Other liabilities                                   42,769         40,817 
                                               -------------  ------------- 
                                                     602,203        208,557 
                                                                            
Other liabilities                                      8,044              - 
Loans payable                                        100,569              - 
                                               -------------  ------------- 
                                                     710,816        208,557 
                                               -------------  ------------- 
                                                                            
                                                                            
Stockholders' equity                                                        
Common stock                                                                
  750,000,000 shares authorized                                             
  20,888,523 and 13,825,727 shares issued and                               
   outstanding as at September 30, 2013 and                                 
   December 31, 2012, respectively                    20,888         13,825 
Preferred stock                                                             
  Series C                                                                  
    100,000 and 50,000 shares authorized,                                   
     issued and outstanding as at September                                 
     30, 2013 and December 31, 2012,                                        
     respectively                                        100             50 
  Series E                                                                  
    12,000 shares authorized, issued and                                    
     outstanding as at September 30, 2013 and                               
     December 31, 2012                                    12             12 
  Series F                                                                  
    7,000 shares authorized, issued and                                     
     outstanding as at September 30, 2013 and                               
     December 31, 2012                                     7              7 
Additional paid-in capital                        16,772,239     11,742,721 
                                               -------------  ------------- 
                                                  16,793,246     11,756,615 
Accumulated deficit                              (12,012,112)   (10,682,020)
                                               -------------  ------------- 
                                                   4,781,134      1,074,595 
                                               -------------  ------------- 
                                                   5,491,950      1,283,152 
                                               =============  ============= 

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