Totally Green Reports 2013 Full Year Results
TORONTO, ON -- (Marketwired) -- 03/31/14 -- Totally Green, Inc.
(PINKSHEETS: TLGN) ("Totally Green" or the "Company"), an innovator
in organic food waste processing and diversion, reported results for
the full year ended December 31, 2013.
Total revenue was $879,997 for the year ended December 31, 2013,
compared to $461,774 for the year ended December 31, 2012. ORCA
service fees increased from $26,800 in Fiscal 2012 to $452,103 for
Fiscal 2013. The Company also reported a gross profit of $297,985 in
Fiscal 2013 compared to $101,691 in Fiscal 2012.
A copy of the complete audited financial statements is available for
download at http://www.otcmarkets.com/stock/TLGN/filings.
2013 Operational Highlights
2013 represented the first full year
since the adoption of the "Service as a Solution Model," a
significant change from the previous business model which saw the
machines being sold outright to customers all across North America.
The adoption of the new service model required a significant
investment of time and resources in order for management to ensure
that the Company is well positioned to build off the foundation
established in Fiscal 2013. Customers have responded positively to
the change and the Company ended 2013 with 51 machines installed on a
service basis as at December 31, 2013, which includes 4 machines
installed on a trial basis.
The majority of the activity and revenues to date have been generated
from the Toronto area; however, the Company continues to deploy and
shift resources to better support our launch into the U.S. market and
is reviewing other possible U.S. locations for expansion. Initial
results continue to be positive, and we remain confident that this
business model will be replicable in many other markets.
"Fiscal 2013 represented a significant year
for our business," said Shawn Dym, CEO of Totally Green. "We
developed significant relationships with current and prospective
customers nationally in the United States and Canada, with the aim of
securing contracts to roll out the ORCA solution across their
respective platforms in North America. These, as well as other sales
efforts, have been very promising and continue to reinforce the
Company's decision to adopt the Service as a Solution Model. We've
also made a number of improvements to the ORCA system, as well as our
overall service offering which will be rolled out in Fiscal 2014
which should further boost our sales efforts to date. We remain
committed to the business model and look forward to executing on the
foundation built in Fiscal 2013."
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
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.
Chief Executive Officer
Totally Green, Inc.
Press spacebar to pause and continue. Press esc to stop.