Totally Green, Inc. (PINKSHEETS: TLGN), a
pioneer in organic food processing systems and compostable
packaging alternatives, reported results for the fourth quarter and
full year ended December 31, 2011.
Q4 2011 Operational Highlights
- Installed two revolutionary ORCA Green™ Machines at the U.S.
Army base in Fort Hood, Texas. Building upon sales to U.S. Coast
Guard and other government installations, this installation
represents a ground-floor opportunity for further adoption at Fort
Hood as well as by the U.S. Army overall.
- ORCA Green Machines trial program achieves 100% sales
conversion rate of pilot-to-sales during the quarter, versus
overall 90% conversion rate since initial product roll-out in Q3 of
2010.
- Introduced a redesigned Ingeo™ Green Bottle Spring Water bottle
and label.
- Partnered with Air Cycle, a premier provider of recycling
solutions, and Sodexo, the leading provider of integrated food and
facilities management services in the U.S. and Canada.
- Presented at Merriman Capital's Investor Summit 2012.
- New ORCA Green Machine installations totaled five machines for
the fourth quarter.
Full Year 2011 Operational Highlights
- Installed 31 revolutionary ORCA Green Machines versus two in
2010 (first year of product roll-out).
- Expanded the ORCA Green Machine into several new markets,
including the convention center, hospital, hotel, cruise line,
retail grocery, supermarket chains, university, U.S. government,
and wholesale clubs market. Some of these installations are
attributed to successful pilot trails, and were followed by further
market penetration.
- Totally Green's Ingeo Green Bottle Spring Water qualified for
the U.S. Department of Agriculture's (USDA) Certified Biobased
Product label, as well as initiated a Direct-to-Business
distribution agreement.
- Appointed former U.S. Department of Agriculture Official, Boyd
K. Rutherford, as a strategic advisor.
Full Year 2011 Financial Results Revenue
in 2011 was $822,000, up 508% from $135,000 a year ago, as the
company emerges from its development stage to initial commercial
sales. The increase in revenue was primarily due to improving sales
and market penetration of the company's ORCA Green Machine, as well
as an increasing amount of recurring supply-related revenue.
Gross profit in 2011 was $299,000 or 36.4% of revenue, as
compared to gross profit of $19,000 or 14.1% of revenue a year
ago.
Net loss in 2011 was $1.9 million, as compared to a net loss of
$909,000 a year ago. The 2011 net loss included depreciation and
amortization costs of $632,000, versus $244,000 a year ago.
Cash and cash equivalents at December 31, 2011 totaled $100,000,
versus $18,000 at December 31, 2010.
Management Commentary "2011 was a
milestone year for Totally Green, highlighted by a dramatic
increase in revenue and new installations, as we continued the
roll-out of our revolutionary ORCA Green Machine and Green Bottle
Spring Water," said Nate Baker, president and interim CFO of
Totally Green. "Our pilot-trial program for the ORCA Green Machine
led to a number of key wins, including one of the nation's largest
wholesale clubs. We also experienced greater traction in our
convention center, government, hospital and university
verticals.
"2012 is already setting up as another strong year, as we
leverage broad market penetration we achieved in 2011 and benefit
from newly-formed partnerships. We experienced a minor delay with
the ETL certification approval for the ORCA Green Machine, which
will help increase our sales opportunities, but we expect approval
in the beginning of Q2 2012. Our initial timeline for 2012 had
included conducting an investor update call mid-Q1 2012. However,
we've rescheduled this for early Q2 due to timing around a new
major partnership that could transform Totally Green, including a
new business model which would allow us to better address the
market for the ORCA Green Machine.
"In line with our previously announced plan to become a fully
reporting company with the SEC, we are in the process of completing
an independent audit of our 2011 financial statements. The
unaudited 2011 financials will be available on our website starting
today and we expect to release the audited numbers within 45 days.
We anticipate our first SEC filings will be completed in the first
half of 2012, and for this to coincide with our up-listing to the
OTCQX stock exchange.
"After engaging Merriman Capital to help us with the OTCQX
listing, we participated in their 2012 Investor Summit in February
that was held in New York City. At the summit, we introduced the
Totally Green story to more than 50 institutional funds during our
presentation and one-on-one meetings. Merriman Capital will
continue to advise Totally Green on investment banking and listing
strategies over the next 6-12 months as we execute on our
up-listing plans.
"We look forward to providing a more comprehensive report on new
partnerships and customer wins in the upcoming weeks, and
appreciate the support of our shareholders as we transition from a
developmental stage company to full commercialization with our ORCA
Green Machine and Green Bottle Spring Water."
Q1 2012 Events-to-date and 2012 Outlook
For the first quarter of 2012, the company recorded multiple sales
wins and test pilots in each of the target verticals it established
in 2011:
- The Marine Corps Air Ground Combat Center at Twentynine Palms,
California recently installed its first ORCA Green Machine. The
installation is serving as a test pilot not only for additional
installations on this base, but also for wider potential adoption
by the U.S. Dept. of Defense for other military bases and the
Pentagon.
- Lowes Improvement Center of Albuquerque, New Mexico recently
purchased their first ORCA Green Machine to process food-based
organic wastes produced by more than 600 employees at its new
customer support center.
- Costco Wholesale purchased its second ORCA Green Machine for
use in its Houston, Texas warehouse.
- AFLAC recently purchased an ORCA Green Machine for its
corporate headquarters in Columbus, Georgia to support its
SmartGreen philosophy. With more than 8,200 employees worldwide,
the installation supports AFLAC's mission to find innovative ways
to reduce its environmental impact.
- Reasor's grocery chain has slated two additional locations for
deployment of an ORCA Green Machine. The chain has 15 locations and
two convenience stores that employ nearly 3,000 people across
Northeastern Oklahoma.
- Royal Caribbean Cruises recently purchased two ORCA Green
Machines after a successful six-month test pilot trial on a cruise
ship based out of Miami, Florida. With 42 ships in service and
several more under construction, Royal Caribbean controls 24% share
of the world cruise market.
Totally Green has entered the Canadian marketplace with purchase
agreements with key Canadian companies that are similar target
markets as in the United States. For competitive reasons, the
company has not disclosed which specific companies made the
purchase or test pilot study.
About Totally Green Totally Green, Inc.
develops, manufactures, and markets the company's ORCA Green™
Machine and markets the Ingeo™ Green Bottle Spring Water. 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 either
returned to the soil as nourishment or 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. Both products offer businesses and
consumers innovative and affordable solutions for food &
beverage by-product disposal. 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. All statements relating to the
Company's plans to upgrade its listing to OTCQX, to becoming a
reporting company, and other plans are subject to risks and
uncertainties beyond the Company's control. 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.
CONDENSED BALANCE SHEETS
ASSETS
December 31, December 31,
2011 2010
(Unaudited)
------------ ------------
Current Assets
Cash & Cash Equivalents 99,816 17,538
Temporary Investments - Restricted 25,000 25,000
Trade Accounts Receivable, net 116,157 700
Accounts receivable - Other 94,880 5,000
Prepaid Expenses 350,000 12,641
Inventory 222,825 130,816
------------ ------------
Total Current Assets 908,678 191,695
------------ ------------
Property and Equipment
Machinery and Equipment 45,400 38,640
Accumulated Depreciation (9,245) (2,760)
------------ ------------
Property and Equipment, net 36,155 35,880
------------ ------------
Intangible Assets, net 659,616 774,827
Prepaid Marketing Fees 1,050,050 -
Other Assets 13,527 13,527
Discontinued Operations - Assets 497,058 681,167
------------ ------------
Total Assets 3,165,084 1,697,096
============ ============
TOTALLY GREEN, INC.
CONDENSED BALANCE SHEETS
LIABILITIES AND EQUITY
December 31, December 31,
2011 2010
(Unaudited)
------------ ------------
Current Liabilities
Accounts Payable 191,219 172,014
Sales Tax Payable 1,751 -
Customer Deposits - 27,962
Dividends Payable 105,500 48,000
Fees Payable 106,280 106,280
------------ ------------
Total Current Liabilities 404,750 354,256
------------ ------------
Fees Payable - Long-Term 216,773 216,773
Line of Credit 1,864,069 603,009
------------ ------------
Total Liabilities 2,485,592 1,174,038
------------ ------------
Equity
Common Stock - $0.001 Par Value, 750,000,000
shares authorized 625,777,894 and 587,732,546
shares issued and outstanding 625,778 587,733
Preferred Stock
Series A - $0.001 Par Value 1,900,000 shares
authorized, issued and outstanding 1,900 1,900
Series B - $0.001 Par Value, 3,000 shares
authorized, issued and outstanding 3 3
Additional Paid in Capital:
Common Stock 4,715,373 2,703,418
Preferred Stock - Series A 55,100 55,100
Preferred Stock - Series B 1,149,997 1,149,997
Retained Earnings (Deficit) (5,868,659) (3,975,093)
------------ ------------
Total Equity 679,492 523,058
------------ ------------
Total Liabilities and Equity 3,165,084 1,697,096
============ ============
TOTALLY GREEN, INC.
CONDENSED STATEMENTS OF OPERATIONS
Year Ended Year Ended
December 31, December 31,
2011 2010
(Unaudited)
------------ ------------
Net Sales 821,905 135,179
Cost of Goods Sold 522,448 116,181
------------ ------------
Gross Profit 299,457 18,998
Selling, General and Administrative Expenses 2,254,916 809,182
------------ ------------
Loss on Continuing Operations (1,955,459) (790,184)
------------ ------------
Other Income (Expenses)
Other Income 132,623 25,675
Interest Expense (13,230) (66,891)
------------ ------------
Total Other Income (Expenses) 119,393 (41,216)
------------ ------------
Loss on Discontinued Operations - (29,749)
------------ ------------
Series B Preferred Stock Dividends (57,500) (48,000)
------------ ------------
Net Loss Attributable to Common Stockholders (1,893,566) (909,149)
============ ============
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Company Contact: Nate Baker President & Interim CFO
Totally Green, Inc. Tel 918-619-9700 Investor Relations
Contact: Liolios Group, Inc. Scott Liolios or Chris Tyson Tel
949-574-3860
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