Totally Green Reports 2013 Full Year Results
31 March 2014 - 11:00PM
Marketwired
Totally Green Reports 2013 Full Year Results
TORONTO, ON--(Marketwired - Mar 31, 2014) - 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.
Management Commentary "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™ 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.
Shawn Dym Chief Executive Officer Totally Green, Inc. Tel
416-221-9066
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