Totally Green Reports First Quarter 2013 Results
(firmenpresse) - TORONTO -- (Marketwired) -- 06/14/13 -- Totally Green Inc. (PINKSHEETS: TLGN) ("TG" or the "Company"), an innovator in organic food waste processing and diversion, reported results for the quarter and year ended March 31, 2013.
Total revenue was $247,453 for the quarter ended March 31, 2013, compared to $146,284 for the quarter ended March 31, 2012. The increase in revenue is a result of the sale of 5 ORCA machines under the previous "Unit Sales" model. These sales were contracted before the Company switched to a "Service as a Solution" model, in which the Company's revenue is based on monthly service fees and not sales. ORCA service fees were $54,855 for the first quarter, compared to $19,600 in the fourth quarter of last year.
We installed 12 units during the quarter as we took shipment of the recently improved ORCA machines and we signed 17 new customers to trials.
The Company has continued to focus on the Toronto market as we refine our processes to serve customers under the Service as a Solution model before expanding across North America.
"I am confident that we now have the infrastructure in place that is required to enable the growth of our business model into other cities," said Shawn Dym, CEO of Totally Green. "We expect to build on the momentum we have created in Toronto, and launch in a major U.S. market by the end of Q2."
"We continue to be pleased with our new operating model, with ORCA service fees up 180% over last quarter. We feel this is a strong sign of customers being receptive to our offering, and we continue to expect robust growth of ORCA service fees as we expand into new markets."
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 .
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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Datum: 14.06.2013 - 06:00 Uhr
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