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Share Name | Share Symbol | Market | Type |
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Ever Harvest International Group Inc (CE) | USOTC:TLGN | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0.0003 | 0.00 | 01:00:00 |
Q4 2011 Operational Highlights
Full Year 2011 Operational Highlights
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:
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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