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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.0003 | 0.00 | 01:00:00 |
From Jul 2019 to Jul 2024
Q2 2011 Operational Highlights
Q2 2011 Summary of Financial Results Revenue in the second quarter of 2011 was $305,000, an increase of 24% from $247,000 in the previous quarter and up 251% from $87,000 in the same year-ago quarter, 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 the second quarter of 2011 was $180,000 or 59% of revenue, an increase from $11,000 or 13% of revenue in the same year-ago quarter.
Net loss in the second quarter of 2011 was $222,000 or $(0.00) per share, as compared to a net loss of $92,000 or $(0.00) per share in the same year-ago quarter. The second quarter 2011 net loss included depreciation and amortization costs of $129,000, versus no depreciation and amortization costs in the same year-ago quarter.
Cash and cash equivalents at June 30, 2011 totaled $127,000, versus $145,000 at March 31, 2011. Totally Green has a $2 million line of credit designated for operations, of which the company used $1.2 million at the end of the second quarter.
Financial Guidance For the third quarter of 2011, the company expects revenues of $400,000 to $500,000.
Management Commentary "During the second quarter, Totally Green continued to ramp up its commercialization activity with great success," said Nate Baker, president and interim CFO of Totally Green. "The number of installations of our revolutionary ORCA Green Machines continued to climb across several new markets, and we are well on track to continue this growth and market expansion in the third quarter.
"The second quarter marked our first entrance into the convention center, hospital, hotel, and cruise line industries, and demonstrated that we are gaining traction in the government and sports arena markets. In fact, we are in advanced discussions with key military and chief sustainability officers in the U.S. Army, as led by Boyd Rutherford, our new strategic advisor, and we expect to see related purchase orders by the end of the third quarter.
"Our new direct-to-business distribution partnership with Admiral Express is bringing down some significant roadblocks to the commercial distribution of our Ingeo™ Green Bottle Spring Water. Admiral's door-to-door delivery system for the Green Bottle Spring Water provides a 'closed loop' solution for the compostable bottles that returns them to a central collection point for disposal in an eco-friendly way.
"Overall, we continue to be encouraged by the strong level of interest expressed by multi-billion dollar corporations that have environmental sustainability mandates, including the reduction of greenhouse gas emissions and other environmental issues. We look forward to making some major announcements in the third quarter that further validates our ORCA Green technology, and which should drive new pilot programs and purchase orders through the remainder of 2011 and beyond.
"I should also note that as part of our continuing effort to enhance shareholder value, we anticipate becoming a fully reporting company with the SEC during the current quarter, and are planning to up-list to the OTCQX stock exchange by quarter's end."
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. 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.
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TOTALLY GREEN, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
June 30, December 31,
2011 2010
-------------- --------------
(unaudited)
Current Assets
Cash & Cash Equivalents $ 127,053 $ 42,538
Accounts Receivable 181,738 700
Inventory 239,586 1,691,666
Prepaid Consulting Fees 350,000 147,236
-------------- --------------
Total Current Assets 898,377 1,882,140
-------------- --------------
Property and Equipment
Furniture & Fixtures 4,865 3,246
Equipment 994,726 989,952
Vehicles 60,874 60,874
Building 870,000 870,000
Building Improvements 33,789 33,789
-------------- --------------
Total Property and Equipment 1,964,254 1,957,861
Less, Accum Depreciation (950,172) (866,679)
-------------- --------------
Total Property and Equipment 1,014,082 1,091,182
-------------- --------------
Other Assets
Intangible - Totally Green, LLC 670,110 670,110
Loan Costs - 8,517
Accumulated Amortization - (8,517)
Prepaid Consulting Fees 1,166,667 -
Investments - Biocor 30,000 20,000
-------------- --------------
Total Other Assets 1,866,777 690,110
-------------- --------------
Total Assets $ 3,779,236 $ 3,663,432
============== ==============
TOTALLY GREEN, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
June 30, December 31,
2011 2010
--------------- --------------
(unaudited)
Current Liabilities
Accounts Payable $ 143,354 $ 150,622
Sales Tax Payable 3,731 -
Accrued Expenses 27,740 -
Customer Deposits 2,464 27,962
Notes Payable - Line of Credit
A two million dollar line of credit in
favor of Totally Green Inc. is designated
for operations. 1,183,266 603,008
--------------- --------------
Total Current Liabilities 1,360,555 781,592
--------------- --------------
Total Liabilities 1,360,555 781,592
--------------- --------------
Equity
Preferred Stock 1,900 1,900
Common Stock - $0.001 Par Value,
750,000,000 shares authorized 625,777,894
issued 625,778 625,778
Paid in Capital 4,443,423 4,443,423
Appraisal Surplus 369,534 369,534
Retained Earnings (Deficit) (3,021,954) (2,558,795)
--------------- --------------
Total Equity 2,418,681 2,881,840
--------------- --------------
Total Liabilities and Equity $ 3,779,236 $ 3,663,432
=============== ==============
TOTALLY GREEN, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Three Months Ended June 30,
-----------------------------
2011 2010
------------- --------------
(unaudited)
Revenues
Sales $ 273,434 $ 85,263
Rental Income 32,000 -
Sales Discounts - -
Other Income - 1,819
------------- --------------
Total Revenue 305,434 87,082
Cost of Operations
Cost of Goods Sold 125,575 76,009
------------- --------------
Gross Profit 179,859 11,073
Expenses
R&D - 8,653
Administrative 141,450 3,777
Depreciation and Amortization 129,246 -
Insurance 7,710 (740)
Interest 3,512 14,864
Professional Services 57,798 30,050
Salary 57,500 250
Taxes 4,930 706
Other Operating Expenses - 54,487
------------- --------------
Total Expenses 402,146 103,394
Net Income/(Loss) $ (222,287) $ (92,321)
============= ==============
Net Loss Per Share:
Basic & Diluted $ (0.00) $ (0.00)
============= ==============
Weighted Average Shares Outstanding:
Basic & Diluted 625,777,894 625,777,894
============= ==============
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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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