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TLGN Ever Harvest International Group Inc (CE)

0.0003
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
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

Totally Green Reports Second Quarter 2013 Results

30/08/2013 1:00pm

Marketwired


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Totally Green Inc. (PINKSHEETS: TLGN) ("TG" or the "Company"), an innovator in organic food waste processing and diversion, reported results for the quarter ended June 30th, 2013.

Total revenue was $161,519 for the quarter ended June 30, 2013, compared to $289,270 for the quarter ended June 30, 2012. ORCA service fees were $78,920 for the second quarter, compared to $54,855 in the first quarter.

Q2 2013 Operational Highlights

The quarter was busy with install activity, as we installed 22 new ORCA machines on the Service as a Solution model.

Although primary focus has remained on the Toronto market, we feel the timing was right for further expansion, and we successfully launched operations in a major U.S. market in June. Initial results look promising, and we are confident that this business model will be replicable in many other markets.

Management Commentary

"I am pleased with the performance this quarter, and I'm particularly pleased with our initial results in the U.S." said Shawn Dym, CEO of Totally Green. "We expect our U.S. entry to start contributing more significantly to new ORCA machine placements later this year. We also hope to launch in one or two more large U.S. market before the end of the year, which will primarily start to contribute to ORCA placements in 2014."

"We continue to see the effectiveness of the new operating model, with ORCA service fees up nearly 45% over last quarter. The continued strengthening of this recurring revenue will add long term value to the business."

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.



Totally Green, Inc.
Consolidated statement of operations
(In US dollars)
                                               ----------------------------
                                                Three months ended June 30,
                                                        2013           2012
                                                 (unaudited)    (unaudited)
                                               -------------  -------------
                                                           $              $

Sales                                                 82,599        253,925
Service fees                                          78,920          2,000
Other                                                      -         33,345
                                               -------------  -------------
Gross sales                                          161,519        289,270
Cost of goods sold                                    82,888        143,620
                                               -------------  -------------
Gross profit                                          78,631        145,650
                                               -------------  -------------

Operating expenses
  Selling and marketing                               73,633         18,382
  General and administrative                         473,555        311,135
  Amortization and depreciation                       22,747        153,181
  Foreign exchange gain                               (5,384)             -
  Interest expense                                    12,282         22,896
                                               -------------  -------------
                                                     576,833        505,594
                                               -------------  -------------

                                               -------------  -------------
Net loss                                            (498,202)      (359,944)
                                               =============  =============




Totally Green, Inc.
Consolidated balance sheet
(In US dollars)
                                                 ------------  ------------
                                                     June 30,  December 31,
                                                         2013          2012
                                                  (unaudited)     (audited)
                                                 ------------  ------------
                                                            $             $

Assets
Current assets
  Cash and cash equivalents                         3,078,758       733,411
  Trade receivables, net                              115,119        60,723
  Inventory                                             9,290        16,894
  Temporary investments - restricted                   55,000        25,000
  Other receivables                                    79,534         4,754
  Prepaid expenses and other current assets            30,984        16,166
  Share subscription receivable                     1,400,000             -
                                                 ------------  ------------
                                                    4,768,685       856,948

Property and equipment                              1,219,920       426,204
                                                 ------------  ------------
                                                    5,988,605     1,283,152
                                                 ============  ============

Liabilities
Current liabilities
  Trade payables and other accrued liabilities        360,837       167,740
  Current portion of loans payable                    150,661             -
  Deferred revenue                                      9,600             -
  Other liabilities                                    46,281        40,817
                                                 ------------  ------------
                                                      567,379       208,557
Loans payable                                         139,066             -
                                                 ------------  ------------
                                                      706,445       208,557
                                                 ------------  ------------


Stockholders' equity
Common stock                                           20,888        13,825
Preferred stock
  Series C                                                100            50
  Series E                                                 12            12
  Series F                                                  7             7
Additional paid-in capital
  Common stock                                      6,801,570     6,308,633
  Preferred stock - Series C                        8,999,900     4,499,950
  Preferred stock - Series E                          700,603       700,603
  Preferred stock - Series F                          233,535       233,535
                                                 ------------  ------------
                                                   16,756,615    11,756,615
Accumulated deficit                               (11,474,455)  (10,682,020)
                                                 ------------  ------------
                                                    5,282,160     1,074,595
                                                 ------------  ------------
                                                    5,988,605     1,283,152
                                                 ============  ============


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Shawn Dym Chief Executive Officer Totally Green, Inc. Tel 416-221-9066

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