TORONTO, ON — (Marketwired) — 08/30/13 — 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.
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.
“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.”
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