Totally Green Reports Third Quarter 2013 Results

TORONTO, ON--(Marketwired - Nov 15, 2013) - Totally Green, Inc. (PINKSHEETS: TLGN) ("TG" or the "Company"), an innovator in organic food waste processing and diversion, reported results for the quarter ended September 30th, 2013.

Total revenue was $168,092 for the quarter ended September 30, 2013, compared to $45,914 for the quarter ended September 30, 2012. ORCA service fees increased from $78,902 in the second quarter of 2013 to $114,901 for the third quarter 2013.

Q3 2013 Operational Highlights Q3 2013 continued to see substantial growth activity, as we installed 10 new ORCA machines on the Service as a Solution model.

The majority of the activity and revenues to date have been generated from the Toronto area, however we continue to deploy and shift resources to better support our launch into the U.S. market and are reviewing other possible U.S. locations for expansion. Initial results continue to be positive, and we are confident that this business model will be replicable in many other markets.

Management Commentary "The results from the Quarter continue to demonstrate the effectiveness of the operating model, as we have seen, for the second straight quarter, increases of 45% over the prior Quarter in ORCA service fees," said Shawn Dym, CEO of Totally Green. "The U.S. entry will continue to contribute more significantly to new ORCA machine placements, and ultimately our revenue base, as we continue to build out our resources in the U.S. market. We continue to identify other viable U.S. markets and look to launch in additional large U.S. markets in the coming months."

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 September 30,     Nine months ended September 30,  
    2013     2012     2013     2012  
    (unaudited)     (unaudited)     (unaudited)     (unaudited)  
    $     $     $     $  
                         
Sales   53,191     9,431     337,763     289,433  
Service fees   114,901     5,200     248,676     7,200  
Other   -     31,283     -     197,026  
Gross sales   168,092     45,914     586,439     493,659  
Cost of goods sold   59,213     169,100     258,042     401,889  
Gross profit   108,879     (123,186 )   328,397     91,770  
                         
Operating expenses                        
  Selling and marketing   85,063     161,044     232,258     220,610  
  General and administrative   463,795     970,161     1,280,140     1,490,672  
  Amortization and depreciation   77,045     167,362     119,758     473,725  
  Foreign exchange loss   6,732     6,417     224     6,417  
  Interest expense   13,900     21,714     26,109     70,411  
    646,535     1,326,698     1,658,489     2,261,835  
                         
Other expenses                        
  Write-off of prepaid marketing fees   -     1,121,910     -     1,121,910  
  Impairment of intangible assets   -     554,757     -     554,757  
    -     1,676,667     -     1,676,667  
                         
Net loss   (537,656 )   (3,126,551 )   (1,330,092 )   (3,846,732 )
                         
                         
                         
Totally Green, Inc.  
Consolidated balance sheet  
(In US dollars)  
   
    September 30,     December 31,  
    2013     2012  
    (unaudited)     (audited)  
    $     $  
             
Assets            
Current assets            
  Cash and cash equivalents   3,444,261     733,411  
  Trade receivables, net   127,733     60,723  
  Inventory   26,853     16,894  
  Temporary investments - restricted   54,118     25,000  
  Prepaid expenses and other current assets   45,904     16,166  
  Other receivables   146,524     4,754  
    3,845,393     856,948  
             
Deferred commissions   86,597     -  
Property and equipment   1,559,960     426,204  
    5,491,950     1,283,152  
             
Liabilities            
Current liabilities            
  Trade payables and other accrued liabilities   414,054     167,740  
  Current portion of loans payable   139,380     -  
  Deferred revenues   6,000     -  
  Other liabilities   42,769     40,817  
    602,203     208,557  
             
Other liabilities   8,044     -  
Loans payable   100,569     -  
    710,816     208,557  
             
             
Stockholders' equity            
Common stock            
  750,000,000 shares authorized            
  20,888,523 and 13,825,727 shares issued and outstanding as at September 30, 2013 and December 31, 2012, respectively   20,888     13,825  
Preferred stock            
  Series C            
    100,000 and 50,000 shares authorized, issued and outstanding as at September 30, 2013 and December 31, 2012, respectively   100     50  
  Series E            
    12,000 shares authorized, issued and outstanding as at September 30, 2013 and December 31, 2012   12     12  
  Series F            
    7,000 shares authorized, issued and outstanding as at September 30, 2013 and December 31, 2012   7     7  
Additional paid-in capital   16,772,239     11,742,721  
    16,793,246     11,756,615  
Accumulated deficit   (12,012,112 )   (10,682,020 )
    4,781,134     1,074,595  
    5,491,950     1,283,152  
             
             
             

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

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