RenoWorks Announces September 30, 2011 Quarter End Financial Results
29 November 2011 - 10:52PM
Marketwired
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION
TO UNITED STATES NEWS WIRE SERVICES.
RenoWorks Software Inc. (TSX VENTURE:RW), a leading provider of
digital exterior and interior home imaging software solutions for
new home construction and existing home renovations, today
announced financial results for the three months ended September
30, 2011.
Financial results from operations for the quarter and nine
months ended September 30, 2011, with comparatives for 2010, are as
follows:
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Quarter ended Quarter ended
September 30, 2011 September 30, 2010
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Revenue $ 307,030 $ 278,137
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Gross Margin $ 191,880 $ 207,611
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Operating Expenses $ 228,106 $ 244,174
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Net Loss $ (44,647) $ (39,797)
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Net Loss per share $ (0.002) $ (0.002)
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Weighted average shares outstanding 26,620,444 26,620,444
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Nine Months ended Nine Months ended
September 30, 2011 September 30, 2010
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Revenue $ 880,537 $ 1,135,812
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Gross Margin $ 619,400 $ 905,388
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Operating Expenses $ 764,099 $ 805,878
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Net Income (Loss) $ (163,823) $ 91,410
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Net Income (Loss) per share $ 0.006 $ 0.003
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Weighted average shares outstanding 26,620,444 26,620,444
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Cash provided (used) by operations $ (207,815) $ 2,498
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The Company's financial position as at September 30, 2011 and
December 31, 2010 was as follows:
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September 30, 2011 December 31, 2010
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Cash balance $ 41,770 $ 77,431
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Working capital $ (525,427) $ (378,358)
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Long term liabilities $ 127,978 $ 135,554
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Shareholders' deficiency $ (623,371) $ (477,175)
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Deficit $ (5,483,570) $ (5,319,747)
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Total assets $ 283,109 $ 255,279
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Deferred Revenue $ 321,067 $ 379,608
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RenoWorks Software Inc. announces that it has granted options to
acquire an aggregate of 240,000 common shares at an exercise price
of $.10 per share to directors, officers, and employees of the
Company on November 9, 2011. These options expire November 9th,
2016 and are governed by the company's Stock Option Plan. This
brings the total number of options outstanding to 1,315,000 or 4.9%
of outstanding shares.
About RenoWorks Software Inc:
RenoWorks Software Inc. develops and markets cutting edge
visualization software and integrated solutions for the remodeling
and new home construction industries. RenoWorks' software and web
solutions use digital imaging to showcase interior and exterior
building products on a picture of a customer's room, home, or
blueprint. The software allows users to envision various 'before
and after' design options using a database of actual manufacturer's
products. For more information, visit www.renoworks.com, or call
403-296-3880.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: RenoWorks Software Inc. Doug Vickerson CEO and CFO
403-296-3880 x 227www.renoworks.com
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