News out!
AMFIL TECHNOLOGIES INC ISSUES SHAREHOLDER UPDATE:
Dec 28, 2015
OTC Disclosure & News Service
Toronto, ONT, Canada -
Amfil Technologies Inc. (OTC Pink: AMFE) is pleased to provide the following update:
Seasons greetings to our shareholders and the investment community. We hope everyone had a wonderful holiday with their families and friends and are looking forward to a positive 2016.
2015 was another good year for the company after our new direction which started in 2013. We posted a 55% revenue increase compared to our 2014 year end, where we posted a 61% revenue increase compared to our 2013 year end. We also showed a profit in our most recent quarterly statement being Q1 2016. We intend to do everything in our power to keep the positive momentum on our side and are looking forward to what the new year brings. This was accomplished with a less than 5% increase to our outstanding share count over the past two years when the new direction took place. All of the shares issued during this time period are still being held in certificate form by the respective owners and not one share has been sold or made available to the market. Our public float with the DTC still remains at 168,047,581 which is the cumulative total since the company's inception in June of 1985. The company is proud to have never had any recapitalizations or share roll back's since its inception.
The GroZone & Interloc-Kings Inc. subsidiaries are continually making forward steps and building off the positive energy that has been put forth and received by the marketplace. The grozone.biz and amfiltech.com websites are currently in the process of being updated and we expect the new sites to go live in January 2016.
The company has had preliminary acquisition discussions with a company that during initial review seems to be a good fit to have added under our umbrella. This company had $569,415 CAD in total income in 2014 with $278,277 CAD in profit. In 2015, this company had $884,009 CAD in total income with $520,485 CAD in profit. Upon preliminary discussions, this company could be acquired for approx. $200,000 USD in cash, stock or a combination of both. Any stock that would be issued with regards to this acquisition would be restricted for a minimum of two years and would have performance clauses. Due to the nature and timing of the discussions we cannot release the name of the company or any further details publicly in order to protect ourselves, but we are set to have a meeting and discussion on Tuesday January 12th 2016 with this company along with our licensed public accountant. If and when a Letter Of Intent or Definitive Agreement is signed we will have further details to provide on this acquisition target. The company is very excited about this potential opportunity as it will be a great addition to our balance sheet and bottom line and will come with a great management team which would be kept in place to run and operate this potentially new subsidiary.
We are very appreciative of our shareholders and everyone who is involved with our company. Our goal is to continually improve upon and expand on our year over year successes and minimize or eliminate our setbacks. With Ambrose Fillis, our President of the Grozone Project being away on a one month sales expedition reaching as far as South Africa, we are hopeful that the beginning of 2016 will be the year to look back on as the turning point in terms of sales from all the hard work that was put in to creating and building the GroZone product line up to where it stands today.
We expect further updates to be provided over the next few weeks as we progress on our initiatives and are looking forward to publishing some very positive news in the near future as our in-progress deals materialize.
About Amfil Technologies, Inc.
Amfil Technologies Inc. operates both the Interloc-Kings Inc. subsidiary as well as the GROzone Project. GROzone was jointly developed between Amfil Tech and A.C.T.S. Inc. as an extension of the existing mPACT ozone technology being utilized in the food and beverage industry and integrated by A.C.T.S. into companies such as Pepsi, Nestle, Sysco, Sun Pacific and many others. GROzone is a triple-function sanitization unit capable of naturally eliminating 99.9% of airborne pathogens and the typically problematic pests that wreak havoc for cultivators (like aphids, whiteflies and spider mites), as well as bacteria, fungus, microbes and mold on surfaces, all without chemicals. The unit can also constantly regulate a given facility's water supply, oxygenating the water and maintaining a consistent PPM infusion of ozone that prevents the formation of algae, bacteria or mold (allowing for comprehensive water recycling), simultaneously removing the need to use dangerous, often carcinogenic products to treat the water, as is common throughout the industry today. This environmentally-friendly solution also eliminates odors, while slightly reducing the air temperature, lowering energy consumption by the HEPA filtration and HVAC systems. There is even compelling research indicating that elevated levels of ozone and CO2 can produce yields having as much as 53% more total biomass in certain plant types, with similar results for seed production. More information of the grozone line of products can be found on the www.grozone.biz website.
Safe Harbor Statement
This news release contains statements that involve expectations, plans or intentions (such as those relating to future business, acquisitions or financial results, new features or services, or management strategies) and other factors discussed from time to time in the Company's Securities and Exchange Commission or OTC Market filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend,", "potential", "plan" and other similar expressions. Our actual results, such as the Company's ability to finance, complete and consolidate acquisition of IP, assets and operating companies, could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the company such as a result of various factors, including future economic, competitive, regulatory, and market conditions. The company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Copyright © 2015 OTC Markets. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
AI
