good to go
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I'm a happy camper, Wow what a day in Amfeville, was traveling and couldn't keep an eye on it but oh man, Roger came through as I knew he would and everything is coming together. I see some will never be happy even if they made a trillion dollars, haha, whatever. I look at today as the new beginning with my year and half accumalated shares, finally we are headed TO DA MOOOOOOOOOON!! Rock on Tempe, Rock on Spinoff, Rock on Morning Games, move over Dave and Busters. Congrats to my fellow longs.
Great morning Amfilites??
The Tempe opening day is going to be that much sweeter now, US Flagship board game cafe, move over Dave and Busters
NASDAQ BOUND
The run is imminent, glad i bought more cheapies today, congrats longs, patience pays!
To DA Moooooon , oh yea, shares will be scarce, they have been massively accumulated, soooo good luck getting any more cheapies, ready for Roger to unleash the hold-ups, oh man this is exciting times for Amfilites!
Hallelujah! we can move on from the audit, way to go Roger!
So cool to be on this list! Nice find.
GM Amfilites
Seriously they wouldn't know a good investment if it bit them on the arse
AMFE to Da Mooooon
Thats some stellar great news! GM Amfilites!
Great Post Felo31 worthy of repeat.
Aristotle once famously wrote that every extreme is bad, and usually the truth lies in the middle. Here, as in other places, there are two sides of the story. There are people who are believers of the company (not the stock) and there are people who are completely against the stock (and perhaps the company).
That said, the information readily available to us supports the idea that the company is growing and doing well. It also supports the idea that Roger has given incorrect timelines before. That is true. But incorrect timelines do not cancel out the company’s growth. As an investor a question I ask myself is “what am I investing on?” “Am I investing in the company, or in Roger’s ability to communicate a timeline?”
My answer is that I am invested in the company. As long as I see the company grow, I can hold myself at peace. Why? Because as the company grows, so will the revenues, and higher revenues mean higher PPS. And yes, I can see the growth. I can see that a new location is about to open in the US, and I trust the team behind the expansion when they state that new locations will come.
The other side of the story, the trolls, claim that everything is bad. Is their story believable? It is completely lacking of evidence! The only thing they have going for them is the number of times that the CEO has “thrown an egg on his face”. The trolls seem to be heavily invested in the CEO’s ability to communicate a timeline.
As an investor, for me, the most important thing is the revenues. Is the company generating revenues? Is there a possibility that they will generate more revenue in the future? What is the gross margin of revenue that the company keeps for itself? Is the management working towards improving that margin? Do they have a strategy in place or is this all Willy nilly?
The answer to all those questions is positive. Snakes is bound to grow by leaps and bounds...and it is happening right before our eyes. To compare that growth to what the trolls are saying is laughable.
GM Amfilites!
Its because being on the Pinks, we don't have the right kind of investors yet, when we get those and the volume, we get proper valuation IMO
Recession and reset of the stock market is coming, I'd rather be here right now when that happens, severely undervalued compared to super over inflated big board stocks
Nice reply's Rocket, personal I stand on the DD and the obvious of what is happening here, the PPS will catch back up and we will have new levels and new trickle downs and trickle ups, just takes time to grow a company,no worry's here, just want more shares while the getting is good.
Over 10K sq. ft. of games stacked 20' high, thats a WHOLE LOT OF GAMES!
Amen to that, still haven't found a better penny stock, I add every single week.
GM Amfilites!
A giant location in Vegas would put us on the world stage! World Domination is in the works! Great news on the expansion, way to go S&L and Goooood Mooooorning Amfilites!!
Loving these discounted shares! Trying to get more today
Good Morning Amfilites! Have an awesome day.
I'll take some off some weak hands, bring em!
Nice close! News tomorrow hopefully.
I agree, great DD Rocketstocks! This could be the week we see a really awesome PR, end of August coming up. Continuing on the path to "World Domination" I'm pumped!!!
Nice shirt Plow!, I'll be getting me one.
Nice close!, Have a great weekend Amfilites!
Its an incredibly large warehouse full of games, 10000 sq ft was not enough last i heard, WOW
Best pic yet!, I'll take one
I like the attitude behind that post, good way to put it alleggsonebasketcase
Absolutely, its just what I already knew in my gut, Roger is a good man, you can tell by the way he writes, very sincere gentleman, anybody that wants to constantly harp about the audit - I say just repost his letter. The company is growing just as all the long smart shareholders already know. The PPS will eventually reflect the value of this awesome company. I feel I'm very lucky to be in at these levels.
Thanks Roger!
Letter to Shareholders
August 22, 2018
Re: Audit Update
Ahh the audit. I feel everyone’s frustrations. I truly do. As shareholders and as myself, I urge everyone to keep in mind that we are invested in a piece of the business and not the audit. The business is doing great! Hands down. However, the relaying of timelines that were provided to the company, and then on to the shareholders which were then not met has created the cloud hanging over our heads that has been, in my opinion, hindering the correlation between the company’s progress and the progress in terms of the market. The company today is in the best shape it’s ever been in however the market is not reflecting that. Frustrating, I get it. I have been avoiding discussing the topic recently as we are still closer then ever before but not yet completed and so any update which is not “The process is complete”, is not a positive one or what anyone wants to hear. Each week that has passed since the last timeline we relayed on to the shareholders, I truly believed was going to be it. However due to the amount of time that has passed, I do believe an update is necessary in all fairness, so the rumor mill doesn’t begin to churn in full force.
The unfortunate part about the whole ordeal is that I’m sure every shareholder, including myself wants a specific reason to be pointed at to say, this is the cause of the delay - but it is just not the case. It is ‘the process’ in general. When a footnote or a line item is modified there is a ripple effect that causes additional changes which just takes time. The fundamentals of the audit have not changed at all throughout this entire process. Just as I mentioned previously, the audited statements to this day stand and read with the same adjustments. As mentioned before, we will be filing revenues for the Fiscal Year Ended 2017 of $8,329,767, which is up $1,698,794 from the $6,630,973 we posted unaudited. This is due to the recording of some transactions only on the net side in error during consolidation. As mentioned before there will now be a ‘couple hundred thousand dollar’ operating loss due to some transactions being pushed out of the year end and into the following quarter. We could have argued this, but determined it to be meaningless in the grand scheme of things and the last thing we want to do is make the process take any longer than it already has. There unfortunately isn’t any single item or aspect that can be pointed to in order to say, “this is why it took longer then expected”. It is just the process in its entirety. Also, when things drag out as long as they have, and with the company continuing to forge ahead, the subsequent events list just keeps growing and that too must be constantly revisited. I feel like most of our 2018 audit will already be completed as it’s being checked for the multi year 2017 audit.
What I can say is that we had some down time for a few weeks due to people involved with the audit not being able to 100% dedicate their time to it, but this week and last they have been going full force to get it wrapped up and out the door. For the first time, CFO Squad and RBSM met this week face to face regarding our file to try and hash everything out and get it wrapped up. So, it would appear that we are close and we are pushing daily for completion. I believe it will happen very soon and we can finally get the elephant out of the room and move on. I want to also clarify that every date that I have ever relayed on to the shareholders regarding completion was given to me in writing and not just a guesstimate on my behalf. After so many times of relaying on what I am being told and seeing the dates missed, I decided to stop providing dates because the frustration I relay on to our auditors is relayed ten-fold onto me by our shareholders which does nobody any good. In hindsight, no dates should ever have been mentioned from the get-go, but I only did it because I kept truly believing the next date had to be it. I am just as anxious as everyone else to have this off our plate. It will come to an end. We are closer today then ever before, with one last open item to complete now. Once the item is satisfied, I believe within one day we can get the signatures. The final process will be to provide an updated shareholder list and legal confirmations to ensure no changes for subsequent matters, of which there are neither so this should take all but a couple hours to do. Then it is just signing of management rep letters and getting the sign off.
I also want to reiterate that the first audit is always the worst. Moving forward, things are much easier for everyone as the auditors are familiar with the file, are going off their own closing and opening numbers, not deriving them from scratch and are more up to speed in general with the file. For an auditor to provide audited statements on let’s say a one-year period, 2017, they have to essentially audit 2016 in order to be comfortable in their opening numbers for 2017. So, on a multi year audit, tack on an additional year even though its not part of the audit.
Let me give a specific example of a single item that takes months the first time around on a first-time audit but a mere couple of days on subsequent audits moving forward:
Auditors have to physically view inventory at year end. We hadn’t even begun our audit on June 30th of last year which was our year end. So, the auditor could not physically view the inventory. When you have to basically do a rollback from the day the inventory was actually viewed, in our case I believe it was around October of last year, you have to tie out every in and out transaction from June 30th to the date of viewing to provide the support to prove inventory was X as of year end. You know how many SKU’s the company has and how many transactions take place in three to four months? A LOT. That literally took months. For 2018, the auditors came and viewed the inventory right at year end. That one item of time savings alone saves months on the process, and there are many similar examples…
At the end of the day, I am just trying to provide some indication of why the process in its entirety takes so long as there is no one singular item that can be pointed at and say, “This is the cause of the delay” which would be so much more satisfying. But the truth is it is the entirety of the process which is extremely time consuming.
A word on the company: This time last year, there were two locations. We are now approaching four and the amount of work being done and success to date by the expansion team indicates we could and should be into double digit locations next year. At this time last year, we didn’t have our own publishing division which resulted from the all cash acquisition of Morning. We now have many very cool and trending titles coming to market before the holiday season. Distribution and fulfillment is gaining significant traction. Orders are increasing, profitability is increasing, exposure and the brand is ever increasing, location numbers are up, revenue is up, coast to coast locations are now in the works…. yet the audit took longer then expected and seems to be casting shade on the outstanding achievements during the process. We are fighting to get this initial monkey off our back, and we will succeed. It is just a matter of time. We are all part of this company because there is one major thing we do right, EXECUTE. And we will continue to do so. I apologize for this initial nightmare of an audit, but we will get past it. In the meantime we keep plugging away to get to signature stage while the company keeps growing by leaps and bounds. We expect everyone’s patience will pay off once audit/uplist is completed, then we proceed to complete the spinoff of I.K. and special dividend back to existing shareholders.
Thank you for owning and being a part of this great company and let’s continue to forge ahead like we do best! #worlddomination
Roger Mortimer
CEO | Amfil Technologies Inc.
GM Amfilites
Great post DF! agree 100%
Games division is kicking butt!, Nice finds
GM Amfilites!
anticipaaation, is making me waaait, la da da
Numbers coming! News coming! Soon :)
GM Amfilites!
Looks like a great time to buy , last time I bought at this price i made a bundle
Doesn't matter to me, lets go a little higher this year if all agree
AMFE Rocks!
Count me in Rocket
Like Rocket said, the audit is not taking any longer than any other audit like this, Roger is waiting like the rest of us, any other guesses as to what is going on don't really matter
Totally agree, AMFE is still in its infancy, and very happy with the progress, looking forward to the next set of numbers and other news around the corner