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Your right. AMFE is not a pure MJ stock. S&L has nothing to do with MJ, IK has nothing to do with MJ, Natural Stuff as far as we know today has nothing to do with MJ, GZ while it was developed to target the MJ market also has applications in other food and beverage markets.
But that’s the beauty of it. If the entire MJ sector takes a crap (Canada delays legalization and the US takes forever to figure it out) we have other MASSIVE sources of revenue.
That’s the thing.
1) management has never done anything to really promote the stock. There is not one paid pr or article on AMFE out there. S&L never even had a marketing budget. Can be found in Ben’s interview on YouTube.
2) I don’t disagree that being overly transparent has put us in a rut when 3rd party delays happen ( auditors, government, midtown contractors). But I can deal with that since I view this as an investment not a trade. As long as revenues keep increasing. I don’t really care how long it takes
3) of course there are other plays out there with more volatility. There always will be and sometimes I play those but they are much riskier and usually don’t hold pps. Which is why many have chosen to zoom out on the chart, look at the big picture and trust the DD here. It’s all here and there have been many clues given about the future if you know where to look.
Everyone will invest how they see fit.
GLTY
Yes it is approaching the 6 month mark but reporting companies take 90 days to produce yearly audited numbers and that is even with a streamlined process where all disclaimers etc are already written. Here they are going through 2-3 years across three subs for the first time so... in my view this was kind of expected. As for the fees they are outlined in the letter below. I believe the are flat.
https://www.otcmarkets.com/financialReportViewer?symbol=AMFE&id=179045
No that is not true. The auditors engagement letter wasn’t even signed until mid August... see below. It was announced earlier that the company intended on doing the audit. But from below you can see it most likely didn’t start till end of August early September.
https://www.otcmarkets.com/financialReportViewer?symbol=AMFE&id=179045
That comes back to transparency. As stated in the last PR. We were given the same information Roger was given by the 3rd parties ( mid town contractors and auditors). Then when delays happen out of his control everyone says he isn’t delivering even though it’s the 3rd party. Just look at the nature of the last PR. He knew everyone was holding him to the 1/31 expectation so even though the news wasn’t what we wanted he was transparent and stuck to that date.
This is spot on. Everyone that is complaining about no news can thank the people who have sent Roger hate emails, text or phone calls. Or the people who call the auditor or even THE COMPANIES AMFE IS TRYING TO DO BUSINESS WITH. I’m sorry but that is the most idiotic thing to do (at a corporate level.) what do you think that looks like? It makes the other companies question AMFE and then AMFE has to defend themselves. I know that is the nature of penny land but the guy has been transparent out of the gate and he was crucified for it.... If you are really a true “Long” trust your DD and the company.
That’s a great story. Welcome aboard.
Yes that is usually the case. But you never know till you ask. The leadership team has been very transparent every time I have talked with them.
When is the self published title going to drop or how is it coming along?
Haha there are several longs here that would take all they could get in the .14’s. If the impatient want to give away their shares right before Q2 numbers come out that’s fine with me.
Haha. His number and email are at the bottom of every pr. Several here have spoken with him. He isn’t hiding.
Oh yeah. What was it they found while doing the audit?
Exactly! I was being conservative but yes all of those extra factors will put us between 30-35M I believe. So when we are trading at a market cap of $80M.... any one with half a brain can see how undervalued this is.
That would be my opinion. If Q1 numbers that nearly eclipsed all of 2017 numbers (6M) didn’t move the pps I wouldn’t waste a solid PR with the class of investors we get in pinky land ( this does not include anyone here. You are all savvy enough to know what you own). I would wait as long as possible without filing an extension for Q2 numbers. If the 15th gets here before the audit then announce. Company is clearly under valued. From what we know they are on pace to do +\- $24M with only a market cap of $80M.... less than 4x.
Through the AMFE board.
Cchumas@gmail.com
Exactly why I originally sold that one. I’ll admit it was way too early and I left profits on the table. But the more digging I did on the history there the more I worried about their history repeating itself and it appears that may come true.
Best thing that came out of that for me, all that money made it’s way into AMFE ;)
One thing I forgot to add to this last post and it’s important for everyone to remember who is questioning this audit (especially with what happen to some other pinks trying to get audited recently). Amfil was originally Rogers’ fathers company and it was full reporting until a few years ago when Roger took over the company shell. This tells you everything you need to know. There are no skeletons in the closet Roger has to worry about before he got here, no CEO he needs to go track down for records etc. the time period that is being audited he was here for. As for the acquisitions, those were vetted by Roger and other leaders prior to being acquired... again no surprises. So in the end, everyone can rest easy knowing when Roger says “this will happen” it will.
Exactly! Other institutions are taking notice.
From my experience with audits (not 100% this is what is happening here but it’s usually how I have seen it happen). There is a weekly scheduled call where the auditors and the company review information. Based on that review the auditors will ask questions or for further documentation. The company will send that info in and the next week on the call they review the new info. That can spark new questions, or a transaction to check or more documentation needed. This process is repeated over and over again until the auditors are satisfied and when going through multiple years it can get very tedious and frustrating. I have never in my career seen any type of audit finish in the original or even the revised time table.
In the end, this will all be worth it. The company is thriving. You don’t sink a million plus in a flagship location (10 year lease) to lead your enterprise and sell franchises without a solid growth plan that will be backed by serious investors.
I was thinking the same. I was looking on the recently announced uplisted companies on otc but none of them have the same answers (specifically the first question where we selected alternative reporting) on their uplist application that I can see.
https://www.otcmarkets.com/news/press-center/releases
No kidding. My entire MJ watch list is red except 3 and most of them with double digits. Looks like this one is building a solid base for the next leg up.
Glad you decided to jump on board! Looks like rocket covered all the DD you will need for this one.
Ha! They must be hiding something or those locations must be fake... quick can someone please post pics of the construction because the ones they put on twitter or Instagram have to be doctored.... hahaha
On a serious note. Roger came through again even thought this wasn’t the exact result we expected. But as he said “ we choose to be transparent, good or bad”
So the question is... would that period be from the last PR? Or the last tweet?
IMO I don’t think the SL tweet earlier today with Meeple Mountain was a coincidence...
Why? MM just got back from Toronto meeting with SL and learning about the company. We saw this in another tweet a few weeks ago. MM is a well known player in the board game community. So why is this article good timing? Is our first self published title on the list (the one we got 200K signing bonus for)... guess we will have to wait until the silence is broken.
http://www.meeplemountain.com/top-six/top-6-most-anticipated-games-of-2018/
With the latest sentiment. I will also be ready to load up if this goes past Wednesday. Not saying I want it to but if people are dumb enough to sell based on an arbitrary dead line when NONE OF THE FUNDAMENTALS HAVE CHANGED I will happily take their shares at a discount.
So SL just tweeted this link and said awesome timing. Wondering if our self published title in on here....
http://www.meeplemountain.com/top-six/top-6-most-anticipated-games-of-2018/
I put in a bid at the last min for .0279 and it didn’t fill. Jumped right to .028
And you will see the uplist news here. They come out nearly every morning and tag the companies.
http://www.otcmarkets.com/stock/OTCM/news
Do NOT call them...they can’t give you any information anyways. But this is exactly what has been talked about numerous times on this board. This childish impatient behavior. Where people have called other businesses to verify AMFE. What do you think that looks like? It makes the person you call ask if there is something wrong and then roger or someone in leadership has to go defend AMFE instead progressing business. It maybe different if you were about to put $1M into a franchise and you sent a simple yes or no email. But just being a shareholder that can’t wait for the deadline given is ridiculous. You wonder why roger has been silent the last month? No reason to waste good PR’s like our previous quarter results when this is the BS he gets in return. He may as well wait for a better class of investors instead of swingers and flippers.
This is the last time I will respond to one of your posts.
Agree! Audit has to be sent in by the firm, uplist application was submitted to OTC by Amfil already. Not much they can do but sit back and wait.... so might as well focus on things they can control. S&L expansion and GZ sales.
I would NOT recommend this until after the 31st.
This type of impatience and behavior has jeopardized Amfil’s partnerships, relationships with potential clients and others. Do you not think every time someone calls the auditor, otc, a partner or wherever Roger doesn’t hear about it?
If you were killing yourself to be as transparent as possible and every time you had even the slightest miss step you were called on it (or in this case 3-4 days before the actual due date). Would you still want to reward the short sighted swing traders or flippers by being transparent? (Not saying this is you). I wouldn’t. I would focus on uplisting and reward the new investors after the uplist to lock them in as longs.
BE PATIENT! He can’t push the otc or auditors to move any faster.
Exactly. People should read between the lines here. Can’t apply to the QB without....
Something is cooking. No PR since 1/3 but there have been hints put out there....
Yes watching that run has me scratching my head. They are nearing a 250M market cap on $14m in unaudited revs. I know they are waiting on an audit/uplist also and the OS is about 200M less but they have a terrible fundamental history and are trading at 15x?!? Where as AMFE does not and has multiple revenue streams. Our day will come, I just don’t believe we have been discovered yet or maybe we need a group of savvier investors that you can’t reach on the pinks.
It was pretty memorable to anyone who was here at the time. Several people snapped and let their impatience get the best of them
Love all the GZ DD you posted on the other board. If roger and bill got together it would be awesome.
And here is the tweet from 8/1/17
“A senior director at one of the big 5 Canadian banks has reached out to us regarding expansion. Will provide updates accordingly. $AMFE”
Hey jrf. Glad to see you over here