Highlights from AMFE's 10Q.
Results of Operations
Liquidity and Capital Resources:
Cash inflow from operations for the nine months ended March 31st, 2017 was $1,435,593 compared to an cash outflow of $5,133 in the comparative prior nine months ended March 31st, 2016. The increase in cash inflow was due to the increased operations provided by the recently acquired Snakes & Lagers subsidiary.
The Company is dependent upon equity and loan financings to compensate for the continued outflow of cash anticipated from operations. The Company’s continued operations are dependent upon obtaining revenues from outside sources or raising additional funds through debt or equity financing.
Profit & Loss:
Comparison of the three and nine months ended March 31st, 2017 with the three and six months ended March 31st, 2016.
The net gain for the nine months ended March 31st, 2016 was $265,797 compared to a net loss of $76,670 for the six months ended December 31, 2015. The gains for the recent periods relate to the recent acquisition of Snakes & Lagers Inc. being added to the financial statements.
The net gain for the three months ended December 31 2016 was $28,803 compared to a net loss of $131,426 for the three months ended December 31, 2015. The gains for the current period relate to the recent acquisition of Snakes & Lagers Inc. being added to the financial statements.
Cash Flow:
The Company as of March 31st, 2017 had cash and cash equivalents of $64,870 and total current assets of $6,384,089 which is less than current liabilities of $6,225,236. At March 31st, 2017 the Company had a working capital deficiency of $(158,853).
Operations highlights:
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I like this:
1). Snakes & Lagers Inc.
The company’s first goal with the Snakes & Lagers subsidiary is to work together with Ben Castanie to open (3) three additional Snakes & Latte’s Inc. locations.
Through preferred shares, Roger Mortimer has controlling interest in the entire company:
A. Names of Officers, Directors, and Control Persons . In responding to this item, please provide the names of each of the issuer’s executive officers, directors, general partners and control persons (control persons are beneficial owners of more than five percent (5%) of any class of the issuer’s equity securities), as of the date of this information statement.
Roger Mortimer 4,500,000 preferred stock 50.29%
All in all, this is a very good filing showing tremendous growth in a very short amount of time. Based on what we know is still coming with GroZone and more Snakes and Lattes locations opening, the future is very bright!
Future quarterly filings are on pace for continued tremendous growth and should reflect in the stock performance with sustained appreciation.
Go AMFE
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