AMFE DD - Past 6 Month Overview
Excellent overview for newcomers of how we got to this point today, and some of the upcoming events to look forward to. About a month and a half old, but good way to catch up for starters.
May 30, 2017
OTC Disclosure & News Service
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Amfil Technologies Inc. Provides A Company Operations Overview Of The Last 6 Months
TORONTO, ON--(Marketwired - May 30, 2017) - Amfil Technologies Inc. (OTC PINK: AMFE) announced late last year that we had developed and intended to execute on a 2017 Growth Strategy to expand the company via the development of our existing subsidiaries, strategic partnerships, acquisitions, the development of our technologies and general market reach. We are now nearly at the halfway point into 2017 and are pleased to provide a general six month summary of the results we have achieved so far under the strategy and has been publicly disclosed to date, with further accomplishments and updates to be announced shortly. We also provide brief updates on operations which have been mentioned but not elaborated on further as of yet.
Amfil Technologies Inc. (AMFE) highlights the last 6 months:
The recently acquired Snakes & Lagers Inc. and Snakes & Lattes Inc. subsidiary posted over $7.35M CAD in revenue with $1.6M CAD in gross profits last year.
Back to back quarterly revenue increases of 4500% and 26,600% respectively past two quarters year over year.
Completed a 47% reduction in our Issued and Outstanding Share Count
Received exclusive distribution rights in Canada and other international regions to a number of the most popular and well known board game titles in the world.
Expanded warehouses total capacity and increased staff to accommodate the expansion.
Increased inventory to over $4.8M in preparation for the expected near term purchase orders.
Received the largest purchase order to date for exclusively held titles in Canada from Indigo / Chapters.
Began shipping game products for the $1.25Million CAD deal with large retailer.
Set-up working relationship with Cineplex/Rec-Room
Working with Nintendo Canada on developing Nintendo Switch game nights at the Snakes & Lattes Inc. locations.
Partnered with U.S. Fulfillment Houses Game Salute, Cool Stuff Inc., funagain.com
High Volume retail sales continues through Amazon
Mill Street Brewery developed Secret Alliance beer in conjunction with Snakes & Lattes
Snakes & Lattes became popular location for the television & film industries, hosting shows such as Property Brothers.
Signed 10 year lease and began construction on the 3rd Snakes & Lattes Inc location for Toronto which will be the largest to date at approx. 10,000 sq. ft. with outdoor patio.
Increased staff from 90-100 employees with short term goal of approximately 160 by July.
The GROzone mPact Antimicrobial System was rebranded to EcoPrO3 and added upgrades including; All stainless-steel construction; Greater flexibility to scale system up or down, depending on facilitys application requirements; Ability to integrate into existing facility monitoring/control systems; Ability to control/monitor remotely via the internet.
Added talent to sales and marketing teams to drive sales and brand exposure.
Signed agreement with Roto-Gro International (ASX: RGI) to integrate and distribute the GROzone EcoPrO3 system with the Roto-Gro hydroponic systems. Further updates relating to the agreement will be announced as the deal progresses.
GROzone EcoPrO3 passed product review through Pennsylvania Certified Organic.
Received patent pending number #62472210.
Ku-Kum opening covered by CBCs The National.
Selected RBSM as our auditors to continue where our previous auditors left off from the filed 2014 10K to become fully reporting in order to automatically uplist to the OTCQB with intention to move up to OTCQX once our share price supports the move.
Initiatives mentioned, but not yet expanded on in the past 6 months:
Retiring 20 Million additional shares from the issued and outstanding share count. We are in the process of retiring the 20M shares from the outstanding in exchange for preferred.
Infused Vodka, Wine and Gin company. This potential acquisition is a brand of infused spirits which has already achieved one of the most difficult tasks in the alcoholic beverage sector, being awarded shelf space in major alcohol retailers in Canada (LCBO). The company is still in the due diligence phase of this potential acquisition and is further analyzing potential for cross synergies with existing subsidiaries. We will provide our investors with further details and a final decision once this is reached.
The 10 acre property being developed for a marijuana grow facility in California. Amfil has continued discussion with the public company who is developing the grow facility on the California property. There are a number of potential initiatives being discussed with this company, including but not limited to, a purchase order to have the entire facility outfitted with the EcoPrO3 Antimicrobial Systems. Further details relating to this venture will be released as they develop.
Acquisition of a company that would assist with synergizing the internal workings of each subsidiary to prepare for large scale expansion and franchising opportunities -- This company specializes in processes that automate the completion of financial reporting, tax compliance and streamlines the large scale purchasing, accounts receivable / payables and the many other systems needed for multiple locations and businesses. Related to this, a software suite which includes wait-list management, tip pooling, employee scheduling, pay software, shipping, inventory and most importantly the POS system has been internally developed and perfected. This acquisition deal is still in the works, and management has set a benchmark of having 5 Snakes & Lattes locations up and running before completing this acquisition and beginning to franchise the brand.
The company would also like to take this time to thank our shareholders for their continued support. We highlight our successes over the past 6 months, but more importantly look to further increase the momentum, growth, revenues and profits moving forward. We intend to continue to execute the company's growth strategy and to deliver maximum value back to our shareholders quarter after quarter and beyond. The company has a number of major initiatives in the works which we believe will significantly impact the bottom line and resultant shareholder / market value. As always, we will maintain consistent and transparent communication with the investment community relating to the company's plans, developments and achievements through the second half of 2017.
For more information regarding the company please visit www.amfiltech.com and follow us on twitter for further updates from the company @AmfilTech
For further information on our subsidiaries please visit;
www.snakesandlattes.com, www.grozone.biz, www.interloc-kings.com
