Aug 21, 2017 AMFE news.
Toronto, ONT, Canada -
Amfil Technologies Inc. (OTC Pink: AMFE) is pleased to provide our shareholders and the investment community with an update on the plans for franchising the Snakes & Lattes Inc. retail division throughout North America and beyond as well as on progression within the new publishing division.
Since inception, the Snakes & Lattes Inc. tabletop gaming bars/cafes have made a meteoric rise in popularity and profitability in the 2 locations in downtown Toronto, Ontario. The 3rd and largest cafe/bar location set to open in early September, will be used as the 'flagship' location, which all future locations will be modeled after as the division continues its aggressive expansion plans in the North American markets. With the increasing popularity of the retail locations, patronage has increased to a level where both current locations consistently have line ups and waiting lists of customers waiting for available tables. This increased demand has not only fueled the plans for expansion, but provided further proof of the concept and business model of the cafe/bars and the value of the uniquely specialized 'game gurus' on staff.
With interest in the Snakes & Lattes Inc. retail locations surging at such a tremendous rate, management has decided that the most effective way to supply enough venues to meet the demand from patrons is to begin leasing franchises. This will allow the brand to aggressively expand throughout the North American market at a rate exponentially faster compared to locations being opened entirely in-house. This will also, expedite the profitability of the locations and the revenues being added to the company's bottom line, in turn rapidly increasing shareholder value.
The plan for franchising and expansion is still in the process of development, we are currently in the process of building the required foundation to effectively execute the franchise seamlessly with a first leased franchise targeted to open in early calendar 2018.
The following initiatives are being pursued and will be executed prior to rollout of franchise expansion:
Adding an experienced franchising consultant to management team
The company has been interviewing highly experienced candidates, to join the management team to provide expertise relating to high volume franchising. We have considered a number of highly qualified candidates for the role, including a former VP of a large publically traded entity responsible for the rollout of over 4000 retail locations. We are currently in the process of short listing and determining potential compensation packages or project budgets for the right candidate.
Bringing on the right individual for this particular job will be a huge asset ensuring the smooth rollout of the new franchises, assisting with the franchise structure, recruitment of franchisees, coordination with legal counsel, capital management, marketing, and growth of the franchise/brand.
More details will be announced once decisions have been made and deals have been finalized.
Engaging a franchise specialized lawyer
To work alongside the chosen experienced franchising consultant the company is currently in the process of hiring a lawyer recognized both domestically and internationally who specializes in franchising to help with the setup as well as purchase and sale of franchise systems, the drafting and updating of franchise agreements and franchise disclosure law compliance among other things. The company expects to have the whole franchise team in place and ready to go in Fiscal Q2 2017.
Snakes & Lattes Head Office/Franchise Headquarters
With Snakes & Lattes Inc. ramping up the brand and exposure to its various divisions as well as the upcoming roll-out of the franchise model, it was deemed necessary to create a Snakes & Lattes Inc. management office / headquarters. Needing a proper space to work on the business and expansion side of the company, as well as to invite suppliers, potential customers and / or franchise owners, a space has been rented and construction will begin on the new Snakes & Lattes Inc. headquarters in September 2017 with an expected move-in ready location by October 2017.
Cloud Accounting Software Acquisition
In our news releases published on November 16th 2016 and March 8th 2017, we mentioned a potential upcoming 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 is a Cloud Accounting Software provider that 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.
This deal includes a software suite which provides wait-list management, tip pooling, employee scheduling, pay software, shipping, inventory and a customized POS system that was internally developed and perfected.
This acquisition was previously negotiated and has already been funded, but was put on hold while management executed on higher priority initiatives. We will be finalizing this acquisition in the coming weeks.
We will make the announcement and release the details once the acquisition has been made official.
Publishing Team
We are in the process of engaging a high-end graphic design artist with extensive experience working on major Hollywood projects. This highly talented individual has over 10 years experience in entertainment advertising including theatrical, television, home entertainment and gaming with expertise in art direction, typography, retouching, and conceptual design.
His impressive portfolio consists of design work for film and television titles including Game Of Thrones, Entourage, San Andreas, Limitless, The Martian, Mad Max, and The Accountant amongst many others.
The company is in the process of engaging this perfectly suited candidate for the purposes of producing the cover art work, advertising, packaging, game surfaces and potentially game cards, game currencies, etc. for new game titles being developed and marketed through the Snakes & Lattes Inc. publishing division. The company has received general quotes on different levels of design intricacies, are happy with them and will look to solidify a formal engagement before the end of this month with a continued long term relationship with this artist/designer moving forward. The company has two titles in mind that it would like to begin the publishing process on immediately after engagement.
Snakes & Lattes Inc. is also looking at expanding on its board game designer nights to offer quarterly or semi-annually first place prizes of having Snakes & Lattes Inc. publish the game for the designer and push it through the distribution network. The games would be voted on based off of overall design, game mechanics, recurring playability and overall level of fun and enjoyment among other things. This would also allow the publishing of the generally accepted best designed games within the community through feedback, to be cherry picked to be taken to market and distributed through the Snakes and Lattes Inc. distribution network and should have the best possibility of success in the industry.
The above mentioned steps towards preparing the brand for franchising and publishing will ensure that the process proceeds efficiently and within targeted time frames, allowing for the expansion of the brand across the North American market, penetrating all major hubs and attaining maximum overall market share of the retail entertainment market.
Franchising marks a monumental step for the company, wildly enhancing the company's overall strength, profitability, and brand exposure in North America and Internationally for all divisions of the Snakes & Lattes Inc. organization including the retail, distribution, and publishing divisions.
Furthermore, the company is pleased to announce that Ben Castanie, Founder and President of the Snakes & Lattes Inc. subsidiary has been added to the Amfil Technologies Inc. board of directors. The company is proud to have Mr. Castanie on the board to further ensure the Snakes & Lattes Inc. subsidiary continues to execute its growth and expansion strategy, increasing revenues, and thus delivering the maximum value back by Amfil to its loyal shareholder base.
Anyone interested in a franchising opportunity of a Snakes & Lattes Inc. venue, please contact investors@snakesandlattes.com
More details surrounding the publishing, distribution and franchising arms of Snakes & Lattes Inc. as well as other corporate developments can be expected shortly.
For more information regarding the company please visit www.amfiltech.com and follow us on twitter for further updates from the company @AmfilTech.
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