Amfil Technologies Inc (FUNN)

[RMEG]

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Amfil Technologies Inc. Provides Shareholder Update On The Company Audit / Uplist Process
Jan 31, 2018
OTC Disclosure & News Service

Toronto, ONT, Canada -

Amfil Technologies Inc. (OTC Pink: AMFE) would like to provide the following update to the shareholders regarding the upcoming audit filing and resultant up-list within the OTC Market Exchange.

Throughout the month of January 2018, the company has been preparing itself for the completion of the audit that has been taking place over the last few months covering the last 3 years of financial statements. As mentioned previously, this is a necessary step in order to up-list to the OTCQB and OTCQX exchanges and was our first step towards the future spin-off and share dividend back to existing shareholders.

On January 19th 2018 the company submitted through the OTC Market filing and disclosure service which is viewable here > https://www.otcmarkets.com/stock/AMFE/filings the OTCQB Certification documents which was the first step in the up-list process. This was done in order to fast-track the up-list process once the audited statements were uploaded as we knew they were not yet ready at that time but wanted to expedite the process as much as possible. As of January 30, 2018, OTC Markets is now awaiting upload of the audited statements.

Based off prior discussions, we were hopeful and anticipated filing these statements on January 31st 2018 to complete the process however following an email and conference call with the auditors yesterday we still have a few information requests and modifications before we can submit. We are working diligently to get these items off of the checklist and complete the process. We are very close to finally putting this initial 3 year audit application behind us. Moving forward, annual audits and if needed, quarterly reviews are much less encumbering and time consuming compared to this first multi-year audit.

The process has taken longer than expected. That being said, while the audit process continued, the company has also continued to execute the business plan that produced the successful expansion and growth in the quarterly and year end financial statements throughout 2016 and 2017. We are very happy with where the company is today, the strongest it has ever been.

Statement from Roger Mortimer, President & CEO of Amfil Technologies Inc:

"I can understand some frustration from shareholders with regards to the completion of the audit and up-list process and I want everyone to know that it is equally as frustrating for myself and the company. Third-party timelines and expectations can sometimes be a bit fluid, but at the end of the day, it gets done. I liken the audit delay to the Midtown construction delay. At the time it was extremely frustrating, however once completed the stress and frustrations were forgotten. Midtown opening later than expected was a difficult time, but now, that really is such a small blip in time considering how much Midtown is adding to the top and bottom-line and has increased the company presence and brand awareness. The audit is a non-issue as it relates to internal company and subsidiary success, but having the process complete and up-listing off the pinksheet tier is indeed a relevant issue with regards to current and future shareholders and the markets perception with regards to openness and transparency. I am very excited for the audit completion to further validate and verify the massive successes in terms of overall growth including earnings. I want to leave off by adding a comment on transparency; The company has always strived to be very transparent. Part of being transparent is disclosing estimated timelines provided by third parties in certain scenarios. The alternative to providing these estimations and having shareholders see and experience the progression of initiatives along with us, is to say nothing regarding large events and how we are working through the process. For example, no pictures of Midtown progress throughout construction and no updates on audit progress and estimated completion dates. We cannot be both transparent and guarantee finish dates that are being given to us by third parties. We have chosen, and I stick to choosing to be as transparent as possible, as I value and work only for the interest of our shareholders. When we hear of a delay from a third party, our shareholders hear of that delay, if we hear of a positive accomplishment sooner than anticipated, our shareholders hear of the accomplishment as well. No filters. For the good or the bad, we share in the excitement and frustration together. The good thing is, there are very few situations on a yearly basis where we have to rely solely on third parties as can be seen by the list of accomplishments of 2017. I will leave off with the fact that the same way everyone experienced frustration with Midtown opening late, it opened, and look at what it is doing for the company today. The delay is long forgotten and the positive attributes of having the location up and running, being the flagship of the business and adding millions in revenue to the company financial statements is what is remembered today. The audit will be completed, the up-list will happen and the extended completion time will be long forgotten. What will remain, be talked about and remembered, is a great company, rife with great leadership, astronomical revenue growth, flush with horizontal and vertical integration expansion and opportunities that are being capitalized on; as well as a market that will not overlook who we are as a company and what we have done in a short period of time and stand to accomplish in the future based off what was accomplished in the past. We thank you for being a part of this great company, lets have a great 2018!.

As for the audited financials, the company will work through the final information that is required for completion and when complete will be submitted. The company is not going to pass on an estimated time frame or suggest that it could be completed Friday, or next week Wednesday or any other guidance on this specific matter any further. Upon completion it will be submitted after hours on the day of completion. The company will get back to more frequent updates going forward, beginning in the month of February to highlight the ongoing accomplishments and achievements that have recently developed and those that are currently progressing. We would like to thank our shareholders for their patience through the audit process, and look forward to continued delivery of shareholder value as we continue into 2018.

A number of updates can be expected from Amfil Technologies Inc. and its subsidiaries in the near future.



For more information regarding the company, please visit www.amfiltech.com and follow us on Twitter for further updates @AmfilTech.

For more information on Snakes & Lattes Inc. please visit www.snakesandlattes.com

For more information on GRO3, please visit http://gro3systems.com/

For more information on Natural Stuff Inc, please visit https://www.naturalstuffinc.com/

For more information on Interloc-Kings Inc, please visit http://www.interloc-kings.com/



About Us:

Amfil Technologies, Inc. is the parent company to four wholly owned subsidiaries.

1). Snakes & Lagers Inc. holds the trade name and is the owner of Snakes & Lattes Inc. which currently operates 3 tabletop gaming bars and cafes located in Toronto, Ontario that brought in over $7M CAD in revenue last year. The company is in the process of franchising throughout North America. Snakes & Lattes Inc. was the first board game bar and cafe in North America, is believed to be the largest in the world and have the largest circulating public library of board games in North America for customers to choose from. Snakes & Lattes Inc. currently has a 100+ member staff and recently acquired the exclusive distribution rights throughout Canada for some of the most popular board games in the world. The company also operates a lucrative fulfillment and distribution division and has recently entered into the board game publishing business which is expected to add significant revenues to the bottom line. For more information on Snakes & Lattes Inc. feel free to visit the website at www.snakesandlattes.com.

2). The EcoPr03 GRO3 Antimicrobial System was jointly developed between Amfil Tech and A.C.T.S. Inc. which recently rebranded its technology under Advanced Ozone Integration as an extension of the existing ozone technology being utilized in the food and beverage industry and integrated by A.C.T.S. into companies such as Pepsi, Nestle, Sysco, Sun Pacific and many others. The system is a triple-function sanitization unit capable of naturally eliminating 99.9% of water and airborne pathogens and the typically problematic pests that wreak havoc for cultivators (like aphids, whiteflies and spider mites), as well as bacteria, fungus, microbes and mold on surfaces, all without chemicals. The unit can also constantly regulate a given facility's water supply, oxygenating the water and maintaining a consistent PPM infusion of ozone that prevents the formation of algae, bacteria or mold (allowing for comprehensive water recycling), simultaneously removing the need to use pesticides and/or dangerous, often carcinogenic products to treat production problems, as is common throughout the industry today. This environmentally-friendly solution also eliminates odors, while slightly reducing the air temperature, lowering energy consumption by the HEPA filtration and HVAC systems and could potentially allow for a facilities process to be labeled certified organic in the U.S.A. when the crop is no longer considered illegal on the federal level, otherwise "Clean Green" or "Certified Kind" in the meantime. The EcoPr03 GRO3 Antimicrobial System recently passed product review by a registered USDA certifying agent for use in California as well as Pennsylvania and surrounding states. The subsidiary has developed a strategic partnership with Roto Gro, the creator of proprietary rotary hydroponic technology. More information on this product line can be found on the www.gro3systems.com website or on twitter @GRO3Systems.

3). Interloc-Kings Inc. is a hardscape construction company servicing the Greater Toronto Area. This subsidiary is an authorized Unilock installer, Unilock being, North America's premier manufacturer of concrete interlocking paving stones and segmental wall products. Interloc-Kings Inc. has an A+ Rating with the Better Business Bureau (BBB) and a 10/10 rating on homestars.com. Specializing in stone and wood installations between $5,000 and $150,000 per project, Interloc-Kings Inc. has quickly become a top, high quality installation company of outdoor living areas in the GTA. More information on this subsidiary can be found at the website www.interloc-kings.com.

4) Natural Stuff Inc. For over 20 years, Natural Stuff Inc. has been distributing high-quality, value products. Since 1994, the business and delivery system have been satisfying grocery, chain, discount department, and convenience store customers. Wholesalers, vending and catering services are some of our best clients. Natural Stuff Inc. is always searching for new and exciting snack food & drink products to boost in-store sales and drive business and is growing every day.





Safe Harbor Statement

This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results, new features or services, or management strategies) and other factors discussed from time to time in the Company's OTC Market or Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "confident," "intend," "plan" and other similar expressions. Our actual results, such as the Company's ability to finance, complete and consolidate acquisition of IP, assets and operating companies, could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the company such as a result of various factors, including future economic, competitive, regulatory, and market conditions. The company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.



Roger Mortimer

Amfil Technologies Inc.

Telephone: [phone]

Email: [e-mail]

Copyright © 2018 OTC Markets. All Rights Reserved


The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.


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