I’ve been pretty frustrated lately, but truth be told, the company released a bombshell back on January:
Amfil Technologies Inc. Announces 3 New US Based Snakes & Lattes Cafe/Bar Locations In Progress and Additional Locations in Planning Stages
Press Release | 01/10/2019
Snakes & Lattes Inc. is pleased to announce that it has selected a venue and received commitment from a joint venture partner, and funder, for a new Snakes & Lattes location in Orlando, Florida. The Company has found a suitable corner unit, in a prime entertainment district which has become available and the Company is in the process of firming up this location. Further details regarding this location will be provided prior to the end of this month.
As previously announced, a JV partner and funder have been secured to open a Snakes & Lattes location in Charlotte, North Carolina. Originally, we had selected a potential location, however since then 2 additional locations have become available which management felt were potentially more suitable for a Snakes & Lattes café. Ben Castanie and Aaron Zack have travelled from Toronto and will be arriving in Charlotte this Thursday, January 10th, 2019 to view all three potential locations alongside the JV partner and funder, to ascertain which location would be most ideal for the café given the target demographic and business specific criteria to ensure the business’s success.
Assuming all goes as planned and the locations are secured, the company expects to begin construction on these 3 additional cafes this spring, bringing the total number of Snakes & Lattes locations operational or under construction from 4 to 7 within the first half of 2019.
Additionally, the company continues to pursue a number of locations to increase café openings for 2019 even further. As previously mentioned, the company already has a partner and funder prepared to open a location in Denver, Colorado as soon as an appropriate location becomes available. The Company adheres to strict criteria in terms of selecting a location to ensure success and finding the correct location to target its demographic has proven to be well worth the wait.
We have the same situation in Fort Collins, Colorado. The funder has provided confirmation of intent to fund and is ready to go as soon as a suitable venue can be secured. We have targeted a specific area in the city which would allow us to directly service our target demographic, but given the popularity of the area, vacancy rates for venues in the area are low. We are monitoring the situation closely and will be alerted once something becomes available.
Again, management is firm in their view that it is better to follow the strict criteria, and wait for a prime location, rather than rush an opening in a lesser ideal location and risk failure. Fortunately, the company has forged close relationships with JV partners and funders prepared to pull the trigger as soon as target locations becomes available in multiple cities.
Furthermore, the Company is currently negotiating with funders and/or potential landlords in 17 other US cities which are at earlier stages of the development process. Many of these cities are also just waiting for the right venue to become available, otherwise everything else has been organized. This could happen at any time; however, they have not progressed to that point yet. The company will provide further updates relating to these potential locations as the deals continue to develop and as venues become available.
Since the successful launch of the first US based location in Tempe, AZ, it appears that 3 additional US based locations are likely to begin construction very soon, and as 2019 progresses that number could increase significantly. The Company looks forward to the continued expansion of its highly popular Snakes & Lattes cafés throughout North America and expects the frequency of new openings to increase continuously for the foreseeable future.
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With a higher revenue, a higher PPS will come, and new locations will push revenues to ever new highs.
Also, every day that passes is a another day that looms ever closer to the release of our first self published games. These games could become a great boost to our revenue. Even if they don’t, they will become another source of revenue for us, which is never bad.
Plus the new Purchase Orders for the GRO3 systems...those things aren’t cheap. Numbers ought to be much better than past numbers reported until now.
AI
