Amfil Technologies Inc (FUNN)

[jrf30]

"Dilution is the bull in the China shop has been for years"

I think we read things over and over and over and over again on this board and then because we read it so often we think it is actually true. But that does not mean that it IS true.

Dilution. Not from the board, not from statements, but from the annual reports.

OUtstanding shares, as of

6/30/15 - 662,493,098
6/30/16 - 664,493.098
6/30/17 - 473,895,499 (because shares exchanged into preferred)
6/30/18 - 482,253,160
6/30/19 - 495,916,324
6/30/20 - 580,575.767 (And shares used to pay for Tempe and tucson, so we could EXPAND)
6/30/21 - coming to us soon. More expansion, as we paid for Chicago, but if we expand shares and GROW from that expansion, it is not a bad type of dilution.

I can't answer as to why preferred shares were given out earlier this year, and think that was bad, but overall? SHow me where dilution has been the bull in the china shop for years and years. It's just not true, in spite of what you read about it happening so rampantly. They used shares to expand form 2 locations to 7 locations, so now that we are starting to fire on all seven cafes we shall show more revenue and I predict in THIS fiscal year a NET positive quarter or two. Turning the corner because of the extra cafes, and that cost us to open them, which is what you are calling dilution.

NOt bad though on the heavy dilution people think has happened.