Amfil Technologies Inc (FUNN)

[BubbaInSC]

More Likely 0 Cafes Coming For CY2023 Here's Why

FUNN has no cash or common shares to give to any potential suitor.
FUNN is unable to secure any low interest small business loans due to active liens

Noone who is in their right mind would strike a deal with existing FUNN execs when they realize
that they have demonstrated that they don;t know how to run a restaurant, and don't know how to run
and operate a publishing company, distribution company, MJ company, Gro3 equipment company.

But hey, dey got shoveling and pavers down pat.....lol

Look at their tweet on the alleged 2 funded cafes that are allegedly pending closing SINCE 2021 - ROFLMAO

GROWTH VIA TAKING OVER BANKRUPT CAFES IS A BAD BUSINESS MODEL BECAUSE FUNN HAS NEVER BROUGHT A COMPANY OUT OF BANKRUPTCY TO POSITIVE NET PROFITABILITY - EVER.

Guelph is an example. Now shut down.
LA never happened.
Provo will likely be next. Alcohol is the biggest contributor for revenue and moving towards positive net profitability. IMO, StupidAF to operate a restaurant in A DRY TOWN.

If FUNN is truly interested in moving cafes to positive net profitability, they will likely need to CLOSE Provo, ChiTown, and two Toronto cafes.

oh, and get rid of their active liens by paying the $$ that they owe. When do the monthly payments end??2032??? ???? RFLMAO How much do they owe? What were the IRS penalty amount? No positive net profits for Tempe and Tucson any time soon.

Can you elaborate on tax liens on Tempe and did it play into not getting the LA location?
Tempe has 2 tax liens: One from the Arizona department of Revenue and one from the IRS. We have negotiated reasonable payment plans and are following them to the letter. Completion of repayment is one requirement prior to engaging in larger financing rounds. The LA location was not connected to this in any way.

The doo doo is deep.
https://www.snakesandlattes.com/shareholders-faq

Are you planning to expand more this year, or strengthen the existing cafes first?
A significant focus is on achieving profitability at all existing locations. That said, at any given time we are in various stages chatting with board game cafe or bar owners concerning new opportunities / conversions. This is simply an active activity that is part of the management team's life. Recognize we look and explore a number of opportunities before we find one that moves forward. For Example, In 2021 spent time reviewing 9 different deals and closed on what led to the Provo, UTAH acquisition in early 2022. There are two locations in particular that seem very promising and are funded pending both parties closing. We strive to maintain strict criteria on size, location and equipment. The financials need to make sense, and as we have seen, the landlord must be amenable.