TORONTO, ON--(NewMediaWire - May 8, 2017) - Amfil Technologies,
Inc. (OTC PINK: AMFE) is pleased to provide the shareholders
and investment community an update regarding our Q3 2017 financial
statements posted today.
- Revenues of $1,809,064 despite Q3 2017 historically being
the slowest calendar quarter for the company's subsidiaries.
This is up $266,675 or 17% compared to last quarter which
is historically the best calendar quarter (the Christmas &
Holiday Quarter).
Inventory increased $1,455,592 or 43.2% to $4,825,173 in Q3
2017 in comparison to $3,369,581 in Q2 2017 in preparation of
expected future fulfillment and sales contracts throughout
2017.
Issued & Outstanding common share count reduction of 43.8%
from 791,919,764 to 444,807,264.
Total Assets increased $1,376,652 or 27.5% from $5,007,437 in
Q2 2017 to $6,384,089 in Q3 2017.
Visit www.otcmarkets.com/stock/AMFE/filings for
the full Q3 report.
The company saw a 17% increase in revenues from $1,542,389 in
fiscal Q2 2017 to $1,809,064 in fiscal Q3 2017. This is quite
significant considering that Q2 (the Christmas and Holiday period)
is historically the best performing quarter for the company's
subsidiaries and this was beaten in what is known historically to
be the slowest calendar quarter for the subsidiaries. This is very
promising and on pace with our expectations of continued rapid
growth and expansion for Amfil Technologies, Inc. and its group of
companies.
January to March is usually a slow quarter for retail sales and
therefore lower margins due to a significant portion of revenue
being received through Amazon and other lower margin purchasing
outlets. Returns and markdowns following the holiday season
historically had a large impact on the fiscal Q3 numbers produced
by Snakes & Lattes Inc. The fact that fiscal Q3 2017 revenues
surpassed that of the high margin retail sales holiday quarter of
fiscal Q2 is just one of many confirmations of the company's
expected and continued growth over the next two calendar quarters
and into the 2017 Holiday quarter leading the company to expect a
blockbuster year.
Net profit of $28,803 and cash at closing of $64,870 being lower
in comparison to the previous quarter is a combination of the above
factors as well as a large portion of profits being injected into
the new third Snakes & Lattes Inc. location opening this summer
in Toronto, ON near Yonge & Eglinton. Pre-paid expenses
increased to $213,895 and deposits on the lease as well as for
construction which is now under-way contributed to these numbers.
The company intends to be aggressive on the timeline of opening the
third Snakes & Lattes location as it will immediately and
dramatically increase numbers throughout the rest of 2017 and
beyond. Instead of sitting on cash, the company is utilizing the
increased revenues to fuel further growth and expansion at the
highest rate we can comfortably support. This ensures continued
revenue growth long term and maximum value to our shareholders.
The excitement continues to flourish at Amfil Technologies, Inc.
across all of our subsidiaries. The immediate positive impact to
the financial statements through the Snakes & Lagers Inc. /
Snakes & Lattes Inc. acquisition last year has been paramount
to the company's bottom line. The subsidiary continues to impress
through the expansion of the retail division and the rapid growth
in the distribution business. We are positive and excited to see
what the coming quarters will bring as the expansion and growth of
this thriving subsidiary continues.
Further to the overwhelming success of the Snakes & Lattes
brand, the Interloc-Kings Inc. subsidiary is beginning its summer
season and has many unique and exciting projects lined up for the
coming months that will add to the bottom line. The recent
explosion of interest in the EcoPrO3 GROzone Antimicrobial System
has opened up strategic relationships and multiple ongoing
discussions with potential near term customers for the subsidiary.
The Amfil management teams are anticipating a monumental 2017,
setting a benchmark which we will continually strive to beat year
over year through consistent growth and expansion of the Amfil
Group of Companies.
We would like to thank all of our shareholders for their
continued support as the company continues to expand and grow
revenues, profits and shareholder value. Stay tuned for further
developments from our operating subsidiaries in the near
future.
For more information on Amfil Technologies, Inc. please visit
our website at www.amfiltech.com or follow us on twitter
at @AmfilTech.
About Us
Amfil Technologies, Inc. is the parent company to three wholly
owned subsidiaries.
1). Snakes & Lagers Inc. holds the trade name and is the
owner of Snakes & Lattes Inc. which currently operates a 6,000
sq. ft. and a 7,500 sq. ft. tabletop gaming bar and café located in
Toronto, Ontario that brought in over $7M CDN in revenue last year.
It is in the process of opening a third location at 10,000 sq. ft.,
the largest to date. Snakes & Lagers Inc. is also the
procurement officer of all existing and future Snakes & Lattes
Inc. franchises and has the exclusive rights to sell franchise
locations globally. Snakes & Lattes Inc. was the first board
game bar and café 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 90 member staff and recently
acquired the exclusive distribution rights throughout Canada for
some of the most popular board games in the world such as Cards
Against Humanity and Exploding Kittens. BlogTO.com recently named
Snakes & Lattes Inc. the best late night café in Toronto and
has also been named the best fulfillment house in Canada by Jamey
Stegmaier, the most influential blogger within the board game
fulfillment sphere. For more information on Snakes & Lattes
Inc. feel free to visit the website at www.snakesandlattes.com
2). The EcoPr03 GROzone 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 GROzone
Antimicrobial System recently passed product review by a registered
USDA certifying agent for use in California as well as Pennsylvania
and surrounding states. More information on this product line can
be found on the www.grozone.biz website.
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
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 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.