Toronto, ON -- February 15, 2018 -- InvestorsHub
NewsWire -- Amfil Technologies Inc. (OTC: AMFE) is pleased to
provide our shareholders with a summary of our Fiscal Q2 2018
Financials.
Revenues were up over 114% fiscal year over year from $1,542,389
in Q2 2017 to $3,307,549 in Q2 2018. Cash on hand as at December
31st 2017 was $352,213 with $74,484 in Prepaid Expenses, $484,243
in Accounts Receivable, $2,927,595 in Inventory and $2,742,279 in
Property & Equipment putting the company at $6,580,814 in Total
Assets. The company ended the quarter profitable with $1,518,337 in
Gross Profit which was heavily reinvested in the construction,
staffing, and general/admin costs associated with the opening of
‘Midtown’, the largest location to date, leaving a net income of
$88,766.
Q2 has historically been the largest revenue generating quarter
for the Snakes & Lattes Inc. subsidiary which currently has the
largest impact on the overall company’s financial statements. This
year however, some retailers placed larger orders through the
distribution arm in Q1, and these orders were received, fulfilled,
and shipped during the first fiscal quarter resulting in Q1
absorbing the majority of the holiday sales spike. These increased
purchase orders from a few large retailers in Q1 ended up being
their holiday season stock and therefore the re-orders did not
appear in Q2 but are anticipated for Q3 and Q4. The Q2 revenue
numbers also do not include a number of large sales made during the
quarter, where the contract was not fully completed or fulfilled by
the end of the quarter and therefore not recognized in Q2.
The company remains on an upward trajectory, with revenues
exceeding $9M only two quarters in to Fiscal 2018 thus already
surpassing the entire 2017 Fiscal year by 39% or over $2.5M
USD.
The Snakes & Lattes ‘Midtown’ location soft launched in the
final few weeks of the quarter and therefore did not contribute to
revenue in any significant way. The location is now fully
operational and generating revenue as anticipated which should
significantly contribute to increased retail revenues for Q3 and
beyond. A number of US and Canadian franchise and joint venture
initiatives have already been capitalized on and there are more in
the works. We therefore anticipate further positive impact moving
forward as additional retail locations continue to open this year.
With revenues doubling year over year in Q2 without the impact of
Midtown, and the exclusion of partially filled contracts at end of
quarter, it clearly shows the growth of the distribution side of
the business which has become a large focus in the recent past. The
distribution arm of Snakes and Lattes Inc. continues to ramp up and
a number of new accounts have been recently added. We will be
making some announcements in the near future regarding the overall
expansion and behind the scenes progress of the Snakes & Lattes
Inc. subsidiary.
The acquisition of Natural Stuff Inc. was completed midway
through the quarter and only minimally contributed to overall
company revenues. We are anticipating this subsidiary to grow and
expand moving forward as a result of a number of major achievements
made since the acquisition. A number of new accounts have recently
been opened by Natural Stuff Inc. and additional product lines have
been added to the pipeline of distributed products. Further details
related to this subsidiary will be made public in a detailed and
stand alone press release in the near future.
A number of updates can be expected on the GRO3, Snakes &
Lattes Inc, and Natural Stuff Inc subsidiaries before the end of
the month and throughout the month of March. We are still awaiting
the finalization of the company audit in order to uplist. After
recent discussions with the auditors, we are expecting completion
of audit and uplist very soon.
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 atwww.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 thewww.gro3systems.comwebsite 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 websitewww.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 MortimerAmfil Technologies Inc.Telephone: (647) 880-5887Email: ir@amfiltech.c