TORONTO, ON--(NewMediaWire - May 30, 2017) - Amfil Technologies Inc. (OTC PINK: AMFE) announced late last year that we had developed and intended to execute on a 2017 Growth Strategy to expand the company via the development of our existing subsidiaries, strategic partnerships, acquisitions, the development of our technologies and general market reach. We are now nearly at the halfway point into 2017 and are pleased to provide a general six month summary of the results we have achieved so far under the strategy and has been publicly disclosed to date, with further accomplishments and updates to be announced shortly. We also provide brief updates on operations which have been mentioned but not elaborated on further as of yet.
Amfil Technologies Inc. (AMFE) highlights the last 6 months:
- The recently acquired Snakes & Lagers Inc. and Snakes & Lattes Inc. subsidiary posted over $7.35M CAD in revenue with $1.6M CAD in gross profits last year.
Back to back quarterly revenue increases of 4500% and 26,600% respectively past two quarters year over year.
Completed a 47% reduction in our Issued and Outstanding Share Count
Received exclusive distribution rights in Canada and other international regions to a number of the most popular and well known board game titles in the world.
Expanded warehouses total capacity and increased staff to accommodate the expansion.
Increased inventory to over $4.8M in preparation for the expected near term purchase orders.
Received the largest purchase order to date for exclusively held titles in Canada from Indigo / Chapters.
Began shipping game products for the $1.25Million CAD deal with large retailer.
Set-up working relationship with Cineplex/Rec-Room
Working with Nintendo Canada on developing Nintendo Switch game nights at the Snakes & Lattes Inc. locations.
Partnered with U.S. Fulfillment Houses Game Salute, Cool Stuff Inc., funagain.com
High Volume retail sales continues through Amazon
Mill Street Brewery developed Secret Alliance beer in conjunction with Snakes & Lattes
Snakes & Lattes became popular location for the television & film industries, hosting shows such as Property Brothers.
Signed 10 year lease and began construction on the 3rd Snakes & Lattes Inc location for Toronto which will be the largest to date at approx. 10,000 sq. ft. with outdoor patio.
Increased staff from 90-100 employees with short term goal of approximately 160 by July.
The GROzone mPact Antimicrobial System was rebranded to EcoPrO3 and added upgrades including; All stainless-steel construction; Greater flexibility to scale system up or down, depending on facilitys application requirements; Ability to integrate into existing facility monitoring/control systems; Ability to control/monitor remotely via the internet.
Added talent to sales and marketing teams to drive sales and brand exposure.
Signed agreement with Roto-Gro International (ASX: RGI) to integrate and distribute the GROzone EcoPrO3 system with the Roto-Gro hydroponic systems. Further updates relating to the agreement will be announced as the deal progresses.
GROzone EcoPrO3 passed product review through Pennsylvania Certified Organic.
Received patent pending number #62472210.
Ku-Kum opening covered by CBCs The National.
Selected RBSM as our auditors to continue where our previous auditors left off from the filed 2014 10K to become fully reporting in order to automatically uplist to the OTCQB with intention to move up to OTCQX once our share price supports the move.
Initiatives mentioned, but not yet expanded on in the past 6 months:
- Retiring 20 Million additional shares from the issued and outstanding share count. We are in the process of retiring the 20M shares from the outstanding in exchange for preferred.
Infused Vodka, Wine and Gin company. This potential acquisition is a brand of infused spirits which has already achieved one of the most difficult tasks in the alcoholic beverage sector, being awarded shelf space in major alcohol retailers in Canada (LCBO). The company is still in the due diligence phase of this potential acquisition and is further analyzing potential for cross synergies with existing subsidiaries. We will provide our investors with further details and a final decision once this is reached.
The 10 acre property being developed for a marijuana grow facility in California. Amfil has continued discussion with the public company who is developing the grow facility on the California property. There are a number of potential initiatives being discussed with this company, including but not limited to, a purchase order to have the entire facility outfitted with the EcoPrO3 Antimicrobial Systems. Further details relating to this venture will be released as they develop.
Acquisition of a company that would assist with synergizing the internal workings of each subsidiary to prepare for large scale expansion and franchising opportunities -- This company specializes in processes that automate the completion of financial reporting, tax compliance and streamlines the large scale purchasing, accounts receivable / payables and the many other systems needed for multiple locations and businesses. Related to this, a software suite which includes wait-list management, tip pooling, employee scheduling, pay software, shipping, inventory and most importantly the POS system has been internally developed and perfected. This acquisition deal is still in the works, and management has set a benchmark of having 5 Snakes & Lattes locations up and running before completing this acquisition and beginning to franchise the brand.
The company would also like to take this time to thank our shareholders for their continued support. We highlight our successes over the past 6 months, but more importantly look to further increase the momentum, growth, revenues and profits moving forward. We intend to continue to execute the company's growth strategy and to deliver maximum value back to our shareholders quarter after quarter and beyond. The company has a number of major initiatives in the works which we believe will significantly impact the bottom line and resultant shareholder / market value. As always, we will maintain consistent and transparent communication with the investment community relating to the company's plans, developments and achievements through the second half of 2017.
For more information regarding the company please visit www.amfiltech.com and follow us on twitter for further updates from the company @AmfilTech
For further information on our subsidiaries please visit;
www.snakesandlattes.com, www.grozone.biz, www.interloc-kings.com
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 cafe located in Toronto, Ontario that brought in over $7M CAD 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 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 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 cafe 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
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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.