Amfil Technologies Inc. Announces Fiscal Q1 2018 Revenues up
20,619% Year Over Year to $5,900,346 Setting A New Quarterly
Financial Record For The Company
Toronto, ON -- October 23, 2017 -- InvestorsHub NewsWire --
Amfil Technologies Inc. (OTC PINK: AMFE) is pleased to provide our
shareholders with a summary of our Fiscal Q1 2018 Financials and
provide an update on Fiscal Q2 2018 progress thus far.
Amfil Technologies Inc. posted revenues of $5,900,374 for our
Fiscal Q1 2018 up 20,619% from Fiscal Q1 2017 which posted $28,477
in total revenue. The company saw a gross profit of $1,041,121 and
a net income of $114,106. The company as at FY Q1 2018 being
September 30th 2017 had $297,748 in cash, $4,286,000 in inventory
and $6,734,935 in total assets. As of today, the Public Float held
with DTC is 285,504,206. Common Shares Outstanding is 488,797,586
and the Authorized Share Count has been reduced down to 600,000,000
from 900,000,000.
The company has been heavily reinvesting profits to fuel its
expansion since Fiscal 2017. The significant profit increases
posted in our recent Q1 2018 financials are a direct result of
reinvesting profits to aggressively expand the Snakes & Lattes
distribution business last year.
The company continued to reinvest profits into the expansion of
operations through Q1 2018. Staff training, construction,
administrative, and general expenses have been increased due to the
upcoming opening of the new 'Midtown' Snakes & Lattes location.
This has resulted in the net income being temporarily suppressed,
yet still profitable as we position the company for increased
revenues and profitability moving forward. The increased staff
training costs, and a large portion of the general and
administrative costs will be optimized once the 'Midtown' location
begins generating revenues, which is expected in the coming weeks,
resulting in increased profitability and net income.
The Fiscal Q1 2018 revenues have made a powerful statement. The
revenue and gross profit numbers truly confirm the effectiveness
and sustainability of the company's growth strategy. The company
remains on a clear upwards trajectory with increasing momentum in
terms of revenues, profits, expansion, and diversification of
revenue streams. The company continues to post quarter over quarter
growth, which have now almost paralleled revenues of our most
recent entire Fiscal Year End. Combined with the aggressive
expansion of all business divisions, the company has positioned
itself for continued growth and increased profitability throughout
Fiscal 2018 and into the foreseeable future.
Highlights from Fiscal Q1 2018
- Purchase Order Commitment for the GRO3 and Roto-Gro Units
valued at an estimated $1.15 Million for 40,000 sq
ft cultivation project.
- Purchase Order commitment for GRO3 and Roto-Gro units for
a developing 14,000 sq ft cultivation facility. Value of
order is estimated at $2.5Million.
- Announced the Franchising of Snakes & Lattes Inc.
Released the map of available franchise locations and
target locations for corporate expansion.
- Sold first 2 franchise locations - Hamilton
and Kitchener/Waterloo Ontario
- Completed 300M Authorized Share Count Reduction
- Opened hundreds of new accounts for the distribution
division. Distribution sales continue to surge.
- Received Signing Bonus of $200,000 and First Exclusive
Publishing & Distribution Contract
- Announced the recruitment of successful Hollywood graphic
designer, We Engaged for Graphic Design of game art for the
Snakes & Lattes publishing division.
- Ben Castanie Added to Board of Directors
The overwhelming support from the local community, business
partners, and the investment community has defined our progress,
and continues to fuel the company as it propels itself into new
markets and business activities. We would like to take this time to
once again thank those who have supported us through the company's
progress and again reaffirm our commitment to continue the growth,
expansion, and delivery of value back to our shareholders.
Stay tuned for a number of significant updates over the coming
weeks as we accelerate into 2018. Key developments in the near
future will include;
- The franchising and expansion of the Snakes & Lattes
subsidiary
- Grand Opening of Snakes & Lattes
'Midtown' location
- The cultivation facility projects being supplied by the
GRO3 team
- Audit completion and uplist to OTCQB/OTCQX
- The spinoff of the Interloc-Kings Inc subsidiary into a
separate public entity in which current shareholders will
receive share dividend.
- Multiple strategic acquisitions
For more information regarding the company please visit www.amfiltech.com and follow us on
twitter for further updates from the company @AmfilTech
For more information on Snakes & Lattes Inc. please
visit www.snakesandlattes.com
For more information on GRO3, please visit gro3systems.com
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 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. 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 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. More information on
this product line can be found on the www.gro3systems.com website 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 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 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.