Toronto, ON -- May 21, 2018 -- InvestorsHub NewsWire -- Amfil
Technologies Inc. (OTC Pink: AMFE) is pleased to report a 35%
increase in year over year Fiscal Q3 Revenue at $2,445,949, up from
$1,809,064 for Q3 2017, with gross profits up from $827,874 to
$1,450,649.
Cash on hand at the end of the quarter was $321,266 with total
assets of $6,937,823 over total liabilities of $6,792,753. The
total outstanding common share count of the company reduced during
the quarter from 494,523,748 on January 1st 2018 to 479,253,160 on
April 1st 2018.
Comparative year over year growth for the quarter saw a 35%
increase despite Q3 being the company’s historically slowest
quarter. The January to March quarter is not usually a large
quarter for distribution which is a large part of the company’s
overall revenue stream and is also affected by returns on holiday
items, redemption of gift cards, and the industry-wide attendance
dips during the post-holiday season, all which effects the bottom
line.
The new Snakes & Lattes Inc. location, “Midtown” did not
receive its liquor license until March and therefore did not
contribute its full potential to the quarters bottom line. Having a
35% comparative growth rate within fiscal Q3 despite this reaffirms
the growth trajectory the company is on. Moving into the end of the
calendar year, sales historically increase dramatically and having
‘Midtown’ now fully operational for the full April to June quarter
contributing to the top and bottom line should allow for larger
growth into the calendar year end numbers and on into the
future.
Expenditure on future initiatives during the quarter increased
both financially and in staffing time and cost to bolster growth
initiatives even further which the company expects to begin to bear
fruit into the end of the 2018 calendar year. The Company mentioned
the pursuit of the Morning acquisition which will significantly
contribute to the distribution and publishing arm of the Snakes
& Lattes Inc. business with new in-house developed titles and
new presence in the European markets. The company expects this
acquisition, once closed, to immediately impact the financial
statements in a large and positive way. This acquisition is being
structured as an all cash deal and is expected to close before the
end of this month.
The Company has also recently announced the 4th Snakes &
Lattes bar/cafe location set to open in Tempe, Arizona. This
initiative which is currently underway with an expected grand
opening set for a late summer before back-to-school season for all
the colleges and universities in the Tempe area. The company
expects this location to also have an immediate and positive impact
on the financial statements moving in to the close of the calendar
year 2018.
The Company is working on a number of promising initiatives
across all subsidiaries which in turn is expected to continue to
impact positively on the yearly aggregated growth of the company.
The Company anticipates continued and consistent year over year
growth as we continue to expand operations and increase revenue in
existing business arms. As the audit process finally draws itself
to a close, shareholders can expect continued updates in the near
future on the immediate post-audit up-list, and the further
collection of initiatives mentioned and additionally those
currently being worked on behind the scenes by the company and its
subsidiaries.
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
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. 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 the www.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 website www.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.
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.
Contact: Roger Mortimer Amfil Technologies Inc. Telephone: (647) 880-5887 Email: ir@amfiltech.com
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