Amfil Technologies Inc (OTCMKTS: AMFE) has been running up the charts in recent days from a start point of $0.08 to recent highs near $0.15. The stock has also transformed to become one of the most traded stocks on the entire OTCBB.
AMFE is one exciting story in small caps! The Company just announced they completed an audit with RBSM LLP that shows revenues for fiscal 2017 total $8,168,251. Incredible numbers indeed for any pink sheet Company. AMFE also stated it has submitted the required documentation to OTC Markets to up-list to the OTCQB Venture Market and anticipates the up-list to be approved and completed in the coming weeks
Amfil Technologies Inc (OTCMKTS: AMFE) is the parent company to four wholly owned subsidiaries including Snakes & Lagers Inc., The EcoPr03 GRO3, Interloc-Kings Inc. and Natural Stuff Inc.
The big story on AMFE is Snakes & Lagers 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 through Snakes & Lattes Publishing SAS which recently acquired Morning games in France, which is expected to add significant revenues to the bottom line in the future.
Other PYTG subsidiaries include the EcoPr03 GRO3 which 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.
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 has quickly become a top, high quality installation company of outdoor living areas in the GTA. 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.
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AMFE just put out some EPIC numbers! Audited revenues for fiscal 2017 now shows a total of $8,168,251, a difference to the upside of $1,637,278 compared to the unaudited statements previously filed showing $6,530,973. This was due to an inputting error that consolidated certain transactions using only the net revenues as opposed to both the gross and the net.
The company also said it has submitted the required documentation to OTC Markets to up-list to the OTCQB Venture Market and anticipates the up-list to be approved and completed in the coming weeks. The company has worked out an agreement with OTC Markets where payments made to the exchange will be pro-rata and applied to the application and listing fees if/when a second up-list occurs this year to the OTCQX Best Market.
the completion of the audit and subsequent up-list will allow for the previously announced spinoff of the Interloc-Kings Inc. subsidiary. In conjunction with the spin-off, shareholders will be awarded with a special dividend in the newly formed entity based upon their holdings in Amfil Technologies Inc (AMFE). This initiative has been developed to fuel the growth for each subsidiary and will provide a well-deserved bonus to the shareholders who have held strong and supported us through this period of growth and development. Specific details relating to the spinoff, including the record-date, plans for the new entity, and awarded share ratios of the special dividend will be announced in a future press release.
AMFE also stated the Company continues to execute on a number of exciting initiatives. Further updates can be expected in the coming weeks as the company continues to accelerate forward with its growth and expansion strategy and deliver maximum value back to its shareholders.
US expansion: Earlier this month Amfil said the US Expansion Team has been on the road for the past few months visiting several cities across multiple states including New Jersey, Pennsylvania, Texas, and Colorado. The Team has been meeting with potential investors, franchisees, and JV partners interested in opening Snakes & Lattes venues in their home cities. The Company said it has received a high volume of correspondence from parties interested in opening Snakes and Lattes locations recently.
The Tempe, Arizona location, the 1st Snakes & Lattes in the US is approaching the final stages of construction and is expected to launch prior to the end of September pending final inspections. Located at 20 W Sixth Street, in the old Z’Tejas Restaurant which is just off Mill Avenue is the hottest entertainment center in Arizona. Known as the hot spot in the Valley of the Sun Phoenix area, Mill Avenue is home to the highest concentration of cafes, restaurants, sports bars, microbreweries, unique shopping and nightlife than any other place in the Metro area. Tempe’s Mill Avenue is pedestrian friendly and has lots of parking. The location is minutes away from Sky Harbor International Airport as well as Arizona State University, which has over 72,000 annual enrollees. In our estimation, there are well over 250,000 college students annually at campuses anywhere from walking distance to a 20-minute drive from the Snakes & Lattes Tempe location.
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Currently trading at a $53 million market valuation AMFE has $288k cash in the treasury and $4.2 million in inventory. AMFE also has significant debt on the books that could lead to dilution. But AMFE is an exciting story developing in small caps; the Company operates the first board game bar and cafe in North America, believed to be the largest in the world which they are in the process of franchising throughout North America. AMFE also has huge sales reporting an incredible $8,168,251 in revenues for fiscal 2017. With numbers like this it is little surprise that AMFE is running big and is quickly developing a loyal shareholder base that swears this one goes higher. We will be updating on AMFE when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with AMFE.
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Disclosure: we hold no position in AMFE either long or short and we have not been compensated for this article.