Amfil Technologies Inc (OTCMKTS:AMFE) released its financials today and saw a slight dip after a previously strong trading week. That said, AMFE is still up 225% for the year with a number of interesting developments on the horizon.
However, and in bigger news, a recent move by AMFE reaffirms its commitment to the expansion of the Snakes and Latte’s brand appears to have renewed investors’ faith. The deal is with Lending Loop, a peer-to-peer lending platform, will lead to a mass marketing/advertising campaign for the brand. “This partnership solidifies management’s’ commitment to maintain and further increase shareholder value by avoiding traditional toxic financing deals that are becoming prevalent within the industry. In contrast, Amfil is collaborating with financial innovator, Lending Loop, to fuel the subsidiary’s growth at a fair market rate with flexible cash repayment terms,” AMFE in a statement.
Amfil Technologies Inc (OTCMKTS:AMFE) is the parent company to three wholly owned subsidiaries.
Snakes & Lagers Inc. holds the trade name and is the owner of Snakes & Lattes Inc. which currently operates a 6000 sq. ft. and a 7,500 sq. ft. tabletop gaming bars and cafes located in Toronto, Ontario that brought in over $7M CDN in revenue last year.
GROzone (which seems to be about cannabis growing, even though the company doesn’t seem to want to say that for some reason) 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.
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.
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AMFE 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.
Amfil Technologies Inc (OTCMKTS:AMFE) sees these numbers as an affirmation of their growth strategy. AMFE currently has a market cap of $88.38M with 473.90M shares out. This is a company on a tear with some interesting numbers now in their back pocket. It appears the market has been hesistant to fully get on board, so we will see how this colors out and update readers accordingly. Sign up for continuing coverage on shares of $AMFE stock, as well as our other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: We hold no position in $AMFE, either long or short, and we have not been compensated for this article.