Amfil Technologies Inc (OTCMKTS:AMFE) has continued to move higher in recent trade on a trend defined by major momentum. AMFE has several irons in the fire at present, and one of them just caught another key catalyst. Specifically, AMFE just announced that its sales team has received a purchase order commitment to outfit a portion of an up-and-coming Canadian cannabis cultivator with 5 EcoPrO3 GRO3 Antimicrobial Systems as well as 100 Roto-Gro Hydroponic Systems.
According to the release, the EcoPrO3 GRO3 and Roto-Gro systems will be integrated into a designated area of this new facility, intended for producing organic cannabis products. The new facility is in development and is located in Ontario, Canada. The proposed setup for the Roto-Gro + EcoPrO3 GRO3 technology will have each EcoPrO3 GRO3 system servicing 20 Roto-Gro hydroponic systems. The stock reacted very well to the news. In fact, shares of the company have truly been on fire of late, rising over 80% in the past two weeks.
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.
Find out when $AMFE stock reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.
As noted above, AMFE shares are responding to the company’s announcement and helped to propel the stock significantly higher in July.
According to the release, “there will be a total of 5 ‘sets’ of 20 Roto-Gro hydroponic units with a dedicated EcoPrO3 GRO3 system servicing each group. We have received indication that this will likely just be the initial order, with opportunity to expand further into the facility once it is fully operational. Further details on this product roll-out will be announced once the final installation specifications including layouts, electrical, and plumbing requirements are confirmed and the final deal is signed. Further information will include cultivator details, estimated facility open date, product delivery/installation dates etc. The total value of this initial purchase order is $1.15 Million.”
As AMFE notes in its release, the GROzone subsidiary is in the process of rebranding itself under the name GRO3, and will be referred to for marketing and discussion purposes as GRO3 effective immediately. A new website is currently under construction and will be launched in the coming weeks, along with an intensive global marketing campaign for the brand and its products.
Recent action has seen 65% tacked on to share pricing for the name in the past month. Market participants may want to pay attention to this stock. AMFE has evidenced sudden upward volatility on many prior occasions. In addition, the name has witnessed a pop in interest, as transaction volume levels have recently pushed 89% above its longer run average levels.
Now commanding a market cap of $70.06M, AMFE has virtually no cash on the books, which is balanced by about $962K in total current liabilities. AMFE is pulling in trailing 12-month revenues of $3.5M. In addition, the company is seeing major top line growth, with y/y quarterly revenues growing at 26613.9%. We will update the story again soon as further details emerge. For continuing coverage on shares of $AMFE stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!
Disclosure: we hold no position in $AMFE, either long or short, and we have not been compensated for this article.