AMFE News 12/28/2016 - 0.00665
Post# of 273249
Posted On: 12/28/2016 6:43:42 PM
Amfil Technologies Inc. $AMFE News
Last updated 12/28/2016 - 0.00665
AMFIL TECHNOLOGIES INC. PROVIDES UPDATE ON MEDICAL MARIJUANA INITIATIVE & GROZONE PRODUCT LINE
Dec 27, 2016
OTC Disclosure & News Service
Toronto, ONT, Canada -
Amfil Technologies Inc. (OTC Pink: AMFE) is pleased to announce the appointment of Mr. Brian Allossery to spearhead the sales and marketing effort of the company's GROzone technology for the medical marijuana industry. Mr. Allossery has been active and successful in the marketing and development of early stage companies and products since 1996 and Amfil expects he will be an integral asset to the company as we begin the marketing of the GROzone product lines on both the commercial and retail level.
GROzone was started in 2014 by way of a Joint Venture with Ambrose Fillis & A.C.T.S. systems, the creators of the original ozone technology with successful installations in companies such as Nestle, Pepsi, Sysco Foods and Sun Pacific. Through the JV the technology was modified and developed specifically for the medical marijuana industry.
Since the inception of GROzone in 2014, our technicians have had the opportunity to beta test at a licensed marijuana production facility in Colorado, allowing them to calibrate the technology to ensure the efficacy and efficiency to specifically target both large and small scale marijuana cultivation requirements. With the testing stage completed and interest from the cultivation industry, Amfil welcomes Mr. Allossery on board to service all inquiries and lead the full scale drive to bring the GROzone product to market in 2017.
Further to the launch of the GROzone sales initiative, Amfil Technologies is in discussions with a company that produces a revolutionary 'rotary' hydroponic growing system which is poised to be the future of the production and manufacturing side of the industry. The 'rotary' system requires only a third of the floor space required by traditional hydroponic systems. This system is also stackable which makes it possible for facilities to exponentially increase the volume of their production yields. Amfil is in discussions to create a customized GROzone system that would be sold as an add-on to the existing systems this company creates and sells. We hope to announce the closing of this deal in January 2017.
The company will also be making an announcement shortly potentially revising its original estimated impact on revenues due to the most recent acquisition of Snakes & Lagers upwards from the originally expected $2-$3M annually as numbers have been coming in more favorably than originally anticipated.
To learn more about the GROzone technology and product line feel free to visit this subsidiaries website at www.grozone.biz. To learn more about Amfil Technologies Inc. please visit our website at www.amfiltech.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 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," "intend," "plan" and other similar expressions. Our actual results, such as the Company's ability to finance, market the technology, 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
President
Amfil Technologies Inc.
Telephone: (647) 880-5887
Email: ir@amfiltech.com
SOURCE: Amfil Technologies Inc.
Copyright © 2016 OTC Markets. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
AMFIL TECHNOLOGIES INC. GREEN LIGHTS THE REDUCTION OF THE COMPANY'S OUTSTANDING SHARE COUNT BY A MINIMUM OF 40%
Dec 08, 2016
OTC Disclosure & News Service
Toronto, ONT, Canada -
Amfil Technologies Inc. (OTC Pink: AMFE) is pleased to announce to its shareholders and the investment community that last week the company's attorney was given the go ahead to contact the Secretary of State of New York and complete any and all filings necessary to amend our articles of incorporation and create a preferred share class. The reason for this is because our CEO & President Roger Mortimer has committed to retiring between 250M to 350M of his common stock holdings in the company in exchange for preferred shares. This roll up of shares owned by our majority shareholder in exchange for non-trading preferred shares should emphasize the long term commitment to the shareholders, and furthermore provides the ability for us to make potential acquisitions in the future in a non-dilutive manner.
With the company's public float with the DTC being under 200M shares yet our outstanding share count being over 700M shares, there was a bit of a disconnect in terms of our overall share structure. By having approximately 250M to 350M shares of the company's outstanding common stock retired, shareholders should see a dramatic reduction by a minimum of 40% of the company's current outstanding share count.
The company cannot give the exact date that this share reduction will take effect at this time however it is working diligently to get this process completed as soon as possible and does not expect that it will take very long. An announcement will be made verifying completion once this has been finalized and we will also be addressing progress within our operating subsidiaries shortly as well.
We thank our shareholders for being a part of our company and are excited for what the future has in store for us.
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 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," "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
President
Amfil Technologies Inc.
Telephone: (647) 880-5887
Email: ir@amfiltech.com
Copyright © 2016 OTC Markets. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Amfil Technologies Inc. Files Q1 2016 and Provides Shareholder Update
Nov 16, 2016
OTC Disclosure & News Service
Toronto, ONT, Canada -
Amfil Technologies Inc. (OTC Pink: AMFE) has filed its Q1 2016 Report with OTC Markets showing Revenues of $28,477, Cost of Goods Sold of $17,139 leaving a gross profit of $11,338.00. After Operating Expenses of $43,826.00 the company had a net loss on the quarter of $32,488.00 This is in comparison to Q1 2015 Revenues of $78,599.00, Cost of Goods Sold of $25,992.00 leaving a gross profit of $52,607.00. After Operating Expenses of $40,202.00 the company had a net profit of $12,405.00.
Our outstanding share count and public float with the DTC did see a slight increase this quarter to 741,043,098 and 192,859,481 respectively. This was attributable to a combination of debt reduction mostly related to audit/accounting costs, long standing funders who believe in the company's success and the acquisition (bearing restrictive legend). This is quite rare for our company to anyone that has been following for some time but was necessary to help clean up some overhanging debt and help our positioning moving forward. The company has for the vast majority always funded in-house so to speak through friends, family and close friendly shareholders and has never in the past or will in the future sign a toxic financing deal which is one of the major contributing factors to our public float being 192,859,481 which is cumulative since the company's inception in 1985. Additionally, the company has also never had to recapitalize or roll back its shares over the past 31 years and is proud to have every shareholder big or small from the past, still a part of our company today. Of the $494,297 in remaining liabilities, $239,171 is loans from management to the company and non interest bearing, sales tax payable of which the vast majority has been paid off in Q2, accounts payable and accrued liabilities from ongoing day to day business and prior audit fees which a large portion has been paid and will continue to be paid throughout Q2 as well as a convertible note to a family member of management and two long standing shareholders of the company.
At first glance, the Q1 year over year reduction in revenue and profit would appear to be a negative or that the company has downsized its current revenue generating subsidiary Interloc-Kings Inc. Quite the opposite is true however and the reduction is directly attributable to our recent hiring of additional crews for this subsidiary and an increased amount of larger scale open projects and work in progress as at September 30th 2016 that will be rolled over and reflected on our Q2 financial statements. In Q1 we took on two additional crews to help keep up with the increased demand for stone and wood installations this subsidiary provides and feel this will help us tremendously throughout the rest of this season and certainly next year.
There were also some additional expenses related to the recent acquisition of Snakes & Lagers Inc. however the company feels it was necessary and minimal in comparison to the benefit this deal will bring to Amfil Technologies Inc. In the future. Revenues from this subsidiary will begin to be reflected on our Q2 2016 financial statement. As stated previously we estimate approx. $2M - $3M in additional yearly revenues from this subsidiary and is very likely to be much higher in the future as current deals in progress and planned expansion comes to fruition.
The first goal of Amfil Technologies Inc. with regards to the recent acquisition is to assist and help support the team in place open an additional three Snakes & Lattes locations to add under the umbrella. We are currently and will be in the near future working on finalizing the franchising agreements so future would-be owners can gain access to the brand and help an exponential expansion. The company has been contacted by various potential candidates from all across North America looking to get into the business and wanting to purchase a franchise.
In order to properly meet the across the board demands that we know is needed to facilitate a large expansion Amfil Technologies Inc. is looking at potentially acquiring a company that it has been having discussions with regarding this process. This company appears to have the knowledge and technical skill to assist the company to franchise out our existing subsidiaries. It is potentially a great acquisition for under the Amfil umbrella to synergize the internal workings of each subsidiary to prepare for large scale expansion. Specializing in organizing processes that automate the completion of financial reporting, tax compliance and streamline the large scale purchasing, accounts receivable / payables and the many other systems needed for multiple locations and businesses. This potential addition could prove to be a major cog in the Amfil wheel of planned expansion and franchising of its existing subsidiaries.
As for the GROzone initiative, the company has been in discussions with highly qualified individuals who could be very capable marketers and lead generators for the GROzone product line. Previously while the company was having success with the technology and the GROzone 60 system, we lacked a proper sales network for the product and being able to showcase the positives the technology brought to the industry. Having marketers of the products focusing 100% of their time and effort into a space that they know, understand and are comfortable in we feel will lead to increasing sales for the subsidiary. North America has been pushing closer and closer towards full "Medical Marijuana" acceptance with there now being 36 licensed producers in Canada and with 26 states and the district of Columbia having legalized marijuana in some form. Three additional states appears will soon join that list and therefore while some would say we started early on this product, we feel we are ahead of the game and will need to use this to our advantage now to capitalize on this growth for the good of the GROzone venture.
That being said, we really appreciates all of our shareholders and we want to thank everyone on board for being a part of our company. We feel there are going to be some very exciting times ahead and having laid the groundwork for some large scale expansion across all of our subsidiaries, we hope you will be a part of the company as it unfolds. We will have some more detailed information on each of the respective subsidiaries and the work going on behind the scenes relating to each one in the very near future. Stay tuned and we hope you are excited as we are for what the future may hold for our company.
For more information, feel free to visit our website at www.amfiltech.com or to contact the company at ir@amfiltech.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 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," "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
President
Amfil Technologies Inc.
Telephone: (647) 880-5887
Email: ir@amfiltech.com
SOURCE: Amfil Technologies Inc.
Copyright © 2016 OTC Markets. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Amfil Technologies Inc. Signs L.O.I. to Acquire Snakes & Lagers Inc; Anticipates $2 Million - $3 Million in Additional Annual Revenue
Apr 04, 2016
OTC Disclosure & News Service
-
Amfil Technologies Inc. Signs L.O.I. to Acquire Snakes & Lagers Inc; Anticipates $2 Million - $3 Million in Additional Annual Revenue
TORONTO, ON--(Marketwired - Apr 4, 2016) - Amfil Technologies Inc. (OTC PINK: AMFE) is pleased to announce that it has signed a Letter Of Intent for the acquisition of all the assets and rights, therein owned by Snakes & Lagers Inc., as well as the first right of refusal on all future Snakes & Lattes Inc. franchises worldwide.
Snakes & Lagers Inc. will be licensed to distribute products to all the Snakes & Lattes Inc. locations, in addition will have the right to acquire franchising rights from Snakes & Lattes Inc. for new locations and will be responsible for all future purchasing for those new locations.
The current management structure of Snakes & Latte's / Lagers will remain intact throughout the L.O.I. process and after the definitive agreement is signed. Ben Castanie, the current owner of the company, will spearhead the future expansion of the Snakes & Latte's / Lagers franchise and his management team will continue to operate the day to day business and affairs of the existing locations as well as any future franchises.
The purchase price has been set at 20M restricted shares of Amfil common stock.
Snakes & Lattes Inc. opened its doors in August of 2010 as North America's first board game café in a small space at 600 Bloor St. West, downtown Toronto. Over the years, this first location was expanded to take over the space at 602 Bloor St. West and then 604 Bloor St. West. This has allowed Snake and Latte's Annex to grow to a 5000 sq. ft. location and increased the seating capacity from 45 to 150 seats. A second, even larger location was opened with 7500 sq. Ft. featuring space for 240 guests at 489 College St. named Snakes & Lattes College. This location is one of, if not, the largest board game café and bars in the world and combined has North America's largest public game library. A warehouse was also acquired to deal with the online and retail sales of their products. More information can be found online https://en.wikipedia.org/wiki/Snakes_and_Lattes or their website at http://www.snakesandlattes.com .
Amfil Technologies Inc. anticipates this acquisition will currently add an additional $2M - $3M in immediate annual revenue, however it is likely that this number will increase significantly in the future as the company continues to grow and deals they are working on come to fruition. Amfil Technologies Inc. feels there will also be some added synergies between the companies as Snakes & Latte's Inc. has expensed well over $1M in expansion costs that are construction related as they have continued to grow and Amfil's construction and installation subsidiary could provide cost savings on future expansions while also adding those funds to the revenue stream.
Since 2010, the tabletop board game industry has seen purchasing rising by between 25% and 40% annually. Even if you are not a gamer, most people have at one point or another in their lifetime played the basic well known games such as Monopoly, Risk, Trivial Pursuit, Checkers and Chess. The acceptance of getting together with friends at the bar or café and playing a game such as the increasingly popular Cards Against Humanity or any other personal favourite instead of being glued to your cellphone or the television has been having ever increasing demand. Only until recently, while this concept was popular in other parts of the world, it was virtually unavailable in North America. When walking into a board game bar or café such as one of the Snakes & Latte's locations it will quickly become noticeable that the seats are not filled mostly with kids, but rather with adults. Adults who want to socialize and have something fun to do while they drink alcoholic or non-alcoholic beverages and eat great food. The targeted demographic has the financial means to enjoy a number of lagers or latte's and items from the menu during their stay as well as paying a small cover to occupy space at a table which now creates a business model that generates superior revenue to a standard bar or restaurant. It is unique and in an unsaturated market. Almost any city could support an operation like this and the majority of cities do not have anything like it.
The Snakes & Lagers / Lattes management team and employees are filled with young, energetic and very positive people that have clearly established their ability to run a successful operation in a growing industry. Amfil Technologies Inc. is excited to have Snakes & Lagers Inc. added under its umbrella in the near future and is confident that this division will continue to do very well for the company.
Further details on the acquisition as well as updates on Amfil Technologies Inc.'s other current initiatives will be announced in the near future.
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 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," "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
President
Amfil Technologies Inc.
Telephone: (647) 880-5887
Email: rmortimer@amfiltech.com
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
AMFIL TECHNOLOGIES INC. SIGNS L.O.I. TO ACQUIRE SNAKES & LAGERS INC; ANTICIPATES $2 MILLION - $3 MILLION IN ADDITIONAL ANNUAL REVENUE
Mar 31, 2016
OTC Disclosure & News Service
Toronto, ONT, Canada -
Amfil Technologies Inc. (OTC PINK: AMFE) is pleased to announce that it has signed a Letter Of Intent for the acquisition of all the assets and rights, therein owned by Snakes & Lagers Inc. as well as the first right of refusal on all future Snakes & Lattes Inc. franchises worldwide.
Snakes & Lagers Inc. will be licensed to distribute products to all the Snakes & Lattes Inc. locations, in addition will have the right to acquire franchising rights from Snakes & Lattes Inc. for new locations and will be responsible for all future purchasing for those new locations.
The current management structure of Snakes & Latte's / Lagers will remain intact throughout the L.O.I. process and after the definitive agreement is signed. Ben Castanie, the current owner of the company will spearhead the future expansion of the Snakes & Latte's / Lagers franchise and his management team will continue to operate the day to day business and affairs of the existing locations as well as any future franchises.
The purchase price has been set at 20M restricted shares of Amfil common stock.
Snakes & Lattes Inc. opened its doors in August of 2010 as North America's first board game café in a small space at 600 Bloor St. West, downtown Toronto. Over the years this first location was expanded to take over the space at 602 Bloor St. West and then 604 Bloor St. West. This has allowed Snake and Latte's Annex, to grow to a 5000 sq. ft. location and increased the seating capacity from 45 to 150 seats. A second, even larger location was opened with 7500 sq. Ft. featuring space for 240 guests at 489 College St. named Snakes & Lattes College. This location is one of, if not, the largest board game café and bars in the world and combined has North America's largest public game library. A warehouse was also acquired to deal with the online and retail sales of their products. More information can be found online https://en.wikipedia.org/wiki/Snakes_and_Lattes or their website at http://www.snakesandlattes.comhttp://www.snak...ttes.com
Amfil Technologies Inc. anticipates this acquisition will currently add an additional $2M - $3M in immediate annual revenue, however it is likely that this number will increase significantly in the future as the company continues to grow and deals they are working on come to fruition. Amfil Technologies Inc. feels there will also be some added synergies between the companies as Snakes & Latte's Inc. has expensed well over $1M in expansion costs that are construction related as they have continued to grow and Amfil's construction and installation subsidiary could provide cost savings on future expansions while also adding those funds to the revenue stream.
Since 2010, the tabletop board game industry has seen purchasing rising by between 25% and 40% annually. Even if you are not a gamer, most people have at one point or another in their lifetime played the basic well known games such as Monopoly, Risk, Trivial Pursuit, Checkers and Chess. The acceptance of getting together with friends at the bar or café and playing a game such as the increasingly popular Cards Against Humanity or any other personal favourite instead of being glued to your cellphone or the television has been having ever increasing demand. Only until recently, while this concept was popular in other parts of the world, it was virtually unavailable in North America. When walking into a board game bar or café such as one of the Snakes & Latte's locations it will quickly become noticeable that the seats are not filled mostly with kids, but rather with adults. Adults who want to socialize and have something fun to do while they drink alcoholic or non-alcoholic beverages and eat great food. The targeted demographic has the financial means to enjoy a number of lagers or latte's and items from the menu during their stay as well as paying a small cover to occupy space at a table which now creates a business model that generates superior revenue to a standard bar or restaurant. It is unique and in an unsaturated market. Almost any city could support an operation like this and the majority of cities do not have anything like it.
The Snakes & Lagers / Lattes management team and employees are filled with young, energetic and very positive people that have clearly established their ability to run a successful operation in a growing industry. Amfil Technologies Inc. is excited to have Snakes & Lagers Inc. added under its umbrella in the near future and is confident that this division will continue to do very well for the company.
Further details on the acquisition as well as updates on Amfil Technologies Inc.'s other current initiatives will be announced in the near future.
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 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," "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, President
Amfil Technologies Inc.
Telephone: (647) 880-5887
Email: rmortimer@amfiltech.com
SOURCE: Amfil Technologies Inc.
Copyright © 2016 OTC Markets. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
AMFIL TECHNOLOGIES INC ISSUES SHAREHOLDER UPDATE:
Dec 28, 2015
OTC Disclosure & News Service
Toronto, ONT, Canada -
Amfil Technologies Inc. (OTC Pink: AMFE) is pleased to provide the following update:
Seasons greetings to our shareholders and the investment community. We hope everyone had a wonderful holiday with their families and friends and are looking forward to a positive 2016.
2015 was another good year for the company after our new direction which started in 2013. We posted a 55% revenue increase compared to our 2014 year end, where we posted a 61% revenue increase compared to our 2013 year end. We also showed a profit in our most recent quarterly statement being Q1 2016. We intend to do everything in our power to keep the positive momentum on our side and are looking forward to what the new year brings. This was accomplished with a less than 5% increase to our outstanding share count over the past two years when the new direction took place. All of the shares issued during this time period are still being held in certificate form by the respective owners and not one share has been sold or made available to the market. Our public float with the DTC still remains at 168,047,581 which is the cumulative total since the company's inception in June of 1985. The company is proud to have never had any recapitalizations or share roll back's since its inception.
The GroZone & Interloc-Kings Inc. subsidiaries are continually making forward steps and building off the positive energy that has been put forth and received by the marketplace. The grozone.biz and amfiltech.com websites are currently in the process of being updated and we expect the new sites to go live in January 2016.
The company has had preliminary acquisition discussions with a company that during initial review seems to be a good fit to have added under our umbrella. This company had $569,415 CAD in total income in 2014 with $278,277 CAD in profit. In 2015, this company had $884,009 CAD in total income with $520,485 CAD in profit. Upon preliminary discussions, this company could be acquired for approx. $200,000 USD in cash, stock or a combination of both. Any stock that would be issued with regards to this acquisition would be restricted for a minimum of two years and would have performance clauses. Due to the nature and timing of the discussions we cannot release the name of the company or any further details publicly in order to protect ourselves, but we are set to have a meeting and discussion on Tuesday January 12th 2016 with this company along with our licensed public accountant. If and when a Letter Of Intent or Definitive Agreement is signed we will have further details to provide on this acquisition target. The company is very excited about this potential opportunity as it will be a great addition to our balance sheet and bottom line and will come with a great management team which would be kept in place to run and operate this potentially new subsidiary.
We are very appreciative of our shareholders and everyone who is involved with our company. Our goal is to continually improve upon and expand on our year over year successes and minimize or eliminate our setbacks. With Ambrose Fillis, our President of the Grozone Project being away on a one month sales expedition reaching as far as South Africa, we are hopeful that the beginning of 2016 will be the year to look back on as the turning point in terms of sales from all the hard work that was put in to creating and building the GroZone product line up to where it stands today.
We expect further updates to be provided over the next few weeks as we progress on our initiatives and are looking forward to publishing some very positive news in the near future as our in-progress deals materialize.
About Amfil Technologies, Inc.
Amfil Technologies Inc. operates both the Interloc-Kings Inc. subsidiary as well as the GROzone Project. GROzone was jointly developed between Amfil Tech and A.C.T.S. Inc. as an extension of the existing mPACT 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. GROzone is a triple-function sanitization unit capable of naturally eliminating 99.9% of 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 dangerous, often carcinogenic products to treat the water, 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. There is even compelling research indicating that elevated levels of ozone and CO2 can produce yields having as much as 53% more total biomass in certain plant types, with similar results for seed production. More information of the grozone line of products can be found on the www.grozone.biz website.
Safe Harbor Statement
This news release contains statements that involve expectations, plans or intentions (such as those relating to future business, acquisitions or financial results, new features or services, or management strategies) and other factors discussed from time to time in the Company's Securities and Exchange Commission or OTC Market 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," "intend,", "potential", "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.
Copyright © 2015 OTC Markets. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Last updated 12/28/2016 - 0.00665
AMFIL TECHNOLOGIES INC. PROVIDES UPDATE ON MEDICAL MARIJUANA INITIATIVE & GROZONE PRODUCT LINE
Dec 27, 2016
OTC Disclosure & News Service
Toronto, ONT, Canada -
Amfil Technologies Inc. (OTC Pink: AMFE) is pleased to announce the appointment of Mr. Brian Allossery to spearhead the sales and marketing effort of the company's GROzone technology for the medical marijuana industry. Mr. Allossery has been active and successful in the marketing and development of early stage companies and products since 1996 and Amfil expects he will be an integral asset to the company as we begin the marketing of the GROzone product lines on both the commercial and retail level.
GROzone was started in 2014 by way of a Joint Venture with Ambrose Fillis & A.C.T.S. systems, the creators of the original ozone technology with successful installations in companies such as Nestle, Pepsi, Sysco Foods and Sun Pacific. Through the JV the technology was modified and developed specifically for the medical marijuana industry.
Since the inception of GROzone in 2014, our technicians have had the opportunity to beta test at a licensed marijuana production facility in Colorado, allowing them to calibrate the technology to ensure the efficacy and efficiency to specifically target both large and small scale marijuana cultivation requirements. With the testing stage completed and interest from the cultivation industry, Amfil welcomes Mr. Allossery on board to service all inquiries and lead the full scale drive to bring the GROzone product to market in 2017.
Further to the launch of the GROzone sales initiative, Amfil Technologies is in discussions with a company that produces a revolutionary 'rotary' hydroponic growing system which is poised to be the future of the production and manufacturing side of the industry. The 'rotary' system requires only a third of the floor space required by traditional hydroponic systems. This system is also stackable which makes it possible for facilities to exponentially increase the volume of their production yields. Amfil is in discussions to create a customized GROzone system that would be sold as an add-on to the existing systems this company creates and sells. We hope to announce the closing of this deal in January 2017.
The company will also be making an announcement shortly potentially revising its original estimated impact on revenues due to the most recent acquisition of Snakes & Lagers upwards from the originally expected $2-$3M annually as numbers have been coming in more favorably than originally anticipated.
To learn more about the GROzone technology and product line feel free to visit this subsidiaries website at www.grozone.biz. To learn more about Amfil Technologies Inc. please visit our website at www.amfiltech.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 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," "intend," "plan" and other similar expressions. Our actual results, such as the Company's ability to finance, market the technology, 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
President
Amfil Technologies Inc.
Telephone: (647) 880-5887
Email: ir@amfiltech.com
SOURCE: Amfil Technologies Inc.
Copyright © 2016 OTC Markets. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
AMFIL TECHNOLOGIES INC. GREEN LIGHTS THE REDUCTION OF THE COMPANY'S OUTSTANDING SHARE COUNT BY A MINIMUM OF 40%
Dec 08, 2016
OTC Disclosure & News Service
Toronto, ONT, Canada -
Amfil Technologies Inc. (OTC Pink: AMFE) is pleased to announce to its shareholders and the investment community that last week the company's attorney was given the go ahead to contact the Secretary of State of New York and complete any and all filings necessary to amend our articles of incorporation and create a preferred share class. The reason for this is because our CEO & President Roger Mortimer has committed to retiring between 250M to 350M of his common stock holdings in the company in exchange for preferred shares. This roll up of shares owned by our majority shareholder in exchange for non-trading preferred shares should emphasize the long term commitment to the shareholders, and furthermore provides the ability for us to make potential acquisitions in the future in a non-dilutive manner.
With the company's public float with the DTC being under 200M shares yet our outstanding share count being over 700M shares, there was a bit of a disconnect in terms of our overall share structure. By having approximately 250M to 350M shares of the company's outstanding common stock retired, shareholders should see a dramatic reduction by a minimum of 40% of the company's current outstanding share count.
The company cannot give the exact date that this share reduction will take effect at this time however it is working diligently to get this process completed as soon as possible and does not expect that it will take very long. An announcement will be made verifying completion once this has been finalized and we will also be addressing progress within our operating subsidiaries shortly as well.
We thank our shareholders for being a part of our company and are excited for what the future has in store for us.
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 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," "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
President
Amfil Technologies Inc.
Telephone: (647) 880-5887
Email: ir@amfiltech.com
Copyright © 2016 OTC Markets. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Amfil Technologies Inc. Files Q1 2016 and Provides Shareholder Update
Nov 16, 2016
OTC Disclosure & News Service
Toronto, ONT, Canada -
Amfil Technologies Inc. (OTC Pink: AMFE) has filed its Q1 2016 Report with OTC Markets showing Revenues of $28,477, Cost of Goods Sold of $17,139 leaving a gross profit of $11,338.00. After Operating Expenses of $43,826.00 the company had a net loss on the quarter of $32,488.00 This is in comparison to Q1 2015 Revenues of $78,599.00, Cost of Goods Sold of $25,992.00 leaving a gross profit of $52,607.00. After Operating Expenses of $40,202.00 the company had a net profit of $12,405.00.
Our outstanding share count and public float with the DTC did see a slight increase this quarter to 741,043,098 and 192,859,481 respectively. This was attributable to a combination of debt reduction mostly related to audit/accounting costs, long standing funders who believe in the company's success and the acquisition (bearing restrictive legend). This is quite rare for our company to anyone that has been following for some time but was necessary to help clean up some overhanging debt and help our positioning moving forward. The company has for the vast majority always funded in-house so to speak through friends, family and close friendly shareholders and has never in the past or will in the future sign a toxic financing deal which is one of the major contributing factors to our public float being 192,859,481 which is cumulative since the company's inception in 1985. Additionally, the company has also never had to recapitalize or roll back its shares over the past 31 years and is proud to have every shareholder big or small from the past, still a part of our company today. Of the $494,297 in remaining liabilities, $239,171 is loans from management to the company and non interest bearing, sales tax payable of which the vast majority has been paid off in Q2, accounts payable and accrued liabilities from ongoing day to day business and prior audit fees which a large portion has been paid and will continue to be paid throughout Q2 as well as a convertible note to a family member of management and two long standing shareholders of the company.
At first glance, the Q1 year over year reduction in revenue and profit would appear to be a negative or that the company has downsized its current revenue generating subsidiary Interloc-Kings Inc. Quite the opposite is true however and the reduction is directly attributable to our recent hiring of additional crews for this subsidiary and an increased amount of larger scale open projects and work in progress as at September 30th 2016 that will be rolled over and reflected on our Q2 financial statements. In Q1 we took on two additional crews to help keep up with the increased demand for stone and wood installations this subsidiary provides and feel this will help us tremendously throughout the rest of this season and certainly next year.
There were also some additional expenses related to the recent acquisition of Snakes & Lagers Inc. however the company feels it was necessary and minimal in comparison to the benefit this deal will bring to Amfil Technologies Inc. In the future. Revenues from this subsidiary will begin to be reflected on our Q2 2016 financial statement. As stated previously we estimate approx. $2M - $3M in additional yearly revenues from this subsidiary and is very likely to be much higher in the future as current deals in progress and planned expansion comes to fruition.
The first goal of Amfil Technologies Inc. with regards to the recent acquisition is to assist and help support the team in place open an additional three Snakes & Lattes locations to add under the umbrella. We are currently and will be in the near future working on finalizing the franchising agreements so future would-be owners can gain access to the brand and help an exponential expansion. The company has been contacted by various potential candidates from all across North America looking to get into the business and wanting to purchase a franchise.
In order to properly meet the across the board demands that we know is needed to facilitate a large expansion Amfil Technologies Inc. is looking at potentially acquiring a company that it has been having discussions with regarding this process. This company appears to have the knowledge and technical skill to assist the company to franchise out our existing subsidiaries. It is potentially a great acquisition for under the Amfil umbrella to synergize the internal workings of each subsidiary to prepare for large scale expansion. Specializing in organizing processes that automate the completion of financial reporting, tax compliance and streamline the large scale purchasing, accounts receivable / payables and the many other systems needed for multiple locations and businesses. This potential addition could prove to be a major cog in the Amfil wheel of planned expansion and franchising of its existing subsidiaries.
As for the GROzone initiative, the company has been in discussions with highly qualified individuals who could be very capable marketers and lead generators for the GROzone product line. Previously while the company was having success with the technology and the GROzone 60 system, we lacked a proper sales network for the product and being able to showcase the positives the technology brought to the industry. Having marketers of the products focusing 100% of their time and effort into a space that they know, understand and are comfortable in we feel will lead to increasing sales for the subsidiary. North America has been pushing closer and closer towards full "Medical Marijuana" acceptance with there now being 36 licensed producers in Canada and with 26 states and the district of Columbia having legalized marijuana in some form. Three additional states appears will soon join that list and therefore while some would say we started early on this product, we feel we are ahead of the game and will need to use this to our advantage now to capitalize on this growth for the good of the GROzone venture.
That being said, we really appreciates all of our shareholders and we want to thank everyone on board for being a part of our company. We feel there are going to be some very exciting times ahead and having laid the groundwork for some large scale expansion across all of our subsidiaries, we hope you will be a part of the company as it unfolds. We will have some more detailed information on each of the respective subsidiaries and the work going on behind the scenes relating to each one in the very near future. Stay tuned and we hope you are excited as we are for what the future may hold for our company.
For more information, feel free to visit our website at www.amfiltech.com or to contact the company at ir@amfiltech.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 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," "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
President
Amfil Technologies Inc.
Telephone: (647) 880-5887
Email: ir@amfiltech.com
SOURCE: Amfil Technologies Inc.
Copyright © 2016 OTC Markets. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Amfil Technologies Inc. Signs L.O.I. to Acquire Snakes & Lagers Inc; Anticipates $2 Million - $3 Million in Additional Annual Revenue
Apr 04, 2016
OTC Disclosure & News Service
-
Amfil Technologies Inc. Signs L.O.I. to Acquire Snakes & Lagers Inc; Anticipates $2 Million - $3 Million in Additional Annual Revenue
TORONTO, ON--(Marketwired - Apr 4, 2016) - Amfil Technologies Inc. (OTC PINK: AMFE) is pleased to announce that it has signed a Letter Of Intent for the acquisition of all the assets and rights, therein owned by Snakes & Lagers Inc., as well as the first right of refusal on all future Snakes & Lattes Inc. franchises worldwide.
Snakes & Lagers Inc. will be licensed to distribute products to all the Snakes & Lattes Inc. locations, in addition will have the right to acquire franchising rights from Snakes & Lattes Inc. for new locations and will be responsible for all future purchasing for those new locations.
The current management structure of Snakes & Latte's / Lagers will remain intact throughout the L.O.I. process and after the definitive agreement is signed. Ben Castanie, the current owner of the company, will spearhead the future expansion of the Snakes & Latte's / Lagers franchise and his management team will continue to operate the day to day business and affairs of the existing locations as well as any future franchises.
The purchase price has been set at 20M restricted shares of Amfil common stock.
Snakes & Lattes Inc. opened its doors in August of 2010 as North America's first board game café in a small space at 600 Bloor St. West, downtown Toronto. Over the years, this first location was expanded to take over the space at 602 Bloor St. West and then 604 Bloor St. West. This has allowed Snake and Latte's Annex to grow to a 5000 sq. ft. location and increased the seating capacity from 45 to 150 seats. A second, even larger location was opened with 7500 sq. Ft. featuring space for 240 guests at 489 College St. named Snakes & Lattes College. This location is one of, if not, the largest board game café and bars in the world and combined has North America's largest public game library. A warehouse was also acquired to deal with the online and retail sales of their products. More information can be found online https://en.wikipedia.org/wiki/Snakes_and_Lattes or their website at http://www.snakesandlattes.com .
Amfil Technologies Inc. anticipates this acquisition will currently add an additional $2M - $3M in immediate annual revenue, however it is likely that this number will increase significantly in the future as the company continues to grow and deals they are working on come to fruition. Amfil Technologies Inc. feels there will also be some added synergies between the companies as Snakes & Latte's Inc. has expensed well over $1M in expansion costs that are construction related as they have continued to grow and Amfil's construction and installation subsidiary could provide cost savings on future expansions while also adding those funds to the revenue stream.
Since 2010, the tabletop board game industry has seen purchasing rising by between 25% and 40% annually. Even if you are not a gamer, most people have at one point or another in their lifetime played the basic well known games such as Monopoly, Risk, Trivial Pursuit, Checkers and Chess. The acceptance of getting together with friends at the bar or café and playing a game such as the increasingly popular Cards Against Humanity or any other personal favourite instead of being glued to your cellphone or the television has been having ever increasing demand. Only until recently, while this concept was popular in other parts of the world, it was virtually unavailable in North America. When walking into a board game bar or café such as one of the Snakes & Latte's locations it will quickly become noticeable that the seats are not filled mostly with kids, but rather with adults. Adults who want to socialize and have something fun to do while they drink alcoholic or non-alcoholic beverages and eat great food. The targeted demographic has the financial means to enjoy a number of lagers or latte's and items from the menu during their stay as well as paying a small cover to occupy space at a table which now creates a business model that generates superior revenue to a standard bar or restaurant. It is unique and in an unsaturated market. Almost any city could support an operation like this and the majority of cities do not have anything like it.
The Snakes & Lagers / Lattes management team and employees are filled with young, energetic and very positive people that have clearly established their ability to run a successful operation in a growing industry. Amfil Technologies Inc. is excited to have Snakes & Lagers Inc. added under its umbrella in the near future and is confident that this division will continue to do very well for the company.
Further details on the acquisition as well as updates on Amfil Technologies Inc.'s other current initiatives will be announced in the near future.
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 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," "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
President
Amfil Technologies Inc.
Telephone: (647) 880-5887
Email: rmortimer@amfiltech.com
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
AMFIL TECHNOLOGIES INC. SIGNS L.O.I. TO ACQUIRE SNAKES & LAGERS INC; ANTICIPATES $2 MILLION - $3 MILLION IN ADDITIONAL ANNUAL REVENUE
Mar 31, 2016
OTC Disclosure & News Service
Toronto, ONT, Canada -
Amfil Technologies Inc. (OTC PINK: AMFE) is pleased to announce that it has signed a Letter Of Intent for the acquisition of all the assets and rights, therein owned by Snakes & Lagers Inc. as well as the first right of refusal on all future Snakes & Lattes Inc. franchises worldwide.
Snakes & Lagers Inc. will be licensed to distribute products to all the Snakes & Lattes Inc. locations, in addition will have the right to acquire franchising rights from Snakes & Lattes Inc. for new locations and will be responsible for all future purchasing for those new locations.
The current management structure of Snakes & Latte's / Lagers will remain intact throughout the L.O.I. process and after the definitive agreement is signed. Ben Castanie, the current owner of the company will spearhead the future expansion of the Snakes & Latte's / Lagers franchise and his management team will continue to operate the day to day business and affairs of the existing locations as well as any future franchises.
The purchase price has been set at 20M restricted shares of Amfil common stock.
Snakes & Lattes Inc. opened its doors in August of 2010 as North America's first board game café in a small space at 600 Bloor St. West, downtown Toronto. Over the years this first location was expanded to take over the space at 602 Bloor St. West and then 604 Bloor St. West. This has allowed Snake and Latte's Annex, to grow to a 5000 sq. ft. location and increased the seating capacity from 45 to 150 seats. A second, even larger location was opened with 7500 sq. Ft. featuring space for 240 guests at 489 College St. named Snakes & Lattes College. This location is one of, if not, the largest board game café and bars in the world and combined has North America's largest public game library. A warehouse was also acquired to deal with the online and retail sales of their products. More information can be found online https://en.wikipedia.org/wiki/Snakes_and_Lattes or their website at http://www.snakesandlattes.comhttp://www.snak...ttes.com
Amfil Technologies Inc. anticipates this acquisition will currently add an additional $2M - $3M in immediate annual revenue, however it is likely that this number will increase significantly in the future as the company continues to grow and deals they are working on come to fruition. Amfil Technologies Inc. feels there will also be some added synergies between the companies as Snakes & Latte's Inc. has expensed well over $1M in expansion costs that are construction related as they have continued to grow and Amfil's construction and installation subsidiary could provide cost savings on future expansions while also adding those funds to the revenue stream.
Since 2010, the tabletop board game industry has seen purchasing rising by between 25% and 40% annually. Even if you are not a gamer, most people have at one point or another in their lifetime played the basic well known games such as Monopoly, Risk, Trivial Pursuit, Checkers and Chess. The acceptance of getting together with friends at the bar or café and playing a game such as the increasingly popular Cards Against Humanity or any other personal favourite instead of being glued to your cellphone or the television has been having ever increasing demand. Only until recently, while this concept was popular in other parts of the world, it was virtually unavailable in North America. When walking into a board game bar or café such as one of the Snakes & Latte's locations it will quickly become noticeable that the seats are not filled mostly with kids, but rather with adults. Adults who want to socialize and have something fun to do while they drink alcoholic or non-alcoholic beverages and eat great food. The targeted demographic has the financial means to enjoy a number of lagers or latte's and items from the menu during their stay as well as paying a small cover to occupy space at a table which now creates a business model that generates superior revenue to a standard bar or restaurant. It is unique and in an unsaturated market. Almost any city could support an operation like this and the majority of cities do not have anything like it.
The Snakes & Lagers / Lattes management team and employees are filled with young, energetic and very positive people that have clearly established their ability to run a successful operation in a growing industry. Amfil Technologies Inc. is excited to have Snakes & Lagers Inc. added under its umbrella in the near future and is confident that this division will continue to do very well for the company.
Further details on the acquisition as well as updates on Amfil Technologies Inc.'s other current initiatives will be announced in the near future.
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 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," "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, President
Amfil Technologies Inc.
Telephone: (647) 880-5887
Email: rmortimer@amfiltech.com
SOURCE: Amfil Technologies Inc.
Copyright © 2016 OTC Markets. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
AMFIL TECHNOLOGIES INC ISSUES SHAREHOLDER UPDATE:
Dec 28, 2015
OTC Disclosure & News Service
Toronto, ONT, Canada -
Amfil Technologies Inc. (OTC Pink: AMFE) is pleased to provide the following update:
Seasons greetings to our shareholders and the investment community. We hope everyone had a wonderful holiday with their families and friends and are looking forward to a positive 2016.
2015 was another good year for the company after our new direction which started in 2013. We posted a 55% revenue increase compared to our 2014 year end, where we posted a 61% revenue increase compared to our 2013 year end. We also showed a profit in our most recent quarterly statement being Q1 2016. We intend to do everything in our power to keep the positive momentum on our side and are looking forward to what the new year brings. This was accomplished with a less than 5% increase to our outstanding share count over the past two years when the new direction took place. All of the shares issued during this time period are still being held in certificate form by the respective owners and not one share has been sold or made available to the market. Our public float with the DTC still remains at 168,047,581 which is the cumulative total since the company's inception in June of 1985. The company is proud to have never had any recapitalizations or share roll back's since its inception.
The GroZone & Interloc-Kings Inc. subsidiaries are continually making forward steps and building off the positive energy that has been put forth and received by the marketplace. The grozone.biz and amfiltech.com websites are currently in the process of being updated and we expect the new sites to go live in January 2016.
The company has had preliminary acquisition discussions with a company that during initial review seems to be a good fit to have added under our umbrella. This company had $569,415 CAD in total income in 2014 with $278,277 CAD in profit. In 2015, this company had $884,009 CAD in total income with $520,485 CAD in profit. Upon preliminary discussions, this company could be acquired for approx. $200,000 USD in cash, stock or a combination of both. Any stock that would be issued with regards to this acquisition would be restricted for a minimum of two years and would have performance clauses. Due to the nature and timing of the discussions we cannot release the name of the company or any further details publicly in order to protect ourselves, but we are set to have a meeting and discussion on Tuesday January 12th 2016 with this company along with our licensed public accountant. If and when a Letter Of Intent or Definitive Agreement is signed we will have further details to provide on this acquisition target. The company is very excited about this potential opportunity as it will be a great addition to our balance sheet and bottom line and will come with a great management team which would be kept in place to run and operate this potentially new subsidiary.
We are very appreciative of our shareholders and everyone who is involved with our company. Our goal is to continually improve upon and expand on our year over year successes and minimize or eliminate our setbacks. With Ambrose Fillis, our President of the Grozone Project being away on a one month sales expedition reaching as far as South Africa, we are hopeful that the beginning of 2016 will be the year to look back on as the turning point in terms of sales from all the hard work that was put in to creating and building the GroZone product line up to where it stands today.
We expect further updates to be provided over the next few weeks as we progress on our initiatives and are looking forward to publishing some very positive news in the near future as our in-progress deals materialize.
About Amfil Technologies, Inc.
Amfil Technologies Inc. operates both the Interloc-Kings Inc. subsidiary as well as the GROzone Project. GROzone was jointly developed between Amfil Tech and A.C.T.S. Inc. as an extension of the existing mPACT 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. GROzone is a triple-function sanitization unit capable of naturally eliminating 99.9% of 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 dangerous, often carcinogenic products to treat the water, 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. There is even compelling research indicating that elevated levels of ozone and CO2 can produce yields having as much as 53% more total biomass in certain plant types, with similar results for seed production. More information of the grozone line of products can be found on the www.grozone.biz website.
Safe Harbor Statement
This news release contains statements that involve expectations, plans or intentions (such as those relating to future business, acquisitions or financial results, new features or services, or management strategies) and other factors discussed from time to time in the Company's Securities and Exchange Commission or OTC Market 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," "intend,", "potential", "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.
Copyright © 2015 OTC Markets. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
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