Business
Amfil Technologies Inc (AMFE) Provides Update on Snakes & Lattes Inc. Expanding Retail, Distribution, and Publishing Operations
Amfil Technologies Inc (AMFE) Provides Update on Snakes & Lattes Inc. Expanding Retail, Distribution, and Publishing Operations.
About this update from Amfil Technologies Inc.
[{"type":"text","content":"Amfil Technologies Inc (OTC Pink: AMFE) is pleased to provide shareholders and the investment community with multiple updates/announcements relating to the expanding operations of Snakes & Lattes Inc., Morning Publishing, and discussion relating to the company’s ongoing audit process.The company continues to rapidly expand on multiple fronts with key growth-related accomplishments being achieved on a regular basis. This time just a short year ago the Snakes & Lattes Inc. operations consisted of the ‘Annex’ and ‘College’ locations in Toronto, ON. Over the course of the past year, the company has essentially doubled in size with ‘Midtown’ now online and the first location in the USA coming online in approximately 6 weeks. This coupled with the recently announced acquisition of Morning and the expanding exclusivity of game titles has continued the aggressive expansion of the Snakes & Lattes Inc. subsidiary. As a direct result of this, the company is believed to be in the strongest position in its history and is firmly positioned to continue its growth trajectory into the foreseeable future.The audit process has been a principle concern for the company and its shareholders, and we have received a number of queries relating to the projected completion date. This process has taken longer than expected, and we understand that previously released timeline updates created expectations of completion dates which unfortunately were not met. At this juncture, we are expecting the audit to be signed off on very soon, but we do not have an exact target date. To be absolutely clear, there is no indication that there are any issues of concern, and the company has no doubt that the audit will be completed. The company’s tremendous expansion over recent years will be verified shortly, at which point we intend to uplist to the OTCQB Venture Market and will continue to accelerate forward with our aggressive expansion plan. Snakes & Lattes U.S. Expansion TeamThe recently formed Snakes & Lattes USA Expansion team has already made significant strides in terms of growing the brand in the United States. We are currently in negotiations with 23 separate locations for potential Snakes & Lattes franchises/joint ventures by interested parties. Negotiations at this point are preliminary as we wait for the audited financial statements t...