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Amfil Technologies, Inc. Revenues Increased to $1,809,064 for Q3 2017 Posting a 26,600% Growth Rate Over Q3 2016
Amfil Technologies, Inc. Revenues Increased to $1,809,064 for Q3 2017 Posting a 26,600% Growth Rate Over Q3 2016.
About this update from Amfil Technologies Inc.
[{"type":"text","content":"\n \n \n Amfil Technologies, Inc. Revenues Increased to $1,809,064 for Q3 2017 Posting a 26,600% Growth Rate Over Q3 2016\n \n \nAmfil Technologies, Inc. Revenues Increased to $1,809,064 for Q3 2017 Posting a 26,600% Growth Rate Over Q3 2016\n \n TORONTO, ON--(Marketwired - May 8, 2017) - Amfil Technologies, Inc. (OTC PINK: AMFE) is pleased to provide the shareholders and investment community an update regarding our Q3 2017 financial statements posted today. \n \n \n Revenues of $1,809,064 despite Q3 2017 historically being the slowest calendar quarter for the company's subsidiaries. This is up $266,675 or 17% compared to last quarter which is historically the best calendar quarter (the Christmas & Holiday Quarter). \n \n \nInventory increased $1,455,592 or 43.2% to $4,825,173 in Q3 2017 in comparison to $3,369,581 in Q2 2017 in preparation of expected future fulfillment and sales contracts throughout 2017. \n \n \nIssued & Outstanding common share count reduction of 43.8% from 791,919,764 to 444,807,264. \n \n \nTotal Assets increased $1,376,652 or 27.5% from $5,007,437 in Q2 2017 to $6,384,089 in Q3 2017. \n \n \nVisit www.otcmarkets.com/stock/AMFE/filings for the full Q3 report. \n \n \n The company saw a 17% increase in revenues from $1,542,389 in fiscal Q2 2017 to $1,809,064 in fiscal Q3 2017. This is quite significant considering that Q2 (the Christmas and Holiday period) is historically the best performing quarter for the company's subsidiaries and this was beaten in what is known historically to be the slowest calendar quarter for the subsidiaries. This is very promising and on pace with our expectations of continued rapid growth and expansion for Amfil Technologies, Inc. and its group of companies. \n January to March is usually a slow quarter for retail sales and therefore lower margins due to a significant portion of revenue being received through Amazon and other lower margin purchasing outlets. Returns and markdowns following the holiday season historically had a large impact on the fiscal Q3 numbers produced by Snakes & Lattes Inc. The fact that fiscal Q3 2017 revenues surpassed that of the high margin retail sales holiday quarter of fiscal Q2 is just one of many confirmations of the company's expected and continued growth over the next tw...