Correction: SNAKES & LATTES INC. REPORTS Q3 FY2025 QUARTERLY RESULTS

Snakes & Lattes Inc. / Amfil Technologies Inc. (OTC:FUNN) on May 20th, 2025 published the results for Fiscal Q3, being the quarter ending March 31st, 2025 for the Company.

A Summary Of The Report Is Listed Below:

• Gross Revenue of $2,087,498 $USD (A modest 5.58% increase from Q2)

• Gross Profit of $1,619,169 $USD (An increase of 4.16% from Q2)

• Total Expenses saw a reduction of 2.51% from Q2

• FY2025 cumulative revenue to date is $5,851,009 

• Common Stock Outstanding of 791,159,680 (not only unchanged in over a year, but seen a reduction in the past two years due to buybacks)

• No convertible debt instruments that could or would convert into future equity of the Company have been issued in almost 4.5 years now.

• In addition, four (4) of the final remaining 5 notes on the books were purchased in all cash deals to avoid any possible future conversions and negate any dilution to shareholders. They all pertained to the buildout of the second location in Arizona, dating back to 2019 / 2020.

• Current tradeable public float is 527,923,441, as of May 21, 2025. (Cumulative throughout trading history dating back to 1985 with no recapitalizations or reverse splits at any time in the Company's 39.5-year history.)

• With the successful negotiations and removal of over $2 million $USD in remaining debt last year and now with the successfully completed all cash buybacks of over $500,000 $USD in debt this month, the Company is proud to say that there is only one convertible note left on the books that has fixed conversion terms.  Current negotiations will hopefully finalize shortly to repurchase that final note, which will ultimately lead to the Company having re-purchased every one of them, and thereby having zero ($0) current convertible debt remaining.

• COGS remained steady at 22.43%, still maintaining and in keeping below the previously established target of having a 25% ceiling. With COGS decreasing all the while revenues increasing, the Company feels that the past and ongoing adjustments are reflecting and performing well.

• Accounts Receivable grew 387.36% which reflects activity of invoicing for planned future events.

The full report can be viewed at the following link:

https://www.otcmarkets.com/file/company/financial-report/466222/content

As always, the Company wants to say thank you to all our supporters, loyal guests, and staff. Creating memorable, quality human interactive experiences is what keeps the Company going, and at all times we keep the mission of ‘Snakes & Lattes locations coast to coast’ at the forefront of our strategy.

See you at Snakes & Lattes!

About Snakes & Lattes Inc. 

Snakes & Lattes Inc. currently operates numerous gaming bars and restaurants in Canada as well as the USA. The company is in the process of expanding throughout North America as well as other parts of the world. Snakes & Lattes Inc. was the first board game bar and cafe in North America and is believed to be the largest in the world. Our board game cafes have the largest circulating public library of board games in North America for customers to choose from. 

We also host a COMMUNITY forum: A tool to facilitate communication between shareholders and management. This is meant to encourage meaningful exchanges, 2-way conversations, discussion with management through Q&A, as well as exchanges between members. COMMUNITY also contains an internal forum and discussion for all shareholders. Management will periodically provide answers based on the most up to date information, subject to any regulatory restrictions. 

We encourage everyone to sign up at https://www.snakesandlattes.com/signup

For more information on Snakes & Lattes Inc., please visit the website at: www.snakesandlattes.com.

Forward Looking Statements (Safe Harbour)

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as well as others, and it is intended that all forward-looking statements that are made will be subject to the safe harbor protections created thereby. Forward-looking statements can be identified by forward-looking terminology such as “aim”, “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “confident”, “intend”, “may”, “might”, “plan”, “potential”, “predict”, “projection”, “seek”, “should,” “will” or “would”, or the negative thereof or other variations thereon or comparable terminology. In particular, statements that address guidance, outlook, targets, market trends or projections about the future, and statements regarding the Company’s expectations, beliefs, plans, strategies, objectives, prospects or assumptions, or future events or performance, contained in this release are forward-looking statements. The actual results, such as the Company's ability to finance, complete and consolidate acquisition of IP, assets, operating companies, etc. 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 has based these forward-looking statements on current expectations, assumptions, estimates and projections. Such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond FUNN’s control. These and other important factors, including those discussed more fully elsewhere in this release and in the Company’s filings may cause actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements, or could affect FUNN’S share price. The forward-looking statements contained in this release are not guarantees of future performance and actual results of operations, financial condition, and liquidity, and the development of the industry in which the Company operates may differ materially from the forward-looking statements contained in this release. Any forward-looking statement made in this release speaks only as of the date of such statement. Except as required by law, FUNN does not undertake any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this release.

Contact:

Roger Mortimer

Chairman of the Board & Investor Relations Representative

Snakes & Lattes Inc. / Amfil Technologies Inc.

Telephone: (647) 880 5887

Email: [email protected]