Business
SNAKES & LATTES INC. - Q3 FY2023 POSTS CONTINUED STRONG GROWTH
SNAKES & LATTES INC. - Q3 FY2023 POSTS CONTINUED STRONG GROWTH.
About this update from Amfil Technologies Inc.
[{"type":"text","content":"SNAKES & LATTES INC. (OTC: FUNN), owner and operator of the first and largest board game entertainment venues in North America specializing in full-service bar / restaurant offerings, today announced financial results for the quarter ended March 31, 2023 (Q3 FY2023).Key Third Quarter Fiscal Year 2023 Highlights (All numbers are in USD)Revenue of $2,402,274 for the quarter, an increase of $905,065 or 60.45% compared to Q3 FY2022 and an increase of 226.35% compared to Q3 FY2021Acquired a new Brick & Mortar gaming location in Virginia Beach VA in early March 2023Record quarter for the ‘Tempe’, ‘Chicago’, ‘Tucson’, ‘Provo’ and ‘Midtown’ locations.Best quarter since COVID for the ‘College’ and ‘Annex’ locations. Security Details & Shareholders EquityNo Change in the Outstanding Share Count (Since Apr. 27, 2022)No New Convertible Notes Issued (Since Feb. 22, 2021)No Change in the Public Float (Since June 2, 2022)“Snakes & Lattes Inc. is proud to announce another great quarter of increasing revenues. Walk-in sales across the board are increasing throughout all locations in the USA and Canada. Our focus on hosted retail and corporate events has also continued to receive a very positive reaction. These factors combined with our newest ‘Virginia Beach’ location has allowed the company to report yet another strong quarter of increasing revenues and annual growth.” said Snakes & Lattes founder Ben Castanie. “It is a very exciting time! The Snakes & Lattes ‘Tempe’, ‘Chicago’, ‘Tucson’, ‘Provo’ and ‘Midtown’ locations all experienced a record-breaking quarter while the ‘College’ and ‘Annex’ locations both had their best quarter since COVID. Industry momentum we are experiencing is at an all time high. The sheer amount of business interest in Snakes & Lattes is keeping us non-stop with our expansion efforts and we are excited to bring our shareholders and the investment community at large future positive announcements of the ongoing initiatives being worked on behind the scenes as they materialize and unfold.”Key Third Quarter Fiscal Year 2023 Metrics (All numbers are in USD)Cash on Hand is up 230.3% to $176,452Accounts Receivable is up 115% to $67,866Accounts Payable is down 10.41% to $2,770,601Total Assets are up 8% to $4,203,084Short Term Debt is up 2.7% to $2,550,857Long Term Debt is down 45.3% to $494,051N...