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SNAKES & LATTES INC. Reports An Increase Of 48.54% YOY Revenue Growth To $9,008,824 For FYE 2023. Gross Profits Up 59.47% To $6,734,436
SNAKES & LATTES INC. Reports An Increase Of 48.54% YOY Revenue Growth To $9,008,824 For FYE 2023. Gross Profits Up 59.47% To $6,734,436.
About this update from Amfil Technologies Inc.
[{"type":"text","content":"SNAKES & LATTES INC. (OTC: FUNN) is pleased to report a 48.54% increase in YOY Revenue for FY2023, totaling $9,008,824, up from $6,064,896 for FY2022. Gross Profits are also up 59.47% YOY from $4,223,022 to $6,734,436.The Company saw a growing positive trend with regards to the cost of goods sold (COGS) which are down about 5% to approximately 25% now. This is yet another step in the right direction and will also help towards any and all future acquisitions and expansions that are being worked on.Net Income improved by 48.30% with -$1,080,709 FY2023 compared to -$2,089,972 FY2022.The total outstanding common share count of the company was 792,756,731 as of June 30th, 2023. This is a running total, not just of Snakes & Lattes Inc, but of the entirety of the public entity (OTC: FUNN) since inception in 1986.“Fiscal year 2023 was a pretty good year for the Company. From adding a prime new location in Virginia Beach at an extremely low interest rate with no convertible notes or stock attached to the deal (the 8th location now), winning the TAGIE award, (beating out the likes of companies such as Disney (Star Wars), Barnes and Noble, F.A.O. Schwarz, Hasbro Pulse, etc., reducing debt, increasing revenues, alongside many other positive things, the Company is certainly doing everything it can to fire on all cylinders to the best of its abilities. We have now had 8 quarters in a row of increasing growth, and we expect to continue to trend in this direction as we continue to work on executing on all of our initiatives that are currently ongoing. The day in and day out commitment that the company’s almost 300 staff members now give to Snakes & Lattes is amazing! We cannot thank them enough and all that great work and effort is verified by the continuous improvement we keep seeing in all our KPI's. We also cannot thank our shareholders and supporters enough, even though sure, it has not been reflected in our share price necessarily just yet. That will come. We have a lot of opportunities we are exploring, and I’m excited about what we have accomplished, but also, and more importantly, where we can be and where we will be going in the future!” said Snakes & Lattes Inc. Founder, Ben Castanie. The past fiscal year continues the strong positive shift the Company felt in Fiscal Year 2022. It was not easy, but we are here and...