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Amfil Technologies Inc. Announces Fiscal Q2 2018 Revenues Up 114% Year Over Year to $3,307,549


Toronto, ON, Feb. 15, 2018 (GLOBE NEWSWIRE) -- Amfil Technologies Inc. (OTC:AMFE) is pleased to provide our shareholders with a summary of our Fiscal Q2 2018 Financials.

Revenues were up over 114% fiscal year over year from $1,542,389 in Q2 2017 to $3,307,549 in Q2 2018. Cash on hand as at December 31st 2017 was $352,213 with $74,484 in Prepaid Expenses, $484,243 in Accounts Receivable, $2,927,595 in Inventory and $2,742,279 in Property & Equipment putting the company at $6,580,814 in Total Assets. The company ended the quarter profitable with $1,518,337 in Gross Profit which was heavily reinvested in the construction, staffing, and general/admin costs associated with the opening of ‘Midtown', the largest location to date, leaving a net income of $88,766.

Q2 has historically been the largest revenue generating quarter for the Snakes & Lattes Inc. subsidiary which currently has the largest impact on the overall company's financial statements. This year however, some retailers placed larger orders through the distribution arm in Q1, and these orders were received, fulfilled, and shipped during the first fiscal quarter resulting in Q1 absorbing the majority of the holiday sales spike. These increased purchase orders from a few large retailers in Q1 ended up being their holiday season stock and therefore the re-orders did not appear in Q2 but are anticipated for Q3 and Q4. The Q2 revenue numbers also do not include a number of large sales made during the quarter, where the contract was not fully completed or fulfilled by the end of the quarter and therefore not recognized in Q2.

The company remains on an upward trajectory, with revenues exceeding $9M only two quarters in to Fiscal 2018 thus already surpassing the entire 2017 Fiscal year by 39% or over $2.5M USD.

The Snakes & Lattes ‘Midtown' location soft launched in the final few weeks of the quarter and therefore did not contribute to revenue in any significant way. The location is now fully operational and generating revenue as anticipated which should significantly contribute to increased retail revenues for Q3 and beyond. A number of US and Canadian franchise and joint venture initiatives have already been capitalized on and there are more in the works. We therefore anticipate further positive impact moving forward as additional retail locations continue to open this year. With revenues doubling year over year in Q2 without the impact of Midtown, and the exclusion of partially filled contracts at end of quarter, it clearly shows the growth of the distribution side of the business which has become a large focus in the recent past. The distribution arm of Snakes and Lattes Inc. continues to ramp up and a number of new accounts have been recently added. We will be making some announcements in the near future regarding the overall expansion and behind the scenes progress of the Snakes & Lattes Inc. subsidiary.

The acquisition of Natural Stuff Inc. was completed midway through the quarter and only minimally contributed to overall company revenues. We are anticipating this subsidiary to grow and expand moving forward as a result of a number of major achievements made since the acquisition. A number of new accounts have recently been opened by Natural Stuff Inc. and additional product lines have been added to the pipeline of distributed products. Further details related to this subsidiary will be made public in a detailed and stand alone press release in the near future.

A number of updates can be expected on the GRO3, Snakes & Lattes Inc, and Natural Stuff Inc subsidiaries before the end of the month and throughout the month of March. We are still awaiting the finalization of the company audit in order to uplist. After recent discussions with the auditors, we are expecting completion of audit and uplist very soon.

For more information regarding the company, please visit and follow us on Twitter for further updates @AmfilTech.

For more information on Snakes & Lattes Inc. please visit

For more information on GRO3, please visit

For more information on Natural Stuff Inc, please visit

For more information on Interloc-Kings Inc, please visit

About Us:

Amfil Technologies, Inc. is the parent company to four wholly owned subsidiaries.

1). Snakes & Lagers Inc. holds the trade name and is the owner of Snakes & Lattes Inc. which currently operates 3 tabletop gaming bars and cafes located in Toronto, Ontario that brought in over $7M CAD in revenue last year. The company is in the process of franchising throughout North America. Snakes & Lattes Inc. was the first board game bar and cafe in North America, is believed to be the largest in the world and have the largest circulating public library of board games in North America for customers to choose from. Snakes & Lattes Inc. currently has a 100+ member staff and recently acquired the exclusive distribution rights throughout Canada for some of the most popular board games in the world. The company also operates a lucrative fulfillment and distribution division and has recently entered into the board game publishing business which is expected to add significant revenues to the bottom line. For more information on Snakes & Lattes Inc. feel free to visit the website

2). The EcoPr03 GRO3 Antimicrobial System was jointly developed between Amfil Tech and A.C.T.S. Inc. which recently rebranded its technology under Advanced Ozone Integration as an extension of the existing ozone technology being utilized in the food and beverage industry and integrated by A.C.T.S. into companies such as Pepsi, Nestle, Sysco, Sun Pacific and many others. The system is a triple-function sanitization unit capable of naturally eliminating 99.9% of water and airborne pathogens and the typically problematic pests that wreak havoc for cultivators (like aphids, whiteflies and spider mites), as well as bacteria, fungus, microbes and mold on surfaces, all without chemicals. The unit can also constantly regulate a given facility's water supply, oxygenating the water and maintaining a consistent PPM infusion of ozone that prevents the formation of algae, bacteria or mold (allowing for comprehensive water recycling), simultaneously removing the need to use pesticides and/or dangerous, often carcinogenic products to treat production problems, as is common throughout the industry today. This environmentally-friendly solution also eliminates odors, while slightly reducing the air temperature, lowering energy consumption by the HEPA filtration and HVAC systems and could potentially allow for a facilities process to be labeled certified organic in the U.S.A. when the crop is no longer considered illegal on the federal level, otherwise "Clean Green" or "Certified Kind" in the meantime. The EcoPr03 GRO3 Antimicrobial System recently passed product review by a registered USDA certifying agent for use in California as well as Pennsylvania and surrounding states. The subsidiary has developed a strategic partnership with Roto Gro, the creator of proprietary rotary hydroponic technology. More information on this product line can be found on thewww.gro3systems.comwebsite or on twitter @GRO3Systems.

3). Interloc-Kings Inc. is a hardscape construction company servicing the Greater Toronto Area. This subsidiary is an authorized Unilock installer, Unilock being, North America's premier manufacturer of concrete interlocking paving stones and segmental wall products. Interloc-Kings Inc. has an A+ Rating with the Better Business Bureau (BBB) and a 10/10 rating on Specializing in stone and wood installations between $5,000 and $150,000 per project, Interloc-Kings Inc. has quickly become a top, high quality installation company of outdoor living areas in the GTA. More information on this subsidiary can be found at the

4) Natural Stuff Inc. For over 20 years, Natural Stuff Inc. has been distributing high-quality, value products. Since 1994, the business and delivery system have been satisfying grocery, chain, discount department, and convenience store customers. Wholesalers, vending and catering services are some of our best clients. Natural Stuff Inc. is always searching for new and exciting snack food & drink products to boost in-store sales and drive business and is growing every day.

Safe Harbor Statement

This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results, new features or services, or management strategies) and other factors discussed from time to time in the Company's OTC Market or Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "confident," "intend," "plan" and other similar expressions. Our actual results, such as the Company's ability to finance, complete and consolidate acquisition of IP, assets and operating companies, 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 disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Roger Mortimer

Amfil Technologies Inc.

Telephone: (647) 880-5887


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