Amfil Technologies Inc. (OTCMKTS:AMFE)
Amfil Technologies Inc. (OTCMKTS:AMFE) traded lower a day after announcing plans to franchise the Snakes & Lattes retail division throughout North America. The stock was down by 2.48% in Wednesday’s trading session to end the day at $0.1845 a share.
Shares of Amfil Technologies Inc. (OTCMKTS:AMFE) have been on an impressive run ever since they plummeted to lows of $0.02 a share earlier in the year. The stock rose to highs of $0.22 a share early this month before pulling back to $0.17. The stock is currently trading at the higher end of its $0.17 to $0.184 trading range waiting to see if it can rally to 52-week highs of $0.23 a share after pulling back in recent trading sessions.
Amfil Technologies Inc. (OTCMKTS:AMFE), through its subsidiary Interlock Kings Inc., offers landscape construction and snow removal services. The company has also made a name for itself in the gaming business through the Snakes & Lattes subsidiary that offers tabletop games for bars and cafes.
The rise in popularity for the company’s tabletop gaming bars/cafes in Toronto and Ontario has prompted the franchising push as part of an expansion drive. The company’s largest café/bar location is set to open in September and will be used as the flagship location for all future locations.
“With interest in the Snakes & Lattes Inc. retail locations surging at such a tremendous rate, management has decided that the most effective way to supply enough venues to meet the demand from patrons is to begin leasing franchises,” Amfil Technologies in a statement.
Amfil Technologies Inc. (OTCMKTS:AMFE) expects the franchise drive to allow it expand rapidly across North America which in return should have a positive impact on revenue generation going forward. The first franchise locations will be open early next year as the company is currently in the process of building the required foundation to execute the plan.
The company has started to interview experienced candidates that are expected to provide expertise relating to high volume franchise. In addition to building an experienced franchising team Amfil Technologies Inc. (OTCMKTS:AMFE) plans to engage the services of an experienced lawyer to guide the purchase and sale of franchise systems. The whole team should be up and ready before the end of the year.
Amfil Technologies Inc. (OTCMKTS:AMFE) also plans to hire an experienced high-end graphic design artist with extensive experience in working on major projects. The artist is to produce cover art work advertising packaging and game surfaces for new game title marketed through Snakes and Lattes Inc.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.