Amfil Technologies Inc., the parent company of Snakes and Lattes, have announced it will release financials for 2018 and 2019 by the end of the month. The company stopped filing reports in November of 2018 as it began auditing financials in a potential ‘uplisting’ to a new market.
The company was able to continue trading, but lack of reporting caused them to receive a “Stop Sign” designation, or warning to shareholders, from the OTC market.
The company said it may not have been the best strategy to stop releasing reports, but that it has made changes, including new policies and procedures, that will help it commit to filing all future financial statements on time.
Amfil also said, in a press release, it was looking forward to putting the incident behind them, so it can focus on growth.
“Once completed (the audit), the company intends to further accelerate its comprehensive growth strategy including the opening of new Snakes & Lattes venues, the holiday sales rush of the Kill the Unicorns game title, and a multitude of additional initiatives which have been developing behind the scenes. We look forward to delivering maximum value back to our current shareholders while concurrently attracting a new range of investors and/or institutions following the submission of our audited financials.”