AMFE Weekly Chart - Fib. Extension + Elliot WaveA newbs attempt at Elliot Wave Theory and Fibonacci Extension analysis for Amfil Technologies.
New to E-Wave but it looks to me like the next wave up is about to begin.
I think it's safe to say that AMFE has performed beyond most traders expectations during 2017. Starting the year as a sub-penny pinky, Amfil managed to grow it's business and it's share price significantly over the last 12 months - seeing revenue go from 1.8 million (Jan-Mar:FY2017 Q3) to 5.9 million (Jul-Oct:FY2018 Q1) and a rise in PPS of more than 1600% from .009 to .154.
Looking forward there's plenty to be excited about here for 2018. Snakes and Lattes' highly anticipated Franchising has already begun and will look to continue this year by crashing through the American/Canadian border with an aggressive roll out strategy for the US market. Looking to start in Chicago with a corporate owned location, that will also serve as the US distribution hub, and proceed to every major city in the US with a mixture of corporate/frachised locations - digging through the clues it looks like Phoenix Arizona will be one of the first Franchise locations south of the border. Snakes and Lattes is not just a board game cafe, they are also a distributor and now publisher of games. Holding exclusive distribution rights in Canada to many of the hottest titles including the ever popular party game, Cards Against Humanity. Once they have penetrated the US market, look for Snakes and Lattes' distribution arm to possibly obtain some of those same exclusive distribution rights for the states as well.
Snakes and Lattes isn't the only major business Amfil has in its stable, there's also GRO3. GRO3 is the marijuana industry's solution to pesticides and other contaminates found in marijuana grow facilities. The patent pending GRO3 system uses Ozone (O3) to sterilize both the growing facility and the hydroponic grow solution, keeping everything clear of mold and mildew, algae, bacteria, mites and other small, crop damaging insects that can reek havoc on a large commercial growing operation. GRO3 has been certified organic through PCO (Pennsylvania Certified Organic) - PCO’s certification program is accredited by the USDA for compliance with the National Organic Program. IMO we will be seeing a rise in Organic Cannabis being sold at a premium, compared to non organically grown cannabis, just like we see with our fruits and vegetables at grocery stores around the country. With laws requiring the testing of all cannabis crops for pesticides and mold coming down from government regulators as MJ goes legal, one can expect a spike in interest in GRO3 over the coming months/year.
AMFE is on the verge of completing a 3 year audit of the companies financials. Once complete the company plans on up-listing to the OTCQB or OTCQX depending on share price. This should be a significant catalyst for a decent move north. Following the up-list the comapny plans on spinning off its Interlock Kings subsidiary in the form of a pro-rata dividend. If you haven't looked at AMFE before, now is a good time to do some digging!
GLTA
