Amfil Technologies, Inc. (formerly Technical Ventures Inc.) was initially founded in 1998 as a company providing consulting/engineering services, primarily to the Food & Beverage Manufacturing Industry. Services provided included project management, advanced manufacturing, equipment procurement / implementation, quality assurance improvement, plant upgrades, etc. Given the changes in the global economy and the challenges of competing in the multi-billion dollar food service industry, Amfil management has decided it is in the best interest of shareholders to refocus. Amfil has subsequently announced a new business approach. Management recognizes the importance of generating income and remaining a self-sustaining cash-flow positive company. To this end their first acquisition is a growth-oriented, net positive income generating business based in the GTA (Greater Toronto Area) called Interloc-Kings Inc. Management plans to build upon this approach and work towards acquiring additional profit generating companies in similar businesses, aiming to achieve aggressive growth and sustain positive cash flow. Management feels this will give shareholders the best return on their investment in today's business climate. Management will also seek and develop new technologies which make economic sense to the company, and complement it's existing businesses and assets. *Amfil is also the 100% owner of highly prospective gold mineral property rights in Guyana which the company plans to further explore and develop in due course. Previous Incarnation Amfil started out as Technical Ventures Inc., a New York Corporation formed June 14, 1985 to raise capital for the purpose of seeking potential business acquistions throughout North America. The primary objective of the Company was to search for a business(es) which in the opinion of its management, demonstrated the long-term growth potential that would warrant involvement. Technical Ventures Inc.'s subsidiary Mortile Industries Ltd., dealt in the design, development, and manufacture of proprietary polymers, composite and specialty compounds; additionally Mortile compounded proprietary formulations of customers. The application of TVI's products expanded into every area of plastics. Business was recurrent, because of the technical complexity of the various products and loyalty to TVI of their customers. Amfil has also never implemented a "consolidation or "share roll back" in its 27 years history.
Interloc-Kings Inc. Acquisition- Aug 01 2013 AMFE Acquision Filing...
AMFIL TECHNOLOGIES, INC. FILES (8-K) Disclosing Entry into a Material Definitive Agreement Edgar Online "Glimpses" ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
(a) On August 1st, 2013, the Board of Directors of Amfil Technologies, Inc. in sequence with an LOI submitted on July 16th, 2013, duly entered into a Definitive Acquisition Agreement with Interloc-Kings Inc. in compliance with a majority shareholder consent that had been obtained to do so. The Definitive Acquisition Agreement is more particularly described in the attached exhibits. The Acquisition of Interloc-Kings Inc. with it market expandability potential and its growing product lines and systems brings renewed vitalization into the company along with the commitment to continue to explore opportunities with the gold exploratory projects.
ITEM 5.02 ELECTION OF DIRECTOR
(a) On August 1st, 2013, the Board of Directors approved the appointment of Mr. Roger Mortimer to the Board of Directors and as President of Amfil Technologies, Inc. Mr. Mortimer has a B.A. from Wilfred Laurier University. Mr. Mortimer established Interloc-Kings Inc. April 2009 and increased yearly customer base by over 400% in past 4 years and has become one of the largest residential service companies in the region. Mr. Mortimer developed a network of relationships /contacts and strategic alliances in his related industry with some of the largest suppliers, distributors and competitors in the industry. His strong communication and inter-personnel skills will also be a valuable asset to the company.
This Form 8-K may contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and Safe Harbor Statements under the Private Securities Litigation Reform Act of 1995; The actual results could differ materially from those set forth in the forward looking statements that are subject to risks and uncertainties, including, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results, and other risks.
"Amfil is focused on growing shareholder value by allowing investors access to self-sustaining small to medium sized businesses with proven profitable strategies, and identified as having substantial potential for future growth. Amfil seeks to achieve long-term financial returns consisting of regular dividend income, benefiting from preferential tax treatment, and expecting modest mid-to-long term capital growth. Amfil Technologies primarily invests in small to mid-sized companies with above average service capacity, growth potential or existing market share."
Management plans to increase share valuation through acquisitions of small to medium size companies which have the following characteristics:
A) Profitable with little or no debt.
B) Self-sustaining, allowing management to focus on increasing business.
C) Have scalable operations.
D) Are utilizing a proven business model in growth phase.
E) Possess a unique or proprietary technology containing blue-sky growth possibilities and low overhead, such as mobile applications.
Management plans to work with these "income generating" companies with complementary sales among company divisions. This strategy is twofold: a)It will allow Amfil to seek additional acquisitions; Will enable the company to hire key personnel and purchase the necessary equipment to explore and develop the Guyana gold mineralization properties to which AMFE owns the exclusive rights.