Amfil Technologies Inc (OTCMKTS:AMFE) shares advanced 11.83% on Tuesday to $0.0189 and were unchanged in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.03. The company has a market cap of $14.52 million at 791.92 million shares outstanding.
Amfil Technologies Inc is a company that operates through its subsidiary, Interloc-Kings Inc, which offers landscape construction and snow removal services in Canada. It also supplies and installs residential and commercial hardscape construction projects, including interlocking stone driveways, walkways, back patio’s, retaining walls and steps, fences, decks and pools, among others during the summer season. Interloc also provides residential winter services in Markham, including winter maintenance services.
The company also owns the rights to Medium Scale Prospecting Mining Permits to over nine sites totaling approximately 10,300 acres in Guyana for exploration of gold. It holds approximately 50% interest in mPact-GROZONE Antimicrobial Systems with distribution rights across the world. The company’s other subsidiaries include Snakes & Lagers Inc. and Snakes & Lattes Inc., which operate board game themed bars and cafes in downtown Toronto, Ontario, Canada.
In a press release, Amfil Technologies Inc shared that the GROzone product line recently received a positive review from Pennsylvania Certified Organic allowing their clients to use it in organic production. Pennsylvania Certified Organics certification program is accredited by the USDA for compliance with the National Organic Program, even as the USDA currently does not recognize it as a crop that can be organically grown or called certified organic just yet.
Still, being allowed to use this product line for any and all forms of what is currently deemed agricultural production is reassuring as marijuana cultivators that want to follow organic practices essentially follow the National Organic Program guidelines. Alternate certifications are currently being developed for the industry.
Also, achieving this certified status allows producers such as Amfil Technologies Inc to charge a premium for “Clean” or “Organic” products. Aside from that, it helps ensure that the producer or manufacturer will never have product recall or product failure due to any elevated levels of harmful ingredients used throughout the grow process that can make them susceptible to liability from the consumer. After all, some reports have revealed that residual pesticide in marijuana led to product recalls and lawsuits recently.
Originally developed in 2014, GROzone is a triple-function sanitization unit capable of naturally eliminating 99.9% of water and airborne pathogens. A unit can also 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, eliminating the need for pesticides or carcinogenic products.
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