Amfil Technologies : Snakes & Lattes Inc. provides responses for Q&A

Snakes & Lattes Inc. provides responses for Q&APress Release | 08/22/2022

We are providing responses for all the Questions sent in from the request put out in the August 12th Press Release.There was a total of 95 questions received, with a reduction for duplicates. Thank you to all our supporters for taking the time to send in questions. We are appreciative to have such an active group of stakeholders.

Questions were consolidated where a single response was sufficient to answer the various permutations of the same core question. Questions may have also been truncated where the extra material did not change the nature of the question, was simply extraneous or repetitious.

"We appreciate the large response from the Snakes investor community, hopefully this serves as a bit of catch up from the extended quiet time. We intend to resume a more regular schedule of communications and press releases." said Snakes & Lattes Inc. Founder, Ben Castanie.

A few items of note as the responses are reviewed to provide context or clarity for future communication:

• In this release we mention funding for two more locations and our current due diligence on specific locations. We will provide more details in the future as we move down the path to a new contract and lease.
• We did have a good FY22Q4 despite all the challenges we have faced this year. The Annual financial report will be released on time.
• There was one improvement project that started that has not been mentioned before. The Chicago location was the pioneer in letting guests order directly from their phone. Guests can choose the level of interaction they desire. The program was a success and it is being implemented in Tempe at the moment, followed by Tucson. The main idea behind it is to avoid interrupting guests while they play and give them the leeway to order without waiting for a service staff. At the end of their stay, guests have the ability to settle their bill from their phone. Ordering at your leisure fits well inside our model, which calls for longer stay and spreads the kitchen load.This gives our Front of House staff more time to focus on the experience, the games, and alleviate lots of stress on both sides.
• Since acquiring Good Move, We have boarded and trained a staff of 18. We have transitioned to our methods and software. The former owners were very helpful during the past couple of months and we were able to keep operating during the ownership change. We are very thankful to them.

Stay tuned for more information. We will release news and continue to communicate as solid information becomes available. We do not predict a long quiet period like we just experienced prior to the next release that were due to extraordinary circumstances.

Responses to Questions below in no particular order:

Why is the company so quiet for so long while the stock goes down? In other words, why doesnt the company consistently communicate with investors? There are plenty of things to put out, even in tweets. Things like good weekends, or big parties at one of the locations. Things that tell us that the company is alive and growing.

• As mentioned in the Press Release calling for questions, we recognize it has been a longer than usual period between updates at a corporate level. It has been an extremely busy time and Ben spent several months traveling around the USA. Anais's primary responsibility revolves around communication, marketing and social media management for our existing locations. Since taking over, our location communication has been very active. We have more content and activities being posted than ever before. The primary objective is to create content for our local Snakes & Lattes patrons.

Are you going to hire a PR firm at any point in the future to help us get word out that we are expanding and growing? It seems no one knows except the same people who have been investors for years. I thought we brought Anais Guilbert to do this, but haven't heard anything from her since she arrived.

• Limited resources require strategic application. We have future plans on corporate marketing, but choose to spend resources on creating a stronger base of locations and optimizing the existing ones. Anais's primary responsibility revolves around communication, marketing and social media management for our existing locations, not focused on corporate level communications.

What happened to the quarterly summary report P.R. started by Rogen that we came to appreciate? We never saw the one expected for this past fiscal quarter.

• We understand and can appreciate the Quarterly summary was viewed favorably and plan to bring that back something similar in the future; a modern incarnate to address a comprehensive set of subjects. The intention was to start this quarter, but with John Foxs retirement Bens schedule was overwhelming (between handling regular operations and traveling constantly around the USA) the past 3 months.

Why haven't we heard from Anais Guilbert as Director of Marketing for Snakes & Lattes?

• Communication to Shareholders has never been part of Anais prerogatives. As previously answered, Anais's primary responsibility revolves around communication, marketing and social media management for our existing locations, not focused on corporate level communications. Hiring an IR firm or a dedicated resource for corporate level communication is in the future plans, but the current focus of resources is on other objectives.

Is it possible to put a page on the website that lists who the BOD is and Director level positions with pictures of the people and a brief Bio? Most corporate websites have this and I think it would be helpful for future investors.

• We agree this is a good idea for the future. Currently the Board of Directors is only a few people. As we add talent to either advise management or be part of active executive management we will add their bio to the website.

Are shareholders going to get better updates or are you continuing to run the business as you have been?

• We currently plan to get back to a Quarterly Summary to accompany the financials, continue periodic Q&A and hold an Annual Shareholder's Meeting on top of any general announcements the company will issue press releases for.

Why isn't our PR person working to get our name out into the world of investing?

• As previously answered, Anais's primary responsibility revolves around communication, marketing and social media management for our existing locations, not focused on corporate level communications. We are still recovering from the pandemic. Future plans contain a proper corporate level IR firm or a directly hired resource. Currently the focus is on locations, strategic partnerships and achieving corporate level profitability.

When is the company going to nurture the public side of the company? When will we get at least one person completely devoted to honestly and consistently communicating with current shareholders, and trying to attract new investors?

• Limited resources require strategic application. We have future plans on corporate marketing, but choose to spend resources on creating a stronger base of locations and optimizing the existing ones. Currently the focus is on locations, strategic partnerships and achieving corporate level profitability. As we gain ground towards these goals this will allow for the next level of corporate maturity for corporate and investor marketing.

Is the USA expansion team going to get someone to replace the retired Mr. Fox?

• Ben spent a significant amount of time in the USA over the past 3 months. A lot of this is working with other people beyond John Fox to continue the USA expansion team.

Are you planning to expand more this year, or strengthen the existing cafes first?

• A significant focus is on achieving profitability at all existing locations. That said, at any given time we are in various stages chatting with board game cafe or bar owners concerning new opportunities / conversions. This is simply an active activity that is part of the management team's life. Recognize we look and explore a number of opportunities before we find one that moves forward. For Example, In 2021 spent time reviewing 9 different deals and closed on what led to the Provo, UTAH acquisition in early 2022. There are two locations in particular that seem very promising and are funded pending both parties closing. We strive to maintain strict criteria on size, location and equipment. The financials need to make sense, and as we have seen, the landlord must be amenable.

Are we still working with the partnership in California?

• Yes, this opportunity with a well known Video Game company is still in the works. However this will be a calendar year 2023 corporate project.

What is the plan to continue to lead as other companies enter the space?

• This is why we are focused on location expansion. We are working to establish our brand as a National one. Competition will be on a smaller scale local BGC, and we think that is great and healthy for the industry.

Tell us where you see us in 6 months to a year, and what motion(s) has been put in place.

• Our focus is on expansion in the US over Canada as employee costs are more restricting. We believe we will have opened another location or two by then. We have two locations fully funded, and a short list of potential places we are in active negotiations.

Do you have any Big investors potentially to partner with to bring it to the next level?

• We have been in talks with Venture Capitalists, Seed Funds, whether specialized in Restaurant Chain, Franchise, or from the Gaming Side. This is specifically why our current focus is on location expansion / optimization, etc. These investors have requirements and conditions to engage in larger investments. We also consider some smaller direct investments e.g. if the terms are good and done at fixed conversion prices.

Many companies are embracing the franchise concept. S&L has a wonderful brand recognition and would be ideal. Has this been discussed as a possible path forward for faster growth?

• Definitely. The critical key for franchising is showing a strong P&L per location, with Net Profit and Positive EBITDA. To get franchising going in the US, we needed to have proof of concept in the US; our Canada based locations data cannot be considered. This again goes back to our current corporate focus.

How many Mr. Beast burgers has Snakes sold or delivered so far?

• Implementation of Mr. Beast is still planned, but has been delayed due to the economic climate. We have had significant challenges hiring staff, especially to work the Back House positions for Mr. Beast and delivery services like Doordash. We intend to implement the concept locations in Provo, UT and College, Toronto as soon as viable.

What is the U.S. team doing as you say nothing about them, is there still such a thing?

• Most definitely, we still have a group of folks helping review potential locations and connect us with funding. We are actively scouting two such funded locations as of this response, as are always in various stages of reviewing new opportunities

What are the plans for expansion? Who is leading US expansion now that Jon Fox is no longer around? It seems we're allowing others to enter the space, which they already are. One company with major funds behind them could come in and take over the industry.

• There will always be competition, this is a given and healthy to a certain extent. Funding has been especially challenging for retail since the Pandemic and now current recession type climate. This goes back to our expansion efforts and working with individuals on connecting with private funding for new locations. While John Fox was the US expansion lead, there have been others involved who are continuing the same efforts.

Without being profitable, How are you going to fund operations going forward?

• There is always a cash flow balance to be maintained. As mentioned elsewhere in this press release, Management personally has been funding operations during the worst of the pandemic. As cash flow increases we have more flexibility and seasonal cash flows provide more cushion. This is also why improvement in our location processes and drive to increase the per ticket amount is important. Every dollar more per ticket closes the gap towards profitability. For expanding operations, the best sources of funding for new locations are with private placements like what was done in Tempe. However Tempe was a total conversion and quite expensive. Gorgeous, but expensive. Our efforts are now on faster conversions with existing equipment and less kitchen overhaul.

Are any or all of the cafes cash flow positive?

• While some of the existing locations are profitable with a positive EBITDA, we are not cash flow positive as we are servicing interest and debt along with regular costs.

Are we looking for a CEO, or is Ben going to keep the position? It seems both have been stated.

• We need to keep costs in check while we are still securing funding and recovering from COVID. There will be a point in the future where we transition the company over to new executive management and / or strategic advisors.

Are we working out a settlement with Flat River?

• There was an agreed settlement already established. However COVID created an issue to follow the payment plan. We are currently in negotiations for a new plan. A significant portion of the debt has already been repaid.

Did they get their writ of garnishment approved in Arizona to go after the Tempe funds?

• We responded to the Writ of Garnishment with our arguments at a corporate level. Snakes & Lattes Tempe, LLC has no part in the matter.

Is Roger still working with the company? It seems he has been quiet since Rogen took over as CEO and never came back on board. Or is he just working for ILK now?

• Roger is most certainly working with the company. Roger is the chairman of the Board. His focus is on the public structure of the company with regards to requirements, and overseeing Corporate level activity. Roger also handles corporate level fundraising on favorable and non toxic terms to the company and shareholders (fixed price and not discounts tied to market price upon conversion.)

Are we still looking to spin off ILK and whatever is left from our other subsidiaries?

• This is still the future plan, as Interloc-Kings does not benefit from any synergy within the Snake and Lattes group.

Many millions of shares were given to the three directors recently, through preferred shares being issued. Why was the company diluted so heavily when we were already down? It came across as a slap in the face of average common shareholders. Are all those preferred convertible?

• When it comes to share issues, it is a matter of what is the best value for the company. In this case, debt reduction. Over 7 figures of debt was removed from company liabilities in exchange for various preferred issuances. The preferred can convert to common however they are not currently tradable on any market. Plus, there are no additional priorities or features (ie. super voting rights) etc. associated with the shares. These shares are only held by management. The timing of any preferred share issuance is not correlated to where the current common share trading price is sitting at any given moment. Larry Leverton has been VP and Secretary of the company since 1985. Larry has also not worked for any cash salary for over 15 years however did receive a one time payment in some preferred shares for all his past and continuing contributions to the company. Larry has been a valuable and giving asset to the company.

Please discuss the audit. Are we ever going to do one again? Will we eventually be able to uplist or offer franchises? Is that idea even on the table?

• Completing the next round of Audits and uplisting has always been a corporate growth goal. The previous audit and past 2 years have had us reconsider the Audit process itself. Audit costs are significant. At the point it makes sense to go through a new one, there will be a well defined plan. We are confident in our numbers and bookkeeping, so we anticipate a smoother audit next time. Of Note, Franchising does have other methods to confirm numbers as well.

Can you elaborate on tax liens on Tempe and did it play into not getting the LA location?

• Tempe has 2 tax liens: One from the Arizona department of Revenue and one from the IRS. We have negotiated reasonable payment plans and are following them to the letter. Completion of repayment is one requirement prior to engaging in larger financing rounds. The LA location was not connected to this in any way.

Can we expect a yearly shareholder meeting at some point, something required of all public companies?

• While an annual shareholder meeting is not a requirement of the OTCPink exchange, it is an important part in the future for the company. It is part of longer term planning, the priority remains on expansion and location profitability.

Any updates on FINRA and the name change of Amfil Technologies to Snakes & Lattes, Inc.?

• This project has a cost associated with it for both time and money. The FINRA scope for documentation is significant and the timeline is restricted. The benefit to cost ratio has decreased its priority. It is still on the table for the future but efforts spent now would not translate to enough benefit.

Why does the company do so little to attract new investors? Along the same lines, what is your plan for improving shareholders value?

• The purpose of the management strategy and focus is to grow the company. In turn puts us in a better position to secure larger rounds of financing. We currently work with small private investors to fund new locations, and ultimately we will build a national brand. As we increase revenues and locations, and show positive traction to full profitability even more fiscal opportunities open up. The fact we are securing private loans to open new locations is in fact, new investors. We don't control the day to day stock price, and taking in massive dilution in order to temporarily increase the stock price would ultimately create total failure. We do not plan to fail, and have no reason to believe we will.

Do you have another business name for Amfil Technologies ? That seems to have completely disappeared.

• The corporate name has changed and been updated to Snakes & Lattes, Inc.

Why are the back taxes and Flat River Group settlement still unpaid after 3 years? Where was that money owed reported in the prior Qs and Ks? (under which headings)

• All back taxes have been listed as liabilities since they were incurred. Due to the pandemic, limited cash flow has delayed full repayment. We are actively negotiating new terms that will allow us to continue payments through completion.

Does the company even know the stock price has dropped 95% in 5 years? What are you doing to get the stock to move up?

• We don't control the OTC stock price day to day, and to influence it one either has to have true growth, which we are actively working on, or take on massive toxic financing and have the funders promote the stock. Taking such financing would ultimately spell demise for the company, as it has many time over for other companies in the OTC market. We will not take toxic financing. We will focus on company growth and achieving sustainable profitability, that in turn will bring value, more opportunities and vastly increase true stock price value over time. Clearly the pandemic has had a major set back in our plans. We are still recovering from it, but are thankful we are still here with all the energy and opportunity in front of us. Many small retails have simply vanished. We forge on, continuing on our mission of Snakes and Lattes coast to coast in North America.

Happy to hear of Susans promotion. Now, is John Fox still involved somehow in the company and if so in what capacity? He too is / was a true asset.

• We thank John Fox for his contributions to the growth of Snakes & Lattes. John Fox has decided to retire from all employment and enjoy his life. He retired from the same job he had since 1991 as he did with us. John was certainly integral in getting our initial USA location in Tempe going, along with financing for Tucson. With the opening of Tempe, Susan joined our staff. Susan has been an incredible asset and she continues to grow with the company and increase in responsibility.

Why havent FUNN Execs successfully secured a low interest loan to cover 5 years of operations?

• Operating in the USA but located in Canada makes growth financing more challenging. Many loans can only be secured by US citizens. US Funders also want data of success in the USA and discount any achievement in Canada. There is a path forward, but as mentioned we need to build the company up enough, show a true footprint and traction to profitability prior to securing such funding. We are currently working with 2 banks for funding on a smaller scale to support immediate grow and optimization initiatives.

Will FUNN be authorizing more common shares to raise capital and dilute shareholder value?

• We take any dilution very seriously and have to see a direct benefit or sheer necessity prior to issuing more shares to secure funding. We seek to greatly reduce the amount going out. Keep in mind, the company has been ongoing since its inception in 1985. The share structure today is cumulative over the past 37 years as the company has never performed a recapitalization or reverse split in its entire history. The current tradeable public float of the company is approx. 500M shares. The total common shares issued is approx. 750M, with 7 figures revenue and a .01 share price all the while employing almost 200 employees. Apparently there are virtually not even a handful of other entities on our same stock exchange that can say the same thing or are in a similar overall scenario in terms of corporate structure, share price and care for the shareholders.

What is the reason that FUNN never makes a profit and has never made a profit in any year?

• As a growth company, there is expectation that the business has a direct path for achieving profitability at scale. As we made headway towards that goal, the pandemic was a major set-back we are still very much recovering from. We are, however, recovering. As reported, we even opened locations. during the past couple of years despite all the challenges. If there is a silver lining to this, it is that we became much more focused in strategic direction and shed part of the company that didn't fit with this direction. Individual location profitability is a priority, and building out USA locations is a priority. We are not seeking to expand in Canada as the environment is very difficult. If we expand in Canada it will have to be an extremely favorable deal for Snakes & Lattes with a direct path to profits for that location. We continue to balance debt, interest with cash flow and share issues as best possible to maximize long term success.

Why did Rogen leave the company with no clear explanation?

• It is not entirely unusual for executives to change out in companies. They can for many reasons, in this case it was simply a fit for all stakeholders involved. We thank Rogen for his contributions. Anyone is free to contact him if so concerned.

Why did Aaron leave the company and why no clear explanation?

• It is not entirely unusual for executives to change out in companies. They can for many reasons, in this case it was simply a fit for all stakeholders involved. We thank Aaron for his contributions. Anyone is free to contact him if so concerned.

Are any of the venues in danger of being shut down due to losses that we can't stop?

• There is always risk for any retail environment. As we have seen, Covid forever changed the landscape and has had a major impact on operations. It is not impossible we select certain locations for divestiture over time if we do not see a path to profitability for that location.

Why are we having a drag queen competition in Tucson? It seems this is a very divisive event. It may draw some people in, but it also offends others and we could lose business or get branded in a way we do not wish to do. Why would we do anything potentially divisive when we are still trying to get established in that market? Wouldn't sticking to trivia nights be a wiser move?

• We are a modern all-inclusive company and events draw crowds. Drag Queen events are surprisingly popular amongst our guests. The partnership is lucrative. Our patrons at large enjoy the events and modern society is not concerned with such issues. In fact, not having such types of events could easily be perceived as negative. We understand some could find it divisive but it is simply not the case for our core demographic, and our philosophy will remain all inclusive.

Whatever happened to our kiosks in Canada that were announced last year? Didn't we give away a few million shares to acquire those rights?

• The concept behind Cannabis retail was to solidify a partnership with a large chain of convenience stores.The idea was to embed the cannabis retail space within the stores. Unfortunately, this never materialized. There were many logistics, safety and regulatory hurdles in the way that were insurmountable at the time. We are not currently focused on the cannabis space. All resources must be put into the strategic direction of location optimization and expansion in the USA.

What happened with David Berkovits and the St. Catherine lease?

• The project ultimately took more resources, effort and had significantly higher regulatory and permitting barriers than anticipated. Given our limited resources, we have divested ourselves of any interest in the cannabis space until further notice. We are considering another much smaller scale Cannabis project, but this is more horizon term and will not post further updates on this until there is something concrete to communicate. It currently only exists in project future planning and we are not actively applying resources to it.

What happened to the customer loyalty program that was P.R.ed earlier this year?

• Most of our initiatives have been delayed due to hiring challenges. We continue to adapt to the ever changing environment. This is a significant and large project. Implementation is still planned, but slated for early 2023.

What happened to Morning, Walmart and Flat River?

• During preliminary discussions around the acquisition of Morning, we activated our connections to reach the new Walmart Game Buyer. At the Time, Walmart decided to compete head to head with Amazon. They were excited with the Red Panda and Kill the Unicorn Games and wanted to promote and use the games in their catalog. At the time, it was unclear how many physical stores would carry it but the potential for high volume was there. Kill the Unicorn was previously one of the most successful board game projects on Kickstarter. Production delay issues created an issue for Morning, making it difficult to fulfill their kickstarter backers.
• When we acquired Morning assets, we committed to fulfill the backers decided it was a small price to pay compared to the potential of the game; buyers all over the world showed interest. Our logistics capabilities in North America and our marketing ideas to promote the game started to take shape.
  
• Walmart committed to buy 10,000 games of each for a surprisingly high unit price, favorable to Morning. This equated to around $225,000. The anticipated production volume of Kill the Unicorn between Retail Copies and Kickstarter English and French was one of the largest print runs in the world of board games.
  
• Walmart put us in touch with their logistics partner, who issued us a Purchase order and offered to advance the entire cost.
  
• Summer 2018 was the beginning of some financial hardships. Our kickstarter and fulfillment activity was profitable but putting pressure on cash flow.
• The Midtown construction ended up costing a lot more than planned, and the 6 month delay for which rent was due further hurt us. At the same time the city of Toronto began a major street project around Midtown, hurting all business in the area for many months.
• At the same time, we were opening a Tempe, AZ location and going through our costly audit.
• Flat River advance was used as Deposit to start the print run. At this stage, Morning had an unpaid balance with the Manufacturer. We lost precious time to find another factory but no one was able to commit to such a large print run with that quality. It was decided to negotiate a partial payment plan for the past debt. The Manufacturer increased the deposit citing to mitigate risk on their end.
• We borrowed money against ownership in Morning to finance the Print Run, the games were made, but not in time for the holiday season.
• Flat River understood the situation but ended up canceling the order. The reason behind it is the Walmart initiative with board games did not gain traction and the buyer who was the soul of this program left the company. We obtained no answers from anyone at Walmart and were unable to contact decision makers there.
• The Result is that we ended up with 20,000 games, $225,000 debt toward the buyer and another large debt toward the financiers, to the risk of losing Morning ownership.
• The Games were hard to sell in such volume, we sold large amounts to distributors all over the world, which did make the game a success. European sales service the debt, but still required Morning to reduce in size, and stop all future projects.
• Despites record years, servicing the debt was a challenge. The audit was taking much longer than anticipated. Our accountant had moved on to a different opportunity, who was a primary resource for the audit. Ben took over the project to completion but it took a significant amount of time to provide all the documentation and reconcile all outstanding questions.
• At this point, we obtained a letter of intentions from private equity who believed in our model of vertical integration of games from Creation, Development, Production, fulfillment, and Retail along with the Snakes & Lattes brand doing promotion. The condition was the completion of the audit. Unfortunately, by the time our financial statements were signed, we were already out of compliance and due for another audit.
• Despite the successful sales, it wasn't enough to cover the entire debt obligations and the loan went to default. We reluctantly gave up ownership, after having spent so much time and energy on this project.
• We continued distribution and fulfillment up to the pandemic, and then made the strategic decision to solely focus on locations and expansion.

What happened to Starlit Citadel?

• Nothing in particular happened there. We acquired a portion of Starlit CItadels assets when they decided to shut down. Mainly the name, the website, and a list of current customers. The objective was to migrate as many customers as possible toward Snakes & Lattes Logistics. This was accomplished. The website alone brought numerous leads.

What happened to Loblaws?

• Loblaws is the largest grocery chain in Canada, headquartered in Toronto. They wished to open a new marketplace to compete with Amazon. At the time, these types of partnerships were common for us in our logistics and distribution branch. Loblaws selected us to be their partner, and it was exciting to be recognized and we were optimistic. Amazon entered the board game market in 2019, this made selling board games much more restricted to regular retailers, who couldnt compete on prices. Amazon ultimately was too strong of competition on shipping costs. In late 2019, we made the strategic decision to spin off our fulfillment division. The orders shipped to Loblaws in 2020 did not make money trying to compete with Amazon's costs. Once the pandemic hit, we stopped altogether to solely focus on locations.

Would it be possible to get a near-term and long-term set of plans with a rolling 90-day agenda of action items updated quarterly?

• The intention of a quarterly summary is around that concept, though more of a comprehensive report of current status. Other PR's tend to be forward looking. This is part of future planning.

When does Glendale open?

• The status of Glendale was reported in a PR on June 6th, 2022. The deal never closed as the landlord did not renew the lease. We lost no money on the deal, only time from management.

Year-to-date (2022) is the Chicago Snakes losing money or making a profit so far in 2022? It is is not making a profit, why are you not closing these money losing locations?

• Due to Covid, Snakes & Lattes Chicago has not been profitable since the acquisition. The location shows great potential and is trending very positive since the start of calendar year 2022. If we have a location that is not profitable and we cannot envision it becoming profitable, we may make the strategic decision to divest the particular location. This is most certainly not the case for Snakes & Lattes Chicago.

Where & how are you raising funds from?

• The majority of funds raised to help get us through the pandemic have been personally funded by FUNN management. We are committed to the company, and will leverage ourselves before taking any toxic funding.

Capital structure is max out! Is the plan to simply keep increasing the authorized / outstanding shares?

• Increases in AS occur to fulfill regulatory requirements for total common and preferred shares. Common shares are issued as necessary for critical items or initiatives. As previously mentioned we try to minimize issues. We certainly will not take any toxic funding.

Can management please provide a list of active assets / holdings?

• Our assets comprise of location IT Equipment, Kitchen Equipment, Leasehold tenant improvements and our inventory of board games and cafe stock items. (Snakes & Lattes)

Can management please provide a list of ALL closed / discontinued business operations?

• We stated we are solely focused on the highest margin portion of the business. This is running Snakes & Lattes locations. As previously mentioned we have discontinued fulfillment and distribution, publishing, the online store and marketplaces. At this time, we are no longer pursuing Cannabis retail. We divested any interest in the Kukum restaurant as well.

Please comment on current shareholder ownership structure especially with regards to insider / family / employee ownership! We have asked many times about Jacques Mortimer relation to Roger and share holdings.

• Beyond Roger, nobody owes more than 5% of the common stock. Jacques Mortimer is related to Roger and has been a long time investor, long before Snakes & Lattes was in the picture. Since investing, he has been a tremendous help and support to management, and has never received any compensation beyond our gratitude. Employee ownership will take place through Stock Options, at the moment, some employees and directors own shares right out. As the company matures and scales, we plan to create an Employee stock option plan. This will not happen until we are in a position to secure larger funding from banks, complete and be current on audits, etc.

What is the status of the SnL App?

• Canadians have access to a webApp. (https://app.tableup.com/r/1532/home) The new POS (Point of Sale) solution TOAST has very good API capabilities. Most likely we will be rolling it out in Canada. Our partner BoardGame2Go has developed a platform that we may share. We do not currently have a start date for this initiative.

Can management provide a clear job description for the multiple employees / owners? What are the job requirements & duties for:

Roger Mortimer:

• Roger is the Chairman of the Board, and a majority shareholder of Snakes & Lattes, Inc. Roger oversees the Public structure of the company, strategic initiatives, corporate financing and day to day operations of Interloc-Kings.

Ben Castanie:

• Vice Chairman / Interim CEO of Snakes & Lattes: Define objectives, negotiate deals, raise location money, Private investor relations, Cash Flow management throughout the organization, budgets.

Larry Leverton:

• Larry has been VP and Secretary of the company since 1985. He also deals with all matters transfer agent related and record keeping of such.

Muhammad Chakera:

• CPA: Muhammad oversees a team of 4 bookeepers / accountants, implements procedures and internal verifcation, preparing and filing taxes, payroll. preparing financial statements. He oversees the venue level fiscal controls, working with all softwares in liaison with POS and Accounting systems.

Anais Guilbert:

• Managing all marketing and communication initiatives for Snakes & Lattes locations, oversees a part time staff of 3.

Sava Miljanovic:

• Oversees Kitchen and Wait staff throughout all venues. Hiring, Training, Retention, Best Practices, Cost Controls and SOPs.

Susan Lawyer:

• In charge of the network of US locations. Tactical execution for operations. Defining priorities, developing a knowledge base and facilitation of location interaction and idea sharing.

Sebastien Daouze:

• In charge of the network of Canadian locations. Tactical execution for operations. Defining priorities, developing a knowledge base and facilitation of location interaction and idea sharing.

Bradley Syvier:

• Handles HR: Payroll hiring, staffing / employee processes, interviews, Co General Manager of the College location. Consults for other locations.

Alongside the need & question for audited financials also the plan for uplisting to OTCQB?

• Uplisting to QB following a current 2 year audit has always been an objective. As explained several times, the current priority is to expand our footprint in the USA, bring each location to profitability, audit, secure larger financing with banks, uplist and franchise. This mission will not change.

After the failed expansion with the CA location what is next?

• We currently have a signed loan agreement for specific locations to be funded. Currently two locations are undergoing due diligence. Profitability is still a necessity, and is a continued process until the goal is achieved.

Has there been a process started to establish a more independent BOD for SnL?

• This requires the company to be further established, and will take multiple steps. In general this is a natural progression as the company grows. However, similar to large bank financing, we need to hit certain requirements prior to engaging in new seats at the board level. Seats generally come with larger investors, which goes back to meeting requirements to achieve larger investors. We are continuously speaking with prospective people for consideration for other aspects of board members, strategic advisors and network connections, etc. Timing remains to be seen, but is planned as necessary with long term growth.

If anyone has follow up questions or wishes to inquire about any other topic in general, please send it to [e-mail].

Again, we thank everyone for their support, and appreciate taking the time to provide questions concerning all things Snakes & Lattes.

See you at Snakes & Lattes!

About Snakes & Lattes Inc.

Snakes & Lattes Inc. currently operates 8 tabletop gaming bars and cafes: 3 located in Toronto, Ontario, Canada, 1 in Guelph, Ontario, Canada, 1 in Tempe, Arizona, 1 in Tucson, Arizona, 1 in Provo, Utah, & 1 in Chicago, Illinois. The company is in the process of expanding throughout North America. Snakes & Lattes Inc. was the first board game bar and cafe in North America, and is believed to be the largest in the world. Our board game cafes have the largest circulating public library of board games in North America for customers to choose from.

For more information on Snakes & Lattes Inc., please visit the website at www.snakesandlattes.com.

New twitter channel coming soon!

Safe Harbor Statement

This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results, new features or services, or management strategies) and other factors discussed from time to time in the Company's OTC Market or Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should,", "will", "expect," "anticipate," "believe," "estimate," "confident," "intend," "plan" and other similar expressions. Our actual results, such as the Company's ability to finance, complete and consolidate acquisition of IP, assets and operating companies, could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the company such as a result of various factors, including future economic, competitive, regulatory, and market conditions. The company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Contact:

Ben Castanie

Snakes & Lattes Inc.

Telephone: [phone]

Email: [e-mail]