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Snakes & Lattes (OTCMKTS: FUNN) Offers Updates to Shareholders About Name Change, Expansion Plans, And Leadership Changes



Snakes & Lattes (OTCMKTS: FUNN) has offered a quarterly update to shareholders and a roadmap on where the company is headed in 2022. 

Snakes & Lattes changed its name 

The company has legally changed its name to Snakes & Lattes Inc., and currently, it is submitting documentation to FINRA, which will be the final step in unifying the company under one name. But, most importantly, the company is proud of what it has developed, and it is exciting to keep growing the brand, expanding into new regions, and generating new revenue streams.

The company’s expansion slowed following the pandemic, but Snakes & Lattes managed to open three new restaurants in the past two years. Most importantly, the company has re-established with John Fox to look for more stability in 2022. Fox will be in charge of North America expansion in scouting new acquisitions and locations and connecting with investors. Interestingly, Fox was resourceful in bringing the Arizona locations into the fold. Although the pandemic halted most expansion plans, the company is optimistic that the pandemic is almost over and the expansion process will commence again. In addition, the company expects to bring a new concept to California through a partnership with players in the video game and hospitality sector. 

The company has qualified for multiple subsidies, including rent support at each location and wage incentives for select employees, as a result of the recent remedial measures taken in Ontario. As a result, its Canadian stores will generally remain open, with shops, coffee, and takeout food accessible.

Snakes & Lattes fills various executive positions

Also, the company now has operations, corporate finance, investor relations, and CEO positions filled, thanks to the arrival of a new Director of Marketing. The majority of Snakes & Lattes’ commercial tea is produced in Canada. By alternating between direct operations and corporate director roles, the executives have managed to both direct long-term strategic plans and cut controllable costs. Although the company still outsources most of its functions, it will continue evaluating where additional headcount may be necessary and remaining lean.

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