Amfil Technologies Inc (OTCMKTS:AMFE) is an interesting one.The company spent the majority of last year ranging in the low to mid double zeros, and closed out 2016 just ahead of $0.008 a share. Over the last six weeks, however, Amfil hasn't run up to the tune of 160%, and broken free from the double zeros to trade at current prices of around $0.02 a share. That's still a very low PPS, but as far as we see it, the company is out of the swamp, and could start to attract attention from a much wider pool of potential traders and investors near term. Couple this with the fact that a number of upside catalysts are set to hit press throughout 2017, and we have the potential for an explosive breakout stock on our hands.Sure, it is a risky one, but the reward to justify this risk might just be there.For those not familiar with the company, it is an umbrella entity set up to purchase and actively operate various small to medium-sized companies. The idea is that Amfil takes a position in said small to medium sized companies, offering them access to public market capital, while concurrently offering public markets an exposure to the growth of companies that would otherwise be out of reach.Right now, Amfil has three brands on its roster, two of which are actively generating revenues and a third that should start to generate a positive bottom line early this year. The three companies currently under Amfil's umbrella are Interloc-Kings Inc, an established hardscape construction and winter services provider to the Greater Toronto area; GroZone, a company that creates systems that are a triple function sanitization unit capable of naturally eliminating 99.9% of gaseous and aqueous pathogens developed for the Medical Marijuana Industry; and Snakes & Lagers and Snakes & Lattes, which are the operators of board game themed bars and cafes in downtown Toronto, Ontario.On January 25, 2017, the company put out some numbers based on these three entities, reporting second-quarter 2017 revenues of $1.54 million with gross profits of $956,000. These numbers were more than 4500% on the comparable quarters during 2016, for which revenues hit just $33,000 and gross profit came in at $3,300. The root of this growth was the Snakes and Lagers acquisition, and we see this as being a primary growth driver for the company near term. That aside, however, what catalysts are we looking at as events to watch throughout 2017?As mentioned, there are plenty.One is the market's absorption of the reduction in outstanding share count, which saw the company reduce its outstanding base by over 40%. The announcement and closing of this hit press last week, and likely served to compound the overarching upside momentum in the stock.Looking at things from an operational perspective, our first major catalyst is the kickoff of a sales initiative related to the GroZone asset. Amfil is in discussions to create a customized system that would be sold as an add-on to the existing systems that an as yet unnamed, but future collaborating company creates and sells. The company hopes to announce the closing of this deal in January 2017, and when it does, we should get some immediate upside momentum in the stock.Beyond that, we're looking at the execution on a franchising rollout related to the Snakes and Lagers asset. According to management, the company has been contacted by various potential candidates from all across North America looking to get into the business and wanting to purchase a franchise. Any progress on this front should induce some immediate upside for the company, and open up fresh revenue streams to reinforce this upside potential going forward into the latter half of 2017.There are also plans to franchise the construction asset, but as yet, details on the execution of this strategy remain slim.That the company is behind on its filings is the primary risk here, as cash on hand is unclear. As such, we have to account for the fact that an equity raise may hit press near-term, and with it, dilution of the current shareholder base. With the number of catalysts set to roll out, however, and even against a backdrop of potential dilution, chances are any downside induced by a raise announcement will quickly reverse.We will be updating our subscribers as soon as we know more. For the latest updates on AMFE, sign up below!Disclosure: We have no position in AMFE and have not been compensated for this article.