Market Overview

AmeraMex International Reports Second Quarter Revenue of $3.0 Million and Revenue of $4.7 Million Six-Month Period

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CHICO, Calif., Aug. 15, 2018 (GLOBE NEWSWIRE) -- AmeraMex International, Inc. (OTC:AMMX), a provider of heavy equipment for logistics companies, infrastructure construction, forestry conservation and tactical military vehicles, reports revenue for its second quarter and six-month period ending June 30, 2018.

Highlights for the Six-month Period

  • The audits for 2016 and 2017 are substantially complete. The auditors are waiting for the amended 2015 and 2016 tax returns from the Company's tax accountant. 
  • AmeraMex appointed Hope Stone to the full-time position of CFO and Susan Anderson, a fifteen-year employee, to the position of COO.
  • The Company demonstrated the power and capabilities of the Menzi Muck Walking Excavator and ASV Track Loader to over a hundred observers and decision makers from PG&E and the US Forest Service along with two California Senators.
  • Sales management has responded to eight Requests For Quotes (RFQs) to organizations attending the Menzi Muck and ASV Track Loader demonstrations.
  • The Company has reported year-to-date sales of $9.4 million.

Second Quarter Ended June 30, 2018
The company reported revenue of $2,988,980 compared to revenue of $1,369,440  for the second quarter of 2017. This represents a 118 percent increase when compared to the second quarter of 2017. 

Net income for the quarter was $175,209 compared to net loss of $(7,540) for the second quarter of 2017.  Gross profit, as a percentage of sales, was 38 percent compared to 49 percent for the comparable 2017 period. 

Six-Month Period Ended June 30, 2017
Revenue for the six-month period was $4,722,710 compared to revenue of $3,244,246 reported for the comparable six-month period of 2017. Gross profit margin, as a percentage of sales, was 50 percent. The company reported net income of $394, 442 compared to net income of $250, 266 for the six-month period in 2017.

The Company's Second Quarter Financial call scheduled today 11:00 a.m. Pacific Time, 2:00 p.m. Eastern Time.  The conference call dial-in number for both U.S. and international callers is 1.201.689.8560. An audio replay of the call will be available from August 15, 2018 at 5:00 p.m. Eastern Time until  August 29, 2018 at 11:59 p.m. Eastern Time.  The replay is accessible by dialing 1.412.317.6671 and entering pin number 13682419. 

About AmeraMex
AmeraMex International sells, leases and rents top-of-line heavy equipment to companies within multiple industries including construction (light and infrastructure), logistics, mining, and sawmill.  The company has added an inclusive product line from Oshkosh Defense, LLC, of advanced performance tactical military vehicles marketed to certain African countries.  AmeraMex, with a US and international customer base, has over 30 years of experience in heavy equipment sales and service. For more information and equipment videos, visit the AmeraMex website, www.AMMX.net or www.hamreequipment.com.

Safe Harbor Statement
Except for the historical information contained herein, statements discussing sales or revenue projections are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements involve risks and uncertainties that could cause actual results to differ materially from any forward-looking statements made herein.

Tables follow:

 

 
AMERAMEX INTERNATIONAL, INC.
UNAUDITED CONDENSED STATEMENT OF OPERATIONS
For the 6 months ended June 30, 2018 & 2017
 
    three month   three month   six month   six month
    period ending   period ending   period ending   period ending
    June 30, 2018   June 30, 2017   June 30, 2018   June 30, 2017
                 
Sales $   2,988,980 $   1,369,440 $   4,722,710 $   3,244,246
Cost of Goods Sold     (1,865,487)     (701,573)     (2,364,051)     (1,707,568)
Gross Profit     1,123,493     667,867     2,358,659     1,536,678
                 
Operating Expenses:                
Selling Expenses     27,440     16,555     42,177     29,134
General & Administrative     827,541     545,408     1,763,491     1,018,426
Total Operating Expenses     854,981     561,963     1,805,668     1,047,560
                 
Income from Operations     268,512     105,904     552,991     489,118
                 
Other Income (Expenses)                
Interest Expense     (93,303)     (113,444)     (158,549)     (238,852)
Other Expense             -     -
Total Other Income (Expense)     (93,303)     (113,444)     (158,549)     (238,852)
                 
Income Before Provision for Income Taxes     175,209     (7,540)     394,442     250,266
                 
Provision for Income Taxes     -     -     -     -
                 
Net Income $   175,209.00 $   (7,540.00) $   394,442.00  $    250,266.00
                 
Weighted Average Shares Outstanding:                
Basic     754,015,879     689,028,242     754,015,879     689,028,242
Diluted     754,015,879     689,028,242     754,015,879     689,028,242
                 
Earnings (loss) per Share                
Basic $ 0.00 $ 0.00 $ 0.00 $ 0.00
Diluted $ 0.00 $ 0.00 $ 0.00 $ 0.00
                 

  

 
AMERAMEX INTERNATIONAL, INC.
UNAUDITED CONDENSED BALANCE SHEET
Second Quarter 2018 & 2017
 
    June 30, 2018     June 30, 2017
ASSETS          
Current Assets:          
Cash $   102,049   $   18,454
Accounts Receivable     512,464       624,619
Inventory     1,707,617       1,959,190
Other Current Assets     20,799       14,799
Total Current Assets     2,342,929       2,617,062
           
Furniture & Equipment, net     5,850,545       4,190,188
Other Assets     303,405       297,028
           
TOTAL ASSETS $   8,496,879   $   7,104,278
           
LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)          
Current Liabilities:          
Accounts Payable $   919,742   $   1,453,698
Accrued Expenses     (22,085)       8,290
Deferred Revenue     3,149,212       3,585,998
Income Taxes Payable     106,760       106,760
Line of Credit      491,500       488,911
Notes Payable, Current Portion     1,114,843       392,827
Notes Payable, Related Party     359,210       417,065
Total Current Liabilities     6,119,182       6,453,549
           
Notes Payable, net of Current Portion     1,398,849       1,192,164
           
TOTAL LIABILITIES     7,518,031       7,645,713
           
STOCKHOLDERS' EQUITY (DEFICIT):          
Common Stock, $0.0001 par value, 100,000,000 shares authorized,      
754,016,879 & 664,890,879 shares issued and outstanding     754,017       754,017
Additional Paid-In Capital     20,785,924       20,785,924
Treasury Stock     (5,438)       (10,438)
Accumulated Deficit     (20,555,655)       (22,070,938)
Total Stockholders' Equity (Deficit)     978,848       (541,435)
           
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT) $   8,496,879   $   7,104,278
           

 

 

 
AMERAMEX INTERNATIONAL, INC.
UNAUDITED STATEMENT OF CASH FLOW
For the Six months ended June 30, 2018
 
OPERATING ACTIVITIES:  
  June 30, 2018
Net Income   394,441
Adjustments to reconcile net income to  
net cash provided by operating activities:  
Depreciation   441,741
Stock-based Compensation  
Loss on Settlement of Debt for Common Stock  
Change in current assets and liabilities:  
Accounts Receivable   1,937,996
Inventory   1,938,130
Other Assets   (1,834,982)
Accounts Payable   (1,464,420)
Accrued Expenses   -
Income Tax Payable   -
Net Cash Provided by Operating Activities   1,412,906
   
INVESTING ACTIVITIES:  
Payment for Furniture & Equipment   (1,926,170)
Net Cash used in Investing Activities   (1,926,170)
   
FINANCING ACTIVITIES:  
Repayment of Note Payable   61,688
Proceeds from Note Payable - Related Party   -
Net Proceeds (borrowing) under line of credit   -
Purchase of Treasury Stock   -
Net Cash used in Financing Activities   61,688
   
NET DECREASE IN CASH   (451,576)
   
CASH, BEGINNING BALANCE   553,625
   
CASH, ENDING BALANCE   102,049
   
CASH PAID FOR:  
Interest   158,549
Income Taxes   -
   
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:  
Common stock issued for the settlement  
of accounts payable   -
Common stock issued for the settlement   
of notes payable - related party -
   

 

Investor and Media Relations
McCloud Communications, LLC
Marty Tullio, Managing Member
Office: 949.632.1900 or Marty@McCloudCommunications.com

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