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CST: 27/05/2019 04:07:59   

AmeraMex International Reports a 16 Percent Increase in Revenue and a 24 Percent in Gross Profit for the Year Ended December 31, 2018

69 Days ago

CHICO, Calif., March 18, 2019 (GLOBE NEWSWIRE) -- AmeraMex International, Inc. (OTC:AMMX), a provider of heavy equipment for logistics companies, infrastructure construction, forestryconservation and tactical military vehicles, reports results for its financial year ended December 31, 2018.

Highlights for the Year Ended December 31, 2018:

Revenue
The Company reported revenue of approximately $10.1 million compared to revenue of approximately $8.7 million for the year ended December 31, 2017. This is a 16 percent increase

Gross Profit
The Company reported gross profit of $5.1 million compared to gross profit of $4.1 million for the year ended December 31, 2017. This is a 24 percent increase.   Gross profit as a percentage of sales rose to 50 percent.

Net Income
The Company reported net income for the year of approximately $1.4 million compared to net loss of $.843 million for the year ended December 31, 2017.  This is a 67 percent increase.

Balance Sheet                                                                                                  
Total assets were reduced by approximately $.806 million due in part to decreased cash and cash equivalents, inventory and accounts receivable. Total liabilities for the year decreased $2 million due in part to a reduction in deferred revenue and accounts payable.

Shareholder Conference Call
AmeraMex International is hosting a shareholder conference call March 18 at 8:00 a.m. Pacific Time.  The conference call dial-in number for both U.S. and international callers is 1.201.689.8560. Please dial in to the conference center five minutes before the call begins and ask the operator for the AmeraMex conference call.

Financials follow

About AmeraMex International

AmeraMex International sells, leases and rents heavy equipment to companies within multiple industries including construction, logistics, mining, and lumber.  The company also represents an inclusive product line of advanced performance tactical military vehicles from Oshkosh Defense, LLC. AmeraMex, with a US and international customer base, has over 30 years of experience in heavy equipment sales and service.  Follow AmeraMex on Twitter @ammx_intl and visit the AmeraMex website, www.AMMX.net or www.hamreequipment.com for additional information and equipment videos. 

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

AMERAMEX INTERNATIONAL, INC.
UNAUDITED CONDENSED STATEMENT OF OPERATIONS
For the 12 months ended December 31, 2018 & 2017
 
        twelve month   twelve month
        period ending   period ending
        December 31, 2018   December 31, 2017
             
Sales   $ 10,062,500   $ 8,709,534  
Cost of Goods Sold   (4,931,036 )   (4,562,414 )
    Gross Profit   5,131,464     4,147,120  
             
Operating Expenses:        
  Selling Expenses   80,877     66,347  
  General & Administrative   2,902,696     2,694,846  
    Total Operating Expenses   2,983,573     2,761,193  
             
Income from Operations   2,147,891     1,385,927  
             
Other Income (Expenses)        
  Interest Expense   (737,499 )   (542,638 )
  Other Expense   -     -  
    Total Other Income (Expense)   (737,499 )   (542,638 )
             
Income Before Provision for Income Taxes 1,410,392     843,289  
             
Provision for Income Taxes   (1,100 )   (1,100 )
             
Net Income $ 1,409,292.00   $ 842,189.00  
             
Weighted Average Shares Outstanding:        
  Basic   754,015,879     689,028,242  
  Diluted   754,015,879     689,028,242  
             
Earnings (loss) per Share        
  Basic $ 0.00   $ 0.00  
  Diluted $ 0.00   $ 0.00  


AMERAMEX INTERNATIONAL, INC.
UNAUDITED CONDENSED BALANCE SHEET
Forth Quarter 2018 & 2017
 
                     
            December 31, 2018     December 31, 2017  
ASSETS                  
  Current Assets:                
  Cash     $   197,752     $   553,625    
  Accounts Receivable         734,020         449,165    
  Inventory         2,593,433         3,336,203    
  Other Current Assets         25,909         17,799    
    Total Current Assets         3,551,114         4,356,792    
                     
  Furniture & Equipment, net         5,529,918         5,100,496    
  Other Assets         467,543         439,848    
                     
  TOTAL ASSETS     $   9,548,575     $   9,897,136    
                     
LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)            
  Current Liabilities:                
  Accounts Payable     $   1,099,175     $   2,314,237    
  Accrued Expenses         48,380         71,890    
  Deferred Revenue         2,218,266         3,149,212    
  Income Taxes Payable         92,546         92,546    
  Line of Credit         457,951         488,000    
  Notes Payable, Current Portion         903,886         826,823    
  Notes Payable, Related Party         353,643         378,806    
    Total Current Liabilities         5,173,847         7,321,514    
                     
  Notes Payable, net of Current Portion       1,797,525         1,632,746    
                     
  TOTAL LIABILITIES         6,971,372         8,954,260    
                     
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 )       (5,438 )  
  Accumulated Deficit         (18,957,300 )       (20,591,627 )  
    Total Stockholders' Equity (Deficit)       2,577,203         942,876    
                     
  TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT) $   9,548,575     $   9,897,136    
                     


AMERAMEX INTERNATIONAL, INC.
UNAUDITED STATEMENT OF CASH FLOW
For the Twelve months ended December 31, 2018
 
                 
OPERATING ACTIVITIES:            
          December 31, 2018      
  Net Income       1,409,293        
    Adjustments to reconcile net income to        
    net cash provided by operating activities:        
    Depreciation       744,451        
    Stock-based Compensation            
    Loss on Settlement of Debt for Common Stock        
  Change in current assets and liabilities:          
    Accounts Receivable       (284,855 )      
    Inventory       730,331        
    Other Assets       (953,966 )      
    Accounts Payable & Accrued Expenses   (1,210,342 )      
    Income Tax Payable       (38,478 )      
  Net Cash Provided by Operating Activities   396,434        
                 
INVESTING ACTIVITIES:            
    Payment for Furniture & Equipment     (1,173,873 )      
  Net Cash used in Investing Activities       (1,173,873 )      
                 
FINANCING ACTIVITIES:            
    Repayment of Note Payable       500,967        
    Proceeds from Note Payable - Related Party   (49,007 )      
    Net Proceeds (borrowing) under line of credit   (30,049 )      
    Purchase of Treasury Stock       -        
  Net Cash used in Financing Activities       421,911        
                 
NET DECREASE IN CASH       (355,528 )      
                 
CASH, BEGINNING BALANCE       553,267        
                 
CASH, ENDING BALANCE       197,739        
                 
CASH PAID FOR:            
    Interest       737,499        
    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
Marty@McCloudCommunications.com

 

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