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CST: 12/12/2019 05:41:30   

AmeraMex International Reports Second Quarter Revenue of $5.5 Million and Revenue of $7.9 Million Six-Month Period

118 Days ago

Revenue increases 79 percent for quarter and 54 percent of six-month period

CHICO, Calif., Aug. 15, 2019 (GLOBE NEWSWIRE) -- AmeraMex International, Inc. (OTCQB:AMMX), a provider of heavy equipment for logistics companies, infrastructure construction, and forestryconservation, reports revenue of $5.5 million for its second quarter and $7.9 million for the six-month period ending June 30, 2019.

Highlights

  • On July 5, 2019, the Company’s Form 10/registration became effective.
  • AmeraMex’s application to the OTCQB was approved and the Company’s common stock (AMMX) is now listed on the OTCQB Venture Market.
  • The Company’s board of directors was expanded through the addition of two new board members.
  • The Company received approval for a $6.5 million line of credit.
  • $5 million in sales were booked during six-month period ended June 30, 2019
  • $1 million of used container handlers were purchased for refurbishment and resale.

Second Quarter Ended June 30, 2019

The company reported revenue of $5,473,041 compared to revenue of $3,061,750 for the second quarter of 2018. This represents a 79 percent increase when compared to the second quarter of 2018. 

Gross profit, as a percentage of revenue, was 11 percent compared to 27 percent for the comparable 2018 quarter.  Gross profit was reduced due to increased sales of new equipment.

Net income for the quarter was $24,032 compared to net income of $250,586 for the second quarter of 2018 due in part to operating expenses increasing approximately $176,000 over the comparable quarter.

Six-Month Period Ended June 30, 2019

Revenue for the six-month period was $7,916,933 compared to revenue of $5,131,931 reported for the comparable six-month period of 2018.

Gross profit, as a percentage of revenue, was 15 percent compared to 31 percent for the comparable 2018 period.  Gross profit varies due to product mix and weather the equipment was new or refurbished.

Due to a one-time-charge of $566,838 for early extinguishment of debt, the company reported net loss of ($258,586) compared to net income of $467,445 for the six-month period in 2018.  Without this one-time charge, which will benefit the bottom line going forward, net income would have been $149,302.

AmeraMex’s CEO Lee Hamre was interviewed on August 14, 2019 by the Publicly Traded Podcast Network. To listen to the ten-minute interview, click on one of the links listed below:

http://www.youtube.com/watch?v=baAwvpIfK9o or https://www.publiclytradedpodcastnetwork.com/podcasts

As a reminder, the public is invited to participate in 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 13693564.

About AmeraMex International
AmeraMex International sells, leases and rents heavy equipment to companies within multiple industries including construction, logistics, mining, and lumber.   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.

Forward-Looking Statements
This press release contains forward-looking statements. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Investors are encouraged to review the Company’s filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company’s control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

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

Tables follow:

AMERAMEX INTERNATIONAL, INC.    
UNAUDITED STATEMENT OF OPERATIONS    
FOR THE THREE AND SIX MONTHS AS OF JUNE 30, 2019 AND 2018    
           
      Three Months     Three Months     Six Months     Six Months    
      Period Ending     Period Ending     Period Ending     Period Ending    
      JUNE 30, 2019     JUNE 30, 2018     JUNE 30, 2019     JUNE 30, 2018    
REVENUES                          
Sales of Equipment and Other Revenues $   4,901,300   $   2,465,732   $   6,671,353   $   3,768,734    
Rentals and Leases     571,741       596,018       1,245,580       1,363,197    
Total Revenues       5,473,041       3,061,750       7,916,933       5,131,931    
                             
COST OF SALES                          
Sales of Equipment and Other Revenues   4,632,000       1,997,243       6,197,536       3,062,848    
Rentals and Leases     235,537       222,767       471,723       454,751    
Total Cost of Revenues     4,867,537       2,220,010       6,669,259       3,517,599    
                             
GROSS PROFIT     605,504       841,740       1,247,674       1,614,332    
                             
OPERATING EXPENSES                          
Selling Expense     106,726       80,371       187,959       157,118    
General and Administrative     292,751       144,259       497,368       373,654    
Total Operating Expenses       399,477       224,630       685,327       530,772    
                             
Profit (loss) From Operations   206,027       617,110       562,347       1,083,560    
                             
OTHER INCOME (EXPENSE)                        
Interest Expense     (172,559 )     (261,669 )     (351,804 )     (420,517 )  
Loss from Early Extinguishment of Debt   -       -       (566,838 )     -    
Other Income     716       -       1,233       -    
Total Other Income (Expense)       (171,843 )     (261,669 )     (917,409 )     (420,517 )  
                             
INCOME BEFORE PROVISION (BENEFIT) for INCOME TAXES   34,184       355,441       (355,062 )     663,043    
                             
PROVISION (BENEFIT) for INCOME TAXES   (10,152 )     (104,855 )     96,476       (195,598 )  
                             
NET INCOME (LOSS) $   24,032    $    250,586    $    (258,586)    $    467,445    
                             
Weighted Average Shares Outstanding:                      
Basic       753,415,879       753,415,879       753,415,879       753,415,879    
Diluted       753,415,879       753,415,879       753,415,879       753,415,879    
                             
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 BALANCE SHEETS
AS OF JUNE 30, 2019 AND DECEMBER 31,2018
   
                 
      JUNE 30, 2019     DECEMBER 31, 2018    
ASSETS                
Current Assets:                
Cash   $   175,588   $   197,752    
Accounts Receivable, Net       309,690       631,805    
Inventory       3,652,888       2,689,642    
Other Current Assets       245,673       289,060    
Total Current Assets       4,383,839       3,808,259    
                 
Property and Equipment, Net       989,435       988,552    
Rental Equipment, Net       4,287,671       4,679,122    
Other Assets       472,832       234,074    
Total Noncurrent Assets       5,749,938       5,901,748    
                 
TOTAL ASSETS   $   10,133,777   $   9,710,007    
                 
LIABILITIES & STOCKHOLDERS' EQUITY               
Current Liabilities:                
Accounts Payable   $   974,590   $   1,309,032    
Accrued Expenses       84,155       118,291    
Notes Payable, Current Portion       50,000       296,618    
Total Current Liabilities       1,108,745       1,723,941    
                 
Long-Term Liabilities                
Deferred Tax Liability       226,566       301,680    
Notes Payable - Related Party       352,542       353,643    
Notes Payable, Net of Current Portion       132,880       4,316,233    
Line of Credit       6,331,576       774,456    
Total Noncurrent Liabilities       7,043,564       5,746,012    
                 
TOTAL LIABILITIES       8,152,309       7,469,953    
                 
Commitments and Contingencies                
                 
STOCKHOLDERS' EQUITY:                
Stockholders' Equity                
Preferred Stock, $0.001 par value, 5,000,000 shares authorized, no              
shares issued and outstanding     -     -    
Common Stock, $0.001 par value, 1,000,000,000 shares authorized              
753,415,879 shares issued and outstanding at June 30, 2019 and               
December 31,2018       753,416       753,416    
Additional Paid-In Capital       20,781,087       20,785,924    
Treasury Stock       -       (4,837 )  
Accumulated Deficit       (19,553,035 )     (19,294,449 )  
Total Stockholders' Equity       1,981,468       2,240,054    
                 
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY $   10,133,777   $   9,710,007    
                 
        -       -    
                 


 


                 
  AMERAMEX INTERNATIONAL, INC.
  UNAUDITED STATEMENT OF CASH FLOW
  FOR THE SIX MONTHS AS OF JUNE 30, 2019 AND 2018
 
        JUNE 30, 2019     JUNE 30, 2018    
CASH FROM OPERATING ACTIVITIES              
Net Income (Loss)     $   (258,586 ) $   467,445    
Adjustments to reconcile Net Income (Loss) to                
Net Cash provided by (Used In) Operating Activities:                
Depreciation and Amortization         580,044       526,817    
Provision for Deferred Income Taxes         (75,114 )     -    
Changes in Operating Assets and Liabilities:                
Accounts Receivable         322,115       74,912    
Inventory         (963,246 )     1,157,405    
Other Current Assets         (195,673 )     (1,151 )  
Accounts Payable         (334,443 )     (1,427,238 )  
Accrued Expenses         (34,136 )     21,187    
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES   (959,039 )     819,377    
                   
INVESTING ACTIVITIES:                
Payments for Property & Equipment         (90,801 )     (319,055 )  
Payments for Rental Equipment         (98,371 )     (528,022 )  
NET CASH PROVIDED BY INVESTING ACTIVITIES     (189,172 )     (847,077 )  
                   
FINANCING ACTIVITIES:                
Proceeds from Notes Payable         126,000       1,612,723    
Payments on Notes Payable         (4,447,081 )     (2,346,410 )  
Payment on Note Payable - Related Party         (1,101 )     (21,750 )  
Net Proceeds Borrowing Under Line of Credit         6,015,067       321,137    
Loss on Early Extinguishment of Debt         (566,838 )     -    
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES   1,126,047       (434,300 )  
                   
NET DECREASE IN CASH & CASH EQUIVALENTS     (22,164 )     (462,000 )  
                   
Cash, beginning of period       197,752       553,625    
Cash, end of period   $   175,588   $   91,625    
                   
SUPPLEMENTAL DISCLOSURES OF CASH FLOW              
INFORMATION:                
Cash Paid for Interest     $   351,804   $   420,517    
Cash Paid for Income Taxes     $   96,476   $   195,598    
                   
SUPPLEMENTAL DISCLOSURES OF NON CASH INVESTING            
AND FINANCING ACTIVITIES:              
Transfer of Inventory to Rental Equipment     $   -   $   -    
Transfer of Rental Equipment to Inventory     $   -   $   -    
                   
                   


 

                             
AMERAMEX INTERNATIONAL, INC.  
UNAUDITED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT)  
FOR THE SIX MONTHS AS OF JUNE 30, 2019 AND 2018  
                           Total   
               Additional             Stockholders'   
       Common Stock     Paid-in     Treasury     Accumulated     Equity/   
 Balance     Shares     Amount     Capital     Stock     Deficit     (Deficit)   
                             
Dec. 31, 2017     753,415,879   $   754,017   $   20,785,924   $   (5,438)   $   (20,180,044)   $   1,354,459  
                             
 Net Income                      216,859     216,859  
                             
March 31, 2018     753,415,879     754,017     20,785,924     (5,438)     (19,963,185)     1,571,318  
                             
 Net Income                      250,586     250,586  
                             
June 30, 2018     753,415,879     754,017     20,785,924     (5,438)     (19,712,599)     1,821,904  
                             
Dec. 31, 2018     753,415,879     753,416     20,785,924     (4,837)     (19,294,449)     2,240,054  
                             
 Net Income                      (282,618)     (282,618)  
                             
March 31, 2019     753,415,879     753,416     20,785,924     (4,837)     (19,577,067)     1,957,436  
                             
 Net Income              (4,837)     4,837     24,032     24,032  
                             
June 30, 2019     753,415,879   $   753,416   $   20,781,087    $  -   $   (19,553,035)   $   1,981,468  
                             
        753,415,879     753,416     20,781,087     -     (19,553,035)     1,981,468  
        -     -     -     -     -     -  
                             
                             

 


 

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