Shareholder Conference Call Friday, November 9 at 8:00 a.m. PT
CHICO, Calif., Nov. 09, 2018 (GLOBE NEWSWIRE) — AmeraMex International, Inc. (OTC:AMMX), a provider of heavy equipment for logistics companies, infrastructure construction, forestry conservation and tactical military vehicles, reported financial results for its third quarter and nine-month period ended September 30, 2018.
Third Quarter Ended September 30, 2018
The company reported revenue of approximately $3.6 million, a 96 percent increase when compared to revenue of approximately $1.8 million for the third quarter of 2017.
Gross profit for the quarter was $1.9 million, or a gross profit margin of 50 percent, compared to gross profit of $.743 million, or a gross profit margin of 40 percent, for the third quarter of 2017.
The company reported net income for the quarter of $.987 million, an 85 percent increase when compared to a net income of $.535 million for the comparable 2017 quarter.
Nine-Month Period Ended September 30, 2018
Revenue for the nine-month period increased 66 percent to approximately $8.4 million when compared to revenue of $5.1 million for the 2017 nine-month period.
Gross profit for the nine-month period was $4.1 million, or a gross profit margin of 49 percent, compared to gross profit of $2.2 million, or a gross profit margin of 44 percent for the 2017 nine-month period.
The company reported net income of approximately $1.5 million, an increase of 94 percent when compared to net income of approximately $.771 million for the 2017 period.
AmeraMex CEO Lee Hamre commented, “We are pleased that the two-year audit is complete and our outside legal team is working on the Form 10 Registration Statement. We are also pleased with the nine-month period results and have booked another $1.9 million since the end of the third quarter. We have a large backlog of potential orders and believe this will be a banner year for AmeraMex.”
The shareholder conference call, chaired by AmeraMex CEO Lee Hamre, is scheduled for Friday, November 9, 2018 at 8:00 a.m. Pacific Time, 11:00 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 November 9, 2018 at 5:00 p.m. Eastern Time until November 23, 2018 at 11:59 p.m. Eastern Time. The replay is accessible by dialing 1.412.317.6671 and entering pin number 13684542. An audio version of the conference call
will also be available on the Company’s website, www.ammx.net.
|AMERAMEX INTERNATIONAL, INC.|
|UNAUDITED CONDENSED STATEMENT OF OPERATIONS|
|For the 9 months ended September 30, 2018 & 2017|
|period ending||period ending||period ending||period ending|
|September 30, 2018||September 30, 2017||September 30, 2018||September 30, 2017|
|Cost of Goods Sold||(1,670,580||)||(1,094,278||)||(4,266,148||)||(2,822,947||)|
|General & Administrative||884,671||67,672||2,387,346||1,064,998|
|Total Operating Expenses||904,637||86,065||2,449,489||1,112,525|
|Income from Operations||1,031,298||657,097||1,695,230||1,131,176|
|Other Income (Expenses)|
|Total Other Income (Expense)||(43,090||)||(121,211||)||(199,308||)||(360,064||)|
|Income Before Provision for Income Taxes||988,208||535,886||1,495,922||771,112|
|Provision for Income Taxes||(1,100||)||(1,100||)||(1,100||)||(1,100||)|
|Weighted Average Shares Outstanding:|
|Earnings (loss) per Share|
|AMERAMEX INTERNATIONAL, INC.|
|UNAUDITED CONDENSED BALANCE SHEET|
|Third Quarter 2018 & 2017|
|September 30, 2018||September 30, 2017|
|Other Current Assets||20,799||14,799|
|Total Current Assets||4,290,100||2,865,259|
|Furniture & Equipment, net||5,855,867||4,149,440|
|LIABILITIES & STOCKHOLDERS’ EQUITY (DEFICIT)|
|Income Taxes Payable||92,546||(438,091||)|
|Line of Credit||491,500||89,411|
|Notes Payable, Current Portion||897,935||826,821|
|Notes Payable, Related Party||313,365||378,806|
|Total Current Liabilities||6,566,702||4,892,519|
|Notes Payable, net of Current Portion||1,795,869||1,653,642|
|STOCKHOLDERS’ EQUITY (DEFICIT):|
|Common Stock, $0.0001 par value, 100,000,000 shares authorized,|
|754,016,879 & 664,890,879 shares issued and outstanding||754,017||754,017|
|Additional Paid-In Capital||20,785,924||20,785,924|
|Total Stockholders’ Equity (Deficit)||2,164,208||924,083|
|TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY (DEFICIT)||$||10,526,779||$||7,470,244|
|AMERAMEX INTERNATIONAL, INC.|
|UNAUDITED STATEMENT OF CASH FLOW|
|For the Nine months ended September 30, 2018|
|September 30, 2018|
|Adjustments to reconcile net income to|
|Net cash provided by operating activities:|
|Loss on Settlement of Debt for Common Stock|
|Change in current assets and liabilities:|
|Accounts Payable & Accrued Expenses||(795,074||)|
|Income Tax Payable||–|
|Net Cash Provided by Operating Activities||437,237|
|Payment for Furniture & Equipment||(755,371||)|
|Net Cash used in Investing Activities||(755,371||)|
|Repayment of Note Payable||172,296|
|Proceeds from Note Payable – Related Party||15,603|
|Net Proceeds (borrowing) under line of credit||(3,000||)|
|Purchase of Treasury Stock||–|
|Net Cash used in Financing Activities||184,899|
|NET DECREASE IN CASH||(133,235||)|
|CASH, BEGINNING BALANCE||553,625|
|CASH, ENDING BALANCE||420,390|
|CASH PAID FOR:|
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 the SEC audit, 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.
Investor and Media Relations
McCloud Communications, LLC
Marty Tullio, Managing Member
Office: 949.632.1900 or Marty@McCloudCommunications.com