AmeraMex International Reports Revenue of $2.6 Million For the First Quarter Ended March 31, 2019

AmeraMex announces that it has submitted its Registration Statement and Form 10 to the SEC


CHICO, Calif., May 13, 2019 (GLOBE NEWSWIRE) -- AmeraMex International, Inc. (OTC:AMMX), a provider of heavy equipment for logistics companies (stevedoring/shipping), infrastructure construction, forestry conservation and tactical military vehicles, today reported financial results for its first quarter ended March 31, 2019.  Additionally, the Company reported that it has filed its Registration Statement and Form 10 to the SEC.

AmeraMex CEO Lee Hamre commented, “On behalf of myself, our CFO Hope Stone and the entire management team, we are pleased to announce that the Registration Statement and Form 10 have been submitted to the SEC for review. The review process can last several months, but the Company and its service providers are committed to responding expeditiously. After the SEC comment process is completed, they will declare the Registration Statement “effective” and AmeraMex will be a “fully reporting company.”

Highlights for the First Quarter of 2019*

  • Revenue was approximately $2.6 million, a 44 percent increase when compared to revenue of $1.8 million for the 2018 period.
  • Gross profit was approximately $967,385 compared to gross profit of $414,975 for the period ended March 31, 2018. This is an increase of 133 percent.
  • Net income of $692,774 was a significant increase when compared to net income of $43,088 for the first quarter ended March 31, 2018. 
  • The audits for 2018 and 2017 are complete.
  • The Company secured a $6.6 million line-of-credit.

             
*The comparable 2018 financial statements may differ from the original published numbers due to adjustment made during the 2017/2018 audit.

Tables follow:

AMERAMEX INTERNATIONAL, INC.
UNAUDITED CONDENSED STATEMENT OF OPERATIONS
For the 3 months ended March 31, 2019 & 2018
 
 
 
 three month three month
 period ending period ending
 March 31, 2019 March 31, 2018
    
Sales  2,563,291 $  1,778,910 
Cost of Goods Sold  (1,595,906)   (1,363,935)
Gross Profit  967,385    414,975 
    
    
Operating Expenses:   
 Selling Expenses  118,001    115,253 
 General & Administrative  104,030    130,088 
 Total Operating Expenses  222,031    245,341 
    
Income from Operations  745,354    169,634 
    
    
Other Income (Expenses)   
 Interest Expense  (54,750)   (94,296)
 Other Income (Expense)  213    - 
 Total Other Income (Expense)  (54,537)   (94,296)
    
    
Income Before Provision for Income Taxes  690,817    75,338 
    
Provision for Income Taxes  1,958    (32,250)
    
    
Net Income  692,775.00 $  43,088.00 
    
Weighted Average Shares Outstanding:   
Basic  754,015,879    754,015,879 
Diluted  754,015,879    754,015,879 
    
Earnings (loss) per Share   
Basic0.00 $0.00 
Diluted0.00 $0.00 
    
 
AMERAMEX INTERNATIONAL, INC.
UNAUDITED CONDENSED BALANCE SHEET
First Quarter 2019 & 2018
 
 
 
 31-Mar-19 31-Mar-18
ASSETS   
 Current Assets   
 Cash  57,986 $  120,576 
 Accounts Receivable  732,957    404,853 
 Inventory  4,826,926    2,391,321 
 Other Current Assets  1,104,815    256,421 
 Total Current Assets  6,722,684    3,173,171 
    
    
 Property & Equipment, Net  942,349    772,704 
 Rental Equipment, Net  4,513,158    5,443,516 
 Other Assets  234,074    234,074 
 Total Other Assets  5,689,581    6,450,294 
    
TOTAL ASSETS  12,412,265 $  9,623,465 
    
    
LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)   
 Current Liabilities:   
 Accounts Payable  2,569,036 $  1,089,465 
 Accrued Expenses  105,985    93,097 
 Notes Payable, Current Portion  60,000    1,149,212 
 Total Current Liabilities  2,735,021    2,331,774 
    
    
 Long-Term Liabilities   
 Deferred Tax Liability  301,680    (3,682)
 Notes Payable - Related Party  348,984    392,968 
 Notes Payable, Net of Current Portion  72,880    4,952,718 
 Line of Credit   6,031,286    552,140 
 Total Long-Term Liabilities  6,754,830    5,894,144 
    
TOTAL LIABILITIES  9,489,851    8,225,918 
    
    
STOCKHOLDERS' EQUITY (DEFICIT):   
 Common Stock, $0.0001 par value,    
 100,000,000 shares authorized,   
 754,017 & 754,017    
 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  (18,612,087)   (20,136,956)
 Total Stockholders' Equity (Deficit)  2,922,416    1,397,547 
    
    
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)  12,412,267 $  9,623,465 
    
 Common Stock Issued and Out Standing: 754,015,879   
    
 
AMERAMEX INTERNATIONAL, INC.
UNAUDITED STATEMENT OF CASH FLOW
For the Three months ended March 31, 2019
    
    
    
OPERATING ACTIVITIES:   
   March 31, 2019
 Net Income    682,161 
 Adjustments to reconcile net income to   
 net cash provided by operating activities:   
 Depreciation    283,420 
 Stock-based Compensation   
 Loss on Settlement of Debt for Common Stock   
 Change in current assets and liabilities:   
 Accounts Receivable    (101,152)
 Inventory    (2,137,284)
 Other Assets    (827,252)
 Accounts Payable & Accrued Expenses    1,247,696 
 Income Tax Payable    - 
 Net Cash Provided by Operating Activities    (852,411)
    
INVESTING ACTIVITIES:   
 Payment for Furniture & Equipment    (2,217,455)
 Net Cash used in Investing Activities    (2,217,455)
    
FINANCING ACTIVITIES:   
 Repayment of Note Payable    (2,322,273)
 Proceeds from Note Payable - Related Party    (4,659)
 Net Proceeds (borrowing) under line of credit    5,256,831 
 Purchase of Treasury Stock    - 
 Net Cash used in Financing Activities    2,929,899 
    
NET DECREASE IN CASH    (139,967)
    
CASH, BEGINNING BALANCE    197,738 
    
CASH, ENDING BALANCE    57,771 
    
CASH PAID FOR:   
 Interest    54,750 
 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    - 
    


About AmeraMex
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.

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


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