-- During the first quarter of 2011, the company received orders in excess
of $1 million from international infrastructure construction and
logistics companies located in Africa, South and Central America, and
Canada.
-- Order pipeline is strong going into the second quarter of 2011.
-- African projects continue to grind through red tape with anticipated
closure in second quarter.
-- A highly respected auditing firm retained to perform two-year audit,
mandatory for fully reporting public company classification. The audit
is scheduled to commence mid-April and conclude in September.
AmeraMex President and CEO Lee Hamre commented, "2010 was a challenging
year domestically, so we took advantage of international opportunities.
International relationships and sales take longer to develop, but present
excellent ongoing order flow. Our international customers primarily order
refurbished equipment, which provides considerably better gross profit
margins than new equipment sold in the U.S."
Hamre continued, "Some of these opportunities, which currently involve the
company with a number of partners, are expected to directly and indirectly
boost the company's sales of heavy equipment and provide various
commissions and finders fees during 2011. We are off to a good start for
the year and expect revenue to increase on a quarterly basis."
For the year ended December 31, 2010, the company reported revenue of
approximately $3.4 million and a net loss of ($322,503), or a loss per
share of ($0.000), compared to revenue of $8.3 million and a net loss of
$501,451 for 2009. A significant amount of revenue reported in the first
quarter of 2009 was generated by orders received in 2008. As there is
generally a lead time on new equipment orders, a portion of the new
equipment on the 2008 order shipped to U.S. companies in 2009. AmeraMex
does not book revenue until equipment ships.
EBITDA for the year was ($67,634), a 46 percent improvement over that of
2009. EBITDA, earnings before interest, taxes, depreciation and
amortization, is an accepted industry tool to measure the fundamentals of
growth companies.
AmeraMex will host its second shareholder conference call in April to
discuss the highlights of 2010 and the milestones set for 2011. A news
release announcing the conference call date, time and dial-in information
will be publicly disseminated shortly.
AmeraMex International, Inc.
CONDENSED STATEMENT OF OPERATIONS
(UNAUDITED)
12 Months 12 Months
Ended Ended
December 31, December 31,
2010 2009
----------- -----------
REVENUE
Total Revenue $ 3,358,973 $ 8,348,467
COST OF SALES
Total Cost of Sales 1,473,682 6,505,936
GROSS MARGIN 1,885,291 1,842,531
OPERATING EXPENSE
SG&A 1,952,925 2,023,114
Depreciation 247,700 257,375
----------- -----------
Total Operating Expense $ 2,200,625 $ 2,280,489
OPERATING INCOME (LOSS) (315,334) (437,958)
OTHER INCOME AND EXPENSE
Interest 49,251 (119,827)
Tax Credit -
Income Tax Provision 2,021
Other (44,103) 56,334
----------- -----------
Total Other Income (Expense) (7,169) (63,493)
NET INCOME (LOSS) (322,504) (501,451)
=========== ===========
Basic Earnings (Loss) Per Share ($ 0.000) ($ 0.002)
=========== ===========
Weighted Average Shares Outstanding 379,251,000 272,000,000
=========== ===========
Diluted Earnings (Loss) Per Share ($ 0.000) ($ 0.002)
=========== ===========
AmeraMex International, Inc.
Unaudited Consolidated Balance Sheet
For the 12-Month Period
ended December 31, 2010
ASSETS
Current Assets
Cash 34,135
Accounts Receivable 233,699
Note Receivable 442,945
Inventory 650,611
Other Current Assets 62,984
-----------
Total Current Assets $ 1,424,374
Non Current Assets
Investments 137,445
Trucks & Trailers 1,513,902
Other Vehicles 257,757
Fixtures & Equipment 189,736
Leasehold Improvements 279,626
Less: Accum Depreciation (1,871,833)
-----------
Total Non Current Assets $ 506,633
TOTAL ASSETS $ 1,931,006
LIABILITIES
Current Liabilities
Accounts Payable 969,393
Taxes Payable 378,109
Other Current Payables 64,482
-----------
Total Current Liabilities $ 1,411,984
Non Current Liabilities
Notes Payable 1,180,245
TOTAL LIABILITIES $ 2,592,229
EQUITY
Capital Stock 204,025
Additional Paid in Capital 1,981,604
Prior Period Adjustment 70,426
Retained Earnings (Prior) (2,594,774)
Retained Earnings (Current) (322,503)
-----------
TOTAL EQUITY $ (661,223)
TOTAL LIABILITIES & EQUITY $ 1,931,006
About AmeraMex International
AmeraMex International sells, leases, and rents heavy equipment to
companies within four industries: construction (light and infrastructure),
shipping, mining and logging. AmeraMex's largest product line is
specialized container handling equipment that enables stevedoring companies
to quickly and efficiently load and offload container and general freight
ships dockside. AmeraMex, with customers in North America, South America,
Africa, Asia, and Eastern Europe, has over 30 years of experience in heavy
equipment sales and service and inventories top-of-the-line equipment from
manufacturers such as Taylor Machine Works Inc. and Terex Heavy Equipment.
For more information, please visit the company's website: www.ammx.net.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended (the "Exchange Act"),
and as such, may involve risks and uncertainties. Forward-looking
statements, which are based on certain assumptions and describe future
plans, strategies, and expectations, are generally identifiable by the use
of words such as "believe," "expect," "intend," "anticipate," "estimate,"
"project," or similar expressions. These forward-looking statements relate
to, among other things, expectations of the business environment in which
the Company operates, projections of future performance, potential future
performance, perceived opportunities in the market, and statements
regarding the Company's mission and vision. The Company's actual results,
performance, and achievements may differ materially from the results,
performance, and achievements expressed or implied in such forward-looking
statements.
Contact Information: Media and Financial Contact: Marty Tullio McCloud Communications LLC 949.553.9748