AmeraMex International Reports Revenue of $2.0 Million For the First Quarter Ended March 31, 2018

Gross profits for the quarter increased 96 percent


CHICO, Calif., May 15, 2018 (GLOBE NEWSWIRE) -- AmeraMex International, Inc. (OTC:AMMX), a provider of heavy equipment for logistics companies (stevedoring/shipping), infrastructure construction companies and tactical vehicles for military organizations, today reported financial results for its first quarter ended March 31, 2018.

Highlights for the First Quarter of 2018

  • Revenue for the first quarter was approximately $2.0 million, a 33 percent increase when compared to revenue of $1.5 million for the 2017 quarter.
  • Gross profit for the first quarter was approximately $1.3 million compared to gross profit of $.689 million for the quarter ended March 31, 2017. This is an increase of 96 percent.
  • Net income for the quarter was $529,216 compared to net income of $2,329 for the first quarter ended March 31, 2017. 
  • Year-to-date, AmeraMex has received $7.6 million in equipment orders and renewal of rental contracts. This compares to $2.8 million in equipment orders and rental agreements for the same time period in 2017.
  • The audit for 2017 has not yet been completed.  Management will disseminate an update when the documents are provided to its outside legal counsel.

AmeraMex CEO Lee Hamre commented, “Last year we announced our agreement with Oshkosh Defense, LLC.  It has taken time to become familiar with the line tactical vehicles and determine decision makers within our target markets as political teams can rapidly change.   We extended invitations to potential customers and now have visits and demonstrations scheduled at the Oshkosh facility.  We continue to believe our agreement with Oshkosh Defense, LLC, is a catalyst for international sales growth.

“As announced last week, we have a large demonstration scheduled showcasing our Menzi Muck and AVR product lines in June. The demonstration, scheduled at a Forrest Service location in California, has drawn over 100 decision makers and influencers.”

Investor and Media Relations

McCloud Communications, LLC
Marty Tullio, Managing Member 
949.632.1900 or Marty@McCloudCommunications.com

Tables follow:

AMERAMEX INTERNATIONAL, INC.
STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS ENDED MARCH 31, 2018 AND 2018
(UNAUDITED)
     
     
  MARCH 31, 2018 MARCH 31, 2017
     
Sales$2,004,831 $1,542,618 
Cost of goods sold 655,167  853,295 
Gross profit 1,349,664  689,323 
     
Operating expenses:    
Selling expenses 52,363  51,570 
General and administrative 652,327  423,446 
Total operating expenses 704,690  475,016 
Income from operations 644,974  214,308 
     
Other income (expense)    
Interest expense (66,975) (36,213)
Other expense (48,783) (175,766)
Total other income (expense) (115,757) (211,979)
     
Income before provision for income taxes 529,216  2,329 
     
Provision for income taxes -  - 
     
Net income $529,216 $2,329 
     
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.
 BALANCE SHEETS
AS OF MARCH 31, 2018 AND MARCH 31, 2017
(UNAUDITED)
  March 31, March 31,
  2018 2017
     
ASSETS    
     
Current Assets:    
Cash  $  120,219  $  165,027 
Accounts receivable   766,020    597,498 
Inventory   4,287,117    1,850,668 
Other current assets   43,848    112,788 
Total current assets   5,217,204    2,725,982 
     
Furniture and equipment, net   4,160,695    3,881,611 
Other assets   253,881    243,150 
TOTAL ASSETS  $  9,631,780  $  6,850,743 
     
 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)     
Current Liabilities:    
Accounts payable $  1,385,238  $  748,708 
Accrued expenses   86,612    53,890 
Deferred Revenue   3,149,212   
Income taxes payable   106,760    61,867 
Line of credit   447,500    462,411 
Notes payable, current portion   1,114,843    1,192,164 
Notes payable - related party   359,210    417,065 
Total current liabilities   6,649,375    2,936,105 
     
Notes payable, net of current portion   2,137,914    1,349,072 
TOTAL LIABILITIES    8,787,289    4,285,176 
     
STOCKHOLDERS' EQUITY (DEFICIT):     
Common stock, $0.0001 par value, 100,000,000 shares authorized, 754,015,879 and 664,890,879 shares issued and outstanding   754,016    754,016 
Additional paid-in capital   20,785,924    20,774,825 
Treasury stock   (5,438)   (10,438)
Accumulated deficit  (20,690,011)   (18,952,837)
Total stockholders' equity (deficit)   844,491    2,565,566 
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)  $  9,631,780  $  6,850,743 


 
 
 
 
AMERAMEX INTERNATIONAL, INC.
STATEMENTS OF CASH FLOWS
FOR THE THREE MONTHS ENDED MARCH 31, 2018
(UNAUDITED)
  
 MARCH 31, 2018
  
OPERATING ACTIVITIES:
Net income  529,216 
Adjustments to reconcile net income to net cash provided by operating activities: 
Depreciation 
Stock-based compensation 
Loss on settlement of debt for common stock 
Change in current assets and liabilities: 
Accounts receivable  (120,414)
Inventory  (323,900)
Other assets  (5,023)
Accounts payable  (1,035,530)
Accrued expenses  - 
Income tax payable  - 
Net cash provided by operating activities  (955,651)
 
INVESTING ACTIVITIES:
Payment for furniture and equipment  (234,377)
Net cash used in investing activities  (234,377)
 
FINANCING ACTIVITIES:
Repayment of note payable 
Proceeds from note payable - related party  797,913 
Net proceeds (borrowing) under line of credit  (40,500)
Purchase of treasury stock 
Net cash used in financing activities  757,413 
 
NET DECREASE IN CASH
(432,615)
 
CASH, BEGINNING BALANCE
  553,267 
 
CASH, ENDING BALANCE
120,652 
 
CASH PAID FOR:
Interest   66,975 
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 party - 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.