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I bought some more today. All the latest news is good.
The numbers game is simply the result of the auditors putting the 2016 and 2017 financials into correct shape for SEC consideration. What’s important now is the business prospect for the next year or two, and at this point things look very good: the increased rental business, the very strong 1Q result, the good US economy and at least the chance of new African business. I would be surprised if we didn’t see the SP going to .05 this year, or maybe higher, and I have a very big bet on it.
19 followers now!
We know that 2017 profits were a lot lower than 2016, but maybe that is fully baked into the sp. So now the hope is that a combination of audit, uplist and increased sales will bring a solid rise in sp. Unfortunately with present management it’s hard to see a dramatic improvement.
They need to have a sustained bid price of .01 for their uplisting. They are nearly there, though staying there depends on good business in 2018 and of course a successful audit.
Thanks this is good DD.
I’m with you. I’ve been following these guys for years and am looking to the future. I really believe that this year they will fix the audit and get uplisted. Big new business is another matter, but there is a good chance of increased construction business which should be good for them.
I think it’s been 7 years for me, and I’ve got waay too many shares.
Am I dreaming but are we seeing some buying support?
They also need a good CEO, but I guess they can’t afford one.
Thank you Tyburt for your voice of reason. I expect an SP of absolute minimum .01 by August because that is what is required for the uplisting, and the company will find a way to achieve it. I’m waiting for .05 myself when I may sell some shares. However I’m looking for a long-term price much higher than that.
I believe that things have changed over there in Chico and that the audit/SEC/uplist issues will be successfully resolved in 2018. I have a big bet on it.
It has been a bad investment but I have not lost hope and still retain a large shareholding. The company’s net profits almost certainly fell in 2017 for the first time in quite a few years, hence the current low SP, but it will still show a net profit. I have observed a more responsible attitude from management in the past year and expect audit/SEC/uplist by August 2018, accompanied by some serious promotion to professional investors. I will continue to be a firm holder, based on their steady and growing core business. And of course a large African contract would stir up some welcome irrational exhuberance.
I estimate completion of audit/SEC/uplist by end of August 2018. However, serious rise in SP depends on good new business as well.
Why do insiders not care about the PPS? They are the ones to gain the most from a rise in the share price.
I see 2017 as the year Ameramex got serious about the audit, a necessary step towards a better share price.
Thanks. I am a long term investor, not a trader.
I don’t know what OT means, but if you are talking about promoting other stocks on this AMMX site I’m strongly against it.
They have 11 followers on Twitter. I’m one of them.
Yes I think you are right.
Agree, great news. And the audit news is also good. Delayed but I believe they finally have a handle on it.
Email Marty about it.
Down on good news, as usual.
If they want to be uplisted the SP has to be at 1c or more. Hope they can do something to achieve that.
.....and they need an SP of at least 1c for the hoped-for uplisting.
Gtoken: doubling would depend on three ifs:
1. $1m annual profit
2. Successful audit
3. P/E ratio of 10, reasonable given 1 and 2 above.
2nd half 2017 would have to be very good, and CFO energetic, to achieve this in 2017.
Nevertheless I remain optimistic for the medium term, I think management’s approach has improved.
Higher than yours!
I know it's crazy but I still believe I'm going to make money on this stock. This year has been very disappointing so far.
Tks Wallstreet, vg dd, encouraging news.
We can't expect a sustainable rise without the audit, the uplisting and a large contract - all three. Until then, just wait, as some of us have been patiently doing for a long time.
The only certainty of a lawsuit is that the share price will plummet.
Orca, please DO NOT start a lawsuit. All it will achieve is transfer money from our pockets to the lawyers'. These class action suits are a lawyer's dream.
Another good sign: no more shares issued as at 1q17 and 4q16. Though presumably paying directors and suppliers in cash instead of shares accounts for part of the reduction in net profit.
Born: thanks for all that information. It seems that AMMX's prospects in Nigeria are solidly based.
2017 is the year that AMMX becomes a professionally managed, audited company. This added to its known sales expertise should give its share price a dramatic lift. Investors just need to be patient for a few more months.
I was the main seller yesterday, needed some cash. I still have lots of shares and still have faith, though a bit shaken by the recent audit fiasco.
Tks. I don't meet that requirement.
How many shares would it take to be able to demand a seat on the board?
Someone's fooling around. No reason for sp to fall like this on good news.
As expected, share price is very low at year end: any share awards to directors will therefore have maximum value.