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You're right. I was incorrect. I believe AMMX is acting fraudulently.
Exposing what I believe to be fraud.
The brothers comment is very high school.
The burden of proof is on me? Unverifiable claims from a company that can "get away with it" and the burden of proof is on me? I guess you don't remember how many African claims have not materialized? I guess you don't remember the 2011 SEC audit that was just a few weeks from being completed per PR?
Just say I'm right and you all are wrong. Here's what happens. The company states that the funding from the Niger deal was pulled. A lot of disgruntled shareholders sell and move on. A year from now, Algeria needs help building a new hospital and AMMX received an MOA to do that. New investors show up, everything is on target again. Container handler sales are better than ever and another few hundred million shares are sold into the market.
One last thing, if I am right and I don't do this, who will? Or does it even need to be done. If I happen to be right, should I just sit back and let the company go on misleading investors? Obviously I have a conviction here and I apologize if it is uncomfortable.
Ok. I haven't sent any questions yet but I will let you know when I do and her response.
I did answer your question. I believe those shares are the reason for all of this. The company was sub-penny and now they aren't. New shares hit the market. AMMX is much better off than they would've been without the large African PR's. This company is a non-reporting company and so whatever they tell you about container handler sales, large African deals, etc.. is not confirmed by the SEC. I did research on that. They can basically say whatever they want. The SEC may go after them if they have a reason to, typically they don't.
If anyone disagrees with me, please provide proof. I'm not saying AMMX is a fraud. I'm saying there is enough evidence that they should be required to show proof that they are not. I asked them to and they would not. Their share price is falling as new shares are hitting the market and they still will not. How would AMMX know how to tropically modify 300 semi trucks? Will the AMMX design team be creating the new parts to be made for the modifications? The modifications will be done in China. Will there be interpreters everywhere they go? Will the drawings be translated from English to Chinese and then French for approval?
Where's Richard? I thought he'd be biting my head off by now?
I will forward my questions to the company via email. Very sad will be if they don't answer them.
Shares Outstanding on 11/28/12 were 388,677,215
Shares Outstanding on 5/16/14 were 660,280,879
Shares sold in a year and a half: 271,603,664
The Doc reported that the company has been profitable for 5 quarters? 271 million shares released? That's 2.7 million dollars if you take a .01 avg share price. Where did that money go? It didn't go to the SEC audit that they have been promising. Why not?
Another question: It is known that there are already Chinese semi truck suppliers supplying trucks in Niger. AMMX is not a semi truck manufacturer or servicer. Why would the Niger government give Lee Hamre/AMMX 20-30 million dollars to work a deal when they are already doing business with Chinese truck manufacturers? How is AMMX capable of providing semi truck modifications in China? Why won't the company provide some kind of evidence that the deal is real?
I believe the company is being fraudulent to investors. I have spent a lot of time on this company (wish I could have it back) and I believe they are PRing "pie in the sky" PR's to sell shares. I agree they have a core business but nothing else is verifiable and they keep on making outrageous claims. I believe this could go sub-penny and I want investors to have the opportunity to see both sides.
Great post! I changed my mind.
Thank you! That was a good laugh.
I wonder why they didn't go with this company located in their capital city?
http://africa.biagroup.com/countries/niger/
Big 2 mil block at .0023 is gone or hiding! I wonder if they'll let this move now.
You got your yellow star up above! GM Tech must be back in.
TINO - 10 Million float and promo's out this morning. Should be an awesome day trade.
Fair enough.
http://africa.chinadaily.com.cn/weekly/2014-09/19/content_18625311.htm
"China National Heavy Duty Truck also delivers a total of around 700 trucks annually to Benin, Burkina Faso, Cote d'Ivoire, Guinea, Senegal and Niger.
Chinese truck makers use two major ways to sell trucks in Africa: through local dealers or Chinese construction and logistics companies working in the continent."
Interesting article for discussion! Thoughts on where AMMX fits into this matrix?
I can see how the O/S probably changed but, yeah, no way the A/S had to be increased.
What did they say it changed to?
Looking good. Churning and churning. This is going to be a big run.
This is set up for a very nice run! I doubled down in the 7's. Chart looks great.
That's funny. Seems like some people will say anything when they're a shareholder and the share price is falling.
I've been guilty of this myself.
Whatever is the case, VNDM is on the ask and he keeps taking out any bid that shows up. That's a more important topic than the whispers that you were focused on or the lies that you're accusing me of.
Nope. You're incorrect once again. Good try though. Lots of manipulation on this board.
VNDM and VFIN were both on L2 when I first brought it up. So you are the one who is now lying on this board. Everything I say is verifiable.
I don't know about everyone else but the OTC market has been very tough this year to me. Used to be a lot easier to pick big gainers but now it seems more people just scalp since you can get burned very quickly. Any insights?
My pick is CEHC @ .0011.
Anything is possible with a locked up float! Seems like the company is on board with a significant move north as well.
Lex, let me ask you a better question! If nothing about the Niger deal, or any other deal for that matter is verifiable, what is going to stop a company from making a claim and then stating later that it simply did not work out?
5/19/09
AmeraMex International Signs $28 Million Contract to Ship Heavy Equipment to Africa
Status: Did not materialize
7/30/09
AmeraMex International Signs Memorandum of Understanding with Ghana’s Minister of Transportation for a $245 Million Rail System
Status: Did not materialize
8/31/09
AmeraMex to Receive Signed MOU for Ghana Farming Project
Status: Did not materialize
10/20/09
AmeraMex International Signs Letter of Intent to Merge with Cromer Equipment Company
“The merger of the two companies will produce pro forma revenue of $38.5 million”
Status: Did not materialize
11/20/09
AmeraMex International and Marchetti Construction Meeting with ETHPE, the Second Largest Construction Company in Algeria
Status: Did not materialize
3/14/11
AmeraMex International Retains Squar Milner to Perform SEC Audit
Status: Did not materialize
12/17/12
AmeraMex International to Supply Equipment for Infrastructure Construction in North Africa
“announced today that it has entered into a partnership with a U.S. company that has signed an agreement with the government of a North African country to construct and repair the country's railway system. Preconstruction work will begin March 2013.”
Status: Did not materialize
7/9/13
AmeraMex International Provides Update on Northern African Project
“provides an update pertaining to a potential five-year contract valued at $500 million. Under the terms of the contract, AmeraMex will replace heavy capacity trucks and trailers owned by the Department of Transportation in a North African country. The name of the country is not provided due to the competitive nature of the transaction.”
Status: Unknown - this might be the Niger deal
5/8/14
AmeraMex International to Receive MOA for $80 Million Project
Status: Pending per IR
6/3/14
AmeraMex International Provides Shareholder Update
“announced that Agreement with Niger's Minister of Transportation has been signed and will shortly be submitted for financial review by lenders. The total value of the Agreement is valued at $200+ million with the initial phase worth approximately $30 million. The Agreement must meet with approval of the lenders before it can be executed. In addition to the truck Agreement being submitted to the financing entities, the $80 million Memorandum of Agreement for the solar project is on track and expected within the next 30 to 45 days.”
Status: Pending per IR
Now, if you're wondering why they would do something like that:
Do you still feel that the company does not need to provide some kind of proof of the Niger deal?
I just re-read the letter. It doesn't say anything conclusive.
AMMX Letter to Shareholders May, 2014
Dear Fellow Shareholder,
The management team and I want to thank you for your ongoing belief in and commitment to AmeraMex over these past transitional years. In return, we are dedicated to increasing shareholder equity through growth of revenue and profitability. We pledge to communicate the status of projects, successes and losses, to our shareholders in a timely manner. I am pleased to provide you an overview of 2013 and of the 2014 first quarter. Our U.S. goals for 2014 are to expand sales of new equipment and our rental business parallel with growing our international market, particularly in Africa and South America. We will do this by focusing on our core business strengths and by taking advantage of entrepreneurial opportunities as they present themselves.
Update on Niger activities/opportunities
We have just received the Memorandum of Agreement (MOA) from Niger for 3,000 trucks with a gross value of r $300+ million over a three-year period. With the MOA, which establishes the terms and conditions of the Agreement, we along with three representatives of the Niger government will travel to China. The trip is necessary to review the truck inventory as outlined in the AmeraMex proposal and referred to in the MOA. The next step will be the development of the Agreement for signature.
We also have a second opportunity in Niger, a 20 megawatt solar system. We have selected a solar company in Hawaii to provide the equipment and expertise for the initial system. It is our understanding that the MOA for the solar system will arrive in the near future. We believe these agreements will provide AmeraMex additional opportunities within Africa.
Revenue Increased 79 Percent in 2013
The company reported revenue of approximately $6.1 million with gross profit of $2.6 million compared to revenue of approximately $3.4 million with gross profit of $2.4 million for the year ended December 31, 2012.
Net Income Improved 362 Percent in 2013
The company reported net income for the year of approximately $.485 million compared to net income of $.105 million for the year ended December 31, 2012. This is due in part to a decrease in operating and financial expenses.
Stronger Balance Sheet in 2013
Cash and cash equivalents increased from $33,119 in 2012 to $817,208 in 2013. Total Assets increased from $892,250 in 2012 to $2.7 million in 2013.
SEC audit status
The company has interviewed auditing firms in the Bay area that have a good understanding of our industry. We will not renew the audit process until all the monies have been set aside to complete the audit in a timely manner.
Order delays for farming and railroad project
While management and its partners continue an ongoing dialogue with responsible agencies, the railroad construction project has been delayed for at least two years; therefore, management will focus of projects closer to being finalized.
Project funding
Management is working with a New York-based financing company and a China-based equipment financing group to provide funding for current and future projects.
Crude oil project
Management is collaborating with an oil drilling company to form an alliance with the government of The Congo for in-country drilling of crude oil. We have excellent contacts in The Congo and when asked about a drilling alliance, we contacted a company with drilling expertise to provide the necessary equipment and knowledge – one of our entrepreneurial opportunities.
African partners
We are working with partners that have businesses in both The Congo and Niger. These partners are AmeraMex’s day-to-day connection to the countries government officials. Management has visited both countries on many occasions and believes there are multiply opportunities. The goal is to get our foot in the door with one project and others will follow.
U.S. marketplace for sales and rental
The U.S. market for new equipment has shown some growth but the rental market is beginning to take off as construction and logistics companies prefer rental of necessary equipment versus capital outlay. We recently finalized a rental agreement for seven loaded container handlers that were in the lot of 18 handlers purchased in September 2013. The initial 12-month period is expected to generate revenues of $1.3 million. After 12 months, the handlers still have a resale value of $200,000 each. There are several other units currently on rent that will bring much better profit when we do sell them since the rental income will reduce the acquisition cost by the paid-in monthly rental.
$2 million equipment bid from U.S. port
The bid has not been awarded as all ports within the purchasing group must be in agreement and have monies allocated to purchase the equipment.
Progress marketing refurbished equipment
The market for refurbished equipment continues to grow and all but one of the 18 refurbished container handlers purchased in September 2013 have been sold (10 units) or rented (seven units). This was a very profitable transaction for AmeraMex.
Acquisition strategy
We had identified several candidates for an acquisition/merger strategy to provide equipment diversity, supplement support locations and expand sales territories. When the U.S. economy began to falter, a decision was made to table the acquisition strategy and put our efforts into expanding the company’s international presence in resource-rich countries. The decision has been hugely successful.
We have not reported our first quarter for 2014 but I can assure you that we will be reporting continued revenue growth and increased profitability. The entire management team is confident that 2014 will see continued success for the company and its shareholders. On closing, if you are not receiving our emailed news releases or invitations to participate in our shareholder update conference calls, please email your name, home address and current email to Marty Tullio at Marty@McCloudCommunications.com.
Again, thank you for your continued support!
Sincerely yours,
Lee Hamre
CEO
AmeraMex International
Born, that's a very valid point. I have no idea what mail fraud entails.
You should probably focus less on the "low lifes" of this board and focus more on a contract that shouldn't be unverifiable. Lee said they are going to modify ("tropicalize") these semi trucks for the Niger government. Any idea where and with what man power they are going to do that? Will a Hamre Equipment crew travel to a factory in China or Niger and perform these modifications? An assembly line of semi trucks being modified seems to be a pretty big deal. Millions of dollars worth of equipment and parts is needed no?
Rather than focusing on a low life like me, it would be more prudent to get answers that legitimately demonstrate the validity of this deal. This deal should not be a mystery or a secret.
How can you be in good standing without a license to do business in the state? I'm just asking. Does anyone know?
I truly apologize for my change of heart. I will say that the questions are good to ask and I honestly do not know what the truth is here. I can only speculate like all of us. No one should listen to me beyond my reasoning and then still question everything you hear. I'll be the first to admit I could be completely wrong here.
I would never try to scam anyone. Everything that I have said is information so everyone can make their own educated investment decision. If I'm a nutbag, everything will be fine and you guys will make a ton of cash. If I'm right, or even partially right, there are some that will have appreciated hearing the flip side of the coin to weigh the facts however they choose to do that. Interesting that you call me a joke. I don't think anything about this situation is funny.
You must take me for a fool! The funny thing is I gave you something to consider and you LOL it. Is that funny? People are losing money right now and you say LOL. Maybe you are a plant from the company. Rather than discredit me, prove the validity of the PR's and all this goes away. In my opinion, the burden of proof is on the company.
Mike, I would never lie for money. I know there are people that do that, I don't. I would never consider buying back into AMMX until I have some kind of solid proof of all their statements. In fact, I probably won't consider buying back in until they become SEC compliant.
Actually I came back because I don't like your insinuations!
No, I'm not saying that. I just think there needs to be some verification of PR's since there have been failed ones in the past and they are non-SEC reporting.
I agree. It might not be anything. Just something that needs to be looked into to see what's going on.