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Born: I expect such handouts would be made on 12/31/2016.
I'm afraid you are likely to see a change in January.
I'm afraid they may be addicted to the large annual issue of shares to directors in lieu of salary. However I believe the negative effect of that dilution will be far outweighed by the positive effect of SEC compliance, uplisting, and a continuing rise in sales and profits.
Fully reporting plus uplisting = very big difference.
Uplisting to OTCQB takes ten days. Of course AMMX has to show it's qualified first, including SEC and 30 days of one cent plus SP. I think we can expect an IR blitz to help achieve the latter.
Thanks Pro Bono, that really is good DD.
Did you ask them about Hamre Equipment?
Sorry, I meant five cents- not that optimistic!
I'm planning to sell some of my AMMX shares in April/May 2017 at $5, but will hang on to the majority for much larger gains in a year or two.
Thanks Mike, good list. My main problem is the constant dilution.
Mike, Tks for yr PM. I can't PM myself.
No surprises here. Company has predicted a bumper 4Q. I expect full year 2016 net profit to be at least 50% up on 2015.
Mr Mutt, with respect I disagree. AMMX currently has a PEG ratio of 0.1, based on its present P/E ratio of about 5, and the growth rate of its annual net profit: 50% minimum over the past four years. Companies are considered to be neither over- nor under-valued at a PEG ratio of 1. If AMMX had a PEG ratio of 1, its share price would be about 0.074. Why isn't it? Because people don't believe its reported financials, and institutions aren't allowed to invest in companies with AMMX's current listing status.
I am confident that AMMX will be SEC compliant by next March, and uplisted to OTCQB shortly thereafter. A strong rise in its share price will follow smartly.
All that is without any expectation of huge exotic contracts, just a continuation of the outstanding growth of its core business, which will in any case probably benefit from the increased investment in infrastructure promised by the US president-elect.
Caterpillar up strongly today in anticipation of higher infrastructure spending when DJT takes over White House. Should benefit Ameramex too.
True! I just hope that continued profit growth and SEC reporting in four months' time will persuade timid investors to give AMMX a reasonable valuation.
Tks Alien, excellent DD. Proof of Ameramex's legitimacy, if there are any doubters still out there.
I think latest to IR was 25 million.
2015 third quarter net income was $102,000. As Lee says, his third quarters are seasonally slow.
Excellent update this morning:
AmeraMex International Receives Equipment Order for $125,000
Marketwired October 31, 2016
CHICO, CA--(Marketwired - Oct 31, 2016) - AmeraMex International, Inc. ( OTC PINK : AMMX ), a provider of heavy equipment for logistics companies (stevedoring/shipping), infrastructure construction, logging and mining companies, has received a $125,000 order for loaded container handlers. The order will ship to a customer in Mexico.
AmeraMex CEO Lee Hamre commented, "Business in the fourth quarter has picked up after a seasonally slow third quarter. We do have a nice pipeline of potential business and expect ending the year with a strong fourth quarter. We will be providing an update during our third quarter conference call scheduled November 15."
CFO Tracie Hannick added, "Not only do we expect reporting another strong year, but we are looking forward being a fully reporting company by the end of March 2017. We have just received the two-year audit from our auditors, Anton & Chia, for comment. We will be reviewing the document and getting back with any questions or information required within two weeks. At that point, the signed audit document is provided to our attorneys, Fitzgerald Yap Kreditor LLP, for preparation of the Form 10. This preparation generally takes 30 days and is reviewed by our management team before being sent to the SEC. The SEC review is, on average, a 90-day process."
Information pertaining to the November 15, 2016, third-quarter conference call will be disseminated later this week.
About AmeraMex International
AmeraMex International, a TRACE certified company, sells, leases and rents heavy equipment to companies within four industries: construction (light and infrastructure), shipping logistics, mining and commercial farming. AmeraMex has over 40 years of experience in heavy equipment sales and service and a customer base in the Americas, Africa, Asia and Eastern Europe. AmeraMex inventories top-of-the-line equipment from manufacturers such as Taylor Machine Works Inc., Terex Heavy Equipment, Barko Hydraulics, Menzi Muck AG and Genie. For more information, visit the AmeraMex website, www.AMMX.net or www.hamreequipment.com.
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.
Yes Alien, quite right. And first half 2016 net revenue $1.4m, compared to net revenue of $1.1m for FULL YEAR 2015. PC's comments not fact-based.
The reason to buy now is the imminent audit announcement, which is a racing certainty. At a current P/E of 2.3, the share price is likely to go up strongly after the announcement, since the large "scam" discount will go away overnight, except in the minds of the entrenched "AMMX deniers."
AMMX is not a scam. The audit report in a couple of weeks will prove it.
.....but they will!
I love this company, warts and all, and I've bet the ranch on it.
The audit hold-up was explained by the company:
"This is due in part to a member of the AmeraMex audit team being sidelined with health issues and a new lead auditor becoming acquainted with the project."
I see no reason to doubt this statement.
Nothing to worry about here, it's a small family company with limited resources and a boss who doesn't have a politician's spin skills. Audit won't show up any problems, full year 2016 results will be stellar, shares extremely undervalued at a P/E ratio of 2.55. What's not to like?
Can't remember I'm afraid! Maybe it was a cc.
Thanks Born. I can't private reply.
After tomorrow's audit announcement, SP should pop quickly above .01 and that will be the new floor.
A14343: may I draw your attention to the "Ignore" feature? I find it keeps the blood pressure down.
There is a glut of used heavy equipment. This could be good for Ameramex's refurbishment business.
A solid floor of .008 for the past few weeks. This should move up in October after the audit announcement, and should then establish a new floor above .01, a requirement for their uplisting. Slow but steady.
Born: yes, nothing to fear. They have been working with the auditors since the beginning of 2016, and have already made changes to their accounts as a result. I don't expect any nasty surprises.
Thanks A14343, I agree with you entirely.
I too have millions of AMMX shares, at average .011. I might sell a few at .05, but expect much higher in due course.
Mike
Yes that is good conservative advice. But waiting for certainty risks missing out on good profits.
Ameramex's annual net profit history since 2011:
2011 $153,000
2012 $276,000, + 80.4%
2013 $485,000, + 75.7%
2014 $801,000, + 65.2%
2015 $1,124,000, + 40.3%
2016 $1,400,000 in first half only
In the same period, shareholders' equity has grown from negative $717,000 in 2011 to positive $3,054,000 in 2016 (so far).
The company is still small, but its record of progress over the past five years is very impressive.
Lee has often said he isn't interested in a reverse split. If the audit confirms first half profits of $1.4m, then even if no further net profits are generated for the rest of 2016, and assuming a very modest P/E ratio of 11, the SP should rise quickly to .02, based only on actual core business results.
There may not be any more news until an announcement of the successful audit in early October. I don't mind waiting until then.
For their uplisting they have to show 30 continuous days of bid price at .01 or more. That requirement will become urgent as soon as their audit is completed, due 9/30/16.