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Just a guess, but I believe they might need the trucks first to help build the solar station. I believe many of the trucks will be transporting goods from a wet port to some of Niger's dry ports. I think as the truck deal gets done, they will turn their focus to the solar deal.
No problem guys! I'm pretty tight with investments usually because I have trust issues in penny land. However this company is so amazing, a good american story and very transparent. It's a rare find and I'm trying to not be blind-sided by some item that I could have avoided with a little DD. So far there are no red flags and this is a rare company that is tremendously undervalued with tons of growth potential. They've already proven their growth potential years ago before the economy faltered. Have a good night and lets all dream about what island we are going to buy with our profits :) AMMX!
Another reply from Marty, as I asked about the trucks being new or used (for confirmation even though I assumed new)...
"The trucks will be new. A number of the trucks will be used to transport goods from the ocean to the capital of Niger. Tropicalized means that must be able to handle heat, high water and less that perfect roads....not to mention humidity."
AMMX!!!
Here's another bit of exciting info from the shareholder meeting as well...
"Question: If the 270mm goes through would the company buy back shares or issue a one-time dividend?
Answer: Lee would highly consider it."
Now that would be awesome!!! AMMX
From the shareholder meeting...
Question: After audit, are they planning to upgrade exchanges?
Answer: (Kevin) The audit should be completed 60 days after starting the process. Audit is planned for summer months when during slower times for the accounting firm. (Marty) Nasdaq small cap requires trading at $4/share, which is awhile away. About $50,000 in additional fees to be traded there, which is a lot for a small company. OTC QX is more probable, but a gradual move is planned as the share price allows it. It’s been Lee Hamre’s goal to ring the bell at NASDAQ since Marty met him.
My guess is around .20 after the contract announcement. As more deals are solidified and earnings come out with the new revenue levels, I'm guessing a climb to .50 by EOY. The problem with stocks like these is anything is possible. This could sit and go nowhere because its not a sexy pic, and this could also blast off into the dollars. Depends on uplisting and big time investors taking a position.
Sadly Lee needs to put a PR out that he sold a tractor to a MJ farmer and every MJ flipper will come running for the next MJ play and drive this to the stratosphere.
I just hope good old fashioned long term investors wake up and see this gem and start to pour some big money in. It's time for this thing to take off and consolidate at much higher levels. Might be a long week, but the word will eventually get out. Next weeks action could get REAL interesting before the contracts are inked. Hold on tight. AMMX!
I'm with you cheese. This may be the longest two days of my life, knowing what the money I can put in at these levels will give me in a year or so. Life changing...
Marty's on it today! Here is her reply:
"The funding is lined up but I do not have the margin information as pricing is being solidified while in China. We generally do not discuss individual order margins as this is a competitive industry."
So in conclusion, funding is already a go. We just need all sides to dot their i's and cross their t's next week and make this a done deal.
So awesome to see this little company hit the big time... Go AMMX
I just pinged Marty (IR) to see if financing is already in place via the MOA or whether that's another hurdle to clear still. I also asked if she can give some guidance on expected margins from this deal. I'm not sure she can tell me, but it's worth the ask so we don't speculate ;) I'll update when I have the response. Go AMMX!
Please God, let my funds clear more quickly than Friday. I need them today!!! Ugh. We still have a solar project update, a 500k update, quarterly earnings update and the contract agreement update! And this is still in the .03 range?!?! Wow!!! I want more now!!!!
There was no mention of the price of the contract in the PR. For everyone outside, they won't realize this is for $200million if they don't do some DD. that's my theory.
I'm with you all the way! I feel like Thor trying to knock this thing into dollarland with one big-handled hammer. AMMX
Thanks for the breakdown Zomax. I especially like the comments lol. AMMX
Here's your daily chart. The ridiculously huge dragonfly doji is pretty amazing and is a reversal sign to the bullish side. We'll need confirmation tomorrow, but I think today was a turning point for an upward trend. Plus we had higher than average volume and closed at the daily high. All very good signs. AMMX long and strong!!!
Hopefully Friday!! Have more funds clearing Thursday. Don't go flying without me! AMMX!
I just cleaned up the .034's. missed the earlier craziness but that felt like a pretty solid point to buy some more positions at! Go AMMX!
So who's excited about the possibilities of this week?! Reading the 4/14 PR, it states:
-"On another front," continued Hamre, "we have a tentative trip scheduled to China and expect to receive Memorandum of Agreements for both the initial 20 megawatt solar system and over-the-road semi-trucks with in the next three weeks. We will keep you updated."-
So, one can conclude that this should be a great week if everything remains on schedule. Also, IMO the chart looks ripe for a rise to $.05 by EOW even without the MOAs. I hope I'm right! ;) AMMX!
I don't believe anything strange is happening here. If this was dilution, it was very weak dilution. The volume didn't scream anything weird was happening. Something to keep an eye on, but lets remember who the CEO is. Mr. Hamre has built his company on hard work and trust. I seriously doubt he would lie to us and not follow through with his word. Plus the company is doing great this year! If I didn't see any sales, I would question this more. The debt YoY was reduced significantly and all of this doubt is just us being spoiled. Every run has a consolidation period until news dictates otherwise. We're good to go and I'll wait patiently for my gains, while loading more at these levels. I added quite a bit today. AMMX long and strong!
I agree with this. I was slappin' this baby left and right at the end, but it just kept falling. Some MM was in control. We need a great Friday to end the week strong! AMMX!
Don't fret...look again in a week. I bet this will make you smile then. AMMX
It does mention Terex, which AMMX sells. You got the general idea of growth in this sector though. There is so much potential for a player like AmeraMex. If there was ever a time for this company to breakout, the next few years present that opportunity. Good stuff. Go AMMX!
This should give everyone an idea of why this company should keep growing for years to come...
http://www.companiesandmarkets.com/Market/Logistics/Market-Research/Material-Handling-Equipment-A-Global-Strategic-Business-Report/RPT648281
Great info/notes for those that are questioning jumping in. This company is real and growing quickly. Great DD and easy to comprehend. This is going to be a great year for AMMX...
Interesting day... Had 150 posts about the best trade site and only 5 posts about the company LOL. However, I think we've squared away the best trade site and L2 now! :)
Here is your daily chart. Still looks great and I think we came down to a comfortable level today. Lets see if we float in the same range tomorrow, or will we get lucky with some news? AMMX!
They still need to sign off on the MOUs before they take the trip (otherwise its pointless). We should have confirmation of the signing in the next week or two.
Ah ok. Good to know! Thx!
So obviously I'm long until this hits at least $1. Thanks Sharebuilder for keeping me honest! ;)
Sharebuilder charges a massive fee per share on trades with PPS under $1 (such as AMMX). They make their money on that. I would rather pay the 25 cent transaction fee ;)
Yeah, AMMX has said that it is going to actively pursue the contracts that will be closing the quickest. So if there are issues/hangups, that contract will be put on the back-burner for a bit. I like that approach, so they aren't chasing something that won't happen and wasting their time.
I think landing the first large contract will do so many things for this company. And, it will only strengthen their reputation with international countries.
Also, if you look closely, the $200 million Niger project is just a 'segment' of the larger $500 million they are expecting to do with the Ghana project. And all the money was going to AMMX, minus the fee they are paying to a local company.
I'm ready for some earth rattling news!
AMMX
And here is an update on another of my previous posts asking about the sales structure for AMMX. I wanted to make sure that Lee wasn't the only sales man for long-term investing reasons. Having a solid team of sales people will be paramount in maintaining a strong/growing company for many years to come. Here is Marty's reply to my email:
We have contract sales people, commission only in Africa, a sales person for US sales and Lee does the international sales. The company advertises through industry websites and print media. Additionally, after being in business for over 30 years, the company has a tremendous amount of repeat business and a stellar reputation in both the U.S. and the other Americas. Also, Lee has contacts in Asia and Russia that purchase refurbished equipment. The company has approximately 15 full time employees and is looking for another senior sales person. The sales cycle can be a matter of weeks to months depending on location, equipment availability, financing and shipping. The big machines have to be trucked in pieces and reassembled on location. The company does not ship internationally until the monies clear the bank.
Sounds like a great, growing company to me. I'm sure Lee oversees all sales if they are large enough. But this is helpful to see that they can handle multiple deals at once if needed due to timing. I feel good about what I know...
AMMX long and strong!!!
In regards to my post #9706, the answers Marty (IR) gave me are as follows in RED. Her answers were inline with my email questions. I hope this helps clarify previous projects that went without an update.
There are some projects listed on the Hamre Equipment website (http://www.hamreequipment.com/about.htm) and I am wondering if there are any updates on these? We are in the process of updating our website. Specifically, the West African oil refinery – This is no longer an active project – political issues in this country, the West African hospital and the West African farm project partnering with Walker Farms No longer active. We mentioned this in the shareholder update – monies were withdrawn and it looks like it could be another two to three years before funding. I think most of these were initiated a few years ago by looking at the PRs. Have any of these been successful, are they finished, what sort of revenues are they delivering and/or what is the overall status of the project? Again, on hold for funding that may never happen. We and our representative maintain dialgue with the appropriate government officials. Thank you and have a great day!
AMMX
But you are overlooking how fast and strongly we recovered. That shows the strength in this stock and a little selling pressure isn't going to drive the gains away. We have a strong resistance around .04 right now and it's going to take more than that to scare us.
Well that got exciting didn't it?! Whew, this is going to be fun when we blast off. I sense some news coming too...
Thank you!
Does someone have an L2 to throw up?!
It's a shake out?! Mr Mutt did you score your bid price now? Nice patience.
For new friends to this board, hopefully everyone has read the sticky that upperdivison posted from the conference call two months back...it's filled with goodies. I'm copying the contents here too for your viewing pleasure. The more I read, the more excited I get about the Niger deal. I just hope the Chinese don't build crummy trucks. That seems to be the only reason this might go south (although seems unlikely since Lee checked them out). Enjoy...
Notes from Conference Call (2/14/14)
I was about 5 minutes late on the call, but I started taking notes right away. Please keep in mind that I was not able to catch everything, and things may have been misheard. Feel free to correct my notes or add new things to them.
- Buying trucks in China, selling in Niger
---- Rationale
------- Half price in China
------- Chinese Government will help finance
---- Lee Hamre inspected the trucks during his trip to China
------- Lee met with Niger government 10 days ago
------- Good relationship
------- They want to give him the contract
------- Lee firmly believes this will be their first large project in Africa (After 30 trips )
------- $270 million initial sale with same profit margin (expected)
------- Next step will be to go to Niger when paperwork is ready.
------- Hamre will travel with Niger government to China to inspect the trucks to make sure they are happy with them. After that, the contract should be awarded.
------- 40 Million port project in the area as well (public/private partnership, but AMMX gets preferential treatment)
---- Working with NY based finance company to help fund West African countries
- AMMX is putting energy into projects that will close soon instead of ones that will take longer.
- AMMX has connections in the Congo
---- Congo connections requesting Hamre to bring in an oil drilling company
------- Proven source of crude oil
------- New business model, not just equipment sales
------- Working towards increasing Hamre rental fleet
---- After a recession, more customers want to rent instead of buying
- $23-24 million in gross sales back in the day, but lower gross profit than now
---- Used equipment has higher profit margin
- Acquisition Strategy
---- Expanding international presence in resource rich countries
---- New Equipment expected sales flat in the US
------- International sales expected to grow
Questions and Answers
Question: How much crude oil is in the Congo?
Answer: Lee doesn’t know yet
Question: Update on coffee business?
Answer: Got a letter of credit from CitiBank to buy the coffee in Ivory Coast. Was going to transfer it but the person wanted to change the LC, and Lee couldn’t. He could only transfer it. $3.5mm month transaction. Lee is only doing it if they have the money available.
Question: Can you go over the share structure?
Answer: (From Kevin) 1bil A/S. 520mm O/S. Management 180mm shares. 230mm float. 288mm restricted.
Question: Update on the audit?
Answer: Previously AMMX put a lot of money into audits, but discovered they had a lot of things to fix. AMMX didn’t have the money set aside for the audit in the past. Kevin will have the entire cost of the audit set aside soon.
Question: Dilution? Increase in O/S, what can we expect in the future?
Answer: No more dilution after what was mentioned today. Company had big debt to Lee Hamre, but Lee Hamre and Marty are accepting shares as payment. People are confident in the company so they are accepting shares as pay.
Question: Any more debt?
Answer: Still a little more, but AMMX is not behind on paying the debt. Kevin is managing cash flow.
Question: Update on 500mm Ghana project?
Answer: The project will be done in segments, starting in Niger with the 270mm deal.
Question: Is the full 270mm going to AMMX, or are there partners?
Answer: Just AMMX, but they are paying a fee to a local company.
Question: If the 270mm goes through would the company buy back shares or issue a one-time dividend?
Answer: Lee would highly consider it.
Question: After audit, are they planning to upgrade exchanges?
Answer: (Kevin) The audit should be completed 60 days after starting the process. Audit is planned for summer months when during slower times for the accounting firm. (Marty) Nasdaq small cap requires trading at $4/share, which is awhile away. About $50,000 in additional fees to be traded there, which is a lot for a small company. OTC QX is more probable, but a gradual move is planned as the share price allows it. It’s been Lee Hamre’s goal to ring the bell at NASDAQ since Marty met him.
Question: (Not much of a question. Guy goes off on crazy tangent about AMMX, but he’s happy about the stock)
Answer: We need to move on to other questions
Question: What is the timeframe for crude oil project?
Answer: Going in as partners with SAS congo. Lee met with them twice, and he is going back soon, but right now he is focusing on Niger. The project could happen very soon. A drilling company is ready to go at their own expense (can’t divulge the company yet because no contract is signed. They are a Russian company). This would be a new local business, not just an equipment sale. If it comes together, it should be 6 months or less, but no guarantees.
Question: Finance Officer said stock was undervalued. Can he expand? What value does he think it should be?
Answer: They don’t like to place numbers, but Kevin is confident in the direction the company is moving.
Question: Should the 270mm deal be done by the end of the year?
Answer: Yes, the first phase should be done by end of Q2 based on where things are heading now.
Question: How many restricted shares are there?
Answer: 288mm
(Random note) Lee Hamre has no fear that the company will go under. International business saved the company.
Question: What is your confidence in the 270mm deal?
Answer: Right now, it is high. There are a lot of rules and regulations for bids. Lee Hamre is confident that if anyone gets the deal it will be AMMX. There is always a chance in situations like this that it wont be for the full amount, or the deal could change.
Question: When does Niger need the contract to be done for their own needs?
Answer: 5 years ago. (Joke)
I reached out to IR to see if there are any updates on the oil refinery, hospital and farm. It doesn't appear there were any updates after the initial ones sent years ago. I'm assuming if they are listed on their website that they must have been successful to some degree with these? Otherwise they need to change their website info. However, if they are generating any sort of revenue wouldn't they have called that out at some point? Hopefully Marty can shed some light on this. We will see what they say... Go AMMX!