AmeraMex International Inc. (AMMX)

[gtoken65]

Born...I know this was like 9 years ago but things this like are probably why they never pass an audit...

CHICO, CA -- June 2, 2008 -- AmeraMex International, Inc
For the quarter, the company reported record revenue of $5,459,854. Income from operations for the quarter was $146,014. During the quarter the company reported a one-time loss of $121,357, which was attributed to the embezzlement of funds during the quarter by the company's former bookkeeper, reducing net income to $24,657.

"Late last year we installed a new accounting system to support our anticipated growth and acquisition strategy," commented AmeraMex CFO Warren Murphy. "After completing the installation, an internal audit was conducted which uncovered accounting discrepancies totaling approximately $550,000 through the first quarter of 2008, with an expected recovery of $125,000."