Replies to post #31926 on AmeraMex International Inc. (AMMX)

[ivorytowerboy]

The numbers that the company reports correspond pretty well with what has been announced by the company in PRs concerning completed sales. To lie about completed sales would,of course, be fraud. Lee is not a liar just an insanely optimistic hayseed. He probably wasn't too concerned about the audits because he assumed others would trust his word. A man's handshake may be binding among the truck drivers and ranchers of the Central Valley but it doesn't mean diddlysquat in West Africa or the heavily lawyered corporate boardrooms of North America.

I believe AMMX's numbers. I also believe that there is nothing else in pinky land that comes even close to AMMX. Whether AMMX stays a profitable mom and pop in the Central Valley or truly becomes a player remains to be seen. I'm willing to give AMMX another 8 months to deliver on a big deal.

[Manhattanman]

Micham: yes the share price is depressed because of Lee's terrible habit of over-promising and under-delivering. The reasons I hold on to my large and long-held position in the company are:

1. Maybe their announced results over the past 7 years are basically accurate. If so, the company's net profits have shown high and steady growth, and the share price should be at 0.08 or more today.

2. They have announced that the audit is already under way, they have named a respectable auditing firm, and that firm has not denied it.

3. Maybe they will be appointed agents for highly-respectable manufacturers and will be able to use that connection to land large contracts in Africa.

4. Lee is by far the biggest shareholder in the company. He stands to gain more than any of us from a higher share price, and finally has the cash in hand to afford a proper audit, the only serious hurdle remaining for him to jump.

For me this means an investment with very low risk and a good chance of very high rewards.