Replies to post #35028 on AmeraMex International Inc. (AMMX)

[gtoken65]

More like 9 years on audits:

June 9, 2008 -- AmeraMex International, Inc.
The final phase of our compliance with the Pink Sheets Electronic OTC Markets will be the completion of the required two-year audit, which will allow the company to apply for listing on the Nasdaq OTCBB or another trading system. Our goal is to apply and make this change before year end."

My advice for any newbies is just go to the AMMX website and do a search on Audit and Africa etc under the News Releases section and you will get a full picture for about a decade. And for those of us that are not under water here it is still 4 years almost the same PPS...could it change? Sure but not based on anything they are currently doing. If you remove that spike of almost .05 because it appeared the Niger deal was coming through the pps overall for years has been about .014 average...

06/29/2009 0.011
06/28/2010 0.0098
06/27/2011 0.016
06/27/2012 0.01
06/27/2013 0.0128
06/27/2014 0.035
06/26/2015 0.0155
06/27/2016 0.0103
06/27/2017 0.0078

[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."