AMMX.0081.TAKE THE TIME BUDDY,AND READ THIS POST.ALL THE WAY TO THE END. AND DO SOME DD TODAY.BEFORE TOMORROWS MARKET OPEN.I AM BLOWED AWAY MORE THAN EVER WITH THESE NUMBERS.READ BOLD.I HAVE HAD TO SEE A PINK SHEET STOCK DELIVER THESE KIND OF REVENUES,AND NET PROFITS.UNFREAKEN REAL. AMMX SHOULD BE TRADING IN THE .03 AS OF NOW.AND AS HIGH AS .20 FOR 2018.AND THIS IS NOT JUST THROWING NUMBERS.THIS IS DUE TO REVENUES,AND EARNINGS FOR 2018.AND THE FACT THE THE O/S IS ONLY AROUND 250 MILLION.INSIDERS OWN CLOSE TO 60% OF THE O/S.AND ZERO DILUTION. Net Income The company reported net income for the year of approximately $1.7 million FOR THE YEAR 2017.ON REVENUES OF approximately $8.8 million First Quarter 2018 During the first quarter of 2018, AmeraMex has reported sales of over $6.9 million. Based on the current economic climate, management believes this positive outlook will continue to grow sales throughout 2018 and beyond. https://www.otcmarkets.com/stock/AMMX/news/AmeraMex-International-Reports-a-15-Percent-Increase-in-Revenue-for-the-Year-Ended-December-31-2017-and-a-69-Million-Fir?id=187746 AmeraMex International Reports a 15 Percent Increase in Revenue for the Year-Ended December 31, 2017 and a $6.9 Million First QuarterPress Release | 03/30/2018 CHICO, Calif., March 30, 2018 (GLOBE NEWSWIRE) -- AmeraMex International, Inc. (OTC:AMMX), a provider of heavy equipment for logistics companies, infrastructure construction, and tactical military vehicles, reports results for its financial year ended December 31, 2017 and a brief overview of sales for the first quarter of 2018 ending March 31.
Highlights for the Year Ended December 31, 2017:
Revenue for 2017 The company reported revenue of approximately $8.8 million compared to revenue of approximately $7.5 million for the year ended December 31, 2016.
Gross Profit for 2017 Increased 45 Percent The company reported gross profit of $4.3 million compared to gross profit of $2.3 million for the year ended December 31, 2016. Gross profit as a percentage of sales rose 17 percent over the previous year.
Net Income The company reported net income for the year of approximately $1.7 million compared to net loss of <$1.4> million for the year ended December 31, 2016.
Stronger Balance Sheet Total assets improved significantly due in part to an approximate $2.5 million increase of inventory. Total liabilities for the year increased $1.5 million due in part to the purchase of inventory.
Audit Update The Company’s outside auditors have completed the audit of its 2016 financial statements. They are now just finishing their review of the Company’s financial statements for the year ended December 2017 and will provide AmeraMex with any adjustments required. The Company plans to file the Registration Statement with the SEC as soon as possible. Then the SEC comment process will begin. The process can last three to four months, but the Company and its service providers are committed to responding expeditiously. After the SEC comment process is completed to their satisfaction, they will declare the Registration Statement “effective” and AmeraMex will be a “fully reporting company” which is a requirement before applying to list on the OTCQB.
First Quarter 2018 During the first quarter of 2018, AmeraMex has reported sales of over $6.9 million. Based on the current economic climate, management believes this positive outlook will continue to grow sales throughout 2018 and beyond.
Shareholder Conference Call AmeraMex International will provide a shareholder update March 30 at 10:00 a.m. Pacific Time. The conference call dial-in number for both U.S. and international callers is 1.323.994.2083. Please dial in to the conference center five minutes before the call begins and ask the operator for the AmeraMex conference call.
Financials follow
AMERAMEX INTERNATIONAL, INC. STATEMENTS OF OPERATIONS FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016
2017 2016
Revenue $ 8,845,924 $ 7,540,051 Cost of goods sold 4,539,179 5,192,793 Gross profit 4,306,745 2,347,258
Operating expenses: Selling expenses 208,102 80,045 General and administrative 2,161,698 2,458,383 Stock-based compensation - 108,763 Total operating expenses 2,369,799 2,647,191 Income (loss) from operations 1,936,946 (299,933 )
Other income (expense) Interest expense (497,942 ) (438,239 ) Other income 245,516 (486,657 ) Total other income (expense) (252,426 ) (924,896 )
Income (loss) before provision for income taxes 1,684,520 (1,224,829 )
Provision for income taxes - 131,760
Net income (loss) $ 1,684,520 $ (1,356,589 )
Weighted average shares outstanding: Basic 753,415,879 754,890,879 Diluted 753,415,879 754,890,879
AMERAMEX INTERNATIONAL, INC. BALANCE SHEET AS OF DECEMBER 31, 2017
2017 ASSETS
Current Assets: Cash and cash equivalents $ 553,267 Accounts receivable 672,607 Inventory, net 4,137,812 Other current assets 40,614 Total current assets 5,404,300
Furniture and equipment, net 3,960,337 Other assets 253,881 TOTAL ASSETS $ 9,618,518
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities: Accounts payable $ 2,461,348 Accrued expenses 46,918 Deferred revenue 3,149,212 Income taxes payable 148,677 Line of credit 488,000 Notes payable, current portion 824,022 Notes payable - related party 371,350 Total current liabilities 7,489,527
Notes payable, net of current portion 1,660,284 TOTAL LIABILITIES 9,149,811
Commitments and contingencies (Note 8)
STOCKHOLDERS' EQUITY: Common stock, $0.0001 par value, 1,000,000,000 shares authorized, 754,015,879 and 664,890,879 shares issued and outstanding 754,016 Additional paid-in capital 20,785,925 Treasury stock (10,438 ) Accumulated deficit (21,060,796 ) Total stockholders' equity 468,707 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 9,618,518
AMERAMEX INTERNATIONAL, INC. STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016
2017 2016
OPERATING ACTIVITIES: Net income (loss) $ 1,684,520 $ (1,356,589 ) Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 670,149 523,080 Stock-based compensation - 108,763 Loss on settlement of debt - 497,500 Gain on sale of equipment - (31,535 ) Change in current assets and liabilities:
INVESTING ACTIVITIES: Payment for furniture and equipment (318,318 ) (3,055,286 ) Proceeds from sale of equipment - 242,020 Net cash used in investing activities (318,318 ) (2,813,266 ) FINANCING ACTIVITIES: Proceeds from notes payable 3,220,437 790,336 Payments on notes payable (2,065,101 ) (455,417 ) Purchase of treasury stock 5,000 (6,438 ) Proceeds from note payable - related party 3,724 - Payment on note payable - related party (53,858 ) (214,905 ) Net proceeds (borrowing) under line of credit 42,089 44,891 Net cash provided by financing activities 1,152,292 158,467
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (639,749 ) (589,528 )
CASH AND CASH EQUIVALENTS, BEGINNING BALANCE 86,482 -
AmeraMex International AmeraMex International sells, leases and rents heavy equipment to companies within multiple industries including construction, logistics, mining, and lumber. The company also represents an inclusive product line of advanced performance tactical military vehicles from Oshkosh Defense, LLC. AmeraMex, with a US and international customer base, has over 30 years of experience in heavy equipment sales and service. Follow AmeraMex on Twitter @ammx_intl and visit the AmeraMex website, www.AMMX.net or www.hamreequipment.com for additional information and equipment videos.
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.
Investor and Media Relations McCloud Communications, LLC Marty Tullio, Managing Member Office: 949.632.1900 Marty@McCloudCommunications.com
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