CHICO, CA--(Marketwired - Aug 11, 2016) - AmeraMex International, Inc. (
Highlights for the Six-month Period
- SEC audit began and is expected to be completed in September 2016
- Sales agreements signed in the second quarter were approximately $2.5 million
- Received rental agreement totaling $100,000
- Container handlers (wet and dry ports) contributed $1.8 million in sales
- Farming equipment contributed approximately $135,000 in sales
- Forklifts contributed (mainly to sawmills) approximately $560,000 in sales
- Company received TRACE certification
Second Quarter Ended June 30, 2016 The company reported revenue of $2,575,732 compared to revenue of $1,278,008 for the second quarter of 2015. Net income for the quarter was $237,510 compared to net income of $252,799 for the second quarter of 2015. Gross profit, as a percentage of sales, was 36 percent compared to 63 percent for the comparable 2015 period.
Six-Month Period Ended June 30, 2016 Revenue for the six-month period was $5,818,813 compared to revenue of $2,213,206 reported for the comparable six-month period of 2015. Gross profit margin, as a percentage of sales, was 62 percent. The company reported net income of $1,421,038, compared to net income of $221,456 for the six-month period in 2015.
The conference call dial-in number for both U.S. and international callers is 1.719.457.2655. An audio replay of the conference call will be available from August 24, 2016 at 5:00 p.m. Eastern until September 7, 2016 at 11:59 p.m. Eastern. The replay can be accessed by dialing 1.858.384.5517 and entering conference pin number 1193466.
About AmeraMex International AmeraMex International sells, leases and rents heavy equipment to companies within four industries: construction (light and infrastructure), shipping logistics, mining and commercial farming. AmeraMex International's largest product line is specialized container handling equipment that enables stevedoring companies to quickly and efficiently load and offload container and general freight ships dockside. AmeraMex, with customers in the Americas, Africa, Asia and Eastern Europe, has over 30 years of experience in heavy equipment sales and service and inventories top-of-the-line equipment from manufacturers such as Taylor Machine Works Inc. and Terex Heavy Equipment. For more information visit the AmeraMex website, www.AMMX.net .
Safe Harbor Statement 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.
| AmeraMex International, Inc. | |||||||||||||||||
| CONDENSED STATEMENT OF OPERATIONS | |||||||||||||||||
| (UNAUDITED) | |||||||||||||||||
| For the Three-month Period Ended June 30, 2015 | For the Three-month Period Ended June 30, 2016 | For the Six-month Period Ended June 30, 2015 | For the Six-month Period Ended June 30, 2016 | ||||||||||||||
| Sales | $ | 1,278,008 | $ | 2,575,732 | $ | 2,213,206 | $ | 5,818,813 | |||||||||
| Cost of Sales | 477,401 | 1,643,988 | 863,917 | 2,189,844 | |||||||||||||
| Gross Profit | 800,307 | 931,744 | 1,349,290 | 3,628,969 | |||||||||||||
| Expenses: | |||||||||||||||||
| Operating | 341.764 | - | 520,151 | - | |||||||||||||
| Selling | - | 19,463 | - | 38,419 | |||||||||||||
| G&A | 225.744 | 643,996 | 520,,835 | 1,603,454 | |||||||||||||
| Total Operating Expenses | 547,508 | 663,459 | 1,040,986 | 1,641,873 | |||||||||||||
| Net Income (loss) from Operations | 252,799 | 268,285 | 308,304 | 1,987,096 | |||||||||||||
| Other Income, Expense, Depreciation | (49,747 | ) | (31,772 | ) | (85,401 | ) | (69,630 | ) | |||||||||
| Other Expense | - | 997 | - | (496,428 | ) | ||||||||||||
| Provision for Income Tax | 1,446 | - | 1,446 | 23,120 | |||||||||||||
| Net Income (Loss) | $ | 201,606 | $ | 237,510 | $ | 221,456 | $ | 1,397,918 | |||||||||
| Basic Earnings (Loss) Per Share | 0 | 0 | 0 | 0 | |||||||||||||
| Weighted Average Shares Outstanding | 660,280,879 | 753,415,879 | 660,280,879 | 753,415,879 | |||||||||||||
| Diluted Earnings (Loss) Per Share | 0 | 0 | 0 | 0 | |||||||||||||
| AmeraMex International, Inc. | ||||||
| UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||
| Second Quarter 2016 | ||||||
| CURRENT ASSETS | ||||||
| Cash and cash equivalents | $ | 77,032 | ||||
| Accounts receivable | 235,156 | |||||
| Other Current Assets | 166,075 | |||||
| Inventory | 1,438,041 | |||||
| Total current assets | 1,916,304 | |||||
| PROPERTY AND EQUIPMENT | ||||||
| Furniture and equipment, net | 3,532,222 | |||||
| Other assets | 153,090 | |||||
| TOTAL ASSETS | $ | 5,601,616 | ||||
| CURRENT LIABILITIES | ||||||
| Accrued Expenses | 37,263 | |||||
| Accounts Payable | 378,784 | |||||
| Income Tax Payable | 118,338 | |||||
| Line of Credit | 480,186 | |||||
| Notes Payable - current | 520,097 | |||||
| Notes Payable - related parties | 424,093 | |||||
| Total current liabilities | 1,958,761 | |||||
| Notes Payable net of current | 588,252 | |||||
| TOTAL LIABILITIES | $ | 2,547,013 | ||||
| STOCKHOLDER'S EQUITY | ||||||
| Common stock | 754,016 | |||||
| Additional paid in capital | 20,774,825 | |||||
| Accumulated deficit | (18,463,800 | ) | ||||
| Treasury stock | (10,438 | ) | ||||
| Total Shareholder Equity | $ | 3,054,603 | ||||
| TOTAL LIABILITY AND SHAREHOLDER EQUITY | $ | 5,601,616 | ||||
| Shares Issued and Outstanding | 753.4 Million |
| Restricted | 664.9 Million |
| AMERAMEX INTERNATIONAL, INC. | |||||||
| STATEMENTS OF CASH FLOWS | |||||||
| FOR THE SIX MONTHS ENDED JUNE 30, 2016 | |||||||
| (UNAUDITED) | |||||||
| OPERATING ACTIVITIES: | |||||||
| Net income | $ | 1,397,918 | |||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||
| Depreciation | 225,884 | ||||||
| Stock-based compensation | 97,663 | ||||||
| Loss on settlement of debt for common stock | 497,500 | ||||||
| Change in current assets and liabilities: | |||||||
| Accounts receivable | (2,199 | ) | |||||
| Inventory | 141,488 | ||||||
| Other assets | (104,021 | ) | |||||
| Accounts payable | (663,940 | ) | |||||
| Accrued expenses | 12,388 | ||||||
| Income tax payable | (118,338 | ) | |||||
| Net cash provided by operating activities | 1,484,343 | ||||||
| INVESTING ACTIVITIES: | |||||||
| Payment for furniture and equipment | (2,058,410 | ) | |||||
| Net cash used in investing activities | (2,058,410 | ) | |||||
| FINANCING ACTIVITIES: | |||||||
| Proceeds from note payable, net | 114,298 | ||||||
| Repayment of note payable - related party | (212,295 | ) | |||||
| Net proceeds (borrowing) under line of credit | 79,166 | ||||||
| Purchase of treasury stock | (6,438 | ) | |||||
| Net cash used in financing activities | (25,269 | ) | |||||
| NET DECREASE IN CASH | (599,336 | ) | |||||
| CASH, BEGINNING BALANCE | 676,368 | ||||||
| CASH, ENDING BALANCE | $ | 77,032 | |||||
| CASH PAID FOR: | |||||||
| Interest | $ | 69,630 | |||||
| SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES: | |||||||
| Common stock issued for the settlement of accounts payable | $ | 30,000 | |||||
| Common stock issued for the settlement of notes party - related party | $ | 50,000 | |||||
Investor and Media Relations McCloud Communications, LLC Marty Tullio Managing Member Office: 949.632.1900 Email Contact
