Home Hamre Equipment About Us Press Releases Investor Relations Contact Us Press Releases View List Print AmeraMex International Reports Revenue of $8.2 Million for the Third Quarter and $18.5 Million For the Nine-month Period Nov 15, 2021 | AMMX News Shareholder Conference Call, Monday , November 15 at 9:00 a.m. Pacific CHICO, CA / November 15, 2021 / AmeraMex International, Inc. (OTCQB:AMMX), a provider of heavy equipment for logistics companies, infrastructure construction, and forestry conservation, reported financial results for its third quarter and nine-month period ended September 30, 2021. Lee Hamre commented, “Overall, we are pleased with our revenue growth and profitability when compared to the nine-month period of 2020. Our goal is to continue top-line growth while improving our bottom line through product mix, profit margins and cost-cutting measures. Additionally, our prices are increasing to reflect rising inflation. “This quarter, $4.5 million of new equipment shipped from an order of new Taylor equipment generated in 2020. This new equipment carries margins of approximately three percent but allows us to purchase the old equipment, refurbish it and sell for margins in excess of 25 percent. Without this relationship, it would be more difficult, as well as more expensive, to purchase the used equipment that we need for resale.” Statement of Operations for the Third Quarter Ended September 30, 2021 The company reported revenue of approximately $8.2 million, a 72 percent increase when compared to revenue of approximately $5.9 million for the third quarter of 2020. Gross profit for the quarter was $.815 million, a 10 percent increase when compared to gross profit of $.809 million for the third quarter of 2020. Gross profit margins were significantly affected by a $4.5 million shipment of new equipment carrying three percent margins. The Company reported net profit from operations of $.343 million for the quarter, a significant increase when compared to a net profit from operations of $.019 million for the comparable 2020 quarter. Net income for the quarter was $.083 million compared to net loss of ($.083) million for the comparable 2020 quarter. Statement of Operations for the Nine-Month Period Ended September 30, 2021 Revenue for the nine-month period was approximately $18.5 million an increase of 49 percent when compared to revenue of $9.1 million for the 2020 nine-month period. Gross profit for the nine-month period was $3.0 million, an increase of 57 percent when compared to gross profit of $1.7 million for the 2020 nine-month period. Gross profit margins were 16 percent compared to gross profit margins of 18 percent for the comparable period. Gross profit margins were significantly affected by a $4.5 million shipment of new equipment carrying three percent margins in the third quarter. The Company reported profit from operations of $1.6 million for the period, a significant increase when compared to profit from operations of $.197 million for the 2020 period. Net profit for the nine-month period was approximately $.527 million, compared to net loss of approximately ($.408 )million for the 2020 period. Balance Sheet for the Nine-Month Period Ended September 30, 2020 Assets were down $700,000 as recently returned rental equipment was sold and receivables tightened up. Cash balance increased $500,000 for the period. Total liabilities for the period have decreased as the lines of credit were paid down $1.5 million and Notes Payable (net of current portion) were reduced $500,000. Conference Call AmeraMex International, Inc. CEO Lee Hamre is hosting the Company’s third quarter financial conference call Monday, November 15, 2021 at 9:00 a.m. Pacific Time, 12:00 p.m. Eastern Time. The conference call dial-in number for both U.S. and international callers is 1.412.317.6026. Please dial in to the conference center five minutes before the call begins and ask the operator for the AmeraMex conference call. An audio replay of the call will be available from November 15, 2021 at 3:00 p.m. Eastern Time until November 29, 2021 at 11:59 p.m. Eastern Time. The replay is accessible by dialing 1.412.317.6671 and entering pin number 1016190 AmeraMex International AmeraMex International sells, leases, and rents heavy equipment to companies within multiple industries including construction, logistics, mining, and lumber. The company 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. Forward-Looking Statement Statements made in this news release that are not historical or current facts are “forward-looking statements” made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (the “Act”) and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified using terms such as “may,” “expect,” “believe,” “anticipate,” “estimate,” “approximate” or “continue,” or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management’s best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and key factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events. Investor and Media Relations McCloud Communications, LLC Marty Tullio, Managing Member Office: 949.632.1900 or Marty@McCloudCommunications.com AMERAMEX INTERNATIONAL, INC. UNAUDITED STATEMENTS OF OPERATIONS THREE MONTHS ENDED SEPTEMBER 30, NINE MONTHS ENDED SEPTEMBER 30, 2021 2020 2021 2020 REVENUES Sales of Equipment and Other Revenues $ 7,591,527 $ 5,168,949 47 % 16,494,253 $ 7,106,628 Rentals and Leases 588,746 711,463 -17 % 2,015,667 1,994,938 Total Sales 8,180,273 5,880,412 39 % 18,509,920 9,101,566 COST OF SALES Sales of Equipment and Other Revenues 7,169,018 4,824,488 14,922,284 6,673,745 Rentals and Leases 195,994 247,398 630,240 744,796 Total Cost of Sales 7,365,012 5,071,886 45 % 15,552,524 7,418,541 GROSS PROFIT 815,261 808,526 2,957,396 1,683,025 OPERATING EXPENSES Selling Expense 203,100 136,591 627,021 284,591 Legal Settlement – 428,700 – 428,700 General and Administrative 269,029 223,980 743,259 772,365 Total Operating Expenses 472,129 789,271 1,370,280 1,485,656 Profit (loss) From Operations 343,132 19,255 1,587,116 197,369 OTHER INCOME (EXPENSE) Interest Expense, net (208,967 ) (260,989 ) (743,999 ) (887,522 ) Loss from Early Extinguishment of Debt (20,373 ) – (110,551 ) – Other Income (Expense) 3,500 – 14,342 (1,648 ) Total Other Income (Expense) (225,840 ) (260,989 ) (840,208 ) (889,170 ) INCOME BEFORE PROVISION for INCOME TAXES 117,292 (241,734 ) 746,908 (691,801 ) PROVISION (BENEFIT) for INCOME TAXES 34,601 (158,590 ) 220,338 (183,332 ) NET INCOME (LOSS) $ 82,691 $ (83,144 ) $ 526,570 $ (508,469 ) Weighted Average Shares Outstanding: Basic 14,629,155 15,068,318 14,629,155 15,068,318 Diluted 14,629,155 15,068,318 14,629,155 15,068,318 Earnings (loss) per Share Basic $ 0.01 $ -0.01 $ 0.04 $ -0.03 Diluted $ 0.01 $ -0.01 $ 0.04 $ -0.03 AMERAMEX INTERNATIONAL, INC. UNAUDITED BALANCE SHEETS September 30, 2021 DECEMBER 31, 2020 ASSETS Current Assets: Cash $ 924,162 $ 407,881 Accounts Receivable, Net 1,403,658 768,371 Inventory, Net 6,007,450 5,873,569 Other Current Assets 227,624 198,531 Total Current Assets 8,562,894 7,248,352 Property and Equipment, Net 986,922 1,035,840 Rental Equipment, Net 1,868,863 3,624,376 Deferred Tax Assets, Net – 158,124 Other Assets 400,797 453,410 Total Other Assets 3,256,582 5,271,750 TOTAL ASSETS $ 11,819,476 $ 12,520,102 LIABILITIES & STOCKHOLDERS’ EQUITY Current Liabilities: Accounts Payable $ 1,995,644 $ 620,200 Accrued Expenses 254,918 231,329 Joint Venture Liability 210,000 439,500 Lines of Credit 4,268,938 5,749,801 Notes Payable, Current Portion 781,190 911,265 Convertible Notes – 150,683 Total Current Liabilities 7,510,690 8,102,778 Long-Term Liabilities Deferred Tax Liabilities, Net 62,214 – Notes Payable – Related Party 652 226,659 Notes Payable, Net of Current Portion 2,071,420 2,597,935 Total Long-Term Liabilities 2,134,286 2,824,594 TOTAL LIABILITIES 9,644,976 10,927,372 Commitments and Contingencies (Note 11) – – STOCKHOLDERS’ EQUITY: Shareholders’ Equity Preferred Stock, $0.001 par value, 5,000,000 shares authorized, no – – shares issued and outstanding Common Stock, $0.001 par value, 1,000,000,000 shares authorized 14,629 14,549 14,629,155 shares issued and outstanding at September 30, 2021 14,548,851 at December 31, 2020 Additional Paid-In Capital 21,600,734 21,545,614 Accumulated Deficit (19,440,863 ) (19,967,433 ) Total Stockholders’ Equity 2,174,500 1,592,730 TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY $ 11,819,476 $ 12,520,102 AMERAMEX INTERNATIONAL, INC. UNAUDITED STATEMENTS OF CASH FLOW NINE MONTHS ENDED SEPTEMBER 30, 2021 2020 OPERATING ACTIVITIES: Net Profit (Loss) 526,570 (567,919 ) Adjustments to reconcile Net Loss to Net Cash provided (used) by Operations Activities: Depreciation and Amortization 725,711 676,983 Provision (Benefit) for Deferred Income Taxes 62,214 (204,761 ) Marketing Services Paid in Stock 46,400 – Loss on Early Extinguishment of Debt 110,551 – Amortization and Accretion of Interest 106,552 – Change in Assets and Liabilities: Accounts Receivable (635,287 ) (385,333 ) Inventory 1,476,799 (2,553,432 ) Other Current Assets (29,093 ) (27,531 ) Accounts Payable 1,375,444 201,626 Accrued Expenses 23,589 492,674 NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES 3,789,450 (2,367,693 ) INVESTING ACTIVITIES: Payments for Property & Equipment (156,501 ) (135,025 ) Proceeds (Payments) for Rental Equipment (436,709 ) 167,490 NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES (593,210 ) 32,465 FINANCING ACTIVITIES: Proceeds from Notes Payable 2,081,198 3,840,481 Payments on Notes Payable (2,824,788 ) (391,300 ) Payment on Note Payable – Related Party (226,007 ) (19,672 ) Joint Venture Liability (229,500 ) (17,500 ) Net Borrowing Under Lines of Credit (1,480,862 ) (980,546 ) NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES (2,679,959 ) 2,431,463 NET INCREASE IN CASH & CASH EQUIVALENTS 516,281 96,235 Cash and Cash Equivalents, BEGINNING OF PERIOD 407,881 114,504 Cash and Cash Equivalents, END OF PERIOD 924,162 210,739 CASH PAID FOR: Interest 599,030 887,522 Income Taxes – – SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: Transfer of Inventory to Rental Equipment 508,000 – Equipment Financed under Capital Leases 178,027 239,709 Transfer of Rental Equipment to Inventory 964,600 227,279 AMERAMEX INTERNATIONAL, INC. UNAUDITED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT) FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2021 AND 2020 Total Additional Stockholders’ Common Stock Paid-in Treasury Accumulated Equity/ Balance Shares Amount Capital Stock Deficit (Deficit) 12/31/2019 15,068,318 $ 15,068 $ 21,519,435 $ – $ (19,384,743 ) $ 2,149,760 Net Loss (508,469 ) (508,469 ) 9/30/2020 15,068,318 $ 15,068 $ 21,519,435 $ – $ (19,893,212 ) $ 1,641,291 12/31/2020 14,549,155 $ 14,549 $ 21,545,614 $ – $ (19,967,433 ) $ 1,592,730 Stock for Services 80,000 80 55,120 55,200 Net Income – – – – 526,570 526,570 9/30/2021 14,629,155 $ 14,629 $ 21,600,734 $ – $ (19,440,863 ) $ 2,174,500 14,629,155 14,629 21,600,734 – (19,440,863 ) 2,174,500 SOURCE: AmeraMex International Inc View source version on accesswire.com: https://www.accesswire.com/672784/AmeraMex-International-Reports-Revenue-of-82-Million-for-the-Third-Quarter-and-185-Million-For-the-Nine-month-Period RECENT NEWS AmeraMex International Announces Equipment Orders Totaling Approximately $ 1.9 Million Nov 16, 2021 AmeraMex International Hosts 2021 Third Quarter Conference Call Nov 5, 2021 AmeraMex International Announces Equipment Orders Totaling Approximately $ 1.0 Million Nov 2, 2021 Subscribe to email alerts ABOUT AMMX AmeraMex International, Inc. was incorporated on May 29, 1990 in Nevada and began trading on the OCTQB July 2019. The Company is a provider of new and refurbished heavy equipment to logistics companies, infrastructure construction, logging companies, US Military, and forestry conservation organizations—both nationally and internationally. AmeraMex International 3930 Esplanade Chico, CA 95973 Tel: 530.895.8955