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AmeraMex International Reports Revenue for Second Quarter and Six-Month Period Ended June 30, 2021

Revenue for six-month period exceeds $10.3 million

CHICO, CA / ACCESSWIRE / August 13, 2021 / AmeraMex International, Inc. (OTCQB:AMMX), a provider of heavy equipment for logistics companies , infrastructure construction , and forestry conservation , reports revenue for its second quarter and six-month period ending June 30, 2021.

AmeraMex is reporting a significant increase in revenue for the second quarter and six-month period of 2021. It is important to remember that the Company's revenue for the comparative periods in 2020, was negatively affected by COVID-19 restraints. There was a substantial turnaround in revenue for the third and fourth quarters of 2020 finishing the years with revenue of $12.3 million

Second Quarter Ended June 30, 2021

The company reported revenue of $6.3 million compared to revenue of $1.8 million for the second quarter of 2020.

Gross profit for the quarter was $.970 million compared to gross profit of $.430 million for the second quarter of 2020. Gross profit as a percentage of revenue was 15 percent compared to 24 percent for the second quarter of 2020.

The net income for the quarter was $.078 million compared to net loss of $(.440) million for the second quarter of 2020.

Six-Month Period Ended June 30, 2021

Revenue for the six-month period was $10.3 million, a 222 percent increase when compared to revenue of $3.2 million reported for the comparable six-month period of 2020.

Gross profit for the six-month period was $2.1 million compared to gross profit of $.874 million for the six-month period of 2020. Gross profit as a percentage of revenue was 21 percent for the six-month period compared to 27 percent for the six-month period of 2020.

The net incom e for the six-month period was $.444 million compared to a net loss of $(.568) million reported for the comparable six-month period of 2020.

As a reminder, the public is invited to participate in the Company's second quarter conference call at 11:00 a.m. PT, 2:00 p.m. ET. The conference call dial-in number for both U.S. and international callers is 1.201.689.8560. 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 August 13, 2021 at 5:00 p.m. ET until August 27, 2021 at 11:59 p.m. ET. The replay is accessible by dialing 1.412.317.6671 and entering pin number 13722155.

About AmeraMex International

AmeraMex International sells, leases and rents heavy equipment to companies within multiple industries including construction, logistics, mining, and lumber. 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.

Forward-Looking Statements

This press release contains forward-looking statements. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as 'believe,' 'expect,' 'anticipate,' 'plan,' 'potential,' 'continue' or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Investors are encouraged to review the Company's filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. 

Investor and Media Relations 
McCloud Communications, LLC
Marty Tullio, Managing Member 
Office: 949.632.1900 or Marty@McCloudCommunications.com

Tables follow:

AMERAMEX INTERNATIONAL, INC. 
UNAUDITED STATEMENTS OF OPERATIONS

  
 
 THREE MONTHS ENDED JUNE 30,  SIX MONTHS ENDED JUNE 30, 
 
 2021  2020  2021  2020 
 
            
REVENUES
            
Sales of Equipment and Other Revenues
 $5,656,744  $1,025,364  $8,902,726  $1,937,679 
Rentals and Leases
  643,207   757,321   1,426,921   1,283,475 
Total Sales
  6,299,951   1,782,685   10,329,647   3,221,154 
 
                
COST OF SALES
                
Sales of Equipment and Other Revenues
  5,140,234   1,103,305   7,753,266   1,849,257 
Rentals and Leases
  189,290   249,092   434,246   497,398 
Total Operating Expenses
  5,329,524   1,352,397   8,187,512   2,346,655 
 
                
GROSS PROFIT
  970,427   430,288   2,142,135   874,499 
 
                
OPERATING EXPENSES
                
Selling Expense
  284,732   59,167   423,921   148,000 
General and Administrative
  229,927   708,562   474,230   977,085 
Total Operating Expenses
  514,659   767,729   898,151   1,125,085 
 
                
Profit (loss) From Operations
  455,768   (337,441)  1,243,984   (250,586)
 
                
OTHER INCOME (EXPENSE)
                
Interest Expense, net
  (267,975)  (260,989)  (535,032)  (520,797)
Loss from Early Extinguishment of Debt
  (77,845)  -   (90,178)  - 
Other Income (Expense)
  764   -   10,842   (1,302)
Total Other Income (Expense)
  (345,056)  (260,989)  (614,368)  (522,099)
 
                
INCOME BEFORE PROVISION for INCOME TAXES
  110,712   (598,430)  629,616   (772,685)
 
                
PROVISION (BENEFIT) for INCOME TAXES
  32,662   (158,590)  185,737   (204,766)
 
                
NET INCOME (LOSS)
 $78,050  $(439,840) $443,879  $(567,919)
 
                
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  $-0.03  $0.03  $-0.04 
Diluted
 $0.01  $-0.03  $0.03  $-0.04 

AMERAMEX INTERNATIONAL, INC. 
UNAUDITED BALANCE SHEETS

 
      
 
 JUNE 30, 2021  DECEMBER 31, 2020 
ASSETS
      
Current Assets:
      
Cash
 $450,944  $407,881 
Accounts Receivable, Net
  1,349,615   768,371 
Inventory, Net
  6,126,283   5,873,569 
Other Current Assets
  226,456   198,531 
Total Current Assets
  8,153,298   7,248,352 
 
        
Property and Equipment, Net
  1,049,776   1,035,840 
Rental Equipment, Net
  2,013,696   3,624,376 
Deferred Tax Assets, Net
  -   158,124 
Other Assets
  414,619   453,410 
Total Other Assets
  3,478,091   5,271,750 
 
        
TOTAL ASSETS
 $11,631,389  $12,520,102 
 
        
LIABILITIES & STOCKHOLDERS' EQUITY
        
Current Liabilities:
        
Accounts Payable
 $980,458  $620,200 
Accrued Expenses
  481,320   231,329 
Joint Venture Liability
  370,000   439,500 
Lines of Credit
  4,437,957   5,749,801 
Notes Payable, Current Portion
  739,109   911,265 
Convertible Notes
  226,802   150,683 
Total Current Liabilities
  7,235,646   8,102,778 
 
        
Long-Term Liabilities
        
Deferred Tax Liability
  27,613   - 
Notes Payable - Related Party
  202,751   226,659 
Notes Payable, net of Current Portion
  2,073,570   2,597,935 
Total Long-Term Liabilities
  2,303,934   2,824,594 
 
        
TOTAL LIABILITIES
  9,539,580   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 June 30, 2021 and
        
14,548,851 at December 31, 2020
        
Additional Paid-In Capital
  21,600,734   21,545,614 
Accumulated Deficit
  (19,523,554)  (19,967,433)
Total Stockholders' Equity (Deficit)
  2,091,809   1,592,730 
 
        
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY
 $11,631,389  $12,520,102 

AMERAMEX INTERNATIONAL, INC. 
UNAUDITED STATEMENTS OF CASH FLOW

 
      
 
 SIX MONTHS ENDED JUNE 30, 
 
 2021  2020 
 
      
OPERATING ACTIVITIES:
      
Net Profit (Loss)
  443,879   (567,919)
Adjustments to reconcile Net Loss to
        
Net Cash provided by Operations Activities:
        
Depreciation and Amortization
  518,025   676,983 
Provision (Benefit) for Deferred Income Taxes
  27,613   (204,761)
Marketing Services Paid in Stock
  46,400   - 
Loss on Early Extinguishment of Debt
  90,178   - 
Change in Assets and Liabilities:
        
Accounts Receivable
  (581,244)  (385,333)
Inventory
  1,357,966   (2,553,432)
Other Current Assets
  (27,925)  (27,531)
Accounts Payable
  360,258   201,626 
Accrued Expenses
  249,991   492,674 
NET CASH PROVIDED BY OPERATING ACTIVITIES
  2,485,141   (2,367,693)
 
        
INVESTING ACTIVITIES:
        
Payments for Property & Equipment
  (156,502)  (135,025)
Payments for Rental Equipment
  (416,292)  167,490 
NET CASH PROVIDED BY INVESTING ACTIVITIES
  (572,794)  32,465 
 
        
FINANCING ACTIVITIES:
        
Proceeds from Notes Payable
  2,072,205   3,840,481 
Payments on Notes Payable
  (2,536,238)  (391,300)
Payment on Note Payable - Related Party
  (23,908)  (19,672)
Joint Venture Liability
  (69,500)  (17,500)
Net Borrowing Under Lines of Credit
  (1,311,843)  (980,546)
NET CASH PROVIDED BY FINANCING ACTIVITIES
  (1,869,284)  2,431,463 
 
        
NET INCREASE (DECREASE) IN CASH & CASH EQUIVALENTS
  43,063   96,235 
 
        
Cash and Cash Equivalents, BEGINNING OF PERIOD
  407,881   114,504 
Cash and Cash Equivalents, END OF PERIOD
  450,944   210,739 
 
        
CASH PAID FOR:
        
Interest
  513,108   520,797 
Income Taxes
  -   - 
 
        
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING
        
AND FINANCING ACTIVITIES:
        
Transfer of Inventory to Rental Equipment
  508,000   - 
Equipment Financed under Capital Leases
  187,732   239,709 
Transfer of Rental Equipment to Inventory
  964,600   227,279 

AMERAMEX INTERNATIONAL, INC.
UNAUDITED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT)
FOR THE SIX MONTHS ENDED JUNE 30, 2021 AND 2020

 
 
                
 
                
 
       Additional        
 
 Common Stock  Paid-in  Treasury  Accumulated  
Balance
 Shares  Amount  Capital  Stock  Deficit  
 
                
12/31/2020
  15,068,318  $15,068  $21,519,435  $-  $(19,384,743) 
 
                     
Net Loss
                  (567,919) 
 
                     
6/30/2020
  15,068,318  $15,068  $21,519,435  $-  $(19,952,662) 
 
                     
12/31/2020
  14,549,155  $14,549  $21,545,614  $-  $(19,967,433) 
 
                     
Stock for Services
  80,000   80   55,120          
 
                     
Net Income
  -   -   -   -   443,879  
 
                     
6/30/2020
  14,629,155  $14,629  $21,600,734  $-  $(19,523,554) 
 
  14,629,155   14,629   21,600,734   -   (19,523,554) 

SOURCE: AmeraMex International Inc



View source version on accesswire.com:
https://www.accesswire.com/658858/AmeraMex-International-Reports-Revenue-for-Second-Quarter-and-Six-Month-Period-Ended-June-30-2021

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