DGAP-News: Ameramex International: AmeraMex International Reports Revenue of $24.7 million for the Year Ended December 31, 2021

DGAP-News: Ameramex International
AmeraMex International Reports Revenue of $24.7 million for the Year Ended December 31, 2021

31.03.2022 / 14:15
The issuer is solely responsible for the content of this announcement.

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AmeraMex International, Inc. (OTC:AMMX), a provider of heavy equipment for logistics companies, infrastructure construction, and forestry conservation, reported financial results for its year ended December 31, 2021.

AmeraMex CEO Lee Hamre commented, 'Last year was an excellent year for AmeraMex. Over the course of the last twelve months, we have enjoyed significant revenue growth and a much-improved bottom line. The new policies and procedures have not only increased our profitability but have allowed us to eliminate debt and clean-up our balance sheet.

'We are just tying up the first quarter and have reported sales of approximately $6.8 million. It is important to note that sales do not convert into revenue until the equipment is shipped to the customer. We expect to announce first quarter results for the quarter ended March 31, 2022 by mid-May if not before. We are off to a good start and expect to report another outstanding year.'

Statement of Operations for the Year Ended December 31, 2021

The company reported revenue of approximately $24.7 million, a 101 percent increase when compared to revenue of approximately $12.3 million for the year ended December 31, 2020. The first six months of revenue for 2020 was adversely affected by the COVID pandemic. Sales increased significantly during the last six months of 2020.

Gross profit for the year was $5 million, a significant increase when compared to gross profit of $1.8 million for the 2020 year-end. Gross profit margins for 2021 were affected by a $4.5 million shipment of new equipment carrying three percent margins. Sales of new equipment are important to the Company as the customer's replacement equipment can be purchased inexpensively and refurbished for resale to other customers. Refurbished equipment carries much higher profit margins.

Gross profit as a percentage of sales, was 20 percent for the year compared to gross profit as a percentage of sales of 14 percent to the 2020 year-end, a 30 percent increase.

The Company reported net profit from operations of $3.2 million for the year, a substantial increase when compared to net loss from operations of $(.059) million for the comparable 2020 year-end.

Net income for the year was $1.6 million compared to net loss of ($.583) million for the comparable 2020 year-end. Earnings per share were $0.11 compared to a loss per share of ($0.04).

Balance Sheet for the Year Ended December 31, 2020

Total Assets were reduced $1.7 million but cash was up approximately $0.600 million. The reduction in assets was due in part to the reduction of equipment in the rental pool and other inventory items. Total liabilities for the period have decreased $3.6 million as the lines of credit were paid down approximately $2.5 million and Notes Payable (net of current portion) were reduced approximately $0.500 million.

Conference Call

AmeraMex International, Inc. CEO Lee Hamre is hosting the Company's year-end 2021 financial conference call on Thursday, March 31, 2022 at 8:30 a.m. Pacific Time, 11:30 a.m. Eastern Time. Hamre commented, 'I hope all shareholders will join us as we will be discussing the best year in the history of the company. We are off to a good start and look forward to another history-breaking year.'

The conference call dial-in number for both U.S. and international callers is 1.201.689.8560. Please dial into 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 March 31, 2022 at 2:30 p.m. Eastern Time until April 14, 2022 at 11:59 p.m. Eastern Time. The replay is accessible by dialing 1.412.317.6671 and entering pin number 13727852.

AMERAMEX INTERNATIONAL, INC.
STATEMENTS OF OPERATIONS
			DECEMBER 31, 2021			DECEMBER 31, 2020
REVENUES
Sales of Equipment and Other Revenues		$ 22,253,695			$ 9,665,607
Rentals and Leases			2,468,143			2,613,513
Total Sales			24,721,838			12,279,120
COST OF SALES
Sales of Equipment and Other Revenues			18,878,245			9,566,702
Rentals and Leases			815,830			942,954
Total Cost of Sales			19,694,075			10,509,656
GROSS PROFIT			5,027,763			1,769,464
OPERATING EXPENSES
Selling Expense			834,633			454,806
Legal Settlement			-			428,700
General and Administrative			1,029,164			944,567
Total Operating Expenses			1,863,797			1,828,073
Profit (loss) From Operations			3,163,966			(58,609)
OTHER INCOME (EXPENSE)
Interest Expense, net			(943,442)			(1,047,330)
Loss from Early Extinguishment of Debt			(110,551)			(90,925)
Other Income (Expense)			268,489			222,517
Total Other Income (Expense)			(785,504)			(915,738)
INCOME BEFORE PROVISION for INCOME TAXES			2,378,462			(974,347)
PROVISION (BENEFIT) for INCOME TAXES			746,917			(391,657)
NET INCOME (LOSS)		$ 1,631,545			$ (582,690)
Weighted Average Shares Outstanding:
Basic			14,629,155			14,549,155
Diluted			14,629,155			14,549,155
Earnings (loss) per Share
Basic		$ 0.11			$ -0.04
Diluted		$ 0.11			$ -0.04

AMERAMEX INTERNATIONAL, INC.
BALANCE SHEETS
			DECEMBER 31, 2021		DECEMBER 31, 2020
ASSETS
Current Assets:
Cash		$ 995,611			$ 407,881
Accounts Receivable, Net			1,162,300		768,371
Inventory, Net			5,185,864		5,873,569
Other Current Assets			312,963		198,531
Total Current Assets			7,656,738		7,248,352
Non-Current Assets:
Property and Equipment, Net			1,275,717		1,035,840
Rental Equipment, Net			1,461,716		3,624,376
Deferred Tax Assets, Net			-		158,124
Other Assets			391,330		453,410
Total Long-Term Assets			3,128,763		5,271,750
TOTAL ASSETS		$ 10,785,501			$ 12,520,102
LIABILITIES & STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts Payable		$ 560,076			$ 620,200
Accrued Expenses			264,534		231,329
Deferred Revenue			302,000		-
Joint Venture Liability			142,500		439,500
Lines of Credit			3,180,967		5,749,801
Notes Payable, Current Portion			777,602		911,265
Convertible Notes			-		150,683
Total Current Liabilities			5,227,679		8,102,778
Long-Term Liabilities
Deferred Tax Liabilities, Net			588,792		-
Notes Payable - Related Party			-		226,659
Notes Payable, Net of Current Portion			1,689,353		2,597,935
Total Long-Term Liabilities			2,278,145		2,824,594
TOTAL LIABILITIES		$ 7,505,824			$ 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 14,629,155 shares issued and outstanding at December 31, 2021 and 14,549,155 at December 31, 2020			14,629		14,549
Additional Paid-In Capital			21,600,734		21,545,614
Accumulated Deficit			(18,335,686)		(19,967,433)
Total Stockholders' Equity			3,279,677		1,592,730
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY		$ 10,785,501			$ 12,520,102

AMERAMEX INTERNATIONAL, INC.
STATEMENTS OF CASH FLOW
		DECEMBER 31, 2021			DECEMBER 31, 2020
OPERATING ACTIVITIES:
Net Profit (Loss)	$ 1,631,545			$ (582,690)
Adjustments to reconcile Net Loss to
Net Cash provided (used) by Operations Activities:
Depreciation and Amortization		916,325			1,310,018
Provision (Benefit) for Deferred Income Taxes		588,792			(384,467)
Marketing Services Paid in Stock		46,400			25,660
Forgiveness of Debt		(254,147)			(218,442)
Loss on Legal Settlement		-			428,700
Loss on Early Extinguishment of Debt		110,551			90,925
Amortization and Accretion of Interest		126,968			-
Change in Assets and Liabilities:
Accounts Receivable		(393,929)			(178,661)
Inventory		2,850,567			(1,031,615)
Other Current Assets		(114,432)			44,568
Accounts Payable		(60,124)			88,394
Deferred Revenue		302,000			-
Accrued Expenses		33,205			151,542
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES	$ 5,783,721			$ (256,068)
INVESTING ACTIVITIES:
Payments for Property & Equipment	$ (513,798)			$ (141,998)
Proceeds (Payments) for Rental Equipment		(724,070)			(611,830)
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES	$ (1,237,868)			$ (753,828)
FINANCING ACTIVITIES:
Proceeds from Notes Payable	$ 2,503,698			$ 4,594,871
Payments on Notes Payable		(3,369,329)			(2,191,602)
Payment on Note Payable - Related Party		(226,659)			(108,135)
Joint Venture Liability		(297,000)			(20,000)
Net Borrowing Under Lines of Credit		(2,568,833)			(971,861)
NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES	$ (3,958,123)			$ 1,303,273
NET INCREASE IN CASH & CASH EQUIVALENTS	$ 587,730			$ 293,377
Cash and Cash Equivalents, BEGINNING OF PERIOD	$ 407,881			$ 114,504
Cash and Cash Equivalents, END OF PERIOD	$ 995,611			$ 407,881
CASH PAID FOR:
Interest	$ 774,074			$ 907,534
Income Taxes	$ 800			$ 800
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING
AND FINANCING ACTIVITIES:
Transfer of Inventory to Rental Equipment		508,000			-
Equipment Financed under Capital Leases		168,061			225,859
Transfer of Rental Equipment to Inventory		964,600			526,417

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 key 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 added information becomes available in the future.

Contact Details

Marty Tullio

[phone]

[e-mail]

Company Website

https://www.ammx.net

News Source: News Direct

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31.03.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language:	English
Company:	Ameramex International
	United States
ISIN:	US02356P2092
EQS News ID:	1317033

End of News	DGAP News Service

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1317033 31.03.2022