AmeraMex International Inc.: AmeraMex International Announces 65 Percent Increase in Revenue for the Second Quarter and 29 Percent Increase in Revenue for the Six-Month Period Ended June 30, 2023

Chico, California--(Newsfile Corp. - August 16, 2024) - AmeraMex International, Inc. (OTC Pink: AMMX), a provider of heavy equipment for logistics companies, infrastructure construction, and forestry conservation, reported financial results for its second quarter and six-month period ended June 30, 2023.

Statement of Operations for the Second Quarter Ended June 30, 2024

The Company reported revenue of approximately $3.8 million versus revenue of $2.3 million for the comparable 2023 quarter. Revenue increased approximately 65 percent over the comparable quarter of 2023.

Gross profit for the quarter was $2.6 million, a significant increase when compared to a gross profit of $713,302 for the comparable 2023 quarter. Profit is affected by sales versus leases/rentals of equipment and mix of equipment.

Gross profit as a percentage of sales was 68 percent for the quarter compared to gross profit as a percentage of sales of 31 percent for the comparable 2023 quarter. The significant increase in profit margins is due in part to product mix.

Profit from operations was $2.0 million compared to a loss of ($102,577) for the comparable 2023 quarter.

Net income for the quarter was $1.0 million compared to a net loss of ($116,602) for the comparable 2023 quarter.Earnings per share were $0.07 for the quarter compared to a loss per share of ($0.01) for the comparable 2023 quarter. This is due in part to a decrease in both interest and selling expenses.

Statement of Operations for the Six-Month period June 30, 2024

The company reported revenue for the six-month period of $7.1 million versus revenue of $5.1 million for the comparable 2023 six-month period. This is a 29 percent increase.

Gross profit for the period increased 60 percent to $2.4 million when compared to gross profit of $1.5 million for the comparable 2023 period.

Gross profit as a percentage of sales was 34 percent for the period compared to gross profit as a percentage of sales of 27 percent for the comparable 2023 period.

Profit from operations was $1.5 million compared to $240,200 for the comparable 2023 six-month period.

Net income for the period was $587,989 compared to net loss of ($15,499) for the comparable period.Earnings per share were $0.04 for the period compared to $0.00 for the comparable 2023 period.

Balance Sheet for the Period Ended June 30, 2024

Current Assets increased by approximately $1.1 million to approximately $14.7 million while Total Assets increased by approximately $4.0 million due in part to a $3.6 million increase in rental equipment.

Current Liabilities for the period have decreased by approximately $1.0 million while Total Liabilities increased by $3.5 million due in part to the Company's Notes Payable.

Shareholders and the public are invited to participate in a conference call on Friday, August 16, 2024, at 9:00 a.m. PT as the Company provides a shareholder update for the quarter and six-month period ended June 30, 2024. Please access the call by dialing 1.201.689.8560 five minutes before the call is to begin. A replay of the call will be available approximately three hours after the completion of the call by dialing 412.317.6671 and using access I.D. of 13748314. The replay will be available until August 30, 2024, at 11:59 p.m. ET.

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 [e-mail]

Tables Follow

AMERAMEX INTERNATIONAL, INC.
UNAUDITED STATEMENTS OF OPERATIONS

	THREE MONTHS ENDED JUNE 30,							SIX MONTHS ENDED JUNE 30,
		2024			2023			2024			2023
REVENUES
Sales of Equipment and Other Revenues	$	3,302,873		$	1,952,034			6,120,450		$	4,960,066
Rentals and Leases		480,973			368,696			943,145			569,923
Total Sales		3,783,846			2,320,730			7,063,595			5,529,989
COST OF SALES
Sales of Equipment and Other Revenues		918,109			1,395,251			4,155,410			3,631,611
Rentals and Leases		290,736			212,177			481,452			366,768
Total Cost of Sales		1,208,845			1,607,428			4,636,862			3,998,379
GROSS PROFIT		2,575,001			713,302			2,426,733			1,531,610
OPERATING EXPENSES
Selling Expense		274,865			555,741			404,507			753,381
General and Administrative		285,944			260,138			554,787			538,029
Total Operating Expenses		560,809			815,879			959,294			1,291,410
Profit (loss) From Operations		2,014,192			(102,577	)		1,467,439			240,200
OTHER INCOME (EXPENSE)
Interest Expense, net		(532,351	)		(161,910	)		(699,539	)		(285,439	)
Loss from Early Extinguishment of Debt		-			(39,090	)		-			(39,090	)
Other Income (Expense)		8,599			139,197			107,972			62,347
Total Other Income (Expense)		(523,752	)		(61,803	)		(591,567	)		(262,182	)
INCOME BEFORE PROVISION for INCOME TAXES		1,490,440			(164,380	)		875,872			(21,982	)
PROVISION (BENEFIT) for INCOME TAXES		466,108			(47,778	)		287,883			(6,483	)
NET INCOME (LOSS)	$	1,024,332		$	(116,602	)	$	587,989		$	(15,499	)
Weighted Average Shares Outstanding:
Basic		14,112,988			14,112,988			14,112,988			14,112,988
Diluted		14,112,988			14,112,988			14,112,988			14,112,988
Earnings (loss) per Share
Basic	$	0.07		$	-0.01		$	0.04		$	0.00
Diluted	$	0.07		$	-0.01		$	0.04		$	0.00

AMERAMEX INTERNATIONAL, INC.
UNAUDITED BALANCE SHEETS

		JUNE 30, 2024				DECEMBER 31, 2023
ASSETS
Current Assets:
Cash	$	122,807			$	588,128
Accounts Receivable, Net		1,980,097				1,289,389
Inventory, Net		12,333,677				11,359,158
Other Current Assets		228,457				324,134
Total Current Assets		14,665,038				13,560,809
Non-Current Assets:
Property and Equipment, Net		865,767				1,702,163
Rental Equipment, Net		4,695,470				1,063,464
Lease Right of Use Assett - Operating		682,288				703,802
Lease Right of Use Assett - Financing		1,219,408				905,782
Deferred Tax Asset		243,640				486,386
Other Assets		237,720				207,172
Total Other Assets		7,944,293				5,068,769
TOTAL ASSETS	$	22,609,331			$	18,629,578
LIABILITIES & STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts Payable	$	1,906,882			$	2,214,439
Accrued Expenses		147,730				348,415
Deferred Revenue		1,913,653				2,136,400
Joint Venture Liability		-				105,000
Lines of Credit		5,089,678				5,891,119
Notes Payable, Current Portion		1,877,499				1,273,310
Lease Liability - Operating		129,081				129,081
Lease Liability - Financing		188,121				188,121
Total Current Liabilities		11,252,644				12,285,885
Long-Term Liabilities
Deferred Tax Liabilities, Net		950,450				-
Notes Payable, Net of Current Portion		4,225,137				713,391
Lease Liability - Operating, Net of Current Portion		553,207				574,721
Lease Liability - Financing, Net of Current Portion		1,031,287				1,046,964
Total Long-Term Liabilities		6,760,081				2,335,076
TOTAL LIABILITIES		18,012,725				14,620,961
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		14,112				14,112
14,112,988 shares issued and outstanding at June 30, 2024 and
14,112,988 at December 31, 2023
Additional Paid-In Capital		21,671,534				21,671,534
Accumulated Deficit		(17,089,040	)			(17,677,029	)
Total Stockholders' Equity		4,596,606				4,008,617
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY	$	22,609,331			$	18,629,578
		-				-

AMERAMEX INTERNATIONAL, INC.
UNAUDITED STATEMENTS OF CASH FLOW

	SIX MONTHS ENDED JUNE 30,
	2024				2023
OPERATING ACTIVITIES:
Net Income	587,989				(15,499	)
Adjustments to reconcile Net Loss to
Net Cash provided (used) by Operations Activities:
Depreciation and Amortization	668,108				479,645
Provision (Benefit) for Deferred Income Taxes	950,450				(76,963	)
Loss on Early Extinguishment of Debt	-				39,090
Amortization and Accretion of Interest	42,702				39,090
Change in Assets and Liabilities:
Accounts Receivable	(690,708	)			376,931
Inventory	(4,606,525	)			(2,564,070	)
Other Current Assets	333,208				150,960
Accounts Payable	(306,840	)			89,999
Deferred Revenue	(222,747	)			-
Accrued Expenses	(200,685	)			(146,816	)
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES	(3,445,048	)			(1,627,633	)
INVESTING ACTIVITIES:
Payments for Property & Equipment	642,568				(5,561	)
Proceeds (Payments) for Rental Equipment	(481,432	)			102,501
NET CASH USED BY INVESTING ACTIVITIES	161,136				96,940
FINANCING ACTIVITIES:
Proceeds from Notes Payable	4,407,398				593,060
Payments on Notes Payable	(657,033	)			(657,033	)
Payment on Note Payable - Related Party	-				276,859
Joint Venture Liability	(130,333	)			(227,503	)
Net Borrowing (Repayments) Under Lines of Credit	(801,441	)			698,088
NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES	2,818,591				683,471
NET INCREASE (DECREASE) IN CASH & CASH EQUIVALENTS	(465,321	)			(847,222	)
Cash and Cash Equivalents, BEGINNING OF PERIOD	588,128				1,032,209
Cash and Cash Equivalents, END OF PERIOD	122,807				184,987
CASH PAID FOR:
Interest	679,918				317,654
Income Taxes	800				800
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING
AND FINANCING ACTIVITIES:
Transfer of Inventory to Rental Equipment	-				-
Equipment Financed under Capital Leases	-				1,162,124
Transfer of Rental Equipment to Inventory	-				-

AMERAMEX INTERNATIONAL, INC.
UNAUDITED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT)
FOR THE SIX MONTHS ENDED JUNE 30, 2024 AND 2023

											Additional
			Common Stock								Paid-in				Accumulated
Balance			Shares				Amount				Capital				Deficit
December 31, 2022			14,629,155			$	14,629			$	21,600,734			$	(17,334,360	)
Net Income			0				200				70800				(15,499	)
June 30, 2023			14,629,155			$	14,829			$	21,671,534			$	(17,349,859	)
December 31, 2023			14,112,988			$	14,112			$	21,671,534			$	(17,677,029	)
Net Income			-				-				-				587,989
June 30, 2024			14,112,988			$	14,112			$	21,671,534			$	(17,089,040	)
			14,112,988				14,112				21,671,534				(17,089,040	)
			-				-				-				-

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SOURCE: AmeraMex International Inc.