Chico, CA – News Direct – Ameramex International
AmeraMex International, Inc. (OTC: AMMX), a logistics company, supplier of heavy equipment for infrastructure construction, and forest conservation, reported first quarter financial results ending March 31, 2022.
AmeraMex CEO Lee Hammer commented, “We are pleased with our first quarter results. Last year was a great first quarter as we experienced a significant increase due to the massive demand in the market. Our first quarter is historically our lowest quarter for the year because customers order the fourth quarter to take advantage of capital investment tax return-off before the end of the year.
Over the past five years, our first quarter revenue has grown from $ 2 million in 2018 to $ 4.9 million in 2022. Considering the decline in the first quarter of 2020 due to the impact of the epidemic, the company’s compounded annual growth rate over the last five years is 21. Percent. “
Statement of quarterly operations ending March 31, 2022
The company said Revenue Compared to when estimated at $ 4.9 million, a 23 percent increase Revenue About $ 4.0 million for the quarter ended March 31, 2021.
Full profit It was $ 1,249,069 for the quarter, an increase of seven percent compared to a total profit of $ 1,171,708 for the comparative quarter.
Total profit as a percentage of salesCompared to the quarterly sales, 29 percent was 25 percent for the quarter compared to total profit.
The high cost of sales significantly affects gross profit. For the three months ended March 31, 2022, sales costs were $ 3.7 million, a 30 percent increase from ন 2.9 million for the comparative 2021 quarter. The price of used equipment has been steadily rising since the beginning of 2021 and was significantly higher in the first quarter of 2022.
Another major contributor to this growth was the late payment of a customer for the sale of a joint venture machine which increased the cost of the product sold until the customer paid and then sent it to our JV partner. Once sent to our JV partner, costs will be deducted from our book. This decline will occur in the second quarter.
Net income The net income for the quarter was $ 258,317 compared to নেট 365,829 for the quarter. Operating expenses increased 81 percent in the three months ended March 31, 2022. This increase is due to the high cost of paying the company and spending on marketing to stay competitive in a highly volatile job market. Earnings per share It was $ 0.02 for the quarter compared to 20 0.03 for the 2021 quarter.
Quarterly balance sheet ending March 31, 2022
Current assets While an increase of 26 percent to $ 9.0 million Total assets The ে 1.5 million increase in inventory is due in part to an increase of 1.8 million.
Current liability Decreased for the period while 444,641 Total liability বৃদ্ধি 1.3 million increased partly due to the credit line.
As of March 31, 2022, the company’s working capital was approximately 4.2 million.
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AMERAMEX INTERNATIONAL, INC. |
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Operation statement |
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March 31, 2022 |
March 31, 2021 |
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Revenue |
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Equipment sales and other revenue |
3 |
4,575,692 |
3 |
3,245,982 |
|
|
Rent and lease |
365,914 |
783,714 |
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Total sales |
4,951,606 |
4,029,696 |
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Sales costs |
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Equipment sales and other revenue |
3,552,821 |
2,613,032 |
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Rent and lease |
149,716 |
244,956 |
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The total cost of sales |
3,702,537 |
2,857,988 |
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Full profit |
1,249,069 |
1,171,708 |
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Operating costs |
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Sales costs |
323,441 |
139,189 |
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General and administrative |
369,336 |
244,303 |
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Total operating costs |
692,777 |
363,492 |
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Profit from operation |
556,292 |
788,216 |
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Other Income (Expenditure) |
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Expenditure on interest, net |
(177,757) |
(267,057) |
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Loss from early repayment of debt |
(15,345) |
(12,333) |
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Other income |
554 |
10,078 |
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Total other costs |
(192,548) |
(269,312) |
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Income before income tax provision |
363,744 |
518,904 |
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Income tax provision |
105,427 |
153,075 |
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Net income |
3 |
258,317 |
3 |
365,829 |
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Weighted Average Shares Outstanding: |
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Basic |
14,629,155 |
14,549,155 |
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Mixed |
14,629,155 |
14,549,155 |
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Earnings per share (loss) |
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Basic |
3 |
0.02 |
3 |
0.03 |
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|
Mixed |
3 |
0.02 |
3 |
0.03 |
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AMERAMEX INTERNATIONAL, INC. |
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Balance sheet |
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March 31, 2022 |
December 31, 2021 |
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Resources |
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Current assets: |
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Cash |
3 |
625,489 |
3 |
995,611 |
|
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Account Acceptable, Net |
1,459,988 |
1,162,300 |
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Inventory, net |
6,7,73 |
5,165,64 |
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Other current assets |
239,200 |
312,963 |
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Total current assets |
9,002,540 |
6,758,736 |
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Non-current assets: |
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Property and equipment, net |
1,208,628 |
1,275,717 |
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Rental equipment, net |
1,193,078 |
1,461,716 |
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The right to use the leased property |
846,131 |
– |
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Other property |
367,991 |
391,330 |
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Total long-term assets |
3,617,828 |
3,128,763 |
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Total assets |
3 |
12,620,368 |
3 |
10,785,501 |
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Liability and equity of stockholders |
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Current Liability: |
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Accounts payable |
3 |
1,150,172 |
3 |
560,076 |
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Deposit cost |
233,036 |
264,534 |
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Liability for joint ventures |
248,043 |
302,000 |
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Line of credit |
2,462,101 |
142,500 |
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Notes payable, current part |
560,606 |
3,180,968 |
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Lease liability |
129,081 |
777,602 |
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Total current liability |
4,63,039 |
5,227,680 |
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Long term liability |
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Delayed tax liability, net |
690,530 |
588,792 |
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Line of credit |
1,274,568 |
– |
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Notes payable – Concerned parties |
– |
– |
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Notes payable, current part net |
1,615,187 |
1,689,353 |
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Lease liability, current part net |
719,050 |
– |
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Total long-term liability |
4,299,335 |
2,278,145 |
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Total liability |
3 |
9,082,374 |
3 |
6,505,624 |
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Promises and Affiliations (Note 10) |
– |
– |
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Stockholder Equity: |
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Shareholder equity |
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Preferred stock, 0.001 equivalent, 5,000,000 shares approved, no shares issued and outstanding |
– |
– |
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Common stock, $ 0.001 equivalent, 1,000,000,000 shares authorized 14,629,155 shares issued and outstanding as on March 31, 2022 and 14,629,155 as on December 31, 2021 |
14,629 |
14,629 |
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Excess paid up capital |
21,600,734 |
21,600,734 |
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Accumulated deficit |
(18,077,369) |
(18,335,686) |
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Total stockholder equity |
3,537,994 |
3,279,677 |
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Total liability and equity of stockholders |
3 |
12,620,368 |
3 |
10,785,501 |
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AMERAMEX INTERNATIONAL, INC. |
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Cash flow statement |
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March 31, 2022 |
March 31, 2021 |
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Operating activities: |
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Net income |
3 |
258,317 |
3 |
365,829 |
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Adjustment to adjust for net loss |
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Net Cash Payment by Operating Activities (Used): |
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Depreciation and repayment |
188,135 |
258,148 |
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Provision of late income tax |
101,738 |
153,875 |
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Loss in early repayment of debt |
15,345 |
12,333 |
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Payment of interest and increase |
29,652 |
– |
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Changing operating assets and liabilities: |
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The calculation is acceptable |
(297,688) |
(994,910) |
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Inventory |
(1,223,361) |
(757,248) |
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Other current assets |
73,763 |
(16,212) |
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Accounts payable |
590,096 |
633,213 |
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Customer deposit |
(302,000) |
– |
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Deposit cost |
(31,496) |
115,987 |
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Net cash used by operating activities is paid |
3 |
(597,501) |
3 |
(228,985) |
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Search activity: |
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Payment for property and equipment |
3 |
(8,995) |
3 |
(6,501) |
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Income for rental equipment (payments) |
(126,358) |
304,755 |
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Net cash payment by investment activities (used) |
3 |
(135,353) |
3 |
298,254 |
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Economic activities: |
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Income from payable notes |
3 |
135,890 |
3 |
529,630 |
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Payment on payable notes |
(434,403) |
(252,934) |
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Payment on payable notes – Concerned parties |
– |
12,753 |
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Liability for joint ventures |
105,543 |
155,247 |
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Net loan under credit line (loan repayment) |
555,702 |
(584,246) |
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Net cash disbursement (used) by financing activities |
3 |
362,732 |
3 |
(139,550) |
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Cash and cash equivalent net reduction |
3 |
(370,122) |
3 |
(70,281) |
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Cash and cash equivalent, beginning of the period |
3 |
995,611 |
3 |
406,61 |
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Cash and cash equivalent, expired |
3 |
625,489 |
3 |
337,600 |
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Cash paid for: |
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Interest |
3 |
176,795 |
3 |
201,278 |
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Income tax |
3 |
800 |
3 |
– |
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Supplementary disclosure of non-cash investment |
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And financing activities: |
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Inventory transfer to rental equipment |
– |
508,000 |
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Equipment financed under capital lease |
76,464 |
197,186 |
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Transfer of rental equipment to inventory |
– |
964,600 |
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AMERAMEX INTERNATIONAL, INC. |
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Statement of Stockholder Equity (Deficit) |
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For the months ending March 31, 2022 and 2021 |
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Extra |
Total |
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Ordinary stock |
Paid |
Accumulated |
Shareholders |
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Balance |
Share |
Amount |
Capital |
Deficit |
Equity |
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December 31, 2020 |
14,549,155 |
$ 14,549 |
21,545,614 |
$ (19,967,433) |
$ 1,592,730 |
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Net income |
– |
– |
– |
365,829 |
365,829 |
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March 31, 2021 |
14,549,155 |
$ 14,549 |
21,545,614 |
(19,601,604) |
$ 1,958,559 |
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December 31, 2021 |
14,629,155 |
$ 14,629 |
21,600,734 |
(18,335,686) |
3,279,677 |
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Net income |
– |
– |
– |
258,317 |
258,317 |
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March 31, 2022 |
14,629,155 |
$ 14,629 |
21,600,734 |
(18,077,369) |
$ 3,537,994 |
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14,629,155 |
14,629 |
21,600,734 |
(18,077,369) |
3,537,994 |
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About AmeraMex International
AmeraMex International sells, leases and leases heavy equipment to companies in multiple industries, including construction, logistics, mining and timber. AmeraMex has over 30 years of experience in heavy equipment sales and service, including a US and international customer base. Follow AmeraMex on Twitter @ammx_intl and visit the AmeraMex website, www.AMMX.net or www.hamreequipment.com for additional information and tools videos.
Future plans
This press release contains a statement from the front. Except for the statement of historical information included in this press release, all other statements are expected statements. In some cases, words such as “belief”, “expectation”, “conjecture”, “plan,” “probability,” “continue,” or similar expressions can be used to identify a visionary statement. Such forward-looking statements include risk and uncertainty, and there are key reasons why the actual results may differ materially from those expressed or implied by such far-sighted statements. Investors are encouraged to review the company’s filing with the Securities and Exchange Commission. Investors should not place unreasonable reliance on forward statements because they involve known and unknown, uncertainty and other factors which in some cases are beyond the control of the company which may materially affect the actual results, levels of activity, performance or achievement. Any forward-looking statements reflect the Company’s current outlook on future events and are subject to these and other risks, uncertainties and operations, outcomes of operations, growth strategies and liquidity estimates. The Company assumes no obligation to publicly update or correct these advance statements for any reason, or to update the actual results for reasons that may differ materially from those expected in these forward-looking statements, even if the added information becomes available in the future.
Contact address
McCloud Communications LLC
Marty Tulio
+1 949-632-1900
Company website
https://www.ammx.net
See the source version at newsdirect.com: https://newsdirect.com/news/ameramex-international-reports-revenue-of-4-9-million-for-the-first-quarter-ended-march-31-2022 – 439427399
