AmeraMex International reported $ 4.9 million in revenue for the first quarter

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.

AMERAMEX INTERNATIONAL, INC.

Operation statement

March 31, 2022

March 31, 2021

Revenue

Equipment sales and other revenue

3

4,575,692

3

3,245,982

Rent and lease

365,914

783,714

Total sales

4,951,606

4,029,696

Sales costs

Equipment sales and other revenue

3,552,821

2,613,032

Rent and lease

149,716

244,956

The total cost of sales

3,702,537

2,857,988

Full profit

1,249,069

1,171,708

Operating costs

Sales costs

323,441

139,189

General and administrative

369,336

244,303

Total operating costs

692,777

363,492

Profit from operation

556,292

788,216

Other Income (Expenditure)

Expenditure on interest, net

(177,757)

(267,057)

Loss from early repayment of debt

(15,345)

(12,333)

Other income

554

10,078

Total other costs

(192,548)

(269,312)

Income before income tax provision

363,744

518,904

Income tax provision

105,427

153,075

Net income

3

258,317

3

365,829

Weighted Average Shares Outstanding:

Basic

14,629,155

14,549,155

Mixed

14,629,155

14,549,155

Earnings per share (loss)

Basic

3

0.02

3

0.03

Mixed

3

0.02

3

0.03

AMERAMEX INTERNATIONAL, INC.

Balance sheet

March 31, 2022

December 31, 2021

Resources

Current assets:

Cash

3

625,489

3

995,611

Account Acceptable, Net

1,459,988

1,162,300

Inventory, net

6,7,73

5,165,64

Other current assets

239,200

312,963

Total current assets

9,002,540

6,758,736

Non-current assets:

Property and equipment, net

1,208,628

1,275,717

Rental equipment, net

1,193,078

1,461,716

The right to use the leased property

846,131

Other property

367,991

391,330

Total long-term assets

3,617,828

3,128,763

Total assets

3

12,620,368

3

10,785,501

Liability and equity of stockholders

Current Liability:

Accounts payable

3

1,150,172

3

560,076

Deposit cost

233,036

264,534

Liability for joint ventures

248,043

302,000

Line of credit

2,462,101

142,500

Notes payable, current part

560,606

3,180,968

Lease liability

129,081

777,602

Total current liability

4,63,039

5,227,680

Long term liability

Delayed tax liability, net

690,530

588,792

Line of credit

1,274,568

Notes payable – Concerned parties

Notes payable, current part net

1,615,187

1,689,353

Lease liability, current part net

719,050

Total long-term liability

4,299,335

2,278,145

Total liability

3

9,082,374

3

6,505,624

Promises and Affiliations (Note 10)

Stockholder Equity:

Shareholder equity

Preferred stock, 0.001 equivalent, 5,000,000 shares approved, no shares issued and outstanding

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

Excess paid up capital

21,600,734

21,600,734

Accumulated deficit

(18,077,369)

(18,335,686)

Total stockholder equity

3,537,994

3,279,677

Total liability and equity of stockholders

3

12,620,368

3

10,785,501

AMERAMEX INTERNATIONAL, INC.

Cash flow statement

March 31, 2022

March 31, 2021

Operating activities:

Net income

3

258,317

3

365,829

Adjustment to adjust for net loss

Net Cash Payment by Operating Activities (Used):

Depreciation and repayment

188,135

258,148

Provision of late income tax

101,738

153,875

Loss in early repayment of debt

15,345

12,333

Payment of interest and increase

29,652

Changing operating assets and liabilities:

The calculation is acceptable

(297,688)

(994,910)

Inventory

(1,223,361)

(757,248)

Other current assets

73,763

(16,212)

Accounts payable

590,096

633,213

Customer deposit

(302,000)

Deposit cost

(31,496)

115,987

Net cash used by operating activities is paid

3

(597,501)

3

(228,985)

Search activity:

Payment for property and equipment

3

(8,995)

3

(6,501)

Income for rental equipment (payments)

(126,358)

304,755

Net cash payment by investment activities (used)

3

(135,353)

3

298,254

Economic activities:

Income from payable notes

3

135,890

3

529,630

Payment on payable notes

(434,403)

(252,934)

Payment on payable notes – Concerned parties

12,753

Liability for joint ventures

105,543

155,247

Net loan under credit line (loan repayment)

555,702

(584,246)

Net cash disbursement (used) by financing activities

3

362,732

3

(139,550)

Cash and cash equivalent net reduction

3

(370,122)

3

(70,281)

Cash and cash equivalent, beginning of the period

3

995,611

3

406,61

Cash and cash equivalent, expired

3

625,489

3

337,600

Cash paid for:

Interest

3

176,795

3

201,278

Income tax

3

800

3

Supplementary disclosure of non-cash investment

And financing activities:

Inventory transfer to rental equipment

508,000

Equipment financed under capital lease

76,464

197,186

Transfer of rental equipment to inventory

964,600

AMERAMEX INTERNATIONAL, INC.

Statement of Stockholder Equity (Deficit)

For the months ending March 31, 2022 and 2021

Extra

Total

Ordinary stock

Paid

Accumulated

Shareholders

Balance

Share

Amount

Capital

Deficit

Equity

December 31, 2020

14,549,155

$ 14,549

21,545,614

$ (19,967,433)

$ 1,592,730

Net income

365,829

365,829

March 31, 2021

14,549,155

$ 14,549

21,545,614

(19,601,604)

$ 1,958,559

December 31, 2021

14,629,155

$ 14,629

21,600,734

(18,335,686)

3,279,677

Net income

258,317

258,317

March 31, 2022

14,629,155

$ 14,629

21,600,734

(18,077,369)

$ 3,537,994

14,629,155

14,629

21,600,734

(18,077,369)

3,537,994

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

[email protected]

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

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