CHICO, CA / ACCESSWIRE / August 10, 2020 / 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, 2020.

The Company’s revenue for the second quarter and six-month period was negatively affected by COVID-19 restraints as was that of its customers. The first month of the third quarter has already experienced a revenue turnaround. For the month of July through August 4, the Company reported sales in excess of $2.2 million. Based on potential order backlog and activity, AmeraMex management strongly believes that the second six months of 2020 will be outstanding.

Second Quarter Ended June 30, 2020

The company reported revenue of $1,782,658 compared to revenue of $5,473,041 for the second quarter of 2019. This represents a 67 percent decrease when compared to the second quarter of 2019.

Gross profit for the quarter was $430,288 compared to gross profit of $605,604 for the second quarter of 2019. Gross profit as a percentage of revenue was 24 percent compared to 11 percent for the second quarter of 2019.

The net loss for the quarter was $(439,840) compared to net income of $24,032 for the second quarter of 2019. This loss is attributed, in part, to a one-time operating expense of $428,700.

Six-Month Period Ended June 30, 2020

Revenue for the six-month period was $3,221,154, a 59 percent decrease when compared to revenue of $7,916,933 reported for the comparable six-month period of 2019.

Gross profit for the six-month period was $874,499 compared to gross profit of $1,247 ,674 for the six-month period of 2019. Gross profit as a percentage of revenue was 27 percent for the six-month period compared to 15 percent for the six-month period of 2019.

The net loss for the six-month period was $(567,919) compared to a net loss of $(258,586) reported for the comparable six-month period of 2019.

AmeraMex’s CFO, Hope Stone, presented at the OTC Markets Online OTCQB Venture Company Investor Conference on August 6, 2020. A replay of Stone’s presentation is available, via registration, on the OTCMarkets.com website.

As a reminder, the public is invited to participate today 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 10, 2020 at 5:00 p.m. ET until August 24, 2020 at 11:59 p.m.ET. The replay is accessible by dialing 1.412.317.6671 and entering pin number 13707920

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 STATEMENT OF OPERATIONS
FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2020 AND 2019

THREE MONTHS THREE MONTHS SIX MONTHS SIX MONTHS
JUNE 30,
2020
JUNE 30,
2019
JUNE 30,
2020
JUNE 30,
2019
REVENUES
Sales of Equipment and Other Revenues
$ 1,025,364 $ 4,901,300 $ 1,937,679 $ 6,671,353 -71 %
Rentals and Leases
757,321 571,741 1,283,475 1,245,580 3 %
Total Sales
1,782,685 5,473,041 3,221,154 7,916,933 -59 %
COST OF SALES
Sales of Equipment and Other Revenues
1,103,305 4,632,000 95 % 1,849,257 6,197,536 93 %
Rentals and Leases
249,092 235,537 41 % 497,398 471,723 38 %
Total Operating Expenses
1,352,397 4,867,537 2,346,655 6,669,259 -65 %
GROSS PROFIT
430,288 605,504 874,499 1,247,674 19 %
OPERATING EXPENSES
Selling Expense
59,167 106,726 148,000 187,959
General and Administrative
708,562 292,751 977,085 497,368
Total Operating Expenses
767,729 399,477 1,125,085 685,327
Profit (loss) From Operations
(337,441 ) 206,027 (250,586 ) 562,347
OTHER INCOME (EXPENSE)
Interest Expense, net
(260,989 ) (172,559 ) (520,797 ) (435,734 )
Loss from Early Extinguishment of Debt
(482,908 )
Other Income (Expense)
716 (1,302 ) 1,233
Total Other Income (Expense)
(260,989 ) (171,843 ) (522,099 ) (917,409 )
INCOME BEFORE PROVISION for INCOME TAXES
(598,430 ) 34,184 (772,685 ) (355,062 )
PROVISION (BENEFIT) for INCOME TAXES
(158,590 ) 10,152 (204,766 ) (96,476 )
NET INCOME (LOSS)
$ (439,840 ) $ 24,032 $ (567,919 ) $ (258,586 )
Weighted Average Shares Outstanding:
Basic
753,415,879 753,415,879 753,415,879 753,415,879
Diluted
753,415,879 753,415,879 753,415,879 753,415,879
Earnings (loss) per Share
Basic
$ 0.00 $ 0.00 $ 0.00 $ 0.00
Diluted
$ 0.00 $ 0.00 $ 0.00 $ 0.00

AMERAMEX INTERNATIONAL, INC.
UNAUDITED BALANCE SHEETS
FOR THE SIX MONTHS ENDED JUNE 30, 2020
AND THE YEAR ENDED DECEMBER 31, 2019

JUNE 30,
2020
DECEMBER 31,
2019
ASSETS
Current Assets:
Cash
$ 210,739 $ 114,504
Accounts Receivable, Net
975,043 589,710
Inventory, Net
7,385,715 4,832,283
Other Current Assets
234,476 206,945
Total Current Assets
8,805,973 5,743,442
Property and Equipment, Net
1,135,234 1,179,794
Rental Equipment, Net
3,371,724 4,036,612
Other Assets
436,597 489,562
Total Other Assets
4,943,555 5,705,968
TOTAL ASSETS
$ 13,749,528 $ 11,449,410
LIABILITIES & STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts Payable
$ 733,432 $ 531,806
Accrued Expenses
572,461 79,787
Joint Venture Liability
442,000 459,500
Line of Credit
225,090 408,033
Notes Payable, Current Portion
1,749,893 386,528
Total Current Liabilities
3,722,876 1,865,654
Long-Term Liabilities
Deferred Tax Liability
21,578 226,339
Notes Payable – Related Party
315,122 334,794
Notes Payable, net of Current Portion
2,592,085 559,235
Line of Credit
5,516,026 6,313,628
Total Long-Term Liabilities
8,444,811 7,433,996
TOTAL LIABILITIES
12,167,687 9,299,650
Commitments and Contingencies (Note 11)
STOCKHOLDERS’ EQUITY:
Shareholders’ Equity
Preferred Stock, $0.001 par value, 5,000,000 shars authorized, no
shares issued and outstanding
Common Stock, $0.001 par value, 1,000,000,000 shares authorized
753,416 753,416
753,415,879 shares issued and outstanding
Additional Paid-In Capital
20,781,087 20,781,087
Accumulated Deficit
(19,952,662 ) (19,384,743 )
Total Stockholders’ Equity (Deficit)
1,581,841 2,149,760
TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY
$ 13,749,528 $ 11,449,410

AMERAMEX INTERNATIONAL, INC.
UNAUDITED STATEMENT OF CASH FLOW
FOR THE SIX MONTHS ENDED JUNE 30, 2020 AND 2019

JUNE 30,
2020
JUNE 30,
2019
OPERATING ACTIVITIES:
Net Loss
(567,919 ) (258,586 )
Adjustments to reconcile Net Loss to
Net Cash provided by Operations Activities:
Depreciation and Amortization
676,983 580,044
Provision for Deferred Income Taxes
(204,761 ) (75,114 )
Loss on Early Extinguishment of Debt
482,908
Change in Assets and Liabilities:
Accounts Receivable
(385,333 ) 322,115
Inventory
(2,553,432 ) (963,246 )
Other Current Assets
(27,531 ) (195,673 )
Accounts Payable
201,626 (250,513 )
Accrued Expenses
492,674 (34,136 )
NET CASH PROVIDED BY OPERATING ACTIVITIES
(2,367,693 ) (392,201 )
INVESTING ACTIVITIES:
Payments for Property & Equipment
(135,025 ) (90,801 )
Payments for Rental Equipment
167,490 (98,371 )
NET CASH PROVIDED BY INVESTING ACTIVITIES
32,465 (189,172 )
FINANCING ACTIVITIES:
Proceeds from Notes Payable
3,804,863 126,000
Payments on Notes Payable
(391,300 ) (5,580,757 )
Payment on Note Payable – Related Party
(19,672 ) (1,101 )
Joint Venture Liability
(17,500 )
Net Proceeds Borrowing Under Line of Credit
(980,546 ) 6,015,067
NET CASH PROVIDED BY FINANCING ACTIVITIES
2,395,845 559,209
NET INCREASE (DECREASE) IN CASH & CASH EQUIVALENTS
60,617 (22,164 )
Cash and Cash Equivalents, BEGINNING OF PERIOD
114,504 197,752
Cash and Cash Equivalents, END OF PERIOD
175,121 175,588
CASH PAID FOR:
Interest
520,797 435,734
Income Taxes
204,766 195,598
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING
AND FINANCING ACTIVITIES:
Transfer of Inventory to Rental Equipment
Equipment Financed under Capital Leases
3,742,310
Transfer of Rental Equipment to Inventory
227,279

SOURCE: AmeraMex International, Inc.

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