Revenue for six-month period exceeds $10.3 million

CHICO, CA / August 13, 2021 / 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, 2021.

AmeraMex is reporting a significant increase in revenue for the second quarter and six-month period of 2021. It is important to remember that the Company’s revenue for the comparative periods in 2020, was negatively affected by COVID-19 restraints. There was a substantial turnaround in revenue for the third and fourth quarters of 2020 finishing the years with revenue of $12.3 million

Second Quarter Ended June 30, 2021

The company reported revenue of $6.3 million compared to revenue of $1.8 million for the second quarter of 2020.

Gross profit for the quarter was $.970 million compared to gross profit of $.430 million for the second quarter of 2020. Gross profit as a percentage of revenue was 15 percent compared to 24 percent for the second quarter of 2020.

The net income for the quarter was $.078 million compared to net loss of $(.440) million for the second quarter of 2020.

Six-Month Period Ended June 30, 2021

Revenue for the six-month period was $10.3 million, a 222 percent increase when compared to revenue of $3.2 million reported for the comparable six-month period of 2020.

Gross profit for the six-month period was $2.1 million compared to gross profit of $.874 million for the six-month period of 2020. Gross profit as a percentage of revenue was 21 percent for the six-month period compared to 27 percent for the six-month period of 2020.

The net incom e for the six-month period was $.444 million compared to a net loss of $(.568) million reported for the comparable six-month period of 2020.

As a reminder, the public is invited to participate 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 13, 2021 at 5:00 p.m. ET until August 27, 2021 at 11:59 p.m. ET. The replay is accessible by dialing 1.412.317.6671 and entering pin number 13722155.

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 STATEMENTS OF OPERATIONS

THREE MONTHS ENDED JUNE 30, SIX MONTHS ENDED JUNE 30,
2021 2020 2021 2020
REVENUES
Sales of Equipment and Other Revenues
$ 5,656,744 $ 1,025,364 $ 8,902,726 $ 1,937,679
Rentals and Leases
643,207 757,321 1,426,921 1,283,475
Total Sales
6,299,951 1,782,685 10,329,647 3,221,154
COST OF SALES
Sales of Equipment and Other Revenues
5,140,234 1,103,305 7,753,266 1,849,257
Rentals and Leases
189,290 249,092 434,246 497,398
Total Operating Expenses
5,329,524 1,352,397 8,187,512 2,346,655
GROSS PROFIT
970,427 430,288 2,142,135 874,499
OPERATING EXPENSES
Selling Expense
284,732 59,167 423,921 148,000
General and Administrative
229,927 708,562 474,230 977,085
Total Operating Expenses
514,659 767,729 898,151 1,125,085
Profit (loss) From Operations
455,768 (337,441 ) 1,243,984 (250,586 )
OTHER INCOME (EXPENSE)
Interest Expense, net
(267,975 ) (260,989 ) (535,032 ) (520,797 )
Loss from Early Extinguishment of Debt
(77,845 ) (90,178 )
Other Income (Expense)
764 10,842 (1,302 )
Total Other Income (Expense)
(345,056 ) (260,989 ) (614,368 ) (522,099 )
INCOME BEFORE PROVISION for INCOME TAXES
110,712 (598,430 ) 629,616 (772,685 )
PROVISION (BENEFIT) for INCOME TAXES
32,662 (158,590 ) 185,737 (204,766 )
NET INCOME (LOSS)
$ 78,050 $ (439,840 ) $ 443,879 $ (567,919 )
Weighted Average Shares Outstanding:
Basic
14,629,155 15,068,318 14,629,155 15,068,318
Diluted
14,629,155 15,068,318 14,629,155 15,068,318
Earnings (loss) per Share
Basic
$ 0.01 $ -0.03 $ 0.03 $ -0.04
Diluted
$ 0.01 $ -0.03 $ 0.03 $ -0.04

AMERAMEX INTERNATIONAL, INC.
UNAUDITED BALANCE SHEETS

JUNE 30, 2021 DECEMBER 31, 2020
ASSETS
Current Assets:
Cash
$ 450,944 $ 407,881
Accounts Receivable, Net
1,349,615 768,371
Inventory, Net
6,126,283 5,873,569
Other Current Assets
226,456 198,531
Total Current Assets
8,153,298 7,248,352
Property and Equipment, Net
1,049,776 1,035,840
Rental Equipment, Net
2,013,696 3,624,376
Deferred Tax Assets, Net
158,124
Other Assets
414,619 453,410
Total Other Assets
3,478,091 5,271,750
TOTAL ASSETS
$ 11,631,389 $ 12,520,102
LIABILITIES & STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts Payable
$ 980,458 $ 620,200
Accrued Expenses
481,320 231,329
Joint Venture Liability
370,000 439,500
Lines of Credit
4,437,957 5,749,801
Notes Payable, Current Portion
739,109 911,265
Convertible Notes
226,802 150,683
Total Current Liabilities
7,235,646 8,102,778
Long-Term Liabilities
Deferred Tax Liability
27,613
Notes Payable – Related Party
202,751 226,659
Notes Payable, net of Current Portion
2,073,570 2,597,935
Total Long-Term Liabilities
2,303,934 2,824,594
TOTAL LIABILITIES
9,539,580 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 14,549
14,629,155 shares issued and outstanding at June 30, 2021 and
14,548,851 at December 31, 2020
Additional Paid-In Capital
21,600,734 21,545,614
Accumulated Deficit
(19,523,554 ) (19,967,433 )
Total Stockholders’ Equity (Deficit)
2,091,809 1,592,730
TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY
$ 11,631,389 $ 12,520,102

AMERAMEX INTERNATIONAL, INC.
UNAUDITED STATEMENTS OF CASH FLOW

SIX MONTHS ENDED JUNE 30,
2021 2020
OPERATING ACTIVITIES:
Net Profit (Loss)
443,879 (567,919 )
Adjustments to reconcile Net Loss to
Net Cash provided by Operations Activities:
Depreciation and Amortization
518,025 676,983
Provision (Benefit) for Deferred Income Taxes
27,613 (204,761 )
Marketing Services Paid in Stock
46,400
Loss on Early Extinguishment of Debt
90,178
Change in Assets and Liabilities:
Accounts Receivable
(581,244 ) (385,333 )
Inventory
1,357,966 (2,553,432 )
Other Current Assets
(27,925 ) (27,531 )
Accounts Payable
360,258 201,626
Accrued Expenses
249,991 492,674
NET CASH PROVIDED BY OPERATING ACTIVITIES
2,485,141 (2,367,693 )
INVESTING ACTIVITIES:
Payments for Property & Equipment
(156,502 ) (135,025 )
Payments for Rental Equipment
(416,292 ) 167,490
NET CASH PROVIDED BY INVESTING ACTIVITIES
(572,794 ) 32,465
FINANCING ACTIVITIES:
Proceeds from Notes Payable
2,072,205 3,840,481
Payments on Notes Payable
(2,536,238 ) (391,300 )
Payment on Note Payable – Related Party
(23,908 ) (19,672 )
Joint Venture Liability
(69,500 ) (17,500 )
Net Borrowing Under Lines of Credit
(1,311,843 ) (980,546 )
NET CASH PROVIDED BY FINANCING ACTIVITIES
(1,869,284 ) 2,431,463
NET INCREASE (DECREASE) IN CASH & CASH EQUIVALENTS
43,063 96,235
Cash and Cash Equivalents, BEGINNING OF PERIOD
407,881 114,504
Cash and Cash Equivalents, END OF PERIOD
450,944 210,739
CASH PAID FOR:
Interest
513,108 520,797
Income Taxes
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING
AND FINANCING ACTIVITIES:
Transfer of Inventory to Rental Equipment
508,000
Equipment Financed under Capital Leases
187,732 239,709
Transfer of Rental Equipment to Inventory
964,600 227,279

AMERAMEX INTERNATIONAL, INC.
UNAUDITED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT)
FOR THE SIX MONTHS ENDED JUNE 30, 2021 AND 2020

Additional
Common Stock Paid-in Treasury Accumulated
Balance
Shares Amount Capital Stock Deficit
12/31/2020
15,068,318 $ 15,068 $ 21,519,435 $ $ (19,384,743 )
Net Loss
(567,919 )
6/30/2020
15,068,318 $ 15,068 $ 21,519,435 $ $ (19,952,662 )
12/31/2020
14,549,155 $ 14,549 $ 21,545,614 $ $ (19,967,433 )
Stock for Services
80,000 80 55,120
Net Income
443,879
6/30/2020
14,629,155 $ 14,629 $ 21,600,734 $ $ (19,523,554 )
14,629,155 14,629 21,600,734 (19,523,554 )

SOURCE: AmeraMex International Inc

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