Shareholder Conference Call, Monday , November 15 at 9:00 a.m. Pacific

CHICO, CA / November 15, 2021 / AmeraMex International, Inc. (OTCQB:AMMX), a provider of heavy equipment for logistics companies, infrastructure construction, and forestry conservation, reported financial results for its third quarter and nine-month period ended September 30, 2021.

Lee Hamre commented, “Overall, we are pleased with our revenue growth and profitability when compared to the nine-month period of 2020. Our goal is to continue top-line growth while improving our bottom line through product mix, profit margins and cost-cutting measures. Additionally, our prices are increasing to reflect rising inflation.

“This quarter, $4.5 million of new equipment shipped from an order of new Taylor equipment generated in 2020. This new equipment carries margins of approximately three percent but allows us to purchase the old equipment, refurbish it and sell for margins in excess of 25 percent. Without this relationship, it would be more difficult, as well as more expensive, to purchase the used equipment that we need for resale.”

Statement of Operations for the Third Quarter Ended September 30, 2021

The company reported revenue of approximately $8.2 million, a 72 percent increase when compared to revenue of approximately $5.9 million for the third quarter of 2020.

Gross profit for the quarter was $.815 million, a 10 percent increase when compared to gross profit of $.809 million for the third quarter of 2020. Gross profit margins were significantly affected by a $4.5 million shipment of new equipment carrying three percent margins.

The Company reported net profit from operations of $.343 million for the quarter, a significant increase when compared to a net profit from operations of $.019 million for the comparable 2020 quarter. Net income for the quarter was $.083 million compared to net loss of ($.083) million for the comparable 2020 quarter.

Statement of Operations for the Nine-Month Period Ended September 30, 2021

Revenue for the nine-month period was approximately $18.5 million an increase of 49 percent when compared to revenue of $9.1 million for the 2020 nine-month period.

Gross profit for the nine-month period was $3.0 million, an increase of 57 percent when compared to gross profit of $1.7 million for the 2020 nine-month period. Gross profit margins were 16 percent compared to gross profit margins of 18 percent for the comparable period. Gross profit margins were significantly affected by a $4.5 million shipment of new equipment carrying three percent margins in the third quarter.

The Company reported profit from operations of $1.6 million for the period, a significant increase when compared to profit from operations of $.197 million for the 2020 period. Net profit for the nine-month period was approximately $.527 million, compared to net loss of approximately ($.408 )million for the 2020 period.

Balance Sheet for the Nine-Month Period Ended September 30, 2020

Assets were down $700,000 as recently returned rental equipment was sold and receivables tightened up. Cash balance increased $500,000 for the period. Total liabilities for the period have decreased as the lines of credit were paid down $1.5 million and Notes Payable (net of current portion) were reduced $500,000.

Conference Call

AmeraMex International, Inc. CEO Lee Hamre is hosting the Company’s third quarter financial conference call Monday, November 15, 2021 at 9:00 a.m. Pacific Time, 12:00 p.m. Eastern Time.

The conference call dial-in number for both U.S. and international callers is 1.412.317.6026. 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 November 15, 2021 at 3:00 p.m. Eastern Time until November 29, 2021 at 11:59 p.m. Eastern Time. The replay is accessible by dialing 1.412.317.6671 and entering pin number 1016190

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 Marty@McCloudCommunications.com

AMERAMEX INTERNATIONAL, INC.

UNAUDITED STATEMENTS OF OPERATIONS

THREE MONTHS ENDED SEPTEMBER 30, NINE MONTHS ENDED SEPTEMBER 30,
2021 2020 2021 2020
REVENUES
Sales of Equipment and Other Revenues
$ 7,591,527 $ 5,168,949 47 % 16,494,253 $ 7,106,628
Rentals and Leases
588,746 711,463 -17 % 2,015,667 1,994,938
Total Sales
8,180,273 5,880,412 39 % 18,509,920 9,101,566
COST OF SALES
Sales of Equipment and Other Revenues
7,169,018 4,824,488 14,922,284 6,673,745
Rentals and Leases
195,994 247,398 630,240 744,796
Total Cost of Sales
7,365,012 5,071,886 45 % 15,552,524 7,418,541
GROSS PROFIT
815,261 808,526 2,957,396 1,683,025
OPERATING EXPENSES
Selling Expense
203,100 136,591 627,021 284,591
Legal Settlement
428,700 428,700
General and Administrative
269,029 223,980 743,259 772,365
Total Operating Expenses
472,129 789,271 1,370,280 1,485,656
Profit (loss) From Operations
343,132 19,255 1,587,116 197,369
OTHER INCOME (EXPENSE)
Interest Expense, net
(208,967 ) (260,989 ) (743,999 ) (887,522 )
Loss from Early Extinguishment of Debt
(20,373 ) (110,551 )
Other Income (Expense)
3,500 14,342 (1,648 )
Total Other Income (Expense)
(225,840 ) (260,989 ) (840,208 ) (889,170 )
INCOME BEFORE PROVISION for INCOME TAXES
117,292 (241,734 ) 746,908 (691,801 )
PROVISION (BENEFIT) for INCOME TAXES
34,601 (158,590 ) 220,338 (183,332 )
NET INCOME (LOSS)
$ 82,691 $ (83,144 ) $ 526,570 $ (508,469 )
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 $ -0.01 $ 0.04 $ -0.03
Diluted
$ 0.01 $ -0.01 $ 0.04 $ -0.03

AMERAMEX INTERNATIONAL, INC.

UNAUDITED BALANCE SHEETS

September 30, 2021 DECEMBER 31, 2020
ASSETS
Current Assets:
Cash
$ 924,162 $ 407,881
Accounts Receivable, Net
1,403,658 768,371
Inventory, Net
6,007,450 5,873,569
Other Current Assets
227,624 198,531
Total Current Assets
8,562,894 7,248,352
Property and Equipment, Net
986,922 1,035,840
Rental Equipment, Net
1,868,863 3,624,376
Deferred Tax Assets, Net
158,124
Other Assets
400,797 453,410
Total Other Assets
3,256,582 5,271,750
TOTAL ASSETS
$ 11,819,476 $ 12,520,102
LIABILITIES & STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts Payable
$ 1,995,644 $ 620,200
Accrued Expenses
254,918 231,329
Joint Venture Liability
210,000 439,500
Lines of Credit
4,268,938 5,749,801
Notes Payable, Current Portion
781,190 911,265
Convertible Notes
150,683
Total Current Liabilities
7,510,690 8,102,778
Long-Term Liabilities
Deferred Tax Liabilities, Net
62,214
Notes Payable – Related Party
652 226,659
Notes Payable, Net of Current Portion
2,071,420 2,597,935
Total Long-Term Liabilities
2,134,286 2,824,594
TOTAL LIABILITIES
9,644,976 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 September 30, 2021
14,548,851 at December 31, 2020
Additional Paid-In Capital
21,600,734 21,545,614
Accumulated Deficit
(19,440,863 ) (19,967,433 )
Total Stockholders’ Equity
2,174,500 1,592,730
TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY
$ 11,819,476 $ 12,520,102

AMERAMEX INTERNATIONAL, INC.

UNAUDITED STATEMENTS OF CASH FLOW

NINE MONTHS ENDED SEPTEMBER 30,
2021 2020
OPERATING ACTIVITIES:
Net Profit (Loss)
526,570 (567,919 )
Adjustments to reconcile Net Loss to
Net Cash provided (used) by Operations Activities:
Depreciation and Amortization
725,711 676,983
Provision (Benefit) for Deferred Income Taxes
62,214 (204,761 )
Marketing Services Paid in Stock
46,400
Loss on Early Extinguishment of Debt
110,551
Amortization and Accretion of Interest
106,552
Change in Assets and Liabilities:
Accounts Receivable
(635,287 ) (385,333 )
Inventory
1,476,799 (2,553,432 )
Other Current Assets
(29,093 ) (27,531 )
Accounts Payable
1,375,444 201,626
Accrued Expenses
23,589 492,674
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES
3,789,450 (2,367,693 )
INVESTING ACTIVITIES:
Payments for Property & Equipment
(156,501 ) (135,025 )
Proceeds (Payments) for Rental Equipment
(436,709 ) 167,490
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES
(593,210 ) 32,465
FINANCING ACTIVITIES:
Proceeds from Notes Payable
2,081,198 3,840,481
Payments on Notes Payable
(2,824,788 ) (391,300 )
Payment on Note Payable – Related Party
(226,007 ) (19,672 )
Joint Venture Liability
(229,500 ) (17,500 )
Net Borrowing Under Lines of Credit
(1,480,862 ) (980,546 )
NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES
(2,679,959 ) 2,431,463
NET INCREASE IN CASH & CASH EQUIVALENTS
516,281 96,235
Cash and Cash Equivalents, BEGINNING OF PERIOD
407,881 114,504
Cash and Cash Equivalents, END OF PERIOD
924,162 210,739
CASH PAID FOR:
Interest
599,030 887,522
Income Taxes
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING
AND FINANCING ACTIVITIES:
Transfer of Inventory to Rental Equipment
508,000
Equipment Financed under Capital Leases
178,027 239,709
Transfer of Rental Equipment to Inventory
964,600 227,279

AMERAMEX INTERNATIONAL, INC.

UNAUDITED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT)

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2021 AND 2020

Total
Additional Stockholders’
Common Stock Paid-in Treasury Accumulated Equity/
Balance
Shares Amount Capital Stock Deficit (Deficit)
12/31/2019
15,068,318 $ 15,068 $ 21,519,435 $ $ (19,384,743 ) $ 2,149,760
Net Loss
(508,469 ) (508,469 )
9/30/2020
15,068,318 $ 15,068 $ 21,519,435 $ $ (19,893,212 ) $ 1,641,291
12/31/2020
14,549,155 $ 14,549 $ 21,545,614 $ $ (19,967,433 ) $ 1,592,730
Stock for Services
80,000 80 55,120 55,200
Net Income
526,570 526,570
9/30/2021
14,629,155 $ 14,629 $ 21,600,734 $ $ (19,440,863 ) $ 2,174,500
14,629,155 14,629 21,600,734 (19,440,863 ) 2,174,500

SOURCE: AmeraMex International Inc

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