Chico, California--(Newsfile Corp. - April 25, 2025) - AmeraMex International, Inc. (OTC Pink: AMMX), a provider of heavy equipment for logistics companies, infrastructure construction, and forestry conservation, reported financial results for its year ended December 31, 2024.
Statement of Operations for the Year Ended December 31, 2024
The company reported revenue of approximately $14.9 million, compared to revenue of approximately $13.4 million for the year ended December 31, 2023.
Gross profit for the year was $1.2 million, compared to gross profit of $2.1 million for the 2023 year-end.
Gross profit as a percentage of revenue was 8 percent for the year compared to gross profit, as a percentage of revenue, of 16 percent for the 2023 year-end.
Net loss for the year was ($1.2 million) compared to net loss of ($1.4 million) for the comparable 2023 year-end. Loss per share was ($0.08) compared to a loss per share of ($0.10).
Balance Sheet for the Year Ended December 31, 2024
Total Assets for the year were $17.5 million compared to $17.8 million for the year ended December 31, 2023.
Total Liabilities for the year were $15.2 million compared to $14.4 million for the year ended December 31, 2023.
Conference Call
The AmeraMex management team will be traveling for the next several days and a news release pertaining to the year ended 2023 conference call will be disseminated next.
AmeraMex International
AmeraMex International sells, leases, and rents heavy equipment to companies within multiple industries including construction, logistics, mining, and lumber. 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 "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
Tables Follow
| AMERAMEX INTERNATIONAL, INC. | |||||||||||||
| UNAUDITED STATEMENTS OF OPERATIONS | |||||||||||||
| DECEMBER 31, 2024 | DECEMBER 31, 2023 | ||||||||||||
| REVENUES | |||||||||||||
| Sales of Equipment and Other Revenues | $ | 12,793,051 | $ | 11,918,754 | |||||||||
| Rentals and Leases | 2,179,964 | 1,464,745 | |||||||||||
| Total Sales | 14,973,015 | 13,383,499 | |||||||||||
| COST OF SALES | |||||||||||||
| Sales of Equipment and Other Revenues | 12,717,263 | 10,880,204 | |||||||||||
| Rentals and Leases | 1,029,540 | 438,056 | |||||||||||
| Total Cost of Sales | 13,746,803 | 11,318,260 | |||||||||||
| GROSS PROFIT | 1,226,212 | 2,065,239 | |||||||||||
| OPERATING EXPENSES | |||||||||||||
| Selling Expense | 745,964 | 2,227,613 | |||||||||||
| General and Administrative | 1,056,187 | 689,636 | |||||||||||
| Total Operating Expenses | 1,802,151 | 2,917,249 | |||||||||||
| Profit (loss) From Operations | (575,939) | (852,010 | ) | ||||||||||
| OTHER INCOME (EXPENSE) | |||||||||||||
| Interest Expense, net | (1,179,955) | (624,940 | ) | ||||||||||
| Loss from Early Extinguishment of Debt | - | (44,359 | ) | ||||||||||
| Other Income (Expense) | 167,489 | 146,948 | |||||||||||
| Total Other Income (Expense) | (1,012,466) | (522,351 | ) | ||||||||||
| INCOME BEFORE PROVISION for INCOME TAXES | (1,588,405) | (1,374,361 | ) | ||||||||||
| PROVISION for INCOME TAXES | 430,184 | - | |||||||||||
| NET INCOME | $ | (1,158,221) | $ | (1,374,361 | ) | ||||||||
| Weighted Average Shares Outstanding: | |||||||||||||
| Basic | 14,112,988 | 14,112,988 | |||||||||||
| Diluted | 14,112,988 | 14,112,988 | |||||||||||
| Earnings (loss) per Share | |||||||||||||
| Basic | $ | -0.08 | $ | -0.10 | |||||||||
| Diluted | $ | -0.08 | $ | -0.10 | |||||||||
| AMERAMEX INTERNATIONAL, INC. | |||||||||||
| UNAUDITED BALANCE SHEETS | |||||||||||
| DECEMBER 31, 2024 | DECEMBER 31, 2023 | ||||||||||
| ASSETS | |||||||||||
| Current Assets: | |||||||||||
| Cash | $ | 84,929 | $ | 588,128 | |||||||
| Accounts Receivable, Net | 2,838,374 | 1,289,389 | |||||||||
| Inventory, Net | 6,389,591 | 11,359,158 | |||||||||
| Other Current Assets | 247,012 | 324,134 | |||||||||
| Total Current Assets | 9,559,906 | 13,560,809 | |||||||||
| Property and Equipment, Net | 661,482 | 1,420,163 | |||||||||
| Rental Equipment, Net | 5,407,483 | 1,063,464 | |||||||||
| Joint Venture Asset | 177,000 | - | |||||||||
| Operating Lease ROU Asset | 611,822 | 703,802 | |||||||||
| Financing Leasae ROU Asset | 872,437 | 883,310 | |||||||||
| Other Assets | 215,643 | 203,025 | |||||||||
| Total Other Assets | 7,945,867 | 4,273,764 | |||||||||
| TOTAL ASSETS | $ | 17,505,773 | $ | 17,834,573 | |||||||
| LIABILITIES & STOCKHOLDERS' EQUITY | |||||||||||
| Current Liabilities: | |||||||||||
| Accounts Payable | $ | 1,655,227 | $ | 2,213,722 | |||||||
| Accrued Expenses | 155,871 | 348,415 | |||||||||
| Deferred Revenue | 1,690,905 | 2,136,400 | |||||||||
| Joint Venture Liability | - | 105,000 | |||||||||
| Lines of Credit | 4,732,151 | 5,509,788 | |||||||||
| Notes Payable, Current Portion | 1,268,380 | 1,273,310 | |||||||||
| Operating Lease Liability | 129,081 | 129,081 | |||||||||
| Financing Lease Liability | 295,965 | 376,242 | |||||||||
| Total Current Liabilities | 9,927,580 | 12,091,958 | |||||||||
| Long-Term Liabilities | |||||||||||
| Notes Payable, Net of Current Portion | 4,446,580 | 1,094,722 | |||||||||
| Operating Lease Liability, Net of Current Portion | 482,741 | 574,721 | |||||||||
| Financing Lease Liability, Net of Current Portion | 407,379 | 673,458 | |||||||||
| Total Long-Term Liabilities | 5,336,700 | 2,342,901 | |||||||||
| TOTAL LIABILITIES | 15,264,280 | 14,434,859 | |||||||||
| 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 | 14,829 | 14,829 | |||||||||
| 14,829,155 shares issued and outstanding | |||||||||||
| Additional Paid-In Capital | 21,671,534 | 21,671,534 | |||||||||
| Accumulated Deficit | (19,444,870 | ) | (18,286,649 | ) | |||||||
| Total Stockholders' Equity | 2,241,493 | 3,399,714 | |||||||||
| TOTAL LIABILITIES & STOCKHOLDERS' EQUITY | $ | 17,505,773 | $ | 17,834,573 | |||||||
| - | - | ||||||||||
| AMERAMEX INTERNATIONAL, INC. | |||||||
| UNAUDITED STATEMENTS OF CASH FLOW | |||||||
| DECEMBER 31, 2024 | DECEMBER 31, 2023 | ||||||
| OPERATING ACTIVITIES: | |||||||
| Net Income | (1,158,221) | (1,374,361) | |||||
| Adjustments to reconcile Net Loss to | |||||||
| Net Cash provided (used) by Operations Activities: | |||||||
| Depreciation and Amortization | 1,414,693 | 1,102,544 | |||||
| Provision (Benefit) for Deferred Income Taxes | - | (78,120) | |||||
| Amortization and Accretion of Interest | 48,593 | 18,719 | |||||
| Change in Assets and Liabilities: | |||||||
| Accounts Receivable | (1,548,985 | ) | (208,650) | ||||
| Inventory | 4,969,567 | (5,083,335) | |||||
| Other Current Assets | 77,122 | 165,771 | |||||
| Accounts Payable | (558,495 | ) | 1,013,917 | ||||
| Accrued Expenses | (192,544 | ) | (98,434) | ||||
| Deferred Revenue | (445,495 | ) | 2,136,400 | ||||
| NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES | 2,606,235 | (2,405,549) | |||||
| INVESTING ACTIVITIES: | |||||||
| Payments for Property & Equipment | 360,566 | (725,941) | |||||
| Payments for Rental Equipment | (5,360,597 | ) | (364,804) | ||||
| NET CASH USED BY INVESTING ACTIVITIES | (5,000,031 | ) | (1,090,745) | ||||
| FINANCING ACTIVITIES: | |||||||
| Joint Venture Liability | (105,000 | ) | (122,503) | ||||
| Lease payments related to finance leases | (292,158 | ) | (292,158) | ||||
| Net Borrowing (Repayments) Under Lines of Credit | (777,637 | ) | 4,182,073 | ||||
| Payments on Notes Payable | (5,200,172 | ) | (1,812,363) | ||||
| Proceeds from Notes Payable | 8,265,564 | 1,052,805 | |||||
| NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES | 1,890,597 | 3,007,854 | |||||
| NET INCREASE (DECREASE) IN CASH & CASH EQUIVALENTS | (503,199 | ) | (488,440) | ||||
| Cash and Cash Equivalents, BEGINNING OF PERIOD | 588,128 | 1,032,209 | |||||
| Cash and Cash Equivalents, END OF PERIOD | 84,929 | 588,128 | |||||
| CASH PAID FOR: | |||||||
| Interest | 1,202,753 | 532,297 | |||||
| Income Taxes | 800 | 800 | |||||
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING | |||||||
| AND FINANCING ACTIVITIES: | |||||||
| Transfer of Inventory to Rental Equipment | - | 1,600,577 | |||||
| Equipment Financed under Capital Leases | - | - | |||||
| Transfer of Rental Equipment to Inventory | - | - | |||||
| AMERAMEX INTERNATIONAL, INC. | ||||||||||||||
| UNAUDITED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) | ||||||||||||||
| FOR DECEMBER 31, 2024 AND 2023 | ||||||||||||||
| Additional | ||||||||||||||
| Common Stock | Paid-in | Accumulated | ||||||||||||
| Balance | Shares | Amount | Capital | Deficit | ||||||||||
| December 31, 2022 | 14,829,155 | $ | 14,829 | $ | 21,671,534 | $ | (16,912,288) | |||||||
| Net Income | - | - | - | (1,374,361) | ||||||||||
| December 31, 2023 | 14,829,155 | $ | 14,829 | $ | 21,671,534 | $ | (18,286,649 | ) | ||||||
| Net Income | - | - | - | (1,158,221 | ) | |||||||||
| December 31, 2024 | 14,829,155 | $ | 14,829 | $ | 21,671,534 | $ | (19,444,870 | ) | ||||||
| 14,112,988 | 14,829 | 21,671,534 | (19,444,870 | ) | ||||||||||
| 716,167 | - | - | - | |||||||||||
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