AmeraMex International Reports a 15 Percent Increase in Revenue for the Year-Ended December 31, 2017 and a $6.9 Million First Quarter

CHICO, Calif., March 30, 2018 (GLOBE NEWSWIRE) -- AmeraMex International, Inc. (OTC:AMMX), a provider of heavy equipment for logistics companies, infrastructure construction, and tactical military vehicles, reports results for its financial year ended December 31, 2017 and a brief overview of sales for the first quarter of 2018 ending March 31.

Highlights for the Year Ended December 31, 2017:

Revenue for 2017
The company reported revenue of approximately $8.8 million compared to revenue of approximately $7.5 million for the year ended December 31, 2016.

Gross Profit for 2017 Increased 45 Percent
The company reported gross profit of $4.3 million compared to gross profit of $2.3 million for the year ended December 31, 2016. Gross profit as a percentage of sales rose 17 percent over the previous year.

Net Income
The company reported net income for the year of approximately $1.7 million compared to net loss of <$1.4> million for the year ended December 31, 2016.

Stronger Balance Sheet
Total assets improved significantly due in part to an approximate $2.5 million increase of inventory. Total liabilities for the year increased $1.5 million due in part to the purchase of inventory.

Audit Update
The Company’s outside auditors have completed the audit of its 2016 financial statements. They are now just finishing their review of the Company’s financial statements for the year ended December 2017 and will provide AmeraMex with any adjustments required. The Company plans to file the Registration Statement with the SEC as soon as possible. Then the SEC comment process will begin. The process can last three to four months, but the Company and its service providers are committed to responding expeditiously. After the SEC comment process is completed to their satisfaction, they will declare the Registration Statement “effective” and AmeraMex will be a “fully reporting company” which is a requirement before applying to list on the OTCQB.

First Quarter 2018
During the first quarter of 2018, AmeraMex has reported sales of over $6.9 million. Based on the current economic climate, management believes this positive outlook will continue to grow sales throughout 2018 and beyond.

Shareholder Conference Call
AmeraMex International will provide a shareholder update March 30 at 10:00 a.m. Pacific Time. The conference call dial-in number for both U.S. and international callers is 1.323.994.2083. Please dial in to the conference center five minutes before the call begins and ask the operator for the AmeraMex conference call.


Financials follow


AMERAMEX INTERNATIONAL, INC.
STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016
2017 2016
Revenue $ 8,845,924 $ 7,540,051
Cost of goods sold 4,539,179 5,192,793
Gross profit 4,306,745 2,347,258
Operating expenses:
Selling expenses 208,102 80,045
General and administrative 2,161,698 2,458,383
Stock-based compensation - 108,763
Total operating expenses 2,369,799 2,647,191
Income (loss) from operations 1,936,946 (299,933)
Other income (expense)
Interest expense (497,942) (438,239)
Other income 245,516 (486,657)
Total other income (expense) (252,426) (924,896)
Income (loss) before provision for income taxes 1,684,520 (1,224,829)
Provision for income taxes - 131,760
Net income (loss) $ 1,684,520 $ (1,356,589)
Weighted average shares outstanding:
Basic 753,415,879 754,890,879
Diluted 753,415,879 754,890,879
Earnings (loss) per share
Basic $ 0.00 $ (0.00)
Diluted $ 0.00 $ (0.00)


AMERAMEX INTERNATIONAL, INC.
BALANCE SHEET
AS OF DECEMBER 31, 2017
2017
ASSETS
Current Assets:
Cash and cash equivalents $ 553,267
Accounts receivable 672,607
Inventory, net 4,137,812
Other current assets 40,614
Total current assets 5,404,300
Furniture and equipment, net 3,960,337
Other assets 253,881
TOTAL ASSETS $ 9,618,518
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable $ 2,461,348
Accrued expenses 46,918
Deferred revenue 3,149,212
Income taxes payable 148,677
Line of credit 488,000
Notes payable, current portion 824,022
Notes payable - related party 371,350
Total current liabilities 7,489,527
Notes payable, net of current portion 1,660,284
TOTAL LIABILITIES 9,149,811
Commitments and contingencies (Note 8)
STOCKHOLDERS' EQUITY:
Common stock, $0.0001 par value, 1,000,000,000 shares authorized,
754,015,879 and 664,890,879 shares issued and outstanding 754,016
Additional paid-in capital 20,785,925
Treasury stock (10,438)
Accumulated deficit (21,060,796)
Total stockholders' equity 468,707
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 9,618,518



AMERAMEX INTERNATIONAL, INC.
STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016
2017 2016
OPERATING ACTIVITIES:
Net income (loss)
$ 1,684,520 $ (1,356,589)
Adjustments to reconcile net income to
net cash provided by operating activities:
Depreciation 670,149 523,080
Stock-based compensation - 108,763
Loss on settlement of debt - 497,500
Gain on sale of equipment - (31,535)
Change in current assets and liabilities:
Accounts receivable (594,057) 50,406
Inventory (2,560,336) (631,858)
Other assets 39,090 (25,507)
Accounts payable 127,238 161,383
Accrued expenses 38,087 28,610
Deferred revenue (878,415) 2,746,069
Income tax payable - (5,051)
Deferred tax liability - -
Net cash provided by operating activities (1,473,723) 2,065,271
INVESTING ACTIVITIES:
Payment for furniture and equipment
(318,318) (3,055,286)
Proceeds from sale of equipment
- 242,020
Net cash used in investing activities (318,318) (2,813,266)
FINANCING ACTIVITIES:
Proceeds from notes payable
3,220,437 790,336
Payments on notes payable
(2,065,101) (455,417)
Purchase of treasury stock
5,000 (6,438)
Proceeds from note payable - related party
3,724 -
Payment on note payable - related party
(53,858) (214,905)
Net proceeds (borrowing) under line of credit
42,089 44,891
Net cash provided by financing activities 1,152,292 158,467
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (639,749) (589,528)
CASH AND CASH EQUIVALENTS, BEGINNING BALANCE 86,482 -
CASH AND CASH EQUIVALENTS, ENDING BALANCE$ (553,267)$ (589,528)
CASH PAID FOR:
Interest$ 497,942 $ 438,239
Income taxes$ $ 224,666

AmeraMex International
AmeraMex International sells, leases and rents heavy equipment to companies within multiple industries including construction, logistics, mining, and lumber. The company also represents an inclusive product line of advanced performance tactical military vehicles from Oshkosh Defense, LLC. 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.

Except for the historical information contained herein, statements discussing sales or revenue projections are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements involve risks and uncertainties that could cause actual results to differ materially from any forward-looking statements made herein.

Investor and Media Relations
McCloud Communications, LLC
Marty Tullio, Managing Member
Office: 949.632.1900
Marty@McCloudCommunications.com

Source:AmeraMex International