ORCA
3 weeks ago
AmeraMex CEO Lee Hamre commented, "During yesterday's shareholder's conference call, I was asked to give revenue guidance for the fourth quarter. We currently have booked over $4.0 million in revenue and expect to ship another 13 machines before the end of the year, making the fourth quarter the best of the year. As we mentioned in the conference call, based on feedback from our customers after the recent elections, 2025 is expected to a good year for their business which will benefit AmeraMex."
AmeraMex Fourth Quarter Shaping Up with Over $4.0 Million in Revenue
Press Release | 11/27/2024
Chico, California--(Newsfile Corp. - November 27, 2024) - AmeraMex International, Inc. (OTC Pink: AMMX), a provider of heavy equipment for logistics companies, infrastructure construction and forestry conservation, announced that it currently has over $4.0 million in revenue for the fourth quarter which ends December 31, 2024.
AmeraMex CEO Lee Hamre commented, "During yesterday's shareholder's conference call, I was asked to give revenue guidance for the fourth quarter. We currently have booked over $4.0 million in revenue and expect to ship another 13 machines before the end of the year, making the fourth quarter the best of the year. As we mentioned in the conference call, based on feedback from our customers after the recent elections, 2025 is expected to a good year for their business which will benefit AmeraMex."
During the Third Quarter Financial conference call, there was a discussion about a one-time reserve charge to inventory which, in turn, significantly increased the Cost of Goods Sold for the quarter. The following explanation will explain the situation:
The Inventory Reserve is a contra-asset account on a company's balance sheet. It is made in anticipation of inventory that will not be sold. An inventory reserve is established to account for potential losses in inventory value due to factors like damage, spoilage, obsolescence, or simply being unable to sell certain inventory. Essentially, it creates a buffer to prevent overstating the value of a company's assets on financial statements and is compliant with both SEC regulations and Generally Accepted Accounting Principles (GAAP).
The contra account changes each quarter. When inventory is lower, the adjustment is reduced when inventory is higher, the adjustment increases. Companies cannot guarantee that all parts and inventory can be sold, the assets (inventory) are reduced by a percentage so as not to overstate the company's position. This is a compromise used instead of writing off parts and machines that are old but at some point, may be sold.
Additionally, there was discussion regarding the financial statements for the Company's second quarter ended June 30, 2024. The statements are correct as stated. If there are additional questions, please call or email the Company's Investor and Media Relations Council.
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 Statements
ORCA
4 weeks ago
I MISSED THIS NEWS YESTERDAY.WOW.
https://www.otcmarkets.com/stock/AMMX/news/AmeraMex-Fourth-Quarter-Shaping-Up-with-24-Million-in-New-Orders?id=460219
AmeraMex Fourth Quarter Shaping Up with $2.4 Million in New Orders
Press Release | 11/25/2024
Chico, California--(Newsfile Corp. - November 25, 2024) - AmeraMex International, Inc. (OTC Pink: AMMX), a provider of heavy equipment for logistics companies, infrastructure construction and forestry conservation, announced that it has received equipment orders totaling $2.4 million.
AmeraMex CEO Lee Hamre commented, "We are pleased with the revenue growth for our third quarter and nine-month period and are focusing on making our fourth quarter the best. We expect a strong finish for the year and based on customer input, a good 2025."
Orders for last week consisted of the following machines:
A new Taylor Equipment XRS9972 Reach Stacher. The Stacker is going to a logistics company in Utah. This logistics company specializes in managing the transportation of goods from one place to another efficiently and effectively via various modes of transportation, including road and rail.
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Taylor Reach Stacker
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https://images.newsfilecorp.com/files/10200/231277_296c1e64c4535af0_001full.jpg
Two refurbished Taylor Equipment XRS9972 Reach Stackers shipping to a container yard in Southern California.
Two LiuGong Excavators shipping to a West Coast construction company.
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LiuGong Excavator
To view an enhanced version of this graphic, please visit:
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A refurbished Taylor Equipment Empty Container Handler shipping to a customer in Oakland, CA.
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Taylor Empty Container
To view an enhanced version of this graphic, please visit:
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For more information and pricing of equipment for the logistics, construction, and forestry industries, or to book a demonstration of the Firstgreen Industries' electric skid steer loaders, ASV Posti-Tract and Skid Steer Loaders, Menzi Muck Excavators, or a Magni Telescopic Handler, contact the AmeraMex/Hamre Equipment sales team at 530.895.8955.
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 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 key 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 OTC Markets. 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 the actual results could differ materially from those anticipated in these forward-looking statements, even if added 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
nsomniyak
4 weeks ago
The explanation of the accounting adjustment, as follows, struck me as odd;
The increase in COGS for sales revenue was due in part to a reserve journal entry that had to be made to the Inventory. This accounting adjustment, 25 percent of the value of equipment inventory and 50 percent of the value of parts inventory, was made to cover any possible miscounts or errors in the inventory records. The adjustment made for the nine-month period ended September 30, 2024, which was just over $3.1 million, reduced inventory while increasing COGS in the third quarter.
This implies they may have miscounted their inventory by as much as 25% or even 50% (highly unlikely imho - nobody miscounts that badly!) or that there were other significant errors in their inventory valuation. Definitely poor controls somewhere there.
The good news is that this is a non-cash item - it hits earnings (and diminishes long term assets on the balance sheet as inventory is revalued downward) but doesn't impact cash or cash flow at all.
ORCA
4 weeks ago
WHAT AN ABSOLUTE SHIT SHOW.THE CC TODAY.I JUST LISTENED TO IT NOW.EVERYONE SHOULD
CALL THE NUMBER FOR REPLAY OF CC.AND LISTEN TO IT ALL THE WAY TO THE LAST NOTE OF LEE.ABOUT Q4 AND WHAT 2025 WILL LOOK LIKE.TWO PEOPLE THAT ASKED QUESTIONS WERE FURIOUS WITH THE NUMBERS.
WRONG NUMBERS IN REVENUES Q2.LOOKS LIKE THEY ARE GOING TO HAVE TO CHANGE THE NUMBERS.
THEY WERE DISAGREING,BACK AND FORTH.READ BOLD.WHAT KIND OF BS IS THIS??THE AUDITORS TOLD THEM TO TAKE THE CHARGE. THIS REPORT IS UNREAL.WHAT A NIGHTMARE.OVER 1,4 MILLION IN VOLUMES TODAY.WITH A LOW OF .16 AND HIGH OF AROUND .48.AS SOON AS INVESTORS READ THIS REPORT.THEY WERE RUNNING TOWARDS THE EXITS.PLEASE LISTEN TO THE CC.UNREAL.THE MANAGEMENT ARE TOTAL IDIOTS.INVESTORS LOST THEIR SHIRTS TODAY.I TOOK A HIT TOO. I HAD 50K BUY AT .355.AND GOT FILLED.AND THEY FILLED IT.WHEN I READ THE REPORT I WAS FURIOUS.THERE WILL BE PAY BACK IN THE MOST ENORMOUS WAY.
AmeraMex conference call. An audio replay of the call will be available from November 25, 2024, at 5:00 p.m. ET until December 9, 2024, at 11:59 p.m. ET. The replay is accessible by dialing 1.412.317.6671 and entering pin number 13750228.
AmeraMex International Reports Third Quarter and Nine-Month Financials for the Period Ended September 30, 2024
Newsfile Corp.
Newsfile Corp
AmeraMex CEO is Hosting a Shareholder Conference Call November 25, 2024, at 9:00 a.m. PT
Chico, California--(Newsfile Corp. - November 25, 2024) - AmeraMex International, Inc. (OTC Pink: AMMX), a provider of heavy equipment for logistics companies, infrastructure construction, and forestry conservation, reports financial results for its third quarter and nine-month period ended September 30, 2024.
While the Company's revenues were up 61 percent for the third quarter and 34 percent for the nine-month period ended September 30, 2024, Cost of Goods Sold (COGS) for the quarter significantly increased when compared to the second quarter ended June 30, 3024 and for the comparable third quarter ended September 20, 2023.
The increase in COGS for sales revenue was due in part to a reserve journal entry that had to be made to the Inventory. This accounting adjustment, 25 percent of the value of equipment inventory and 50 percent of the value of parts inventory, was made to cover any possible miscounts or errors in the inventory records. The adjustment made for the nine-month period ended September 30, 2024, which was just over $3.1 million, reduced inventory while increasing COGS in the third quarter.
COGS associated with rental revenues is based on the depreciation of long-term rental equipment. A combination of issues occurred:
Rental equipment was purchased and delivered but not on rent long enough to generate revenue/create a receivable.
Since the equipment isn't sold but rented, the Company uses depreciation, an internal accounting figure, to offset the COGS. This means that the cost of the equipment being used (depreciated) is accounted for as a COGS rather than recording the equipment's full purchase cost up front.
According to the Company's CEO Lee Hamre, these are one-time adjustments that affected the third quarter and will not be affect the Company's fourth quarter.
Statement of Operations for the Quarter Ended September 30, 2024
The Company reported revenue of approximately $1.9 million versus revenue of $1.2 million for the comparable 2023 quarter.
Gross loss for the quarter was ($1.2 million), compared to gross profit of $371,206 for the comparable 2023 quarter.
Loss from operations was ($1.4 million) for the quarter, compared to a profit from operations of $199,328 for the comparable 2023 quarter.
Net loss for the quarter was ($1.1 million) compared to net loss of ($32,623) for the comparable 2023 quarter.
Loss per share was ($0.07) for the quarter compared to earnings per share of $0.00 for the comparable 2023 quarter.
Statement of Operations for the Nine-Month period Ended September 30, 2024
The company reported revenue of approximately $9.0 million versus revenue of $6.7 million for the comparable 2023 period.
Gross profit for the period was $1.2 million compared to gross profit of $1.9 million for the comparable 2023 period.
Profit from operations was $18,585 for the nine-month period, compared to profit from operations of $438,528 for the comparable 2023 nine-month period.
Net loss for the nine-month period was ($478,790) compared to a net loss of ($48,122) for the comparable nine-month period of 2023.
Loss per share was ($0.03) for the period compared to earnings per share of $0.00 for the comparable nine-month period of 2023.
Balance Sheet for the Nine-Month Period Ended September 30, 2024
Total Assets were $20.1 million, a $2.2 million increase due in part to a $4.0 million increase in rental equipment.
Total Liabilities were $17.2 million, a $2.8 million increase due in part to an increase in the Company's notes payable.
Please join the Company's management team November 25 at 9:00 a.m. PT for a shareholder update. The conference call dial-in number for both U.S. and international callers is 1.201.689.8560. Please dial 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 25, 2024, at 5:00 p.m. ET until December 9, 2024, at 11:59 p.m. ET. The replay is accessible by dialing 1.412.317.6671 and entering pin number 13750228.
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