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AmeraMex International Reports Second Quarter Revenue of $2.6 Million; $5.8 Million Revenue for the Six-Month Period

Second Quarter Conference Call August 24th at 11:00 a.m. Pacific Time


/EINPresswire.com/ -- CHICO, CA -- (Marketwired) -- 08/11/16 -- AmeraMex International, Inc. (OTC PINK: AMMX), a provider of heavy equipment to infrastructure, shipping, construction, farming and mining companies, today reported financial results for its second quarter ended June 30, 2016.

Highlights for the Six-month Period

  • SEC audit began and is expected to be completed in September 2016
  • Sales agreements signed in the second quarter were approximately $2.5 million
    • Received rental agreement totaling $100,000
    • Container handlers (wet and dry ports) contributed $1.8 million in sales
    • Farming equipment contributed approximately $135,000 in sales
    • Forklifts contributed (mainly to sawmills) approximately $560,000 in sales
  • Company received TRACE certification

Second Quarter Ended June 30, 2016
The company reported revenue of $2,575,732 compared to revenue of $1,278,008 for the second quarter of 2015. Net income for the quarter was $237,510 compared to net income of $252,799 for the second quarter of 2015. Gross profit, as a percentage of sales, was 36 percent compared to 63 percent for the comparable 2015 period.

Six-Month Period Ended June 30, 2016
Revenue for the six-month period was $5,818,813 compared to revenue of $2,213,206 reported for the comparable six-month period of 2015. Gross profit margin, as a percentage of sales, was 62 percent. The company reported net income of $1,421,038, compared to net income of $221,456 for the six-month period in 2015.

The conference call dial-in number for both U.S. and international callers is 1.719.457.2655. An audio replay of the conference call will be available from August 24, 2016 at 5:00 p.m. Eastern until September 7, 2016 at 11:59 p.m. Eastern. The replay can be accessed by dialing 1.858.384.5517 and entering conference pin number 1193466.

About AmeraMex International
AmeraMex International sells, leases and rents heavy equipment to companies within four industries: construction (light and infrastructure), shipping logistics, mining and commercial farming. AmeraMex International's largest product line is specialized container handling equipment that enables stevedoring companies to quickly and efficiently load and offload container and general freight ships dockside. AmeraMex, with customers in the Americas, Africa, Asia and Eastern Europe, has over 30 years of experience in heavy equipment sales and service and inventories top-of-the-line equipment from manufacturers such as Taylor Machine Works Inc. and Terex Heavy Equipment. For more information visit the AmeraMex website, www.AMMX.net.

Safe Harbor Statement
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.


                        AmeraMex International, Inc.
                     CONDENSED STATEMENT OF OPERATIONS
                                (UNAUDITED)


                        For the       For the    For the Six-  For the Six-
                      Three-month   Three-month  month Period  month Period
                     Period Ended  Period Ended     Ended         Ended
                       June 30,      June 30,      June 30,      June 30,
                         2015          2016          2015          2016

Sales                $  1,278,008  $  2,575,732  $  2,213,206  $  5,818,813

Cost of Sales             477,401     1,643,988       863,917     2,189,844

Gross Profit              800,307       931,744     1,349,290     3,628,969


Expenses:
  Operating               341.764             -       520,151             -
  Selling                       -        19,463             -        38,419
  G&A                     225.744       643,996      520,,835     1,603,454

Total Operating
 Expenses                 547,508       663,459     1,040,986     1,641,873

Net Income (loss)
 from Operations          252,799       268,285       308,304     1,987,096

  Other Income,
   Expense,
   Depreciation           (49,747)      (31,772)      (85,401)      (69,630)
  Other Expense                 -           997             -      (496,428)
  Provision for
   Income Tax               1,446             -         1,446        23,120

  Net Income (Loss)  $    201,606  $    237,510  $    221,456  $  1,397,918

  Basic Earnings
   (Loss) Per Share             0             0             0             0

Weighted Average
 Shares Outstanding   660,280,879   753,415,879   660,280,879   753,415,879

Diluted Earnings
 (Loss) Per Share               0             0             0             0



                        AmeraMex International, Inc.
              UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
                            Second Quarter 2016

CURRENT ASSETS

Cash and cash equivalents                                     $      77,032
  Accounts receivable                                               235,156
  Other Current Assets                                              166,075
  Inventory                                                       1,438,041

                                                              -------------
    Total current assets                                          1,916,304

PROPERTY AND EQUIPMENT
  Furniture and equipment, net                                    3,532,222
  Other assets                                                      153,090
                                                              -------------
    TOTAL ASSETS                                              $   5,601,616

CURRENT LIABILITIES

  Accrued Expenses                                                   37,263
  Accounts Payable                                                  378,784
  Income Tax Payable                                                118,338
  Line of Credit                                                    480,186
  Notes Payable - current                                           520,097
  Notes Payable - related parties                                   424,093

                                                              -------------
    Total current liabilities                                     1,958,761
                                                              -------------

Notes Payable net of current                                        588,252
                                                              -------------

    TOTAL LIABILITIES                                         $   2,547,013
                                                              -------------

STOCKHOLDER'S EQUITY
  Common stock                                                      754,016
  Additional paid in capital                                     20,774,825
  Accumulated deficit                                           (18,463,800)
  Treasury stock                                                    (10,438)
                                                              -------------
    Total Shareholder Equity                                  $   3,054,603
                                                              -------------

TOTAL LIABILITY AND SHAREHOLDER EQUITY                        $   5,601,616
                                                              -------------

Shares Issued and Outstanding         753.4 Million
Restricted                            664.9 Million



                        AMERAMEX INTERNATIONAL, INC.
                          STATEMENTS OF CASH FLOWS
                   FOR THE SIX MONTHS ENDED JUNE 30, 2016
                                (UNAUDITED)

OPERATING ACTIVITIES:
  Net income                                                  $   1,397,918
  Adjustments to reconcile net income to net cash provided by
   operating activities:
      Depreciation                                                  225,884
      Stock-based compensation                                       97,663
      Loss on settlement of debt for common stock                   497,500
    Change in current assets and liabilities:
      Accounts receivable                                            (2,199)
      Inventory                                                     141,488
      Other assets                                                 (104,021)
      Accounts payable                                             (663,940)
      Accrued expenses                                               12,388
      Income tax payable                                           (118,338)
                                                               ------------
  Net cash provided by operating activities                       1,484,343
                                                               ------------

INVESTING ACTIVITIES:
    Payment for furniture and equipment                          (2,058,410)
                                                               ------------
  Net cash used in investing activities                          (2,058,410)
                                                               ------------

FINANCING ACTIVITIES:
    Proceeds from note payable, net                                 114,298
    Repayment of note payable - related party                      (212,295)
    Net proceeds (borrowing) under line of credit                    79,166
    Purchase of treasury stock                                       (6,438)
                                                               ------------
  Net cash used in financing activities                             (25,269)
                                                               ------------

NET DECREASE IN CASH                                               (599,336)
CASH, BEGINNING BALANCE                                             676,368
                                                               ------------
CASH, ENDING BALANCE                                          $      77,032
                                                               ============
CASH PAID FOR:
Interest                                                      $      69,630
                                                               ============

SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:
Common stock issued for the settlement of accounts payable    $      30,000
                                                               ============
Common stock issued for the settlement of notes party -
 related party                                                $      50,000
                                                               ============

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