Monday, June 27, 2022

Interesting Jump Upward for AMERAMEX INTL INC COM USD0.001 (OTCMKTS:AMMX)

AMERAMEX INTL INC COM USD0.001 (OTCMKTS:AMMX) has been on many OTC traders’ watch list this week. The stock jumped about at about noon on Tghursday and has been taking some steps upward today as well. AMMX as its stands is up 110% since yesterday.
Less than a month ago, AMMX received a $500,000 order from Taylor Forklifts. The forklifts will ship to a sawmill in Northern California. However, the company received disappointing returns for the 2nd quarter shortly after this purcahse order. So, it is a little unclear about what could be buoying the stock upward. However, there are rumors that the company is projecting $10,000,000 in assets by next year, while current assets are two time the current market value.
AMERAMEX INTL INC COM USD0.001 (OTCMKTS:AMMX) sells, leases and rents top-of-line heavy equipment to companies within multiple industries including construction (light and infrastructure), logistics, mining, and sawmill.  The company has added an inclusive product line from Oshkosh Defense, LLC, of advanced performance tactical military vehicles marketed to certain African countries.  AmeraMex, with a US and international customer base, has over 30 years of experience in heavy equipment sales and service.
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Here is a breakdown of the company’s recent financial returns:
Revenue for the six-month period was $2,710,373 compared to revenue of $5,818,813 reported for the comparable six-month period of 2016. Gross profit margin, as a percentage of sales, was 43 percent. The company reported net loss of $(246,618), compared to net income of $1,397,918 for the six-month period in 2016.
The loss was due in part to cost of goods (equipment) increasing almost 100 percent, from approximately $600,000 to $1.2 million, through the purchase of rental equipment that is now beginning to produce rental income or offset the COGs; doubling of the parts inventory; the addition of employee health insurance; and an increase in legal fees that in July 2017, netted the company approximately $500,000.
Revenue for the first six months of 2016 was unusually high due to a large one-time shipment of equipment to a customer in Africa.  Generally, equipment is ordered during the last six months of the year to arrive for spring and summer construction and agriculture projects.
AMERAMEX INTL INC COM USD0.001 (OTCMKTS:AMMX) is a company that many should be watching over the next days and weeks. The company has an audit about to finish and probable news on the horizon that could continue to upwardly impact share price. AMMX has a market cap of $3.85M and 388.86M shares outstanding. Sign-up for continuing coverage on shares of $AMMX stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: We hold no position in $AMMX, either long or short, and we have not been compensated for this article.

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