Ameramex International Inc

CIK:0001776048|SEC Filings

UNAUDITED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
UNAUDITED STATEMENTS OF OPERATIONS - USD ($)	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
REVENUES
Total Sales	$ 7,484,740	$ 8,180,273	$ 14,814,894	$ 18,509,920
COST OF SALES
Total Cost of Sales	4,953,210	7,365,012	10,613,463	15,552,524
GROSS PROFIT	2,531,530	815,261	4,201,431	2,957,396
OPERATING EXPENSES
Selling Expense	441,216	203,100	994,721	627,021
General and Administrative	386,505	269,029	989,114	743,259
Total Operating Expenses	827,721	472,129	1,983,835	1,370,280
Profit from Operations	1,703,809	343,132	2,217,596	1,587,116
OTHER INCOME (EXPENSE)
Interest Expense, net	(275,793)	(208,967)	(549,924)	(743,999)
Loss from Early Extinguishment of Debt	(18,021)	(20,373)	(33,366)	(110,551)
Gain on Sale of Asset	215,624		215,624
Other Income (Expense)	(174,292)	3,500	175,842	14,342
Total Other Income (Expense)	(252,481)	(225,840)	(191,823)	(840,208)
INCOME BEFORE PROVISION for INCOME TAXES	1,451,328	117,292	2,025,773	746,908
PROVISION for INCOME TAXES	522,478	34,601	598,264	220,338
NET INCOME	$ 928,850	$ 82,691	$ 1,427,509	$ 526,570
Weighted Average Shares Outstanding:
Basic	14,829,155	14,629,155	14,829,155	14,629,155
Diluted	14,829,155	14,629,155	14,829,155	14,629,155
Earnings (loss) per Share
Basic	$ 0.05	$ 0.01	$ 0.09	$ 0.04
Diluted	$ 0.05	$ 0.01	$ 0.09	$ 0.04
Sales Of Equipment And Other Revenues [Member]
REVENUES
Total Sales	$ 7,303,783	$ 7,591,527	$ 13,904,722	$ 16,494,253
COST OF SALES
Total Cost of Sales	4,845,129	7,169,018	10,197,658	14,922,284
Rentals And Leases [Member]
REVENUES
Total Sales	180,957	588,746	910,172	2,015,667
COST OF SALES
Total Cost of Sales	$ 108,081	$ 195,994	$ 415,805	$ 630,240

UNAUDITED STATEMENTS OF CASH FLOW - USD ($)	9 Months Ended
UNAUDITED STATEMENTS OF CASH FLOW - USD ($)	Sep. 30, 2022	Sep. 30, 2021
OPERATING ACTIVITIES:
Net Income	$ 1,427,509	$ 526,570
Adjustments to reconcile Net Income to Net Cash provided (used) by Operating Activities:
Depreciation and Amortization	562,569	725,711
Provision for Deferred Income Taxes	534,576	62,214
Marketing Services Paid in Stock	71,000	46,400
Loss on Early Extinguishment of Debt	33,366	110,551
Amortization of Right of Use Asset	19,797
Gain/Loss on Disposal	(215,625)
Amortization and Accretion of Interest	27,876	106,552
Change in Assets and Liabilities:
Accounts Receivable	(1,884,657)	(635,287)
Inventory	(1,690,298)	1,476,799
ROU Asset	(808,928)
Other Current Assets	71,016	(29,093)
Accounts Payable	174,386	1,375,444
Customer Deposits	53,522
Accrued Expenses	13,727	23,589
Lease Liability	808,928
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES	(801,236)	3,789,450
INVESTING ACTIVITIES:
Payments for Property & Equipment	(408,199)	(156,502)
Payments for Rental Equipment	(233,347)	(436,709)
Proceeds from Sale of Equipment	360,000
NET CASH (USED) BY INVESTING ACTIVITIES	(281,546)	(593,210)
FINANCING ACTIVITIES:
Proceeds from Notes Payable	2,117,692	2,081,198
Payments on Notes Payable	(1,370,027)	(2,824,788)
Payment on Note Payable - Related Party		(226,007)
Joint Venture Liability	105,003	(229,500)
Net Borrowing (Repayments) Under Lines of Credit	(406,818)	(1,480,862)
NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES	445,850	(2,679,959)
NET INCREASE (DECREASE) IN CASH & CASH EQUIVALENTS	(636,932)	516,281
Cash and Cash Equivalents, BEGINNING OF PERIOD	995,611	407,881
Cash and Cash Equivalents, END OF PERIOD	358,679	924,162
CASH PAID FOR:
Interest	564,478	599,030
Income Taxes	800
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Transfer of Inventory to Rental Equipment		508,000
Equipment Financed under Capital Leases		178,027
Transfer of Rental Equipment to Inventory	$ 563,750	$ 964,600

UNAUDITED BALANCE SHEETS - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Current Assets:
Cash	$ 358,679	$ 995,611
Accounts Receivable, Net	3,046,957	1,162,300
Inventory, Net	7,439,912	5,185,864
Other Current Assets	241,947	312,963
Total Current Assets	11,087,495	7,656,738
Property and Equipment, Net	1,293,717	1,275,717
Rental Equipment, Net	800,261	1,461,716
Lease Right of Use Asset	808,928
Other Assets	358,806	391,330
Total Other Assets	3,261,712	3,128,763
TOTAL ASSETS	14,349,207	10,785,501
Current Liabilities:
Accounts Payable	734,462	560,076
Accrued Expenses	278,261	264,534
Customer Deposits	355,522	302,000
Joint Venture Liability	247,503	142,500
Lines of Credit	1,367,358	3,180,968
Notes Payable, Current Portion	1,062,604	777,601
Lease Liability	129,081
Total Current Liabilities	4,174,791	5,227,679
Long-Term Liabilities
Deferred Tax Liabilities, Net	1,123,368	588,792
Notes Payable, Net of Current Portion	3,593,015	1,689,353
Lease Liability, Net of Current Portion	679,847
Total Long-Term Liabilities	5,396,230	2,278,145
TOTAL LIABILITIES	9,571,021	7,505,824
Commitments and Contingencies (Note 11)
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 14,829,155 and 14,629,155 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively.	14,829	14,629
Additional Paid-In Capital	21,671,534	21,600,734
Accumulated Deficit	(16,908,177)	(18,335,686)
Total Stockholders’ Equity	4,778,186	3,279,677
TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY	$ 14,349,207	$ 10,785,501