Chico, California--(Newsfile Corp. - November 27, 2024) - AmeraMex International, Inc. (OTC Pink: AMMX), a provider of heavy equipment for logistics companies, infrastructure construction and forestryconservation, 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.comfor 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.
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