SOURCE: AmeraMex International
CHICO, CA--(Marketwired - Feb 14, 2014) - AmeraMex International, Inc. (PINKSHEETS: AMMX), a provider of heavy equipment to infrastructure, shipping, construction and farming companies announced that it will be holding a shareholder conference call today at 9:30 a.m. Pacific Time, 12:30 p.m. Eastern Time. CEO Lee Hamre commented, "We have a growing list of new shareholders that have read our past news releases but have not participate in past shareholder conference calls; this has generated many questions regarding the status of several projects and potential opportunities. We will provide an in depth project update in today's conference call."
- Revenue and income projections
Management projects revenue of approximately $5.8 million compared to revenue of $3.4 million reported for 2012 and net income of approximately $500,000 (before possible adjustments) compared to net income of $276,000 for 2012. The company will be reporting 2013 financial results before March 31, 2014.
- SEC audit status
The company is interviewing new auditing firms in the Bay area that have a good understanding of our industry. Management will not renew the audit process until they have all the monies set aside to complete the audit in a timely manner.
- Update on Niger activities/opportunities
Management returned from both China and Niger two weeks ago. The pricing has been negotiated and financing in place from Chinese equipment companies. Management will be returning to Niger to present a proposal for the initial project, a $200 million fleet of trucks, before the end of February. The company has been asked to provide proposals for a solar energy project as well as a 'dry' port project.
- $4 million project in Peru
The project in Peru has not been funded.
- Order delays for farming and railroad project
While management and its partners continue an ongoing dialogue with responsible agencies, the railroad construction project has been delayed for at least two years; therefore, management is focused of projects closer to being finalized.
- Project funding
Management is working with a New York-based financing company and Chinese-based equipment financing groups.
- Crude oil project
Management is collaborating with an oil drilling company with the goal of forming an alliance with the government of The Congo for in-country drilling of crude oil.
- African partners
The company's partners are local businesses in both The Congo and Niger. These partners are AmeraMex's connection to the government officials in these areas. Management has visited both countries on two occasions and believes they are close reaching an agreement on more than one project.
- U.S. marketplace for sales and rental
The U.S. market for new equipment has shown some growth but the rental market is beginning to take off as construction companies prefer rental of necessary equipment versus capital outlay.
- $2 million equipment bid from U.S. port
The bid has not been awarded as all ports within the purchasing group must be in agreement and have monies allocated to purchase the equipment.
- Progress marketing refurbished equipment
The market for refurbished equipment continues to grow and all but seven of the 18 refurbished container handlers purchased in September 2013 have been sold.
- Acquisition strategy
Management had identified several candidates for an acquisition/merger strategy to provide diverse equipment and to support and expand sales territories. When the U.S. economy began to falter, a decision was made to forego the acquisition strategy and put energies into expanding the company's international presence in resource-rich countries.
Today's call is scheduled for 9:30 a.m. Pacific Time, 12:30 p.m. Eastern Time. All shareholders and members of the investment community are cordially invited to participate in the conference call. The conference call dial-in number for both U.S. and international callers is 1-480-629-9664. Please dial in to the conference five minutes before the call is scheduled to begin and ask the operator for the AmeraMex conference call, ID 4660652.
An audio replay of the conference call will be available from February 14, 2014 at 3:30 p.m. Eastern until February 28, 2014 at 11:59 a.m. Eastern. The replay can be accessed by dialing 1-858-384-5517 and entering conference pin number 4660652.
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 maintains an inventory of top-of-the-line equipment and parts from manufacturers such as Taylor Machine Works Inc. and Terex Heavy Equipment. For more information visit the AmeraMex website, www.AMMX.net or www.hamreequipment.com.
Safe Harbor Statement
Except for the historical information contained herein, the matters discussed are forward-looking statements 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.