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AMERAMEX INTL INC COM USD0.001 (OTCMKTS:AMMX) Is Today's Penny Stock Focus

AMERAMEX INTL INC COM USD0.001 (OTCMKTS:AMMX) Is Today's Penny Stock Focus
Written by
Jarrod Wesson
Published on
September 18, 2017
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AMERAMEX INTL INC COM USD0.001 (OTCMKTS: AMMX), which manufactures heavy equipment in California, is the latest company that has recently drawn the attention of the market.Why?First of all, because of the large share price spike seen in the beginning of September. The price jumped from $0.058 to approximately $0.015 in several days, and then crashed surprisingly. Additionally, the amount of shares exchanged, more than 30 million some days, was astonishing as well. Have look at it: 1 year chart for AMMXBut, what happened?Several news items, including new equipment orders and acquisitions, seemed to have excited the market in August and September. We will provide all the details in this piece.BusinessAmeraMex International Inc. is manufacturer and supplier of heavy equipment. The company was founded and incorporated in 1989 and is headquartered in California, US. The customer base for AmeraMex largely includes logistics companies, infrastructure construction companies, and military organizations.The initial name of the company was Hamre Equipment and was a private company based in Chico, California. It was not until its merger with Hamre Equipment, Inc. in 2006 when its shares commenced to trade. According to the documents given to the OTC Markets, as of today, the company’s geographical reach includes the America, Africa, Asia, and Eastern Europe.Recent DevelopmentsA press release on August 15, 2017 spoke about AmeraMex International Inc. receiving an equipment order that is worth $500,000. Taylor Forklifts placed the order. AmeraMex intends to deliver the order to a saw mill in California.Furthermore, the press release on August 18, 2017 briefed about the revenue report provided by AmeraMex International Inc. AmeraMex reported revenue of $1,162,671 and a loss of $244,969 for the second quarter ended June 30, 2017. AmeraMex pointed out normal seasonality as the reason for the loss. For the same period, the company reported an increase of $168,983 in rental income. In addition to that, there was another press release, released on August 18, 2017, itself stating that there have been corrections in the statement of cash flows for the second quarter. The corrections, however, were minor and did not make a huge impact on the net revenue and income of AmeraMex. We appreciated the correction, as they seem to note that the company is honest while preparing the financial statements.The recent press release made on September 12, 2017 reported equipment orders worth $1 million received by AmeraMex International Inc. The order placed is for Taylor Forklifts and farming equipment. The company plans make delivery to its customers in Northern California, Oklahoma, and Washington some time this month or next.The press release shared the future intentions of the company as well. AmeraMex International Inc. has planned to improve the communication between shareholders and management. Better communication with shareholders has become a necessity now. We appreciate the efforts and believe that the market will function much better now, as news has a big impact on company's share price.Finally, on September 14, 2017, a new press release was received by the market, wherein the company noted the acquisition of a group of Tier 4 empty and loaded container handlers worth $1.5 million. We celebrate the news and believe that the market will also do so. It really noted again that the business is going in the right direction and is expanding through the acquisition of new assets.ConclusionCurrently trading with a market cap of $5.2 million and 754,815,879 shares outstanding, AMMX is an exciting story among small caps. With $2.2 million in inventory, $3.1 million in properties, but $3.3 million in total liabilities, it seems that the market is pushing up the share price, because the most recent news have been very satisfactory. The recent pullback looks to be just profit taking as we see no fundamental change in the company's business. Overall, there's a lot to like with AMMX and it's a penny stock to keep on one's radar.We will be updating our subscribers as soon as we know more. For the latest updates on AMMX, sign up below!Image courtesy of knnbccb FlickrDisclosure: We have no position in AMMX and have not been compensated for this article.

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