AmeraMex International, Inc. (OTC:AMMX), a provider of heavy equipment for logistics companies, infrastructure construction and forestry conservation, announced that it has informed the OTC Market System that the Company has elected to move from the OTCQB to the OTC Pink Market. This move will be effective today, April 4, 2023.
AmeraMex CEO Lee Hamre commented, “We did not make the decision to move from the OTCQB to the OTC Pink Market lightly, both the Board and management team are disappointed as we fought hard to become a fully reporting company. We believe that becoming a fully reporting would provide the Company with greater exposure to the financial community and retail investors. This exposure, along with continued revenue growth would increase the Company’s stock price, which would provide a means to raise monies to finance our growth plans and acquisition strategy. Unfortunately, that did not happen and instead, it has increased our costs for legal and auditing, etc., to over $250,000+ annually, or $960,000 since 2019. This is money that could have helped strengthen our balance sheet and improve our bottom line.
“We have had conversations with several groups, attended financial conferences both digitally and in person, and the end result was to spend thousands of dollars monthly on marketing campaigns to hopefully, no guarantees, increase the stock price through expanded visibility, or to deal with groups that offered money at a incomprehensible cost to the company and its shareholder for raising small amounts of money that wouldn’t make a dent in the amount needed finance our growth plans.
“We will continue to provide transparency to our shareholders through news releases, quarterly conference calls and updates to our OTC profile and disclosure documents and, of course, conversations with our shareholders,” said Hamre.
Hamre concluded, “If, in the future, we find ourselves in the position to clearly benefit from being a fully reporting company, we will most certainly take it under consideration.”
About AmeraMex International
AmeraMex International sells, leases and rents heavy equipment to companies within multiple industries including construction, logistics, mining, and lumber. AmeraMex, with a US and international customer base, 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.com for additional information and equipment videos.
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 Securities and Exchange Commission. 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 actual results could differ materially from those anticipated in these forward-looking statements, even if added information becomes available in the future.