(NewsDirect)
AmeraMex International, Inc.(OTC:AMMX), a provider of heavy equipment for logistics companies,infrastructure construction and forestry conservation, announced thatit has informed the OTC Market System that the Company has elected tomove from the OTCQB to the OTC Pink Market. This move will beeffective today, April 4, 2023.
AmeraMex CEO Lee Hamre commented, “We did not make thedecision to move from the OTCQB to the OTC Pink Market lightly, boththe Board and management team are disappointed as we fought hard tobecome a fully reporting company. We believe that becoming a fullyreporting would provide the Company with greater exposure to thefinancial community and retail investors. This exposure, along withcontinued revenue growth would increase the Company’s stock price,which would provide a means to raise monies to finance our growthplans and acquisition strategy. Unfortunately, that did not happenand instead, it has increased our costs for legal and auditing, etc.,to over $250,000+ annually, or $960,000 since 2019. This is money thatcould have helped strengthen our balance sheet and improve our bottomline.
“We have had conversationswith several groups, attended financial conferences both digitally andin person, and the end result was to spend thousands of dollarsmonthly on marketing campaigns to hopefully, no guarantees, increasethe stock price through expanded visibility, or to deal with groupsthat offered money at a incomprehensible cost to the company and itsshareholder for raising small amounts of money that wouldn’t make adent in the amount needed finance our growth plans.
“We will continue to providetransparency to our shareholders through news releases, quarterlyconference calls and updates to our OTC profile and disclosuredocuments and, of course, conversations with our shareholders,” saidHamre.
Hamre concluded, “If, inthe future, we find ourselves in the position to clearly benefit frombeing a fully reporting company, we will most certainly take it underconsideration.”
About AmeraMexInternational
AmeraMex International sells, leases and rentsheavy equipment to companies within multiple industries includingconstruction, logistics, mining, and lumber. AmeraMex, with a US andinternational customer base, has over 30 years of experience in heavyequipment sales and service. Follow AmeraMex on Twitter @ammx_intl andvisit the AmeraMex website, www.AMMX.net or www.hamreequipment.com foradditional information and equipment videos.
Forward-LookingStatements
This press release contains forward-lookingstatements. All statements other than statements of historical factsincluded in this press release are forward-looking statements. In somecases, forward-looking statements can be identified by words such as"believe," "expect," "anticipate,""plan," "potential," "continue" or similarexpressions. Such forward-looking statements include risks anduncertainties, and there are key factors that could cause actualresults to differ materially from those expressed or implied by suchforward-looking statements. Investors are encouraged to review theCompany’s filings with the Securities and Exchange Commission.Investors should not place any undue reliance on forward-lookingstatements since they involve known and unknown, uncertainties andother factors which are, in some cases, beyond the Company’s controlwhich could, and likely will, materially affect actual results, levelsof activity, performance or achievements. Any forward-lookingstatement reflects the Company’s current views with respect tofuture events and is subject to these and other risks, uncertaintiesand assumptions relating to operations, results of operations, growthstrategy and liquidity. The Company assumes no obligation to publiclyupdate or revise these forward-looking statements for any reason, orto update the reasons actual results could differ materially fromthose anticipated in these forward-looking statements, even if addedinformation becomes available in the future.
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