Allan Cohen's questions to Ameramex International (AMMX) leadership • Q2 2022
Question
Allan Cohen of B&C Financial questioned a discrepancy in the company's pro forma financial figures, noting that the entire value of delayed sales revenue appeared to be added to gross profit without accounting for the cost of goods sold for both the quarter and six-month periods.
Answer
CFO Hope Stone, with CEO Lee Hamre, acknowledged the error in the calculation. Stone explained that the cost of goods sold was not subtracted from the potential revenue figure when calculating the adjusted gross profit. She confirmed that the company would issue a revised news release to correct the figures.