Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2019 | Nov. 12, 2019 | |
Document And Entity Information | ||
Entity Registrant Name | Ameramex International Inc | |
Entity Central Index Key | 0001776048 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2019 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 000-56054 | |
Entity Incorporation State Code | NV | |
Title of 12(b) Security | Common Stock | |
Trading Symbol | AMMX | |
Entity Reporting Status Current | No | |
Entity Interactive Data Current | Yes | |
Entity Shell Company | false | |
Entity Filer Category | Non-accelerated Filer | |
Entity Smaller Reporting Company | true | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Common Stock, Shares Outstanding | 753,415,879 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2019 |
BALANCE SHEETS (UNAUDITED)
BALANCE SHEETS (UNAUDITED) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Current Assets: | ||
Cash | $ 131,622 | $ 197,752 |
Accounts Receivable, Net | 614,772 | 631,805 |
Inventory | 5,115,991 | 2,689,642 |
Other Current Assets | 251,665 | 289,060 |
Total Current Assets | 6,114,050 | 3,808,259 |
Property and Equipment, Net | 1,002,205 | 988,552 |
Rental Equipment, Net | 4,068,354 | 4,679,122 |
Other Assets | 453,703 | 234,074 |
Total Noncurrent Assets | 5,524,262 | 5,901,748 |
TOTAL ASSETS | 11,638,312 | 9,710,007 |
Current Liabilities: | ||
Accounts Payable | 1,119,755 | 1,309,032 |
Accrued Expenses | 221,399 | 118,291 |
Notes Payable, Current Portion | 30,000 | 296,618 |
Total Current Liabilities | 1,371,154 | 1,723,941 |
Long-Term Liabilities | ||
Deferred Tax Liability | 301,676 | 301,680 |
Notes Payable - Related Party | 320,205 | 353,643 |
Notes Payable, Net of Current Portion | 485,135 | 4,316,233 |
Line of Credit | 6,665,048 | 774,456 |
Total Noncurrent Liabilities | 7,772,064 | 5,746,012 |
TOTAL LIABILITIES | 9,143,218 | 7,469,953 |
STOCKHOLDERS' EQUITY: | ||
Preferred Stock, $0.001 par value, 5,000,000 shares authorized, no shares issued and outstanding | ||
Common Stock, $0.001 par value, 1,000,000,000 shares authorized 753,415,879 shares issued and outstanding at September 30, 2019 and December 31, 2018 | 753,416 | 753,416 |
Additional Paid-In Capital | 20,781,087 | 20,785,924 |
Treasury Stock | (4,837) | |
Accumulated Deficit | (19,039,409) | (19,294,449) |
Total Stockholders' Equity | 2,495,094 | 2,240,054 |
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY | $ 11,638,312 | $ 9,710,007 |
BALANCE SHEETS (UNAUDITED) (Par
BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares | Sep. 30, 2019 | Dec. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Preferred Stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred Stock, authorized | 5,000,000 | 5,000,000 |
Preferred stock, issued | 0 | 0 |
Preferred stock, outstanding | 0 | 0 |
Common Stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common Stock, authorized | 1,000,000,000 | 1,000,000,000 |
Common Stock, issued | 753,415,879 | 753,415,879 |
Common Stock, outstanding | 753,415,879 | 753,415,879 |
STATEMENTS OF OPERATIONS (UNAUD
STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
REVENUES | ||||
Total Revenues | $ 3,302,228 | $ 2,589,299 | $ 11,219,161 | $ 7,721,230 |
COST OF REVENUES | ||||
Total Cost of Revenues | 2,084,949 | 1,822,164 | 8,754,208 | 5,339,763 |
GROSS PROFIT | 1,217,279 | 767,135 | 2,464,953 | 2,381,467 |
OPERATING EXPENSES | ||||
Selling Expense | 127,488 | 91,897 | 315,447 | 249,015 |
General and Administrative | 283,513 | 229,393 | 780,881 | 603,047 |
Total Operating Expenses | 411,001 | 321,290 | 1,096,328 | 852,062 |
Income From Operations | 806,278 | 445,845 | 1,368,625 | 1,529,405 |
OTHER INCOME (EXPENSE) | ||||
Interest Expense | (135,541) | (193,740) | (487,345) | (614,257) |
Loss from Early Extinguishment of Debt | (566,838) | |||
Other Income | 52,680 | 130,000 | 53,913 | 130,000 |
Total Other Income (Expense) | (82,861) | (63,740) | (1,000,270) | (484,257) |
INCOME BEFORE BENEFIT (PROVISION) for INCOME TAXES | 723,417 | 382,105 | 368,355 | 1,045,148 |
BENEFIT (PROVISION) for INCOME TAXES | (209,791) | (107,968) | (113,315) | (303,566) |
NET INCOME | $ 513,626 | $ 274,137 | $ 255,040 | $ 741,582 |
Weighted Average Shares Outstanding: | ||||
Basic (in shares) | 753,415,879 | 753,415,879 | 753,415,879 | 753,415,879 |
Diluted (in shares) | 753,415,879 | 753,415,879 | 753,415,879 | 753,415,879 |
Earnings (loss) per Share | ||||
Basic (in dollars per share) | $ 0 | $ 0 | $ 0 | $ 0 |
Diluted (in dollars per share) | $ 0 | $ 0 | $ 0 | $ 0 |
Sales of Equipment and Other Revenues [Member] | ||||
REVENUES | ||||
Total Revenues | $ 2,724,589 | $ 1,949,258 | $ 9,395,942 | $ 5,717,992 |
COST OF REVENUES | ||||
Total Cost of Revenues | 1,842,974 | 1,622,448 | 8,040,510 | 4,685,296 |
Rentals and Leases [Member] | ||||
REVENUES | ||||
Total Revenues | 577,639 | 640,041 | 1,823,219 | 2,003,238 |
COST OF REVENUES | ||||
Total Cost of Revenues | $ 241,975 | $ 199,716 | $ 713,698 | $ 654,467 |
STATEMENTS OF STOCKHOLDERS' EQU
STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Accumulated Deficit [Member] | Total |
Balance, Beginning at Dec. 31, 2017 | $ 754,017 | $ 20,785,924 | $ (5,438) | $ (20,180,044) | $ 1,354,459 |
Balance, Beginning (in shares) at Dec. 31, 2017 | 753,415,879 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net Income | 216,859 | 216,859 | |||
Balance, End at Mar. 31, 2018 | $ 754,017 | 20,785,924 | (5,438) | (19,963,185) | 1,571,318 |
Balance, End (in shares) at Mar. 31, 2018 | 753,415,879 | ||||
Balance, Beginning at Dec. 31, 2017 | $ 754,017 | 20,785,924 | (5,438) | (20,180,044) | 1,354,459 |
Balance, Beginning (in shares) at Dec. 31, 2017 | 753,415,879 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net Income | 741,582 | ||||
Balance, End at Sep. 30, 2018 | $ 754,017 | 20,785,924 | (5,438) | (19,438,462) | 2,096,041 |
Balance, End (in shares) at Sep. 30, 2018 | 753,415,879 | ||||
Balance, Beginning at Mar. 31, 2018 | $ 754,017 | 20,785,924 | (5,438) | (19,963,185) | 1,571,318 |
Balance, Beginning (in shares) at Mar. 31, 2018 | 753,415,879 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net Income | 250,586 | 250,586 | |||
Balance, End at Jun. 30, 2018 | $ 754,017 | 20,785,924 | (5,438) | (19,712,599) | 1,821,904 |
Balance, End (in shares) at Jun. 30, 2018 | 753,415,879 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net Income | 274,137 | 274,137 | |||
Balance, End at Sep. 30, 2018 | $ 754,017 | 20,785,924 | (5,438) | (19,438,462) | 2,096,041 |
Balance, End (in shares) at Sep. 30, 2018 | 753,415,879 | ||||
Balance, Beginning at Dec. 31, 2018 | $ 753,416 | 20,785,924 | (4,837) | (19,294,449) | 2,240,054 |
Balance, Beginning (in shares) at Dec. 31, 2018 | 753,415,879 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net Income | (282,618) | (282,618) | |||
Balance, End at Mar. 31, 2019 | $ 753,416 | 20,785,924 | (4,837) | (19,577,067) | 1,957,436 |
Balance, End (in shares) at Mar. 31, 2019 | 753,415,879 | ||||
Balance, Beginning at Dec. 31, 2018 | $ 753,416 | 20,785,924 | (4,837) | (19,294,449) | 2,240,054 |
Balance, Beginning (in shares) at Dec. 31, 2018 | 753,415,879 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net Income | 255,040 | ||||
Balance, End at Sep. 30, 2019 | $ 753,416 | 20,781,087 | (19,039,409) | 2,495,094 | |
Balance, End (in shares) at Sep. 30, 2019 | 753,415,879 | ||||
Balance, Beginning at Mar. 31, 2019 | $ 753,416 | 20,785,924 | (4,837) | (19,577,067) | 1,957,436 |
Balance, Beginning (in shares) at Mar. 31, 2019 | 753,415,879 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net Income | 24,032 | 24,032 | |||
Retirement of Treasury Stock | (4,837) | 4,837 | |||
Balance, End at Jun. 30, 2019 | $ 753,416 | 20,781,087 | (19,553,035) | 1,981,468 | |
Balance, End (in shares) at Jun. 30, 2019 | 753,415,879 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net Income | 513,626 | 513,626 | |||
Balance, End at Sep. 30, 2019 | $ 753,416 | $ 20,781,087 | $ (19,039,409) | $ 2,495,094 | |
Balance, End (in shares) at Sep. 30, 2019 | 753,415,879 |
STATEMENTS OF CASH FLOWS (UNAUD
STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
CASH FROM OPERATING ACTIVITIES | ||
Net Income | $ 255,040 | $ 741,582 |
Adjustments to reconcile Net Income (Loss) to Net Cash provided by (Used In) Operating Activities: | ||
Depreciation and Amortization | 893,508 | 779,661 |
Provision for Deferred Income Taxes | 134,673 | |
Loss on early extinguishment of Debt | 566,838 | |
Changes in Operating Assets and Liabilities: | ||
Accounts Receivable | 17,033 | (238,618) |
Inventory | (2,426,349) | 435,319 |
Other Current Assets | (182,542) | 5,350 |
Accounts Payable | (189,278) | (815,083) |
Accrued Expenses | (31,569) | 131,497 |
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | (962,646) | 1,039,708 |
INVESTING ACTIVITIES: | ||
Payments for Property and Equipment | (160,390) | (411,921) |
Payments for Rental Equipment | (135,699) | (497,520) |
NET CASH PROVIDED BY INVESTING ACTIVITIES | (296,089) | (909,441) |
FINANCING ACTIVITIES: | ||
Proceeds from Notes Payable | 495,924 | 2,047,176 |
Payments on Notes Payable | (5,618,427) | (2,799,475) |
Payment on Note Payable - Related Party | (33,438) | (13,329) |
Net Proceeds Borrowing Under Lines of Credit | 6,348,546 | 502,126 |
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | 1,192,605 | (263,502) |
NET DECREASE IN CASH & CASH EQUIVALENTS | (66,130) | (133,235) |
Cash, beginning of period | 197,752 | 553,625 |
Cash, end of period | 131,622 | 420,390 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Cash Paid for Interest | 487,345 | 614,257 |
Cash Paid for (Refund of) Income Taxes | 113,315 | 303,566 |
SUPPLEMENTAL DISCLOSURES OF NON CASH INVESTING AND FINANCING ACTIVITIES: | ||
Cash Paid for Interest | ||
Cash Paid for (Refund of) Income Taxes |
Organization and Basis of Prese
Organization and Basis of Presentation | 9 Months Ended |
Sep. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Basis of Presentation | Note 1 - Organization and Basis of Presentation Organization and Line of Business AmeraMex International, Inc., (the “Company”) was incorporated on May 29, 1990 under the laws of the state of Nevada. The Company sells, leases and rents new and refurbished heavy equipment primarily in the U.S. The Company operates under the name of Hamre Equipment. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 2 – Summary of Significant Accounting Policies Liquidity Considerations At September 30, 2019, the Company had working capital of approximately $4.8 million. We expect to generate sufficient cash flows from operations to meet our obligations, and we Basis of Presentation The unaudited interim financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information, within the rules and regulations of the United States Securities and Exchange Commission (the “SEC”). Certain information and disclosures normally included in the annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. The unaudited interim financial statements have been prepared on a basis consistent with the audited financial statements and in the opinion of management, reflect all adjustments, consisting of only normal recurring adjustments, necessary for the fair presentation of the results for the interim periods presented and of the financial condition as of the date of the interim balance sheet. The financial data and the other information disclosed in these notes to the interim financial statements related to the three and six-month periods are unaudited. Unaudited interim results are not necessarily indicative of the results for the full fiscal year. These unaudited interim financial statements should be read in conjunction with the financial statements of the Company for the year ended December 31, 2018 and notes thereto that are included in the Company’s Registration Statement on Form 10, as amended. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. It is possible that accounting estimates and assumptions may be material to the Company due to the levels of subjectivity and judgment involved. Significant estimates in these unaudited interim financial statements include the allowance for doubtful accounts, inventory reserve, valuation allowance for deferred taxes, and estimated useful life of property and equipment. Line of Credit Issuance Costs We capitalize and amortize direct issue costs incurred in connection with our line of credit arrangements. Included in Other Assets in the accompanying balance sheet at September 30, 2019 are unamortized loan fees of $161,719. During the nine months ended September 30, 2019, the Company amortized $34,531 in loan fees. Concentrations For the nine months ended September 30, 2019, 22% of sales was due to two customers. For the nine months ended September 30, 2018, 13% of sales was due to one customer. The loss of one or more of these customers would have a negative impact on the Company’s financial results. For the nine months ended September 30, 2019, 61% of purchases was due to three vendors, one of which accounted for 31% of purchases. For the nine months ended September 30, 2018, 48% of purchases was due to three vendors, one of which accounted for 24% of purchases. The loss of one or more of these vendors would have a negative impact on the Company’s financial results. As of September 30, 2019, the Company has three customers comprising 65% of net accounts receivable. As of December 31, 2018, the Company has three customers comprising 53% of net accounts receivable . A loss of one of these customers would have a material effect on the Company. As of September 30, 2019, the Company has three vendors comprising 65% of accounts payable. As of December 31, 2018, the Company has two vendors comprising 29% of accounts payable. A loss of one of these vendors would have a material effect on the Company. |
Inventory
Inventory | 9 Months Ended |
Sep. 30, 2019 | |
Inventory Disclosure [Abstract] | |
Inventory | Note 3 – Inventory Inventory as of September 30, 2019 and December 31, 2018 consisted of the following: September 30, 2019 December 31, 2018 Parts and supplies $ 277,237 $ 168,106 Heavy equipment 4,838,754 2,521,536 Total $ 5,115,991 $ 2,689,642 All of the inventory is used as collateral for the lines of credit and notes payable (see Notes 6 and 7). |
Property and Equipment
Property and Equipment | 9 Months Ended |
Sep. 30, 2019 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | Note 4 – Property and Equipment Property and equipment includes assets held for internal use; as of September 30, 2019 and December 31, 2018, such consisted of the following: September 30, 2019 December 31, 2018 Furniture and Fixtures $ 77,742 $ 74,768 Leasehold Improvements 467,188 410,072 Vehicles and Equipment 1,264,941 1,147,353 Total, at Cost 1,809,871 1,632,193 Less - Accumulated Depreciation (807,666 ) (643,641 ) Total, Net $ 1,002,205 $ 988,552 Depreciation expense for the nine months ended September 30, 2019 and 2018 was $146,737 and $131,409, respectively. All of the property and equipment is used as collateral for the lines of credit and notes payable (see Notes 6 and 7). |
Rental Equipment
Rental Equipment | 9 Months Ended |
Sep. 30, 2019 | |
Leases [Abstract] | |
Rental Equipment | Note 5 – Rental Equipment Rental equipment as of September 30, 2019 and December 31, 2018 consisted of the following: September 30, 2019 December 31, 2018 Rental equipment $ 6,750,279 $ 6,666,817 Less - Accumulated Depreciation (2,681,925 ) (1,987,695 ) Total, Net $ 4,068,354 $ 4,679,122 Depreciation expense for the nine months ended September 30, 2019 and 2018 was $712,240 and $648,252, respectively. All of the rental equipment is used as collateral for the lines of credit and notes payable (see Notes 6 and 7). |
Lines of Credit
Lines of Credit | 9 Months Ended |
Sep. 30, 2019 | |
Debt Disclosure [Abstract] | |
Lines of Credit | Note 6 – Lines of Credit The Company has a line of credit with a finance company that provides for borrowing and refinancing up to $6.5 million, as amended. This credit facility expires March 22, 2022. The line of credit is secured by substantially all of the Company assets, other than those specifically secured by an existing agreement detailed in the following paragraph and bears interest at a rate of 10%, per annum, calculated on a 30/360 basis. Principal only becomes due and payable if the Company reaches the maximum balance under the credit facility, for which management does not expect to reach. If the maximum balance is reached, the principal becomes payable at 1.25% of the outstanding principal balance per month. Principal balance shall never exceed 75% of capital borrowed against in order to satisfy covenants. At September 30, 2019, the amount outstanding under this line of credit was $6,303,576 with $196,424 available for borrowing. The Company has a line of credit with a finance company that provides for borrowing up to $500,000. The agreement may be terminated at any time with 45 days notice. The line of credit is secured by the equipment purchased and is interest free if paid within 180 days from the finance date. After the applicable free interest period, the interest calculates as follows; 30 day LIBOR plus 6.75% - rate after Free Period to Day 365; 30 day LIBOR plus 7.00% - Rate Day 366 to 720; 30 Day LIBOR plus 7.25% - Rate Day 721 to 1095; 30 Day LIBOR plus 12.00% - Matured Rate Day 1096 and above. At September 30, 2019, the amount outstanding under this line of credit agreement was $361,472 with $138,528 available for borrowing. |
Notes Payable
Notes Payable | 9 Months Ended |
Sep. 30, 2019 | |
Debt Disclosure [Abstract] | |
Notes Payable | Note 7 – Notes Payable Notes payable as of September 30, 2019 and December 31, 2018 consisted of the following: September 30, 2019 December 31, 2018 Payable to insurance company; secured by cash surrender value of life insurance policy; no due date $ 132,880 $ 132,880 Note Payable 007 to finance company dated June 16, 2015; interest at 12.7% per annum; monthly principal and interest payments of $1,343; due 60 months from issuance; secured by equipment; fully paid on March 31, 2019 __ 20,863 Note Payable 010 to bank dated June 6, 2016; interest at 3.23% per annum; 60 monthly principal and interest payments of $2,655 and one final payment for $14,500; due 61 months from issuance; secured by equipment; fully paid on March 31, 2019 __ 87,349 Note Payable 012 to finance company dated July 29, 2016; interest at 6.25% per annum; monthly principal and interest payments of $899; due 60 months from issuance; secured by equipment; fully paid on March 31, 2019 __ 26,501 Note Payable 013 to finance company dated October 26, 2016; interest at 14.4% per annum; monthly principal and interest payments ranging from $1,400 to $14,850; due 26 months from issuance; secured by equipment; fully paid on March 31, 2019 __ 14,106 Note Payable 015 to finance company dated February 1, 2017; interest at 8.5% per annum; monthly principal and interest payments of $4,546; due 24 months from issuance; secured by equipment; fully paid on March 31, 2019 — 4,514 Note Payable 018 to finance company dated June 9, 2017; interest at 25.7% per annum; monthly payments of $12,000; due 24 months from issuance; secured by equipment; fully paid on March 31, 2019 — 87,086 Note Payable 025 to finance company dated October 26, 2017; interest at 7.8% per annum; monthly principal and interest payments of $2,019; due 72 months from issuance; secured by equipment; fully paid by March 31, 2019 — 98,580 Payable to finance company; interest ranging from 7.80% to 9.04%; monthly payments of $97,090; due November 2021; secured by equipment; fully paid March 31, 2019 __ 2,217,699 Note Payable 026 to finance company dated November 22, 2017; monthly principal payments of $27,900; due 36 months from issuance; secured by equipment; fully paid March 31, 2019 __ 781,553 Note Payable 028 to finance company dated February 28, 2018; interest at 10% per annum; monthly principal and interest payments of $2,800; due 60 months from issuance; secured by equipment; fully paid March 31, 2019 __ 124,588 Notes Payable 031, 034, 035 & 038 to finance company dated June 6 and 25, 2018, and September 7 and 25, 2018, respectively; interest at 10% per annum; monthly principal and interest payments for four months at $625 then one at $63,125, for six months at $1,000 then one at $99,000, three months at $1,900 then one at $191,000, four months at $1,400 then one at $141,400; secured by equipment; fully paid March 31, 2019 __ 252,500 Notes Payable 036 & 040 to finance company; interest ranging from 7.658% to 7.75%; one payment at $3,787 then 35 monthly payments of $13,588, 24 monthly payments of $5,260; secured by equipment; fully paid March 31, 2019 __ 531,116 Note Payable 033 to finance company; interest at 7.49% per annum; monthly principal and interest payments of $2,403; due 60 months from issuance; secured by equipment; fully paid March 31, 2019 __ 136,188 Note Payable ROC 001 to finance company; interest at 2.90% per annum; monthly principal and interest payments of $4,749.37; due 48 months from issuance; secured by equipment. 200,751 __ Note Payable ROC 002 to finance company; interest at 2.9% per annum; monthly principal and interest payments of $3,422.31; due 48 months from issuance; secured by equipment 151,504 Other notes payable 30,000 97,328 Total 515,135 4,612,851 Less current portion (30,000 ) (296,618 ) Long-term portion $ 485,135 $ 4,316,233 |
Related-Party Transactions
Related-Party Transactions | 9 Months Ended |
Sep. 30, 2019 | |
Related Party Transactions [Abstract] | |
Related-Party Transactions | Note 8 – Related-Party Transactions Related-Party Note Payable The Company has a note payable to the Company’s President. The note is interest bearing at 10% per annum, unsecured and payable upon demand. The balance of the note at September 30, 2019 and December 31, 2018 was $320,205 and $353,643, respectively. During the nine months ended September 30, 2019, $33,438 was repaid on this note payable. During the nine months ended September 30, 2018, $13,329 was repaid on this note payable. Lease The Company leases a building and real property in Chico, California under a five-year lease agreement from a trust whose trustee is the Company’s President. The lease provided for monthly lease payments of $9,800 per month, and expired on December 1, 2017. The Company is currently leasing the building and real property at the same rate on a month-to-month lease. Rent expense during the nine months ended September 30, 2019 and 2018, was $88,200 and $78,400, respectively. |
Stockholders' Equity
Stockholders' Equity | 9 Months Ended |
Sep. 30, 2019 | |
Equity [Abstract] | |
Stockholders' Equity | Note 9 – Stockholders’ Equity The Company has authorized 5,000,000 shares of $0.001 par value blank check preferred stock, of which no shares were issued and outstanding as of September 30, 2019 and December 31, 2018. The Company has authorized 1,000,000,000 shares of $0.001 par value common stock, of which 753,415,879 were issued and outstanding as of September 30, 2019 and December 31, 2018. During the nine months ended September 30, 2019, the Company did not issue any stock. |
Revenues
Revenues | 9 Months Ended |
Sep. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenues | Note 10 – Revenues During the three and nine months ended September 30, 2019 and 2018, revenues and costs related to domestic and foreign sales of equipment are as follows: Three Three Nine Nine Ended Ended Ended Ended September 30, 2019 September 30, 2018 September 30, 2019 September 30, 2018 Equipment Revenues and Other Domestic $ 3,302,228 $ 2,589,299 $ 10,702,161 $ 7,663,730 Export — — 517,000 57,500 Total Revenues and Other 3,302,228 2,589,299 11,219,161 7,721,230 Cost of Revenues and Other Domestic 2,084,949 1,822,164 8,350,910 5,314,864 Export — — 403,298 24,889 Total Cost of Revenues and Other 2,084,949 1,822,164 8,754,208 5,339,763 Gross Profit $ 1,217,279 $ 767,135 $ 2,464,953 $ 2,381,467 During the nine months ended September 30, 2019 and 2018, there were no foreign rentals of equipment. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 11 – Commitments and Contingencies From time to time, the Company is involved in routine litigation that arises in the ordinary course of business. There are no pending significant legal proceedings to which the Company is a party for which management believes the ultimate outcome would have a material adverse effect on the Company's financial position. There are no pending legal proceedings that are expected to be material to our cash flow and operating results. See Note 8 for related party operating lease. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
Liquidity Considerations | Liquidity Considerations At September 30, 2019, the Company had working capital of approximately $4.8 million. We expect to generate sufficient cash flows from operations to meet our obligations, and we |
Basis of Presentation | Basis of Presentation The unaudited interim financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information, within the rules and regulations of the United States Securities and Exchange Commission (the “SEC”). Certain information and disclosures normally included in the annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. The unaudited interim financial statements have been prepared on a basis consistent with the audited financial statements and in the opinion of management, reflect all adjustments, consisting of only normal recurring adjustments, necessary for the fair presentation of the results for the interim periods presented and of the financial condition as of the date of the interim balance sheet. The financial data and the other information disclosed in these notes to the interim financial statements related to the three and six-month periods are unaudited. Unaudited interim results are not necessarily indicative of the results for the full fiscal year. These unaudited interim financial statements should be read in conjunction with the financial statements of the Company for the year ended December 31, 2018 and notes thereto that are included in the Company’s Registration Statement on Form 10, as amended. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. It is possible that accounting estimates and assumptions may be material to the Company due to the levels of subjectivity and judgment involved. Significant estimates in these unaudited interim financial statements include the allowance for doubtful accounts, inventory reserve, valuation allowance for deferred taxes, and estimated useful life of property and equipment. |
Line of Credit Issuance Costs | Line of Credit Issuance Costs We capitalize and amortize direct issue costs incurred in connection with our line of credit arrangements. Included in Other Assets in the accompanying balance sheet at September 30, 2019 are unamortized loan fees of $161,719. During the nine months ended September 30, 2019, the Company amortized $34,531 in loan fees. |
Concentrations | Concentrations For the nine months ended September 30, 2019, 22% of sales was due to two customers. For the nine months ended September 30, 2018, 13% of sales was due to one customer. The loss of one or more of these customers would have a negative impact on the Company’s financial results. For the nine months ended September 30, 2019, 61% of purchases was due to three vendors, one of which accounted for 31% of purchases. For the nine months ended September 30, 2018, 48% of purchases was due to three vendors, one of which accounted for 24% of purchases. The loss of one or more of these vendors would have a negative impact on the Company’s financial results. As of September 30, 2019, the Company has three customers comprising 65% of net accounts receivable. As of December 31, 2018, the Company has three customers comprising 53% of net accounts receivable . A loss of one of these customers would have a material effect on the Company. As of September 30, 2019, the Company has three vendors comprising 65% of accounts payable. As of December 31, 2018, the Company has two vendors comprising 29% of accounts payable. A loss of one of these vendors would have a material effect on the Company. |
Inventory (Tables)
Inventory (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Inventory Disclosure [Abstract] | |
Schedule of inventory | Inventory as of September 30, 2019 and December 31, 2018 consisted of the following: September 30, 2019 December 31, 2018 Parts and supplies $ 277,237 $ 168,106 Heavy equipment 4,838,754 2,521,536 Total $ 5,115,991 $ 2,689,642 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Property, Plant and Equipment [Abstract] | |
Schedule of property and equipment | Property and equipment includes assets held for internal use; as of September 30, 2019 and December 31, 2018, such consisted of the following: September 30, 2019 December 31, 2018 Furniture and Fixtures $ 77,742 $ 74,768 Leasehold Improvements 467,188 410,072 Vehicles and Equipment 1,264,941 1,147,353 Total, at Cost 1,809,871 1,632,193 Less - Accumulated Depreciation (807,666 ) (643,641 ) Total, Net $ 1,002,205 $ 988,552 |
Rental Equipment (Tables)
Rental Equipment (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Leases [Abstract] | |
Schedule of rental equipment | Rental equipment as of September 30, 2019 and December 31, 2018 consisted of the following: September 30, 2019 December 31, 2018 Rental equipment $ 6,750,279 $ 6,666,817 Less - Accumulated Depreciation (2,681,925 ) (1,987,695 ) Total, Net $ 4,068,354 $ 4,679,122 |
Notes Payable (Tables)
Notes Payable (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Debt Disclosure [Abstract] | |
Schedule of notes payable | Notes payable as of September 30, 2019 and December 31, 2018 consisted of the following: September 30, 2019 December 31, 2018 Payable to insurance company; secured by cash surrender value of life insurance policy; no due date $ 132,880 $ 132,880 Note Payable 007 to finance company dated June 16, 2015; interest at 12.7% per annum; monthly principal and interest payments of $1,343; due 60 months from issuance; secured by equipment; fully paid on March 31, 2019 __ 20,863 Note Payable 010 to bank dated June 6, 2016; interest at 3.23% per annum; 60 monthly principal and interest payments of $2,655 and one final payment for $14,500; due 61 months from issuance; secured by equipment; fully paid on March 31, 2019 __ 87,349 Note Payable 012 to finance company dated July 29, 2016; interest at 6.25% per annum; monthly principal and interest payments of $899; due 60 months from issuance; secured by equipment; fully paid on March 31, 2019 __ 26,501 Note Payable 013 to finance company dated October 26, 2016; interest at 14.4% per annum; monthly principal and interest payments ranging from $1,400 to $14,850; due 26 months from issuance; secured by equipment; fully paid on March 31, 2019 __ 14,106 Note Payable 015 to finance company dated February 1, 2017; interest at 8.5% per annum; monthly principal and interest payments of $4,546; due 24 months from issuance; secured by equipment; fully paid on March 31, 2019 — 4,514 Note Payable 018 to finance company dated June 9, 2017; interest at 25.7% per annum; monthly payments of $12,000; due 24 months from issuance; secured by equipment; fully paid on March 31, 2019 — 87,086 Note Payable 025 to finance company dated October 26, 2017; interest at 7.8% per annum; monthly principal and interest payments of $2,019; due 72 months from issuance; secured by equipment; fully paid by March 31, 2019 — 98,580 Payable to finance company; interest ranging from 7.80% to 9.04%; monthly payments of $97,090; due November 2021; secured by equipment; fully paid March 31, 2019 __ 2,217,699 Note Payable 026 to finance company dated November 22, 2017; monthly principal payments of $27,900; due 36 months from issuance; secured by equipment; fully paid March 31, 2019 __ 781,553 Note Payable 028 to finance company dated February 28, 2018; interest at 10% per annum; monthly principal and interest payments of $2,800; due 60 months from issuance; secured by equipment; fully paid March 31, 2019 __ 124,588 Notes Payable 031, 034, 035 & 038 to finance company dated June 6 and 25, 2018, and September 7 and 25, 2018, respectively; interest at 10% per annum; monthly principal and interest payments for four months at $625 then one at $63,125, for six months at $1,000 then one at $99,000, three months at $1,900 then one at $191,000, four months at $1,400 then one at $141,400; secured by equipment; fully paid March 31, 2019 __ 252,500 Notes Payable 036 & 040 to finance company; interest ranging from 7.658% to 7.75%; one payment at $3,787 then 35 monthly payments of $13,588, 24 monthly payments of $5,260; secured by equipment; fully paid March 31, 2019 __ 531,116 Note Payable 033 to finance company; interest at 7.49% per annum; monthly principal and interest payments of $2,403; due 60 months from issuance; secured by equipment; fully paid March 31, 2019 __ 136,188 Note Payable ROC 001 to finance company; interest at 2.90% per annum; monthly principal and interest payments of $4,749.37; due 48 months from issuance; secured by equipment. 200,751 __ Note Payable ROC 002 to finance company; interest at 2.9% per annum; monthly principal and interest payments of $3,422.31; due 48 months from issuance; secured by equipment 151,504 Other notes payable 30,000 97,328 Total 515,135 4,612,851 Less current portion (30,000 ) (296,618 ) Long-term portion $ 485,135 $ 4,316,233 |
Revenues (Tables)
Revenues (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of revenues and costs related to domestic and foreign sales of equipment | During the three and nine months ended September 30, 2019 and 2018, revenues and costs related to domestic and foreign sales of equipment are as follows: Three Three Nine Nine Ended Ended Ended Ended September 30, 2019 September 30, 2018 September 30, 2019 September 30, 2018 Equipment Revenues and Other Domestic $ 3,302,228 $ 2,589,299 $ 10,702,161 $ 7,663,730 Export — — 517,000 57,500 Total Revenues and Other 3,302,228 2,589,299 11,219,161 7,721,230 Cost of Revenues and Other Domestic 2,084,949 1,822,164 8,350,910 5,314,864 Export — — 403,298 24,889 Total Cost of Revenues and Other 2,084,949 1,822,164 8,754,208 5,339,763 Gross Profit $ 1,217,279 $ 767,135 $ 2,464,953 $ 2,381,467 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details Narrative) | 9 Months Ended |
Sep. 30, 2019USD ($) | |
Working capital | $ 4,800,000 |
Unamortized loan fees | 161,719 |
Amortization of loan fees | $ 34,531 |
Customer Concentration [Member] | |
Description of concentrations | For the nine months ended September 30, 2019, 22% of sales was due to two customers. For the nine months ended September 30, 2018, 13% of sales was due to one customer. The loss of one or more of these customers would have a negative impact on the Company’s financial results. For the nine months ended September 30, 2019, 61% of purchases was due to three vendors, one of which accounted for 31% of purchases. For the nine months ended September 30, 2018, 48% of purchases was due to three vendors, one of which accounted for 24% of purchases. The loss of one or more of these vendors would have a negative impact on the Company’s financial results. As of September 30, 2019, the Company has three customers comprising 65% of net accounts receivable. As of December 31, 2018, the Company has three customers comprising 53% of net accounts receivable . A loss of one of these customers would have a material effect on the Company. As of September 30, 2019, the Company has three vendors comprising 65% of accounts payable. As of December 31, 2018, the Company has two vendors comprising 29% of accounts payable. A loss of one of these vendors would have a material effect on the Company. |
Inventory (Details)
Inventory (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Inventory [Line Items] | ||
Total | $ 5,115,991 | $ 2,689,642 |
Parts And Supplies [Member] | ||
Inventory [Line Items] | ||
Total | 277,237 | 168,106 |
Heavy Equipment [Member] | ||
Inventory [Line Items] | ||
Total | $ 4,838,754 | $ 2,521,536 |
Property and Equipment (Details
Property and Equipment (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Total, at Cost | $ 1,809,871 | $ 1,632,193 |
Less - Accumulated Depreciation | (807,666) | (643,641) |
Total, Net | 1,002,205 | 988,552 |
Furniture and Fixtures [Member] | ||
Total, at Cost | 77,742 | 74,768 |
Leasehold Improvements [Member] | ||
Total, at Cost | 467,188 | 410,072 |
Vehicles and Equipment [Member] | ||
Total, at Cost | $ 1,264,941 | $ 1,147,353 |
Property and Equipment (Detai_2
Property and Equipment (Details Narrative) - USD ($) | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Property Plant And Equipment [Member] | ||
Depreciation expense | $ 146,737 | $ 131,409 |
Rental Equipment (Details)
Rental Equipment (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Leases [Abstract] | ||
Rental equipment | $ 6,750,279 | $ 6,666,817 |
Less - Accumulated Depreciation | (2,681,925) | (1,987,695) |
Total, Net | $ 4,068,354 | $ 4,679,122 |
Rental Equipment (Details Narra
Rental Equipment (Details Narrative) - USD ($) | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Rental Equipment [Member] | ||
Depreciation expense | $ 712,240 | $ 648,252 |
Lines of Credit (Details Narrat
Lines of Credit (Details Narrative) - USD ($) | 9 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2018 | |
Line of credit, outstanding amount | $ 6,665,048 | $ 774,456 |
Line of Credit for Borrowing and Refinancing [Member] | Finance Company [Member] | ||
Line of credit maximum borrowing capacity | $ 6,500,000 | |
Interest rate | 10.00% | |
Line of Credit [Member] | Finance Company [Member] | ||
Line of credit maximum borrowing capacity | $ 500,000 | |
Description of line of credit interest rate terms | Interest free if paid within 180 days from the finance date. After the applicable free interest period, the interest calculates as follows; 30 day LIBOR plus 6.75% - rate after Free Period to Day 365; 30 day LIBOR plus 7.00% - Rate Day 366 to 720; 30 Day LIBOR plus 7.25% - Rate Day 721 to 1095; 30 Day LIBOR plus 12.00% - Matured Rate Day 1096 and above. | |
Interest rate | 75.00% | |
Line of credit, outstanding amount | $ 6,303,576 | |
Available for borrowing | 196,424 | |
Line of Credit [Member] | Bank [Member] | ||
Line of credit, outstanding amount | 361,472 | |
Available for borrowing | $ 138,528 |
Notes Payable (Details)
Notes Payable (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019 | Dec. 31, 2018 | |
Total | $ 515,137 | $ 4,612,851 |
Less current portion | (30,000) | (296,618) |
Long-term portion | $ 485,135 | 4,316,233 |
12.7% Note Payable Due on March 31, 2019 [Member] | ||
Interest rate | 12.70% | |
Issuance Date | Jun. 16, 2015 | |
Maturity date | Mar. 31, 2019 | |
Monthly principal and interest payments | $ 1,343 | |
Total | 20,863 | |
3.23% Note Payable Due on March 31, 2019 [Member] | ||
Interest rate | 3.23% | |
Issuance Date | Jun. 6, 2016 | |
Maturity date | Mar. 31, 2019 | |
Monthly principal and interest payments | $ 2,655 | |
One final payment | 14,500 | |
Total | 87,349 | |
6.25% Note Payable Due on March 31, 2019 [Member] | ||
Interest rate | 6.25% | |
Issuance Date | Jul. 29, 2016 | |
Maturity date | Mar. 31, 2019 | |
Monthly principal and interest payments | $ 899 | |
Total | 26,501 | |
14.4% Note Payable Due on March 31, 2019 [Member] | ||
Interest rate | 14.40% | |
Issuance Date | Oct. 26, 2016 | |
Maturity date | Mar. 31, 2019 | |
Total | 14,106 | |
14.4% Note Payable Due on March 31, 2019 [Member] | Minimum [Member] | ||
Monthly principal and interest payments | 1,400 | |
14.4% Note Payable Due on March 31, 2019 [Member] | Maximum [Member] | ||
Monthly principal and interest payments | $ 14,850 | |
8.5% Note Payable Due on March 31, 2019 [Member] | ||
Interest rate | 8.50% | |
Issuance Date | Feb. 1, 2017 | |
Maturity date | Mar. 31, 2019 | |
Monthly principal and interest payments | $ 4,546 | |
Total | 4,514 | |
25.7% Note Payable Due on March 31, 2019 [Member] | ||
Interest rate | 25.70% | |
Issuance Date | Jun. 9, 2017 | |
Maturity date | Mar. 31, 2019 | |
Monthly principal and interest payments | $ 12,000 | |
Total | 87,086 | |
7.8% Note Payable Due on March 31, 2019 [Member] | ||
Interest rate | 7.80% | |
Issuance Date | Oct. 26, 2017 | |
Maturity date | Mar. 31, 2019 | |
Monthly principal and interest payments | $ 2,019 | |
Total | 98,580 | |
7.80% to 9.04% Note Payable Due on March 31, 2019 [Member] | ||
Maturity date | Mar. 31, 2019 | |
Monthly principal and interest payments | $ 97,090 | |
Total | 2,217,699 | |
7.80% to 9.04% Note Payable Due on March 31, 2019 [Member] | Minimum [Member] | ||
Interest rate | 7.80% | |
7.80% to 9.04% Note Payable Due on March 31, 2019 [Member] | Maximum [Member] | ||
Interest rate | 9.04% | |
Note Payable Due on March 31, 2019 [Member] | ||
Issuance Date | Nov. 22, 2017 | |
Maturity date | Mar. 31, 2019 | |
Monthly principal and interest payments | $ 27,900 | |
Total | 781,553 | |
10% Note Payable Due on March 31, 2019 [Member] | ||
Interest rate | 10.00% | |
Issuance Date | Feb. 28, 2018 | |
Maturity date | Mar. 31, 2019 | |
Monthly principal and interest payments | $ 2,800 | |
Total | 124,588 | |
10% Note Payable Due on March 31, 2019 [Member] | ||
Interest rate | 10.00% | |
Issuance Date | Jun. 6, 2018 | |
Maturity date | Mar. 31, 2019 | |
Description of periodic payment | Four months at $625 then one at $63,125 | |
Total | ||
10% Note Payable Due on March 31, 2019 [Member] | ||
Interest rate | 10.00% | |
Issuance Date | Jun. 25, 2018 | |
Maturity date | Mar. 31, 2019 | |
Description of periodic payment | Six months at $1,000 then one at $99,000 | |
10% Note Payable Due on March 31, 2019 [Member] | ||
Interest rate | 10.00% | |
Issuance Date | Sep. 7, 2018 | |
Maturity date | Mar. 31, 2019 | |
Description of periodic payment | Three months at $1,900 then one at $191,000 | |
10% Note Payable Due on March 31, 2019 [Member] | ||
Interest rate | 10.00% | |
Issuance Date | Sep. 25, 2018 | |
Maturity date | Mar. 31, 2019 | |
Description of periodic payment | Four months at $1,400 then one at $141,400 | |
10% Note Payable Due on March 31, 2019 [Member] | ||
Interest rate | 10.00% | |
Maturity date | Mar. 31, 2019 | |
Total | 252,500 | |
7.658% to 7.75% Note Payable Due on March 31, 2019 [Member] | ||
Maturity date | Mar. 31, 2019 | |
Total | 531,116 | |
7.658% Note Payable Due on March 31, 2019 [Member] | ||
Interest rate | 7.658% | |
Maturity date | Mar. 31, 2019 | |
Description of periodic payment | 35 monthly payments of $13,588 | |
Monthly principal and interest payments | $ 3,787 | |
7.75% Note Payable Due on March 31, 2019 [Member] | ||
Interest rate | 7.75% | |
Maturity date | Mar. 31, 2019 | |
Description of periodic payment | 24 monthly payments of $5,260 | |
7.49% Note Payable Due on March 31, 2019 [Member] | ||
Interest rate | 7.49% | |
Maturity date | Mar. 31, 2019 | |
Monthly principal and interest payments | $ 2,403 | |
Total | 136,188 | |
Secured Debt [Member] | ||
Total | 132,880 | 132,880 |
Other Notes Payable [Member] | ||
Total | $ 30,000 | $ 97,328 |
2.90% Note Payable [Member] | ||
Interest rate | 2.90% | |
Monthly principal and interest payments | $ 4,749 | |
Total | $ 200,751 | |
2.9% Note Payable [Member] | ||
Interest rate | 2.90% | |
Monthly principal and interest payments | $ 3,422 | |
Total | $ 151,504 |
Related-Party Transactions (Det
Related-Party Transactions (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Notes Payable | $ 320,205 | $ 320,205 | $ 353,643 | ||
Interest expenses | $ 135,541 | $ 193,740 | $ 487,345 | $ 614,257 | |
Building and Real Property [Member] | Mr. Lee Hamre [Member] | Lease Agreement [Member] | |||||
Lease term | 5 years | 5 years | |||
Monthly lease payable | $ 9,800 | $ 9,800 | |||
Lease expiration date | Dec. 1, 2017 | ||||
Rental expense | $ 88,200 | 78,400 | |||
10% Unsecured Notes Payable [Member] | Mr. Lee Hamre [Member] | |||||
Notes Payable | $ 320,205 | 320,205 | $ 353,643 | ||
Repayment of note payable | $ 33,438 | $ 13,329 |
Stockholders' Equity (Details N
Stockholders' Equity (Details Narrative) - $ / shares | Sep. 30, 2019 | Dec. 31, 2018 |
Stockholders' Equity Note [Abstract] | ||
Preferred stock, authorized | 5,000,000 | 5,000,000 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, issued | 0 | 0 |
Preferred stock, outstanding | 0 | 0 |
Common stock, authorized | 1,000,000,000 | 1,000,000,000 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, issued | 753,415,879 | 753,415,879 |
Common stock, outstanding | 753,415,879 | 753,415,879 |
Revenues (Details)
Revenues (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Total Revenues and Other | $ 3,302,228 | $ 2,589,299 | $ 11,219,161 | $ 7,721,230 |
Total Cost of Revenues and Other | 2,084,949 | 1,822,164 | 8,754,208 | 5,339,763 |
Gross Profit | 1,217,279 | 767,135 | 2,464,953 | 2,381,467 |
Domestic [Member] | ||||
Total Revenues and Other | 3,302,228 | 2,589,299 | 10,702,161 | 7,663,730 |
Total Cost of Revenues and Other | 2,084,949 | 1,822,164 | 8,350,910 | 5,314,864 |
Export [Member] | ||||
Total Revenues and Other | 517,000 | 57,500 | ||
Total Cost of Revenues and Other | $ 403,298 | $ 24,889 |