Related-Party Transactions	3 Months Ended
Mar. 31, 2021
Related Party Transactions [Abstract]
Related-Party Transactions	Note 7 – 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 March 31, 2021 and December 31, 2020 was $239,412 and $226,659, respectively. During the three months ended March 31, 2021 the note increased by $12,753 and during the same time in 2020, the Company repaid $11,844 on this note payable. The note incurred $9,557 and $7,276 in interest expense for the three months ended March 31, 2021 and 2020, respectively. Lease The Company leases a building and real property in Chico, California under a one year lease agreement from a trust whose trustee is the Company’s President. The lease provides for monthly lease payments of $9,800 per month, and expired on December 1, 2017. The Company was leasing the building and real property at the same rate on a month-to-month lease until March 1, 2020 when a one-year agreement was signed renewable at anniversary for up to ten years. The new lease provides for monthly lease payments of $12,000. Rent expense during the three months ended March 31, 2021 and 2020, was $36,000 and $31,635, respectively. Transactions with Director Two separate customers lost financing for purchases of equipment after already receiving the machines, so the Company sold the machines to the brokerage company of one of the Company’s Directors. The customers are now renting the machines on a rent to own basis and the Company is purchasing the machines from the brokerage. The Company has two notes payable tied to these transactions that, at March 31, 2021 and December 31, 2020, have a combined total due of $153,705 and $168,151 respectively. The brokerage made $42,681 on the transactions. The notes are secured by the equipment. The Company also has two notes payable that were brokered through the same Director’s company. The notes are secured with equipment and as of March 31, 2021 and December 31, 2020 have a combined total due of $675,695 and $744,424, respectively.

Related-Party Transactions

3 Months Ended

Mar. 31, 2021

Note 7 – 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 March 31, 2021 and December 31, 2020 was $239,412 and $226,659, respectively. During the three months ended March 31, 2021 the note increased by $12,753 and during the same time in 2020, the Company repaid $11,844 on this note payable. The note incurred $9,557 and $7,276 in interest expense for the three months ended March 31, 2021 and 2020, respectively.

Lease

The Company leases a building and real property in Chico, California under a one year lease agreement from a trust whose trustee is the Company’s President. The lease provides for monthly lease payments of $9,800 per month, and expired on December 1, 2017. The Company was leasing the building and real property at the same rate on a month-to-month lease until March 1, 2020 when a one-year agreement was signed renewable at anniversary for up to ten years. The new lease provides for monthly lease payments of $12,000. Rent expense during the three months ended March 31, 2021 and 2020, was $36,000 and $31,635, respectively.

Transactions with Director

Two separate customers lost financing for purchases of equipment after already receiving the machines, so the Company sold the machines to the brokerage company of one of the Company’s Directors. The customers are now renting the machines on a rent to own basis and the Company is purchasing the machines from the brokerage. The Company has two notes payable tied to these transactions that, at March 31, 2021 and December 31, 2020, have a combined total due of $153,705 and $168,151 respectively. The brokerage made $42,681 on the transactions. The notes are secured by the equipment.

The Company also has two notes payable that were brokered through the same Director’s company. The notes are secured with equipment and as of March 31, 2021 and December 31, 2020 have a combined total due of $675,695 and $744,424, respectively.

Ameramex International Inc 10-Q