Amerityre Corp. of Boulder City, Nev., which manufactures polyurethane flat proof tires for automotive, bicycle, mobility, industrial and recreational applications, has until Oct. 20 to submit “a specific plan of how it will achieve and sustain compliance with NASDAQ Capital Market listing requirements.”
The company is threatened with delisting from the NASDAQ because it does not have a minimum of $2.5 million in stockholders’ equity, $35 million in market value of listed securities, or $500,000 of income in accordance with the stock exchange’s regulations.
Amerityre executives say that “implementation of cost cutting measures, combined with anticipated increases in revenues and successful fundraising efforts, will be sufficient to bring (us) back into compliance with the minimum stockholders’ equity requirements.”
In 2003, the firm began enhancing its polyurethane Elastothane elastomer technology that would “allow us to ultimately develop a comprehensive line of tires and tire products based on polyurethane instead of rubber. These products include tire fill, solid tires, composite tires and pneumatic passenger vehicle tires.”
For more information, visit www.amerityre.com.
