Amerityre posts loss of $10 million on revenues of $1.7 million

Boulder City, Nevada — Polyurethane tyre developer Amerityre Corp. posted a net loss of $10 million last year on revenue of $1.68 million.

The net loss was more than twice that reported in fiscal 2004 and pushed the firm’s accumulated losses over 10 years to $36.5 million on sales of just $5.2 million. The bulk of the loss is attributed to $6.1 million paid out to a group of advisers primarily in the form of stock options, according to the firm’s 10K filing with the Securities…

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