Amerityre stops work on automotive tyres

ERJ staff report (DS)

Boulder City, Nevada -- Polyurethane tyre maker, Amerityre Corp, has reported reduced losses for the three months ended 30 Sept. Amerityre engages in the development, manufacturing and sale of polyurethane tyres.

In a stock exchange filing, Amerityre said, "Due to the Company's limited resources, tyre projects which are contingent on additional development, such as composite and automotive tyres, have been put on hold and will be revisited at a later date."

The company reported operating losses of $184 345 on revenues of $1.35 million. This compares with an operating loss of $298 287 on revenues of $917 646 in the same period a year ago. Sales of products increased to $837k from $500k. Amerityre raised $40k from sales of equipment, from zero sales a year earlier.

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10-Q filing from Amerityre