Amerityre Lists on Nasdaq

Polyurethane tyre producer, Amerityre began trading on the Nasdaq Capital market on 21 March. “We are very pleased to reach this milestone in the development of our company,” commented Richard Steinke, Amerityre’s president and CEO. “We look forward to the enhanced access to the capital markets, improved liquidity and added shareholder value that are typically associated with a NASDAQ listing.”

For the quarter ended 31 December, Amerityre reported net losses of $1.16 million on revenue of $302,255 and $738,224, respectively. According to reports, the company has accumulated more than $45 million in losses since it began trading as American Tire Corp. in 1992 against revenue of about $5.9 million. Companies listed on Nasdaq must have stockholder equity of at least $5 million or market value of listed securities of at least $50 million.