Amerityre Faces NASDAQ Delisting

(Tire Review) Amerityre Corp. has been notified by NASDAQ that its current financial status “was out of compliance” and that its stock may get delisted. NASDAQ claims Amerityre is not meeting the exchange’s Equity Standard Listing Rules, because it does not have a minimum of $2.5 million in shareholder equity, $35 million in market value of listed securities or $500,000 in net income from continuing operations for the most recent fiscal year. To remain listed, Amerityre must deliver by 20 October a “specific plan” on how it will meet and sustain those requirements, NASDAQ said. For its part, Amerityre said it “anticipates that its implementation of cost cutting measures combined with anticipated increases in revenues and successful fundraising efforts will be sufficient to bring it back into compliance with the minimum stockholders' equity requirements”.