BOULDER CITY, Nev. (May 26) — Amerityre Corp.´s quarterly net loss deepened in the third quarter by nearly 54 percent to $1.52 million on higher raw materials costs and expenses related to stock options and stock-based compensation.
The quarterly loss is the firm´s 43rd consecutive quarter in the red. Sales for the period increased 16 percent during the period to $566,237.
For the nine months the loss was $4.06 million — a 54.8-percent improvement — as sales increased 15.4 percent to $1.3 million on higher unit shipments.
Since the company was founded as American Tire Corp. in 1995, it has accumulated $46.5 million in losses vs. about $6.5 million in revenues.