Skip to main content
Sister Publication Links
  • European Rubber Journal
  • Plastics News
  • Tire Business
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • Automotive
    • Tire
    • Non-Tire
    • Suppliers
    • ITEC
    • Silicone
    • Online Exclusive
    • Latex
    • Technical Notebooks
    • Executive Action
    • Government/Legal
    • Opinion
    • Rubber Division IEC
    • Blogs
    • Sustainability
    • Products
    • Wacky World of Rubber
  • War in Ukraine
  • Custom
    • Sponsored Content
    • White Papers
  • Resources
    • Directory
    • Classifieds & Mold Mart
  • Data
  • Events
    • RN Events
    • RN Livestreams/Webinars
    • Industry Events
    • Past Events
    • Rubber News M&A Live
    • 2022 Hose & Belt Manufacturers Conference
    • 2022 International Silicone Conference
    • 2022 International Tire Exhibition & Conference (ITEC)
    • 2022 Women Breaking the Mold
  • Advertise
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. News
January 22, 2010 01:00 AM

Amerityre to delist stock from Nasdaq

  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    BOULDER CITY, Nev. (Jan. 22, 2010)—Polyurethane tire developer Amerityre Corp. will delist its common stock from the Nasdaq Stock Market Feb. 4 and said it intends to relist it on Nasdaq's Over The Counter Bulletin Board.

    The move is in response to a notice from the Securities and Exchange Commission that Amerityre no longer meets the minimum requirements of Nasdaq's Equity Standard Listing Rule 5550(b), which requires firms on the Nasdaq to have a minimum of $2.5 million in stockholders' equity, $35 million market value of listed securities or $500,000 of net income from continuing operations for the most recently completed fiscal year or two of the three most recently completed fiscal years, Amerityre said in a filing with the SEC.

    Amerityre was notified by the SEC on Oct. 5, 2009, that it was violating the rule, but at that time it submitted a plan to regain compliance and was granted until Jan. 19 to demonstrate compliance with the minimum requirements.

    The company since has determined it cannot achieve compliance with the rule and therefore decided to file to delist.

    Additionally, Amerityre was notified Sept. 16 it was not in compliance with Rule 5550(a)(2), because its stock had traded at less than $1 a share for at least 30 consecutive business days. Amerityre has until March 15 to rectify this, but the company said it can't determine “with certainty” that it would regain compliance.

    Despite the Nasdaq issues, Amerityre said it believes its financial condition and operations are healthy and sustainable and that it should achieve higher revenues for the year ending June 30.

    Amerityre reported a loss of $280,056 in the three months ended Sept. 30 on sales of $1.14 million.

    Letter
    to the
    Editor

    Rubber News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].

    Most Popular
    1
    Continental to build $40 million hose plant in Mexico
    2
    Economists warn of extended inflation, incoming recession
    3
    Curtis Brison leaving Hankook, interim president named
    4
    Michelin to end tire production in Russia, transfer operations
    5
    Michelin growth strategy looks at tires and beyond
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Rubber News delivered straight to your inbox, free of charge.

    Subscribe Today

    Subscribe to Rubber News to get the best coverage and leading insights in the industry.

    SUBSCRIBE
    Connect with Us
    • LinkedIn
    • Facebook
    • Twitter

    MISSION

    To serve companies in the global rubber product industry by delivering news, industry insights, opinions and technical information.

    Contact Us

    2291 Riverfront Pkwy, Suite 1000
    Cuyahoga Falls,
    OH 44221

    Customer Service:
    877-320-1726

    Resources
    • About Us
    • Digital Edition
    • Staff
    • Advertise
    • Order Reprints
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Partner Sites
    • Tire Business
    • European Rubber Journal
    • Plastics News
    • Plastics News China
    • Urethanes Technology
    • Automotive News
    • Crain Brands
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • News
      • Automotive
      • Tire
      • Non-Tire
      • Suppliers
      • ITEC
      • Silicone
      • Online Exclusive
      • Latex
      • Technical Notebooks
      • Executive Action
      • Government/Legal
      • Opinion
      • Rubber Division IEC
      • Blogs
        • Products
        • Wacky World of Rubber
      • Sustainability
    • War in Ukraine
    • Custom
      • Sponsored Content
      • White Papers
    • Resources
      • Directory
      • Classifieds & Mold Mart
    • Data
    • Events
      • RN Events
        • 2022 Hose & Belt Manufacturers Conference
        • 2022 International Silicone Conference
        • 2022 International Tire Exhibition & Conference (ITEC)
        • 2022 Women Breaking the Mold
      • RN Livestreams/Webinars
      • Industry Events
      • Past Events
      • Rubber News M&A Live
    • Advertise
    • DIGITAL EDITION