From Rubber & Plastics News
Boulder City, Nevada -- Polyurethane tyre maker Amerityre Corp. said it has halted development work on automotive and composite tyres because of funding problems.
The Boulder City-based company, which develops, manufactures and sells polyurethane tyres, said in a stock filing that because of 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."
Amerityre reported an operating loss of $184 345 on revenues of $1.35 million for the three months ended 30 Sept. That compares with an operating loss of $298 287 on revenues of $917 646 in the same period a year earlier.
Sales increased to $837 000 from $500 000, the company said, and Amerityre raised $40 000 from sales of equipment in the 2011 period.
(Rubber & Plastics News is a sister publication to Urethanes Technololgy International.)