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| | Business Summary: Amerityre Corporation manufactures, markets, distributes, and sells flatfree specialty tires and tire-wheel assemblies in Nevada. | | | Address
1501 Industrial Road
Boulder City
, NV 89005-1709
Phone: 702-294-2689
Fax: 702-294-3873
Website: http://www.amerityre.com
| | Auditor |
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HJ & Associates
| | Transfer Agent |
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Interwest Transfer Co. Inc.
| Employees: 17
ShareHolders: 500 | Founded: 1995
Domicile: Nevada | | | |
| | Amerityre Corporation manufactures, markets, distributes, and sells flatfree specialty tires and tire-wheel assemblies in Nevada. It offers various lines of polyurethane foam tires for bicycles, wheelchairs, and outdoor power equipment products, as well as for lawn and garden products, such as wheelbarrows and hand trucks. The company also provides tire fill materials for use in construction, industrial, and mining applications. In addition, it develops polyurethane elastomer forklift and skid steer tires for heavy-use applications; and flame retardant polyurethane foam for use as packaging material. The company was formerly known as American Tire Corporation and changed its name to Amerityre Corporation in December 1999. Amerityre Corporation was founded in 1995 and is based in Boulder City, Nevada. | | History: INCORPORATED in Nevada Jan. 30, 1995, as American Tire Corp. Name changed to Amerityre Corp. Dec. 6, 2000. | | | | | | Capital Expenditures, thousand. US Dollars |
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| Year | Amount | | 2009 | 37 |
| | | | | | Research and Development Expenditures, thousand. US Dollars |
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| Year | Amount | | 2009 | 190 |
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Management
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| Officers | Position |
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| Louis M. Haynie | Chairman | | Michael J. Kapral, Jr. | President & Chief Executive Officer | | Anders A. Suarez | Secretary, Chief Accounting Officer, Chief Financial Officer & Treasurer | | James G. Moore, Jr. | Chief Operating Officer | | Elliott N. Taylor | General Counsel | | Sean Collins | Investor Relations Contact |
| | Directors |
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| Gary N. Benninger | | Francis E. Dosal | | Steve M. Hanni | | Louis M. Haynie | | Henry D. Moyle, Jr. | | Timothy L. Ryan | | Wesley G. Sprunk | | Gary M. Tucker | | | |
| | | | Capitalization as of 06/30/2009: | | | | | Authorized Shares | Outstanding Shares |
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| Preferred $0.001 par | 5,000,000 | None | | Common $0.001 par | 40,000,000 | 26,233,644 |
| | | | LONG TERM DEBT: None. | | | | Common $0.001 par | | | |
Stockholders:
09/11/2009,
500.
| | PRINCIPAL STOCKHOLDERS: September 25, 2009, Henry D. Moyle owned or controled 6.5% of the Common. | | | |
Transfer Agent: Interwest Transfer Co. Inc.
Salt Lake City
, UT | | | | OTC Bulletin Board( Primary): AMTY | | | | Exchange | Year | High | Low |
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| OTC Bulletin Board | 2010 | 0.0000 | 0.0000 | | Nasdaq Capital Market | 2009 | 1.0000 | 0.1700 | | Nasdaq Capital Market | 2008 | 2.8500 | 0.0100 | | Nasdaq Capital Market | 2007 | 5.4000 | 1.4000 | | Nasdaq Capital Market | 2006 | 9.5600 | 3.5300 | | OTC Bulletin Board | 2005 | 8.1000 | 4.1500 | | OTC Bulletin Board | 2004 | 12.9500 | 5.8000 | | OTC Bulletin Board | 2003 | 7.0000 | 1.9200 | | OTC Bulletin Board | 2002 | 4.0200 | 1.7000 | | OTC Bulletin Board | 2001 | 5.8750 | 1.7500 |
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| | | | DIVIDENDS: Common $0.001 par: None. | | | | | |
| | Annual Report |
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| | | Income Statement | |
| 2009 | 2008 | 2007 |
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| REVENUES |
|
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| | Products | 2,796,095 | 2,617,337 | 2,620,587 | | Licenses | 33,333 | 210,000 | 266,667 | | Equipment | 372,161 | 62,690 | 540,000 | | Total Revenues | 3,201,589 | 2,890,027 | 3,427,254 | | EXPENSES |
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| | Products | (1,994,930) | (1,855,160) | (1,826,668) | | Equipment | (332,512) | (65,236) | (556,677) | | Consulting | (355,209) | (393,392) | (286,274) | | Selling, General and Administrative | (3,586,412) | (4,141,411) | (4,655,456) | | Research and Development | (190,030) | (572,097) | (834,647) | | Depreciation and Amortization | (258,311) | (294,252) | (379,127) | | Interest Income | 38,571 | 206,053 | 101,290 | | Miscellaneous Income/expense | (3,475) | 2,970 | 7,314 | | Loss on Sale and Impairment of Assets | (143,180) | (926) | (4,831) | | Earnings before Taxes | (3,623,899) | (4,223,424) | (5,007,822) | | TAXES AND OTHER EXPENSES |
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| | Net Income (Loss) | (3,623,899) | (4,223,424) | (5,007,822) | | SUPPLEMENTARY INFO |
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| | Gross Profit/loss | 874,147.00 | 969,631.00 | 1,043,909.00 | | Operating Income (Loss) | (3,658,995) | (4,432,447) | (5,116,426) | | Basic & Diluted EPS - Continuing Operations | (0.15) | (0.18) | (0.23) |
| | | | Balance Sheet | |
| 2009 | 2008 |
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| CURRENT ASSETS |
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| | Cash and Cash Equivalents | 28,634 | 1,701,191 | | Accounts Receivable, Net | 480,433 | 494,690 | | Inventory | 642,087 | 819,403 | | Prepaid and Other Current Assets | 28,486 | 140,241 | | Deposit on Equipment | 89,721 | 147,047 | | Total Current Assets | 1,269,361 | 3,302,572 | | NON CURRENT ASSETS |
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| | Construction in Progress | - | 7,564 | | Furniture and Fixtures | 100,142 | 100,142 | | Equipment | 2,901,413 | 2,901,620 | | Molds and Models | 536,345 | 495,214 | | Leasehold Improvements | 162,683 | 162,683 | | Software | 286,046 | 286,046 | | Accumulated Depreciation | (3,058,271) | (2,831,691) | | Patent and Trademark, Net | 601,774 | 658,534 | | Deposits | 71,568 | 71,568 | | Total Assets | 2,871,061 | 5,154,252 | | CURRENT LIABILITIES |
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| | Accounts Payable | 464,309 | 212,467 | | Accrued Expenses | 247,554 | 111,205 | | Related-party Convertible Note | 310,000 | - | | Deferred Revenue-special Projects | 6,787 | 9,451 | | Total Current Liabilities | 1,028,650 | 333,123 | | SHAREHOLDERS' EQUITY |
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| | Common Stock - Par Value | 26,231 | 23,427 | | Additional Paid in Capital | 56,897,610 | 56,275,160 | | Retained Deficit | (54,643,220) | (51,019,320) | | Notes Receivable | (438,206) | (399,329) | | Accrued Interest on Note Receivable | - | (25,480) | | Deferred Consulting and Directors Compensation | - | (33,331) | | Total Shareholders Equity | 1,842,411 | 4,821,129 | | Total Liabilities & Shareholders Equity | 2,871,061 | 5,154,252 |
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| | Interim Report
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| | | Data Not Available | | | | | | | | | |
| | Pro Forma Report
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| | | Data Not Available | | | | | | | | | |
| | Quarterly Report Information
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| | | Quarterly Revenue, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | 1,140,000 | | 2010 |
2 | 750,000 | | 2010 |
3 | 880,000 | | 2009 |
1 | 850,000 | | 2009 |
2 | 710,000 | | 2009 |
3 | 770,000 | | 2009 |
4 | 860,000 | | 2009 |
Full Year
| 3,200,000 | | 2008 |
1 | 660,000 | | 2008 |
2 | 530,000 | | 2008 |
3 | 830,000 | | 2008 |
4 | 860,000 | | 2008 |
Full Year
| 2,890,000 | | 2007 |
1 | 640,000 | | 2007 |
2 | 600,000 | | 2007 |
3 | 720,000 | | 2007 |
4 | 1,470,000 | | 2007 |
Full Year
| 3,430,000 | | 2006 |
1 | 440,000 | | 2006 |
2 | 300,000 | | 2006 |
3 | 570,000 | | 2006 |
4 | 720,000 | | 2006 |
Full Year
| 2,030,000 | | 2005 |
1 | 340,000 | | 2005 |
2 | 300,000 | | 2005 |
3 | 490,000 | | 2005 |
4 | 550,000 | | 2005 |
Full Year
| 1,680,000 |
| | | | | | Quarterly Net Income, US$ |
|---|
| Year | Quarter | Revenue | | 2010 |
1 | (280,000) | | 2010 |
2 | (460,000) | | 2010 |
3 | (330,000) | | 2009 |
1 | (1,050,000) | | 2009 |
2 | (990,000) | | 2009 |
3 | (680,000) | | 2009 |
4 | (900,000) | | 2009 |
Full Year
| (3,620,000) | | 2008 |
1 | (1,090,000) | | 2008 |
2 | (1,030,000) | | 2008 |
3 | (1,010,000) | | 2008 |
4 | (1,100,000) | | 2008 |
Full Year
| (4,220,000) | | 2007 |
1 | (1,200,000) | | 2007 |
2 | (1,250,000) | | 2007 |
3 | (1,510,000) | | 2007 |
4 | (1,050,000) | | 2007 |
Full Year
| (5,010,000) | | 2006 |
1 | (1,210,000) | | 2006 |
2 | (1,330,000) | | 2006 |
3 | (1,520,000) | | 2006 |
4 | (1,270,000) | | 2006 |
Full Year
| (5,324,200) | | 2005 |
1 | (7,160,000) | | 2005 |
2 | (860,000) | | 2005 |
3 | (990,000) | | 2005 |
Full Year
| (10,073,000) |
| | | | | | Quarterly EPS, US$ |
|---|
| Year | Quarter | Revenue | | 2010 |
1 | (.01) | | 2010 |
2 | (.01) | | 2010 |
3 | (.01) | | 2009 |
1 | (.04) | | 2009 |
2 | (.04) | | 2009 |
3 | (.03) | | 2009 |
4 | (.03) | | 2009 |
Full Year
| (.15) | | 2008 |
1 | (.05) | | 2008 |
2 | (.04) | | 2008 |
3 | (.04) | | 2008 |
4 | (.05) | | 2008 |
Full Year
| (.18) | | 2007 |
1 | (.06) | | 2007 |
2 | (.06) | | 2007 |
3 | (.07) | | 2007 |
4 | (.05) | | 2007 |
Full Year
| (.23) | | 2006 |
1 | (.06) | | 2006 |
2 | (.07) | | 2006 |
3 | (.07) | | 2006 |
4 | (.06) | | 2006 |
Full Year
| (.26) | | 2005 |
1 | (.38) | | 2005 |
2 | (.05) | | 2005 |
3 | (.05) | | 2005 |
4 | (.05) | | 2005 |
Full Year
| (.53) |
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