Nasdaq may force Amerityre to de-list over non-compliance

ERJ staff report (DS)

Boulder City, Nevada -- Amerityre Corp. may be forced to de-list from the NASDAQ if it does not meet compliance rules by 20 October. The company was notified by NASDAQ on 5 October, 2009 that it has been out of compliance since June 30, 2009, due to low stockholders' equity requirement.

Nasdaq rules require all listed companies to have a minimum of $2,500,000 in stockholders' equity, $35,000,000 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.

On or before October 20, 2009, the Company is required to provide NASDAQ with a specific plan of how it will achieve and sustain compliance with NASDAQ Capital Market listing requirements, including a time frame for completion of such plan. The Company said it expects to provide a plan of action as require.

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Press release from Amerityre