BOULDER CITY, NV / ACCESSWIRE / October 7, 2019 / Amerityre Corporation (the 'Company') (OTCQB:AMTY) released the following comments in response to a request from the OTC Markets concerning a recent distribution of promotional materials. The Company only learned of the promotional materials when notified by the OTC Markets on October 3, 2019. The promotional materials consisted of at least three newsletters dated October 3, 2019, two from Pro Trader Elite and one from Penny Stock Titans, each of which appeared to encourage readers to invest in the Company's common stock.
The materials on page 1 of the promotional materials from each of the above newsletters state that the Company 'is in the tire business and with a million cars on the road across the world, the market is very significant[.]' That sentence is misleading since the Company does not manufacture tires for cars. Amerityre produces tires for bicycles, hand trucks, lawn and garden equipment, golf car and personnel carrier vehicles, forklifts, agricultural equipment and mobility applications. All of our tires are designed for 'non-highway service'. Shareholders should only rely upon information filed by the Company with the Securities and Exchange Commission, or otherwise distributed by the Company.
At close of business on September 27, 2019, the trading price of the Company's stock was $0.018. On October 3, 2019, the range of prices reported by OTC Markets was $0.02 to $0.04 per share, and 2,496,604 shares were reported to have traded that day. Average daily trading volume of the Company's stock for the preceding 30-day period was less than 30,000 shares.
While the Company is still trying to identify the source of the promotional materials, after inquiry of management, directors, and control persons (those owning 10% or more or the Company's securities) the Company can confirm that none of these persons were involved. Further, none of these persons have sold any shares within the past 90 days.
The Company has not engaged any third-party providers to provide investor relations services, public relations services, marketing, or any other related services during the past 12 months. Since the Company's current management team has been in place (December 2014), the Company has never issued shares or convertible instruments at prices constituting a discount to the current market rate at the time of issuance.
About Amerityre Corporation: Information about the Company can be found on our website: https://amerityre.com/company/.
SOURCE: Amerityre Corporation
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