Recently we held our Annual Meeting at our headquarters in Boulder City, Nevada. Traditionally this has been a lightly attended event, which is unfortunate since this meeting gives our shareholders an opportunity to meet our team and see firsthand what Amerityre is doing to advance its business as well as ask questions about our strategy and where the company is focusing its efforts going forward. We will be posting a copy of my presentation to shareholders to our website under the “Investors” tab.

In summary, here are the high points of the presentation for those of you who were unable to attend our meeting:

  • Amerityre achieved its first profitable year in FY 2017
  • Business conditions continue to be challenging in our target markets, particularly agriculture
  • We continue to see strong growth in our closed cell foam tire business, particularly in the golf cart and baggage cart tire segment
  • Our focus on providing “tire solutions” has enabled us to win business with new customers looking for a superior flat free tire to address their unique applications
  • We continue to invest in Research and Development to improve current formulations and products as well as create new tire solutions for the marketplace
  • Our strategic focus going forward is to identify and engage with business partners who will provide new distribution channels for our products

The end of the year brings the holidays and a time to reflect on where we are as a company and the work we need to do to move forward and continue our improvement in performance. We have come a long way over the past 3 years but there is much work to be done. In closing, I would like to take this opportunity to recognize the following groups for which I am thankful:

  • First, I am thankful for our current customers, whose patronage allows Amerityre the opportunity to provide the marketplace with the world’s best performing flat free polyurethane foam and elastomer tires. We look forward to continue to provide them with our products to address their needs in the agricultural, bicycle, lawn and garden, golf cart, industrial vehicle, hand truck, and mobility markets.
  • I am thankful for our shareholders, who have been patient over the past 3 years as our management team implemented a new strategic plan to improve Amerityre’s corporate health. Improvements in customer service, product quality and operations performance allowed us to achieve annual profitability for the first time in our 20 year history.
  • Finally, I am thankful for our Amerityre employees who have put faith in our strategic plan and worked hard to implement the required changes to allow Amerityre to improve its overall performance.

I look forward to continuing our progress going forward into 2018, serving our current customers as well as increasing our customer base by providing the best tire solutions available.