I picked some more up yesterday (bit premature it appears). They recently released some good news:
------------------Leading RV Manufacturer Ordering SmarTire Products
Wednesday June 16, 9:30 am ET
Bob Dickman Tire Center supplying next generation SmarTire for RVs to Country Coach
RICHMOND, BC, June 16 /PRNewswire-FirstCall/ - SmarTire Systems Inc. (OTCBB: SMTR - News) today announced that its distributor, Bob Dickman Tire Center, is supplying the Company's products to Country Coach Inc. as standard equipment on the Prevost line and as an option on their other lines. SmarTire for RVs is the next generation tire pressure monitoring system (TPMS) specifically designed to meet the needs of recreational vehicles. Country Coach is a leading RV manufacturer with an extensive line of coaches including the Inspire, Allure, Intrigue, Magna, Affinity, Lexa and Prevost XLII Conversion, and the DynoMax® chassis.
The new SmarTire for RVs system incorporates the Company's new high pressure transmitters, an improved receiver as well as a graphic display mounted in view of the driver. SmarTire for RVs monitors both tire pressure and temperature, warning the driver if a tire is under-inflated, loses pressure while driving or if the tire temperature rises abnormally. This tire information is critical for the safe and efficient operation of a recreational vehicle.
An important new feature of the SmarTire for RVs system is that it can be configured to include additional low pressure sensors to monitor the wheels of a towed vehicle or trailer. This complete system provides RV owners with a new level of safety, convenience and piece of mind, knowing that all the wheels on their RV and towed vehicle or trailer are being monitored.
The systems for Country Coach are being supplied and installed by Bob Dickman Tire Center in Junction City, Oregon. SmarTire for RVs can also be installed as an aftermarket product on most recreational vehicles.
"We are honored that such a well established manufacturer as Country Coach has chosen our system for its prestigious line of recreational vehicles," says John Taylor-Wilson, VP Sales & Marketing, SmarTire Systems Inc. "RV tires operate very close to their load limits. Therefore, operating on under-inflated tires can have disastrous consequences. Our new SmarTire for RVs provides a complete tire monitoring and early warning system that covers not only the coach but also the assets being towed behind."
The sale of recreational vehicles is an approximately $12B industry in the US, growing at an annual rate of 7%. As is the case with passenger car tires, recreational vehicle tire under-inflation is a serious concern. A study conducted by the Recreational Vehicle Safety Education Foundation revealed that four out of five RVs had at least one tire under-inflated and a third of those were dangerously under-inflated to the point of being at risk of failure.
SmarTire Systems Inc. develops and markets proprietary tire monitoring systems for the transportation industry worldwide. Incorporated in 1987, SmarTire is a public company with offices in North America and Europe. Additional information can be found at www.smartire.com.
"Al Kozak"
Al Kozak
Chief Operating Officer
Email: investor_relations@smartire.com
Judy Leclercq, 1-800-982-2001
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Their latest financials may have played a role in this recent drop, but they really don't look all that bad to me. Between the recent motorcycle and RV sales, and more importantly the pending legislation, I feel comfortable holding this one.
Of course, I'm always looking for a counterpoint, so all thoughts appreciated.
GLTA
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