926763--3/16/2007--ASV_INC

related topics

{product, candidate, development}

{product, liability, claim}

{competitive, industry, competition}

{customer, product, revenue}

{personnel, key, retain}

{condition, economic, financial}

{property, intellectual, protect}

{stock, price, share}

{provision, law, control}

{cost, regulation, environmental}

{acquisition, growth, future}

{product, market, service}

Our business could be materially harmed if Caterpillar did not actively support and cooperate with us to provide us with various commercial services. Caterpillar has the ability to influence or control us, which could negatively affect other shareholders and could discourage offers by third parties to acquire us. If Caterpillar begins selling, or is perceived to be selling, its shares of our Common Stock, the market price of our Common Stock may fall. If we are unable to manage growth effectively, our business, results of operations and financial condition would be materially adversely affected. A disruption or termination of our relationships with certain suppliers could have a material adverse effect on our operations. A number of our competitors have more resources and more established reputations than us. If we do not compete effectively, our business will be harmed. If our rubber track vehicles do not continue to receive market acceptance, our operating results will be harmed. Our business could be harmed if the Commercial Alliance Agreement with Vermeer Manufacturing Inc. does not prove to be beneficial. Our business may be adversely affected if we are unable to successfully develop new products or if new products developed are unable to gain market acceptance. A cyclical, economic downturn in the construction or farm equipment industries could materially harm our business. The loss of the services of any key member of our management could have a material adverse effect on our ability to achieve our objectives. We may face product liability claims, which could result in losses in excess of our insurance coverage or in our inability to obtain adequate insurance coverage in the future. Our business would be adversely affected if we are not able to protect our intellectual property rights or if we get involved in litigation relating to our intellectual property rights. We may be unable to manufacture our products if any of our manufacturing facilities is damaged, destroyed or becomes otherwise inoperable. We are subject to extensive governmental regulations, and compliance with such regulations is costly.

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926763--3/16/2007--ASV_INC_/MN/