Unity Meshes for C# generated objects

Hi I was wondering if anyone could help me with a problem I've got involving generating 3D text using C# script

included in the class definition

         textM.name = inTarget.Name;
         textM.AddComponent(typeof(TextMesh));

Defined within the constructor

         text = (TextMesh)textM.GetComponent(typeof(TextMesh));
         newMat = (Material)Resources.Load(@"material.mat", typeof(Material));
         text.renderer.material = newMat;

No matter what material I use or how I seem to load it the text appears pink (as well as any primitives which use the same material)

Thank you for your time in advance,