Coates International Ltd. (fka COTE)

[faqt]

3/31/2017 10Q - news regarding Secure Supply
http://archive.fast-edgar.com//20170511/AE2TVQ2CL222FZ4B22282ZX28V9VZ222Z292/

As of the date of this filing, the Company had not received a $1,000,000, one-time upfront license fee as required by the agreement and cannot determine when, and if, the fee will be collected. Accordingly, the Company has not recorded a $1,000,000 receivable for the past due upfront license fee or recognized any unpaid amount as revenue related to this license agreement. (page 9)

I found very little on Bev-Graph International's Stanley Phillips (related party to Secure Supply) and have doubts about the order's likelihood of being fulfilled by either party.

SECURE SUPPLY USA LLC News - Order/Prospectus

ORDER - 11/30/2016
http://www.marketwired.com/press-release/coates-international-ltd-lands-400000000-usd-transaction-with-secure-supplies-mexico-otc-pink-cote-2179501.htm

CLIENT PROSPECTUS - 12/2016
https://securesupplyusa.com/wp-content/uploads/2016/12/SSUSA-2017-Full-Presentation-document.pdf

ORDER PROGRESS - 3/31/2017 (with Cummins NYSE:CMI)
https://globenewswire.com/news-release/2017/03/21/942618/0/en/Cummins-Delivers-the-First-V12-QST30-G4-Industrial-Engine-to-Coates-International-Ltd-Headquarters-and-Plant-in-New-Jersey-to-be-Retrofitted-With-the-Coates-Patented-CSRV-System-to.html

SECURE SUPPLY AT COATES PLANT - 4/8/2017
https://securesupplyusa.com/2017/04/at-coates-international-facility-yesterday-visiting-our-coates-international-cummins-v12-h2-fueled-engine-with-our-alpha-nj/


RENOWN POWER LTD HONG KONG

$100M LICENSE - 10/27/2016
http://www.marketwired.com/press-release/five-year-business-plan-was-completed-coates-power-ltd-china-delivered-government-officials-otc-pink-cote-2170190.htm

Disclosure: I'm long COTE