PRE AUTHORIZED reverse split: WALL TOWNSHIP, NJ--(Marketwired - Mar 4, 2015) - Coates International, Ltd. (OTCBB: COTE) (the "Company") has received numerous communications from shareholders about the reverse stock split. THE COMPANY HAS NOT DECLARED A REVERSE STOCK SPLIT. The only purpose of the filing on March 2, 2015, made by the Company was to keep all options open and enable the Company to declare a reverse stock split at some indefinite point in the future, if, and only if, the board of directors determines that the market and other conditions for the Company have improved to the point that the reverse stock split is more likely to achieve the intended objectives for such a reverse stock split. The reason it was necessary to make this filing with the SEC now was that the time frame to make a reverse stock split would otherwise have been 30-40 days or more after any future announcement. This SEC filing was simply designed to reduce that timeframe to a matter of a few days and nothing more should be read into it. To be absolutely clear, the Company has no plans to declare a reverse stock split for the foreseeable future unless the conditions for doing so improve sufficiently and our plans to secure listing with a more widely recognized trading platform become more feasible.
They authed it to USE it.
