Coates International Ltd. (fka COTE)

[Garyedward71]

Anytime a CEO engages in any of these convertibles, it's pretty much the same as if the company has filed for bankruptcy. Any default on these notes allows the holder the rights to liquidate all of the shareholders equity. The only difference is that the CEO and the corporation get to keep on going without ever having to file for bankruptcy. As far as the investor is concerned it's really no different. At least with a bankruptcy you get the satisfaction of watching George's factory doors get locked.

At the point that the CEO knew that he couldn't pay the loans off any promotions of the security beyond that point is considered "a scheme to defraud" And if anyone on here actually still thinks that George Coates ever had any intention of paying any of these notes off is naive.