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Thanks Hulk you always make it real. Coates needs a shareholder's meeting and get people from this board to attend. We would be able to bring any and all questions to George & Son. If any of what occurred the last few weeks is real a face to face would help.
The only thing that matters right now is.........where is the (1) million dollar check. We are way past the time frame GC stated he would receive it.
As usual, a lot of things were discussed about past/present deals with various states (OK was one) in the country but nothing worth mentioning. I did not attend the meeting where the representatives from NJ were there (if they ever were there). I specifically asked George about the Well-to-Wire/Almont fiasco and he said the generators were shipped back to NJ because they needed to be reworked. I then suggested Almont has given U 5 million for R&D and owes U another 5M after production for licensing fees, make a deal with them because it would be a win/win for all parties involved, meaning it's in their best interest for Coates to actually ship things out the door and Almont would start making $$$ for fees and servicing their customers. George said he would not do that. I also questioned him about the durability issues of his generators/engines. He said all of his generators/engines have no durability issues. I asked him when this was resolved and he told me two years ago. This was all done during the Q & A group discussion phase. George also stated he has invested a couple of million dollars of his own family s money the last few years into Coates.
My take of the whole thing is Coates seemed to be as close as they ever been to production. On the other hand George/Jr etc have controlling interest of the company and George is going to do what George wants to do.
Highlights of shareholders meeting(s) last week in which I attended.
1) Per George, Coates International needs 5-10M to begin production on one of their products.
2) They have real orders for a few of their generators/engines
3) Coates wants to do a preferred stock offering 100k minimum investment so they can receive the funds necessary to begin production
4) China deal is real, but the Chinese want majority ownership which George refuses to give
5) Per George, their are no durability issues with any of his products
6) High profibility on all Coates International products
7) Again, the only thing missing for this company to take off is the 5-10 million dollars investment into Coates
I went to the last shareholder meeting several years ago. Not impressed at all. You had a bunch of shareholders pissed off about how their investment into Coates has been a huge disapointment, and George trying to deflect the problems of the company by saying he needs financing. A few investors defended George, which is sad for these people. Almont reps were their trying to secure more investors, saying between Almont and Coates this technology was the way of the future. Pathetic. Nothing ever happened. I asked George specifically how many employees he currently had, he told me "8". I asked him in a year's time how many employees he expected to employ, he looked me in the eye and told me upwards to a "thousand". How many employees does Coates employ now? Probably about 8. For years all we have received is BS. If you go from 8 employees to 1000 employees, the stock doesn't stay and trade at .05 cents a share. Companies would want their product, which means production, which means $$$ to shareholders. All I ever expected from George is the truth. This has not happened. Like Leonardo Dicaprio asks in the current movie The Wolf of Wall Street " who buys this crap at .06 cents a share"? Well I guess it's myself and the other shareholders. I'm going to the Feb 14th meeting and all attending should grill George to find out what the Hell is going on. Does anyone know if Jr.s going? I would imagine he's the future of the company. George is in his 70's. He needs to answer questions too.
It's all pretty simple. Produce something that "works", ship it out the door to someone who wants it, get paid, and keep doing it. They have what, 6-8 people working there? How many employees did they have at the last shareholders meeting? Answer is 6-8 people. What we should all do is start calling George and Gregory and demanding a meeting with the shareholders. At least would could vent at the ones responsible for all this nonsense. I'll call, who else is in?
2.5 million shares traded up 160%. At least something positive!
Up 33% on 400K volume. Something up?
What happened to the shareholder meeting? The first time it was cancelled was because of superstorm Sandy back in November.Understandable. Then it was suppose to happen after the delegation from China left. This occured in January. Well its April and nothing planned. I do not believe anything this company says, and I am an optimist by heart. I have bought and sold this company a few times, but I am at a severe loss because of my inexperience as a trader at the time of purchases. I actually believed something would happen with it's production of engines!Father and son at Coates International need to meet their shareholders face to face like men. But,then again, that would take some integrity, something that is sorely lacking from this company.
Please verify your information
Can I pick them up at the airport?
Nick Kontonicolas on the Board of Directors? Did Coates actually do something right?
"large scale production"? How bout "small scale production". These people just need to work, and stop talking about working.Coates International's priorities are all wrong.
U are 100% right on (1) functioning engine/generator out in the field. Anyone know anything about what's going on with Almont Engineering other than their new website? They must have received about (4) generators over the past 1-2 years. Are they working? Not working?
5,630 orders for CSRV Generators/Engines for 2012? I would very happy with just 630 Generators/Engines out the door before the end of the year.
Replace "testing several more weeks" with several more years, and we need(want), lots and lots of $$$ to pull this off.
Anybody have any real info? Do the engines really work? What's going on up in Alberta?
Is there the possibility of something "real" going on? Confirming one order a week would be a nice start.
Extra bolts-that's a novel idea!
What's with all the volume and only churning? A prerequisite to something?
Lots and Lots of volume yesterday
More cars in the parking lot? Does anybody know how many people are working in the building? More people, more production, hopefully more sales. This would be a good thing.
Heads are cracked? Isn't this basic quality control where these things should not happen? i thought these were the engines of the future. Hey at least they wished us a Happy Holiday.
Crown Prince of Saudi Arabia? Italian Power Co? Maybe George can hire Berlusconi, he may be looking for a job. At least management is pleased.
Maybe they should change the color to keep us on edge
About time for some "domestic news" now that the rest of the business world is presently out of the picture. I like your reference to Memento. George would be better off with no memory.
The only real business going on is the generators being shipped to Almont Energy, Calagary, AB. What we need to know is how many have been shipped? How many are operational? Is Almont happy with them? When are the next shipments going out? How many people work at Coates Int'l? This last question will show if they are ramping up production.
Does anyone have any info on the gensets sent to AB? Are they operational? Any more going out the door? Forget all the other nonsense ie: China, Dubai.
Thank you H Rick. You post factual information. (2) loads of generators within one month out the door to Alberta Canada? I would say that's the best news we ever heard from Coates International.
horrible market. Europe 's a mess. No confidence in Washington. Inflation fears. Alot of money on the sidelines = no interest in a company like Coates International at this time.
Edgar Filing form 4/a last week
News 10K; The kid execised his right to buy 1.8 mil shares at .25 cents per. Maybe something is up.
Your right 4x4, we have all seen them working in the plant, why not outside? At least another one went out the door.
Bad time to own anything, unless of course you are shorting the markets
About time for some kind of news
I think U are right H Rick. It's suppose to be the other way around
What I don't understand is why we can't have a face to face meeting with the upper management at CIL, as in shareholders meeting. Then, we can at least confront them about all issues. Last time, it was about them pushing Well to Wire to buy buy buy into that mess.
The best companies alot of times understate their guidance going foward. Coates does the opposite. This does not work on Wall St. Ask Lucent shareholders when they had a real company.
up .10 need some volume