Coates International Ltd. (fka COTE)

[MarketShark]

Can't believe there are still people buying shares of this company! I understand the potential to make quick flips trading it but anyone considering 'investing' should reconsider. I have no agenda behind this comment other than potentially saving a beginner investor or two from being scammed out of their money!

Mr. Coates has been running this scam for years. Here are a few of the many red flags:

-He was accused of accused of fraud in 1994 for selling shares to investors based on empty promises. Link to article

-Some will say it was a long time ago. Ok but he is still running the same 'company' 25 years later and has just reported a mind blowing $4,800 of sales for three months with operating expenses of $1,100,000 of which includes $820,000 of stock based compensations to himself (see all the Form 4 filings). Why can he do this? Because he is the only member of the board of director and hold more than 50.1% of outstanding shares. Shareholder of a real company have voting rights on topics such as doing an RS or various share issuance. Doesn't apply here because he represents more than half of the voting rights.

-He is now 77 years old. Is he really working his ass off to grow the company and stay true to all the promises he's made over the past 25 years?

I'll leave at those two points. If anyone still thinks otherwise about the fraudulent nature of Coates and his money printing company, I'll gladly debate.. I have a lot more ammo.

For anyone wondering, obviously I was scammed years ago myself by Coates. It was roughly 10 years ago when I was still in school studying finance and had just started investing my own money. I lost only about $800 but at the time it was significant for me. I've lost money on other risky investments in the past 10 years and learned a lot from it but I only hold a grudge against Coates and his company. It's unbelievable and gut wrenching that he's been able to run this obvious scam for so long at the expense of others. He has most likely ruined hundreds of peoples livelihoods over the years in order for him to continue his lavish lifestyle.
Anyways, I hope I deterred at least one person who was considering purchasing shares here due to my post. I would have appreciated it myself 10 years ago!