Wow, so many responses regarding my comments. Let me explain why I have taken the time to address these issues now. First all I just found this site. Over the years I have noted that emails to the company bring no response. But, to understand my motivation you must understand where I come from. My career started in a UAW tractor plant in the Midwest under a “corporate culture” of if it ain’t broke don’t fix it. It matured in Silicon Valley where the culture is do the science first then change the world. As an inventor, designer, ME and decent person I am very offended by what the Coates Company has done to the reputation of my profession and to the investors he has been stealing from with his lies and deception. When I finally found a vent I guess my frustration has just burst forth.
In the late 1990’s in the tradition of Silicon Valley engineers, who get together on weekends and share notes, my colleague called George to share the information I shared with this site. My colleague was rebuffed. As we are doing design work on our valve system last week Coates name came up again. So I called their offices to see if they ever corrected their design problems or were continuing the ruse. I could not believe that he is still selling the same snake oil. Please understand most of us in this field are not like George and company. As an honest inventor trying to protect the reputation of our profession I simply cannot, in good conscience, not speak out.
Coates’ actions are clearly criminal. The investors should do something. If you don't hang together you will hang seperately. Form a committee, hire an engineer, talk to a SEC lawyer. Find out the truth as to why this company with a market cap of almost a hundred million, and the high burn rate which is mostly going into Coates’ pocket has been lying for profit for years. Keep in mind complaining to the SEC is your only protection. Get an SEC investigator in there and find out the truth. The law requires nothing less of management than full disclosure of all issues which affect the value of your company. The federal laws about such things are listed right on your paperwork. “Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a)” Almost everything comming from this company is an "intentional misstatement"! It is up to you guys now. Protect what’s yours!
One last thing, those of you that think that the Coates engine is EPA certified it’s not! Why do you think he is dealing with Canada, and China? He don’t want to go to jail for that… Check the EPA site. No endurance testing has been done only an application has been sent in some three years ago. Nothing more....
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