THE TRUTH
All the people that think COTE is a good company need to relax
All the naysayers that think COTE is a bad company need to relax
All the people criticizing George Coastes and the rest of the management team need to relax.
You all need to do due diligence (these are facts - not my opinions):
1. George Coates has been arrested in the past and charged by the SEC.
2. Coates has yet to make a sale or delivery of one if its engines.
3. The company and its management team has raised $22,267,993.
4. Coates signed a finance deal with Dutchess
4a. Dutchess does toxic financing - stock value never goes up because they dump their shares onto the market.
4b. Coates raised $22 million+ and they still need to do a financing.
4c. Coates has ZERO money in the bank
5. Salaries:
George Coates
2009: $269,231
2008: 242,466
George gets a $300,000 base salary effective immediately, car allowance and many other incentives.
Gregory Coates
2009: $158,653
2008: $135,924
Gregory also gets benefits and allowance.
6. The company has issued press releases announcing delivery dates of its engines ---not one engine has ever been delivered.
7. The company has claimed to be selling these engines to companies (example - Well To Wire) and a few others --none of these companies are legitimate companies that I have been able to do the due diligence on.
My point and purpose for this text is simple - believe what you want, write and post what you want -- but the TRUTH (FACTS) dont lie.
If anyone wants to ciriticize me for this post - you are criticizing the TRUTH (not opinions).
Good luck to everyone
