Coates International Ltd. (fka COTE)

[lkopsaftis]

Most countries require you to open banking accounts to own a business in their country. It is even common for firms to assume small companies in order to quickly get around this and also to gain some insight to the local traditions as well as employee workers that have local contacts.

UPDATE: they do not speak English in China and they don't follow US laws. ANYONE should understand the need to hire Chinese attorneys. Or maybe he should just have the merging entity write the contracts and then just sign them....

Coates sent a news release that he was merging with this Chinese Entity- part of the process would be to structure the merge and this will be a costly undertaking. The fact that this firm gave Coates 1M to expedite the transaction, in good faith, is good news and also a common practice.

As far as doing business with the Chinese - I hate to break the news to you but they own a great deal of this countries debt so what better place to work. MORE BREAKING NEWS - China is the place to make money and Coates is not the first one to realize this.

Ignorance is bliss... but I will not digress.