Do not let the invention interfere with the investment. Don't just be wowed by the technology...ask the difficult questions. The past is just as important as the present and future. I know, I've been there. I was at the shareholder presentation in Wall about 7 or so years ago. A lot of talk about the technology, not so much about the stock. A lot of pie-in-the-sky promises and shareholders took it hook line and sinker. My questions about old deals got deflected by George unceremoniously. He started up one of the engines. All I can say is that it was large and loud. There was no proof that it worked or was durable.
Think about this...in 2000 they announced the deal with Well-to-Wire (and later Almont) for the Canadian natural gas engines. There was all this talk about a firm order for $1.5 billion in engines. They also announced that they were no longer in R&D and were moving into production. 14 years later, how many of these engines are in production? My guess...a little less than 1. So what has happened in those 14 years? There were diversions into a motorcycle company, diversions into home generators and now there are diversions into hydrogen powered engines. Sadly, George has only been an engine hobbyist during his tenure at Coates while shareholders have footed his garage/lab and the Coates Family Trust. I'm sorry to diminish all the work he's done as an inventor on refining the engine, but as a shareholder you need to eventually see results and a return on your investment. He has failed miserably in that regard by any measuring stick.
Keep George on point about how he's going to build a successful company so that shareholders can monetize their shares at a profit. Do not let him deflect away from the difficult questions...the questions that shareholders have needed answers to for 25 years or more.
