This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Coates International, Ltd. Stockholders' Update

Stocks in this article: COTE

WALL TOWNSHIP, N.J., April 16, 2012 /PRNewswire/ --   Coates International, Ltd. (NASDAQ OTCBB: COTE) -- Coates International Ltd. (the "Company") would like to provide its shareholders with the following update:

  • Company management has met with an American automobile and aircraft manufacturer who is a potential new customer. Demonstrations of various CSRV engines and generators operating on a number of different fuels including gasoline, natural gas, propane, and a mixture of natural gas and diesel in 1 CYL, 4 CYL, 6 CYL, 8 CYL engines, and Industrial CSRV electric power generators at the Company's headquarters in New Jersey. This potential new customer expressed preliminary interest in entering into a license and procuring up to 50,000 automobile engines and 1,000-5,000 aircraft engines per year. There can be no assurance that these orders will be received until such time as definitive agreements are executed by the parties.
  • Discussions for a transaction with SWT of China have been put on hold for at least another 90 days.
  • The Company is currently in discussions with a number of states to identify the optimal location and incentive package to establish a planned large scale production assembly plant in the United States.  At this time the Company has no definitive agreements in place with any state to commence the setting up of a plant.
  • The Company has continued running and load-testing of its Industrial CSRV electric power, natural gas and diesel engine generators over the past two months and will continue to do so for another three months. Break-in time for these industrial engines is a minimum of 10 cumulative running hours and the Company estimates approximately six months or more is required to perform durability testing.
  • Management comments: "Once the Company commences production of its CSRV engine and generator products, we believe that the benefits of this technology should be well received in our targeted markets. All of our CSRV engines operate on alternative fuels such as natural gas, propane, flare-off gas and syngas, among others. The technology incorporated into our products reduces the consumption of fossil fuels and lowers the production of harmful emissions, while offering increased fuel efficiency. We are proud that we believe we will be able to provide these important benefits which are consistent with our corporate objective of operating as a green company."

About Coates International, Ltd.: Coates has been developing over a period of more than 15 years a patented spherical rotary valve CSRV Internal Combustion Engine invented by George J. Coates and his son Gregory.

Safe Harbor Statement:

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  Please see our filings with the Securities and Exchange Commission.  Our public filings with the SEC may be viewed and printed on the website maintained by the SEC at http://www.sec.gov.

Investor Relations Contact:Equiti-trend Advisors, LLCPhone: 800-953-3350E-Mail: admin1@equititrend.com

THE COATES OFFICIAL NEWS WEBSITE www.coatesengine.com www.mostadvancedengine.com

SOURCE Coates International, Ltd.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs