- Mr. Coates comments, "We have worked extremely long and hard to develop the Coates CSRV products, and I believe that it is not necessary to have two public companies. A production division of Coates International, Ltd. is the way to go, where Coates International, Ltd. will still be the owner of all the assets and future profits of sales and licensing revenues. This also protects all our shareholders' interests."
- James Pang is still in China negotiating with the Hungang government regarding an incentive package for the merger of Coates International, Ltd with a Chinese company to establish a production operation of the Coates CSRV products in China.
Coates International, Ltd. Cancels Plan To Spin-Off Assets To Coates Hi-Tech Engines, Ltd.; Production Operations Will Now Be Established Under A Division Of Coates International, Ltd.
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