Abakan Inc (ABKI) 0.2000 $ABKI
Court Rules Against Abakan and Appoints a Receiver for MesoCoat
Marketwired - Fri Aug 21, 10:04AM CDT
Abakan Inc. (OTCQB: ABKI) ("Abakan"
, an emerging leader in the advanced coatings market, announces that on August 19, 2015 the United States District Court of the Southern District of New York granted a summary judgment motion in favor of George Town Associates, S.A. ("George Town" against Abakan and MesoCoat, Inc., its wholly owned subsidiary. The Court's ruling focused on the contractual basis of the loan obligation, and declined to consider Abakan's wider defenses that allege, among other things, that George Town and Abakan's other lender, Sonoro Invest SA, are controlled by a single individual, who Abakan contends, was engaged in a scheme to defraud Abakan of its assets. The Court issued an order finding Abakan and MesoCoat liable for the full principal and interest due in the amount of $1,770,932. On August 19, 2015, the Court appointed a receiver over MesoCoat to administer payment of the judgment.
Abakan Acquires 100% Ownership of MesoCoat
Marketwired - Mon Jul 27, 7:30AM CDT
Abakan Inc. (OTCQB: ABKI) ("Abakan", an emerging leader in the advanced coatings market, is pleased to announce that, following its long term strategy, Abakan has increased ownership in subsidiary, MesoCoat Inc. to 100%. In exchange for 20.5% of Abakan's minority ownership in Powdermet Inc. (from 24.1% to 3.6%), Abakan has acquired from Powdermet: the remaining 11.9% of MesoCoat, along with land and equipment worth $550,000, the extinguishment of existing inter-company debt of $486,000, the return of 400,000 outstanding Abakan common shares to authorized capital and $1,000,000 in cash.
Abakan Secures Test Orders From Major Industry Leaders
Marketwired - Wed Jul 15, 9:39AM CDT
Abakan Inc. (OTCQB: ABKI) ("Abakan", an emerging leader in the advanced coatings markets, today announced that it has secured test orders from industry majors for its PComP thermal spray coating powders as a result of its presentations at the recent Offshore Technology Conference (OTC) and International Thermal Spray Conference (ITSC).
Abakan Receives First Commercial Order From Mexico for PComP Coatings
Marketwired - Wed Jun 10, 10:01AM CDT
Abakan Inc. (OTCQB: ABKI) ("Abakan", an emerging leader in the advanced coatings and metal formulations markets, today announced that its subsidiary, MesoCoat de Mexico S.A. de C.V., has received its first commercial PComP order for the coating of certain large roller screens from one of the largest steel manufacturing and iron ore processing companies in Mexico. The initial order is expected to be followed by repeat orders and an annual contract to coat all of the rolls used at this facility as we earn their confidence with outstanding material results in critical areas. Abakan has also received orders for coating "lances" which are used heavily in iron ore production and anticipates trial orders for coating tuyeres, pumps, clad plates, turbines and other manufacturing components. "The potential size of an order for coating rolls and lances with PComP, at just this one facility, is approximately $1 million annually. Considering, on average, a five times increase in the useful life of PComP coated components, we believe that more than 100 steel manufacturing and iron ore processing facilities worldwide could benefit greatly from adopting PComP," stated Abakan CEO, Mr. Robert Miller.
Abakan Announces Interim CFO
Marketwired - Thu May 28, 7:02AM CDT
Abakan Inc. (OTCQB: ABKI) ("Abakan", an emerging leader in the advanced coatings and metal formulations markets, reports that Costas M. Takkas, its CFO has been detained in Switzerland, based on an indictment issued by the U.S. District Court, Eastern District of New York charging him with certain activities unrelated to his position with Abakan. Based on this development, Abakan has suspended Mr. Takkas from undertaking any further responsibilities as its CFO. Robert Miller, Abakan's CEO will now also act as interim CFO.
Abakan Incorporates MesoCoat de Mexico and Appoints Jose Maria Ribot as Its President and CEO
Marketwired - Wed May 27, 7:02AM CDT
Abakan Inc. (OTCQB: ABKI) ("Abakan", an emerging leader in the advanced coatings and metal formulations markets, proudly announces that its subsidiary, MesoCoat, Inc., has incorporated a wholly owned subsidiary in Mexico, MesoCoat de Mexico S.A. de C.V., and has appointed Mr. Jose Maria Ribot Barroso as its President and CEO. In September 2013, Metallurgic Solutions, SA de CV (MetalSol), where Mr. Ribot serves as the CEO, signed an exclusive sales agreement with MesoCoat, Inc. for the sale and distribution of MesoCoat's products in Mexico and Central America. Coincident with Mr. Ribot's appointment as CEO of MesoCoat de Mexico, MesoCoat terminated its sales agency agreement with MetalSol.
Abakan Settles Lawsuit With Sonoro
Marketwired - Fri May 22, 7:01AM CDT
Abakan Inc. (OTCQB: ABKI) ("Abakan", an emerging leader in the advanced coatings and metal formulations markets, today announced that it has entered into a Settlement Agreement with Sonoro Invest S.A. ("Sonoro", in connection with a dispute regarding promissory notes for an aggregate principal amount of $2,105,000, which caused Sonoro to file a lawsuit against Abakan on October 1, 2014, in the United States District Court for the Southern District of Florida.
Abakan to Present at International Thermal Spray Conference and Exposition 2015
Marketwired - Fri May 08, 11:23AM CDT
Abakan, Inc. (OTCQB: ABKI) ("Abakan", an emerging leader in the advanced coatings and metal formulations markets, proudly announces that its subsidiary, MesoCoat, Inc. ("MesoCoat", has been invited to give two presentations on its PComP(TM) thermal spray coating materials at the International Thermal Spray Conference and Exhibition 2015. ITSC 2015, the world's largest thermal spray conference and exposition, is to be held May 11-14 at the Long Beach Convention & Entertainment Center in Long Beach, California. MesoCoat will also be exhibiting in booth #1624 at the conference. Please see MesoCoat's presentation and exhibition schedule below and make sure to visit MesoCoat representatives in booth #1624.
Abakan - Planned PComP(TM) Thermal Spray Powder Production Ramp-Up Exceeds Target
Marketwired - Tue May 05, 8:55AM CDT
Abakan Inc. (OTCQB: ABKI) ("Abakan", an emerging leader in the advanced coatings and metal formulations markets, proudly announces that it has surpassed the initial goal for Phase I scale-up of its PComP(TM) thermal spray powder production, from 6,000 pounds/year to 36,000 pounds/year. Abakan has actually increased its PComP production capacity to 60,000 pounds/year. At the current sales price, Abakan's 60,000 pounds/year production could translate to approximately $5M in annual thermal spray powder sales and help facilitate Abakan's expansion of its PComP thermal spray coating services business, which could add an additional $1.5M in annual revenues by fully utilizing our existing thermal spray cell and adding another eight hour shift.
UP Scientech Completes Initial Testing of Abakan's CermaClad Wear-Plates
Marketwired - Mon Apr 13, 12:38PM CDT
Abakan Inc. (OTCQB: ABKI) ("Abakan", an emerging leader in the advanced coatings and metal formulations markets, today announced that its partner in Asia, one of the largest international wear-plate manufacturers, UP Scientech Materials Corp. ("UP Scientech" (TWSE: 2068), has completed initial testing of CermaClad wear-resistant clad plates. The outstanding metallurgical and mechanical properties of CermaClad wear-resistant clad plates, coupled with UP Scientech's sales and marketing channels in 35 countries, is expected to accelerate market adoption and drive growth for Abakan's CermaClad wear-resistant clad plate products.
Abakan's PComP Protective Coatings Gaining Traction in North America and Asia
Marketwired - Thu Feb 05, 9:08AM CST
Abakan Inc. (OTCQB: ABKI) ("Abakan", an emerging leader in the advanced coatings and metal formulations markets, announces several recent developments related to its PComP protective coatings. Abakan has completed field testing of a PComP coating at one of the largest steel companies in Mexico and as a result anticipates a commercial order of the product. Meanwhile, Abakan is now testing its PComP coatings in Taiwan in cooperation with its partner in Asia, UP Scientech Materials Corp. Furthermore, Abakan has received its first repeat orders from an international oil field services customer in Canada.
Abakan Appoints Stephen Goss as Chief Operating Officer
Marketwired - Tue Jan 27, 10:28AM CST
Abakan Inc. (OTCQB: ABKI) ("Abakan", an emerging leader in the advanced coatings and metal formulations markets, today announced that, effective January 1, 2015, the Company has appointed Mr. Stephen Goss as its Chief Operating Officer. Mr. Goss will continue to serve as the Chief Executive Officer of Abakan's subsidiary MesoCoat, Inc.
Abakan 2014 Year in Review
Marketwired - Mon Jan 05, 12:08PM CST
Abakan Inc. (OTCQB: ABKI) ("Abakan", an emerging leader in the advanced coatings and metal formulations markets, today distributed Abakan's 2014 Year in Review, as previously disclosed as an exhibit to its Form 8-K filed with the Commission on December 31, 2014.
Abakan Secures Strategic Investment from Global Wear-Resistant Clad Plate Manufacturer
Business Wire - Fri Nov 14, 8:54AM CST
Abakan Inc. (OTCQB: ABKI) ("Abakan", an emerging leader in the advanced coatings and metal formulations markets, today announced that it has secured a $3M strategic investment from the world's largest wear-resistant clad plate manufacturer, UP Scientech Materials Corp. ("UP Scientech". In addition to the investment, UP Scientech have entered into an agreement to develop, manufacture, and sell Abakan's PComP thermal spray coating and CermaClad clad metal products in Taiwan, China, Japan, and Korea on a joint venture basis.
MesoCoat Receives Two (New) Grants to Develop CermaClad(TM) Arc Lamp Applications
Business Wire - Mon Oct 06, 11:03AM CDT
Abakan Inc. (OTC:ABKI) ("Abakan", an emerging leader in the advanced coatings and metal formulations markets, today announced that its subsidiary, MesoCoat, Inc. ("MesoCoat", along with Oak Ridge National Laboratory (ORNL), have been awarded $1 Million by the Department of Energy ("DOE" to develop a process to join dissimilar metal alloys. The award will be shared equally. Additionally, MesoCoat has won a $150,000 SBIR (Small Business Innovation Research), award from the National Institute of Health (NIH) to develop antimicrobial coatings using its high-speed large-area metal cladding technology CermaClad(TM).
Court Rules Against Abakan and Appoints a Receiver for MesoCoat
Marketwired - Fri Aug 21, 10:04AM CDT
Abakan Inc. (OTCQB: ABKI) ("Abakan"
, an emerging leader in the advanced coatings market, announces that on August 19, 2015 the United States District Court of the Southern District of New York granted a summary judgment motion in favor of George Town Associates, S.A. ("George Town" against Abakan and MesoCoat, Inc., its wholly owned subsidiary. The Court's ruling focused on the contractual basis of the loan obligation, and declined to consider Abakan's wider defenses that allege, among other things, that George Town and Abakan's other lender, Sonoro Invest SA, are controlled by a single individual, who Abakan contends, was engaged in a scheme to defraud Abakan of its assets. The Court issued an order finding Abakan and MesoCoat liable for the full principal and interest due in the amount of $1,770,932. On August 19, 2015, the Court appointed a receiver over MesoCoat to administer payment of the judgment. Abakan Acquires 100% Ownership of MesoCoat
Marketwired - Mon Jul 27, 7:30AM CDT
Abakan Inc. (OTCQB: ABKI) ("Abakan"
, an emerging leader in the advanced coatings market, is pleased to announce that, following its long term strategy, Abakan has increased ownership in subsidiary, MesoCoat Inc. to 100%. In exchange for 20.5% of Abakan's minority ownership in Powdermet Inc. (from 24.1% to 3.6%), Abakan has acquired from Powdermet: the remaining 11.9% of MesoCoat, along with land and equipment worth $550,000, the extinguishment of existing inter-company debt of $486,000, the return of 400,000 outstanding Abakan common shares to authorized capital and $1,000,000 in cash. Abakan Secures Test Orders From Major Industry Leaders
Marketwired - Wed Jul 15, 9:39AM CDT
Abakan Inc. (OTCQB: ABKI) ("Abakan"
, an emerging leader in the advanced coatings markets, today announced that it has secured test orders from industry majors for its PComP thermal spray coating powders as a result of its presentations at the recent Offshore Technology Conference (OTC) and International Thermal Spray Conference (ITSC). Abakan Receives First Commercial Order From Mexico for PComP Coatings
Marketwired - Wed Jun 10, 10:01AM CDT
Abakan Inc. (OTCQB: ABKI) ("Abakan"
, an emerging leader in the advanced coatings and metal formulations markets, today announced that its subsidiary, MesoCoat de Mexico S.A. de C.V., has received its first commercial PComP order for the coating of certain large roller screens from one of the largest steel manufacturing and iron ore processing companies in Mexico. The initial order is expected to be followed by repeat orders and an annual contract to coat all of the rolls used at this facility as we earn their confidence with outstanding material results in critical areas. Abakan has also received orders for coating "lances" which are used heavily in iron ore production and anticipates trial orders for coating tuyeres, pumps, clad plates, turbines and other manufacturing components. "The potential size of an order for coating rolls and lances with PComP, at just this one facility, is approximately $1 million annually. Considering, on average, a five times increase in the useful life of PComP coated components, we believe that more than 100 steel manufacturing and iron ore processing facilities worldwide could benefit greatly from adopting PComP," stated Abakan CEO, Mr. Robert Miller. Abakan Announces Interim CFO
Marketwired - Thu May 28, 7:02AM CDT
Abakan Inc. (OTCQB: ABKI) ("Abakan"
, an emerging leader in the advanced coatings and metal formulations markets, reports that Costas M. Takkas, its CFO has been detained in Switzerland, based on an indictment issued by the U.S. District Court, Eastern District of New York charging him with certain activities unrelated to his position with Abakan. Based on this development, Abakan has suspended Mr. Takkas from undertaking any further responsibilities as its CFO. Robert Miller, Abakan's CEO will now also act as interim CFO. Abakan Incorporates MesoCoat de Mexico and Appoints Jose Maria Ribot as Its President and CEO
Marketwired - Wed May 27, 7:02AM CDT
Abakan Inc. (OTCQB: ABKI) ("Abakan"
, an emerging leader in the advanced coatings and metal formulations markets, proudly announces that its subsidiary, MesoCoat, Inc., has incorporated a wholly owned subsidiary in Mexico, MesoCoat de Mexico S.A. de C.V., and has appointed Mr. Jose Maria Ribot Barroso as its President and CEO. In September 2013, Metallurgic Solutions, SA de CV (MetalSol), where Mr. Ribot serves as the CEO, signed an exclusive sales agreement with MesoCoat, Inc. for the sale and distribution of MesoCoat's products in Mexico and Central America. Coincident with Mr. Ribot's appointment as CEO of MesoCoat de Mexico, MesoCoat terminated its sales agency agreement with MetalSol. Abakan Settles Lawsuit With Sonoro
Marketwired - Fri May 22, 7:01AM CDT
Abakan Inc. (OTCQB: ABKI) ("Abakan"
, an emerging leader in the advanced coatings and metal formulations markets, today announced that it has entered into a Settlement Agreement with Sonoro Invest S.A. ("Sonoro", in connection with a dispute regarding promissory notes for an aggregate principal amount of $2,105,000, which caused Sonoro to file a lawsuit against Abakan on October 1, 2014, in the United States District Court for the Southern District of Florida. Abakan to Present at International Thermal Spray Conference and Exposition 2015
Marketwired - Fri May 08, 11:23AM CDT
Abakan, Inc. (OTCQB: ABKI) ("Abakan"
, an emerging leader in the advanced coatings and metal formulations markets, proudly announces that its subsidiary, MesoCoat, Inc. ("MesoCoat", has been invited to give two presentations on its PComP(TM) thermal spray coating materials at the International Thermal Spray Conference and Exhibition 2015. ITSC 2015, the world's largest thermal spray conference and exposition, is to be held May 11-14 at the Long Beach Convention & Entertainment Center in Long Beach, California. MesoCoat will also be exhibiting in booth #1624 at the conference. Please see MesoCoat's presentation and exhibition schedule below and make sure to visit MesoCoat representatives in booth #1624. Abakan - Planned PComP(TM) Thermal Spray Powder Production Ramp-Up Exceeds Target
Marketwired - Tue May 05, 8:55AM CDT
Abakan Inc. (OTCQB: ABKI) ("Abakan"
, an emerging leader in the advanced coatings and metal formulations markets, proudly announces that it has surpassed the initial goal for Phase I scale-up of its PComP(TM) thermal spray powder production, from 6,000 pounds/year to 36,000 pounds/year. Abakan has actually increased its PComP production capacity to 60,000 pounds/year. At the current sales price, Abakan's 60,000 pounds/year production could translate to approximately $5M in annual thermal spray powder sales and help facilitate Abakan's expansion of its PComP thermal spray coating services business, which could add an additional $1.5M in annual revenues by fully utilizing our existing thermal spray cell and adding another eight hour shift. UP Scientech Completes Initial Testing of Abakan's CermaClad Wear-Plates
Marketwired - Mon Apr 13, 12:38PM CDT
Abakan Inc. (OTCQB: ABKI) ("Abakan"
, an emerging leader in the advanced coatings and metal formulations markets, today announced that its partner in Asia, one of the largest international wear-plate manufacturers, UP Scientech Materials Corp. ("UP Scientech" (TWSE: 2068), has completed initial testing of CermaClad wear-resistant clad plates. The outstanding metallurgical and mechanical properties of CermaClad wear-resistant clad plates, coupled with UP Scientech's sales and marketing channels in 35 countries, is expected to accelerate market adoption and drive growth for Abakan's CermaClad wear-resistant clad plate products. Abakan's PComP Protective Coatings Gaining Traction in North America and Asia
Marketwired - Thu Feb 05, 9:08AM CST
Abakan Inc. (OTCQB: ABKI) ("Abakan"
, an emerging leader in the advanced coatings and metal formulations markets, announces several recent developments related to its PComP protective coatings. Abakan has completed field testing of a PComP coating at one of the largest steel companies in Mexico and as a result anticipates a commercial order of the product. Meanwhile, Abakan is now testing its PComP coatings in Taiwan in cooperation with its partner in Asia, UP Scientech Materials Corp. Furthermore, Abakan has received its first repeat orders from an international oil field services customer in Canada. Abakan Appoints Stephen Goss as Chief Operating Officer
Marketwired - Tue Jan 27, 10:28AM CST
Abakan Inc. (OTCQB: ABKI) ("Abakan"
, an emerging leader in the advanced coatings and metal formulations markets, today announced that, effective January 1, 2015, the Company has appointed Mr. Stephen Goss as its Chief Operating Officer. Mr. Goss will continue to serve as the Chief Executive Officer of Abakan's subsidiary MesoCoat, Inc. Abakan 2014 Year in Review
Marketwired - Mon Jan 05, 12:08PM CST
Abakan Inc. (OTCQB: ABKI) ("Abakan"
, an emerging leader in the advanced coatings and metal formulations markets, today distributed Abakan's 2014 Year in Review, as previously disclosed as an exhibit to its Form 8-K filed with the Commission on December 31, 2014. Abakan Secures Strategic Investment from Global Wear-Resistant Clad Plate Manufacturer
Business Wire - Fri Nov 14, 8:54AM CST
Abakan Inc. (OTCQB: ABKI) ("Abakan"
, an emerging leader in the advanced coatings and metal formulations markets, today announced that it has secured a $3M strategic investment from the world's largest wear-resistant clad plate manufacturer, UP Scientech Materials Corp. ("UP Scientech". In addition to the investment, UP Scientech have entered into an agreement to develop, manufacture, and sell Abakan's PComP thermal spray coating and CermaClad clad metal products in Taiwan, China, Japan, and Korea on a joint venture basis. MesoCoat Receives Two (New) Grants to Develop CermaClad(TM) Arc Lamp Applications
Business Wire - Mon Oct 06, 11:03AM CDT
Abakan Inc. (OTC:ABKI) ("Abakan"
, an emerging leader in the advanced coatings and metal formulations markets, today announced that its subsidiary, MesoCoat, Inc. ("MesoCoat", along with Oak Ridge National Laboratory (ORNL), have been awarded $1 Million by the Department of Energy ("DOE" to develop a process to join dissimilar metal alloys. The award will be shared equally. Additionally, MesoCoat has won a $150,000 SBIR (Small Business Innovation Research), award from the National Institute of Health (NIH) to develop antimicrobial coatings using its high-speed large-area metal cladding technology CermaClad(TM). 
