Sublicensing: "We received an initial non-refunda
Post# of 3605
Posted On: 04/17/2016 1:44:20 AM
Sublicensing:
"We received an initial non-refundable deposit of $500,000 to date."
This money may be in escrow but the 10K does not state what happened to the money. Big question!
There were, however, some other things worthy of mention:
Hydrogen Reactor Technology:
"On the basis of a verbal agreement, WTF Asia International Ltd. (“WTF”) is currently building additional components based on technology already developed that will enable the hydrogen reactor to adequately power larger commercial and industrial engines. Upon completion of the WTF deliverable, the parties intend to enter into a formal agreement and the WTF technology will be integrated with the Coates Assembled Components resulting in a CSRV® hydrogen powered gen set."
"Since our inception, the bulk of our development costs and related operational costs have been funded primarily through cash generated
from the sales of our common stock, issuances of promissory notes and convertible promissory notes, capital contributions, sales of a small number of natural gas powered CSRV® industrial electric power generator sets (“Gen Sets”), a gain on the sale of the land and building that serves as our principal facility"...
I do not know what facility this is. It states later on in the 10K that the D&R facility is owned by the company.
Parts suppliers...
"We have signed a letter of intent with Marathon Electric Manufacturing Corp. for the supply of generators and components. We also entered into an agreement with Cummins Power Systems (a business owned by Cummins Inc.) to supply industrial engine blocks and components to us for our manufacturing activities. We intend to initially commence the assembly of the Coates Engines® at our existing New Jersey facility and to subsequently acquire additional facilities to increase our manufacturing capacity, as needed."
"We received an initial non-refundable deposit of $500,000 to date."
This money may be in escrow but the 10K does not state what happened to the money. Big question!
There were, however, some other things worthy of mention:
Hydrogen Reactor Technology:
"On the basis of a verbal agreement, WTF Asia International Ltd. (“WTF”) is currently building additional components based on technology already developed that will enable the hydrogen reactor to adequately power larger commercial and industrial engines. Upon completion of the WTF deliverable, the parties intend to enter into a formal agreement and the WTF technology will be integrated with the Coates Assembled Components resulting in a CSRV® hydrogen powered gen set."
"Since our inception, the bulk of our development costs and related operational costs have been funded primarily through cash generated
from the sales of our common stock, issuances of promissory notes and convertible promissory notes, capital contributions, sales of a small number of natural gas powered CSRV® industrial electric power generator sets (“Gen Sets”), a gain on the sale of the land and building that serves as our principal facility"...
I do not know what facility this is. It states later on in the 10K that the D&R facility is owned by the company.
Parts suppliers...
"We have signed a letter of intent with Marathon Electric Manufacturing Corp. for the supply of generators and components. We also entered into an agreement with Cummins Power Systems (a business owned by Cummins Inc.) to supply industrial engine blocks and components to us for our manufacturing activities. We intend to initially commence the assembly of the Coates Engines® at our existing New Jersey facility and to subsequently acquire additional facilities to increase our manufacturing capacity, as needed."
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