OTC Bulletin Board

S & P Company Insight for COATES INTERNATIONAL
 
 Profile

 
Business Summary: Coates International, Ltd. engages in the development of Coates spherical rotary valve (CSRV) system technology for use in piston-driven internal combustion engines.
 
Address
  Highway 34 & Ridgewood Road
  Wall Township , NJ 07719
  Phone: 732-449-7717
  Fax: 732-449-0764
  Website: http://www.coatesengine.com
Auditor
  Weiser
  New York
Transfer Agent
  American Stock Transfer & Trust Co.
Employees:  8
ShareHolders:  783
Founded:  1988
Domicile:  Delaware
 
  
 
 Background

 
Coates International, Ltd. engages in the development of Coates spherical rotary valve (CSRV) system technology for use in piston-driven internal combustion engines. The CSRV system is designed to replace the intake and exhaust conventional poppet valves that are used in various piston-driven, automotive, truck, motorcycle, marine, and electric power generator engines. Its CSRV system technology is used in various applications, including engines for electric generators for home use, industrial complexes, and grid installations; and engines to power motorcycles, automobiles, light trucks, heavy trucks, machinery, railroads, marine engines, military equipment, light aircraft, helicopters, lawn mowers, snowmobiles, and jet skis. The company holds licensing rights for the CSRV system technology in North America, Central America, and South America. Coates International, Ltd. was founded in 1988 and is based in Wall Township, New Jersey.
History:  INCORPORATED in Delaware Oct. 28, 1991, to succeed a Delaware corporation of the same name incorporated Aug. 31, 1988.
 
 
Capital Expenditures, thousand. US Dollars
  Year  Amount
  2006  47
  2005  3
 
Research and Development Expenditures, thousand. US Dollars
  Year  Amount
  2006  437
  2005  18
  2004  159
 
  
 
 Management

 

Management
OfficersPosition
 George J. CoatesChairman, President & Chief Executive Officer
 Barry C. KayeTreasurer, Chief Financial Officer & Chief Accounting Officer
 William  WolfGeneral Counsel
 Gregory  CoatesChief Technology Officer
 Richard W. EvansSecretary

Directors
 Frank J. Adipietro, Jr.
 George J. Coates
 Gregory  Coates
 Richard W. Evans
 Barry C. Kaye
 Michael J. Suchar
 Hubert Richard Whitworth
 Richard  Whitworth
 
  
 
 Annual Report

 
Annual Report
 
Income Statement
  20092008
REVENUES
Research & Development Revenues840,0001,813,183
EXPENSES
Research & Development Costs(303,552)(676,306)
General and Administrative Expenses(2,186,014)(1,273,760)
Depreciation and Amortization(31,900)(36,027)
Interest Expense, Net(103,769)(355,771)
Gain on Sale of Real Estate978,4791,495,224
Loss on Settlement of Litigation-(92,500)
Earnings before Taxes(806,756)874,043
TAXES AND OTHER EXPENSES
Net Income (Loss)(806,756)874,043
SUPPLEMENTARY INFO
Operating Income (Loss)(702,987.00)1,229,814.00
 
Balance Sheet
  20092008
CURRENT ASSETS
Cash and Cash Equivalents252,902721,952
Inventories511,189487,549
Interest Reserve Account - Restricted100,813-
Deferred Financing Costs16,042-
Other Assets-4,679
Total Current Assets880,9461,214,180
NON CURRENT ASSETS
Property, Plant and Equipment, Net2,282,10539,376
Deferred Licensing Costs68,14972,433
Security Deposit-197,500
Total Assets3,231,2001,523,489
CURRENT LIABILITIES
Accounts Payable and Accrued Expenses1,169,5181,248,173
Mortgages and Loans Payable1,750,000-
Due to Related Party12,500-
Promissory Notes to Related Parties300,000-
Convertible Notes20,000-
Total Current Liabilities3,252,0181,248,173
NON CURRENT LIABILITIES
Convertible Notes-20,000
Deferred Gain on Sale of Land Building-978,479
Preferred Stock Non Redeemable10-
License Deposit375,000375,000
SHAREHOLDERS' EQUITY
Common Stock - Par Value27,55027,313
Additional Paid in Capital22,231,75020,722,900
Retained Earnings (Deficit)(22,655,130)(21,848,380)
Total Shareholders Equity(395,818)(1,098,163)
Total Liabilities & Shareholders Equity3,231,2001,523,489
 
  
 
 Interim Report

 
Interim Report   
 
Data Not Available
 
 
 
 
  
 
 Pro Forma Report

 
Pro Forma Report   
 
Data Not Available
 
 
 
 
  
 
 Quarterly Report

 
Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2010   1850,000
  2009   1300,000
  2009   2470,000
  2009   4150,000
  2009   Full Year 840,000
  2008   1Nil
  2008   2700,000
  2008   3490,000
  2008   4620,000
  2008   Full Year 1,810,000
  2007   1Nil
  2007   2Nil
  2007   Full Year Nil
  2006   4560,000
  2006   Full Year 570,000
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2010   1Nil
  2009   1Nil
  2009   2Nil
  2009   3Nil
  2009   4Nil
  2009   Full Year (810,000)
  2008   1(580,000)
  2008   280,000
  2008   3(100,000)
  2008   41,480,000
  2008   Full Year 870,000
  2007   1(620,000)
  2007   2(770,000)
  2007   3(530,000)
  2007   4(630,000)
  2007   Full Year (2,540,000)
  2006   Full Year (1,662,700)
  2005   Full Year (1,270,000)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2010   1Nil
  2009   1Nil
  2009   2Nil
  2009   3Nil
  2009   4Nil
  2009   Full Year Nil
  2008   1Nil
  2008   2Nil
  2008   3Nil
  2008   4.01
  2008   Full Year Nil
  2007   1Nil
  2007   2Nil
  2007   3Nil
  2007   4Nil
  2007   Full Year (.01)
  2006   1Nil
  2006   2Nil
  2006   3Nil
  2006   4Nil
  2006   Full Year (.01)
  2005   1Nil
  2005   2Nil
  2005   3Nil
  2005   4Nil
  2005   Full Year Nil
 
  
 
 Stock Data

 
 
Capitalization as of 12/31/2009:
 
 Authorized SharesOutstanding Shares
Common $0.0001 par1,000,000,000275,496,253
Preferred $0.001 par100,000,00010,000so2
 
LONG TERM DEBT: None.
 
Common $0.0001 par
 
Stockholders:  03/25/2010, 783.
Transfer Agent:  American Stock Transfer & Trust Co.   New York , NY
 
OTC Bulletin Board( Primary): COTE
 
ExchangeYearHighLow
OTC Bulletin Board20091.18000.2400
OTC Bulletin Board20080.58000.1100
OTC Bulletin Board20074.25000.1000
 
DIVIDENDS: Common $0.0001 par: No cash.
 
 
  so2Closely held. Consists of Ser. A shares.