Coates International Ltd (OTCMKTS:COTE) has announced the addition of Nick Kontonicolas to its family, after he accepted the role of COO of Coates worldwide operations. Mr. Kontonicolas is a dear old friend of the current CEO, George J. Coates and has had over 30 years of management experience. Upon his appointment, Mr. Coates stated that currently the new COO is organizing the finances needed to ramp up production. He also reported that once this is complete, Mr. Kontonicolas would start working directly with him and other official’s.
Mr. Coates has also increased his position in the company, by purchasing an additional 200 million shares, from the company. Regarding his purchase, the CEO claimed that he could not resist letting the opportunity pass. The stock of COTE has been trading at depressed prices. He believes that the company’s investment would result in huge returns very soon. COTE currently holds the patent for CSRV green engine technology. This provides the company with market exclusivity. Mr. Coates believes that the true potential of the stock would be realized very soon.
Earlier this month, the company met a delegation from China, at its HQ in New Jersey. The company used this opportunity to demonstrate, to the delegation, the performance of its CSRV industrial power generators. The delegation also had a look at other products from Coates International as well. As per reports from COTE, the delegates made several proposals to the management. However, the company is awaiting a preliminary framework of agreements, after which it would start accepting proposals. Coates International stated that it plans to update the public on them, as soon as they are received.
Mr. Coates himself revealed that the demonstrations went ahead as planned and the delegation had been greatly satisfied. He also revealed that all of the components used were put on display as well, so as to show the delegates that not many parts had been used in the manufacturing process. The CEO also revealed that one of the proposals was made by the sixth largest automaker in China.
Coates International Ltd (OTCMKTS:COTE) moved up on a trade volume of 26.59 million, by 31.56%. The stock closed the July 27 trading session, at $0.00079 per share.
OXIS International, Inc. (OTCMKTS:OXIS) Comeback In Play After New Cancer Treatment Development
OXIS International, Inc. (OTCMKTS:OXIS) sentiments on the Street have improved a great deal in the recent past, on the signing of an agreement that investors believes offers great opportunity going forward. A deal with the University of Minnesota offers the company a unique opportunity to develop and commercialize cancer therapies using the Trispecific Killer engager technology.
The technology is normally used to target NK cells for treatment of cancer. Oxis has already tested it in preclinical models all of which were successful without any adverse effects. The unique thing about the Trispecific technology is that it offers a new treatment alternative for cancer, away from CAR-T therapies that carry a number of side effects.
Given that CAR-T therapies tend to increase toxicity levels, OXIS International, Inc. (OTCMKTS:OXIS) says it has started talks with the FDA in a bid to gain clinical trials approval for the new technology. The company is hoping to use the trials to determine the safety and efficacy of the treatment. The development adds to a series of positive news on the company‘s ongoing cancer therapies trials.