A recent meeting involving Chinese delegation went well according to Coates International Ltd (OTCMKTS:COTE). In a press release, the company says some of the companies in attendance made proposals during the meeting, which could lead to a framework of agreements in the near future.
During the meeting, demonstrations of a good number of Coates CSRV industrial electric power generators were made with the guests allowed to take photos and videos of their operation. Impressed by the performance of the electric power generators, some of the companies expressed interest and are expected to follow the same with a proposal in writing soon.
Government officials in attendance also expressed their satisfaction with the technology on display reiterating that they will help in ramping up production. The meeting came on the heels of the appointment of Mr. Nick Kontonicolas as the company’s chief operating officer.
Mr. Kontonicolas who will be in charge of Coates worldwide operations including operations in China and the US was also present during the meeting as well as her assistant Ms. Eva Ma. Given the outcome of the meeting, the new COO remains confident of the company inking deals that will help in the ramping up of production.
Buoyed by the appointment of Mr. Kontonicolas as the company’s new COO, CEO, George J. Coates expects his 30-year experience in the industry to be of great help in propelling the company to new heights.
Coates Long-term Prospects
The CEO has already echoed his confidence on the company’s long-term prospects with the purchase of $200M worth of the company’s shares. The executive says the purchase was fueled by the fact that the company has the potential to continue growing given its asset value as well the $40 million put aside for research and development.
Coates International Ltd (OTCMKTS:COTE) is planning to use any finances that comes from the outside to ramp up production operations, as focus shifts to pursuing opportunities in the US and China.
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