Coates International, Ltd. Stockholders Update -- After Some Investigating We Discovered That Deferred Stock Transactions in 2014 With Asher or Their New Name, KBM Worldwide, Inc., Every Time They Converted to Stock, Our Company Stock Price Dropped Immediately; Coates Will Never Do Another Transaction With Asher or KBM Worldwide, Inc.
WALL TOWNSHIP, NJ--(Marketwired - Apr 10, 2015) - Coates International, Ltd. (OTC PINK: COTE) (the "Company") will never do another transaction with Asher or their new name (KBM Worldwide Inc.). From time to time companies like ours need cash and there are a number of companies that advance cash on deferred stock transactions. Asher or KBM Worldwide, Inc. is just one company that does these types of transactions. Six months later they receive the stock then they dump it; this drives the price of the stock down.
Coates International Ltd. President and CEO, Mr. George J. Coates, comments: "Many of our stockholders contacted me about our stock price dropping. I investigated a little and found that our stock was being dumped. Every time Asher or KBM Worldwide, Inc. convert to stock, our company stock price dropped immediately. The Company had done a deferred stock transaction with them last year.
"Now we must wait until they have sold all of their stock, after which our company stock should get back to normal. The Company will never do another transaction with KBM Worldwide, Inc. or Asher. We will keep an eye on KBM Worldwide, Inc. and report these activities.
"We have no control over our company stock price on the market."
There can be no assurance that the Company will be successful in any of its endeavors.
Safe Harbor Statement:
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Please see our filings with the Securities and Exchange Commission. Our public filings with the SEC may be viewed and printed on the website maintained by the SEC at http://www.sec.gov.
