WALL TOWNSHIP, NJ--(Marketwired - Jul 15, 2015) - Coates International, Ltd. (OTC PINK: COTE) (the "Company") cannot record these funds as sales income on the Company books until the products are shipped out to our customer.
The Company's President and CEO, Mr. George J. Coates, comments: "These first production industrial CSRV natural gas electric power generator sets are to be shipped out by the end of this month. However, we must run them for 300 to 500 hours continuously under full load. After that, they will be inspected and then shipped out to our customer. China is one of the biggest markets for the Coates CSRV products. Presently, we are short staffed and need to ramp up the production process in our New Jersey plant. Only highly skilled personnel will be considered.
"It is not an easy job to go from R&D into production. Management is considering acquiring a local building of 101,318 square feet for our production expansion in the USA. Management and staff are working extremely hard to get our products into the world marketplace."
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.