Filing Details

Accession Number:
0001547522-14-000025
Form Type:
4
Zero Holdings:
No
Publication Time:
2014-06-03 11:26:36
Reporting Period:
2014-05-30
Filing Date:
2014-06-03
Accepted Time:
2014-06-03 11:26:36
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
948426 Coates International Ltd COTE Engines & Turbines (3510) 222925432
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1160170 J. George Coates 1811 Murray Drive
Wall Township NJ 07719
President And C Eo No No No No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Common Stock Acquisiton 2014-05-30 12,749,162 $0.03 274,510,787 No 4 P Direct
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 P Direct
Reported Non-Derivative Holdings
Sec. Name Remaning Holdings Nature of Ownership Explanation
Common Stock 1,165,507 Indirect By Self, as Trustee for The Coates Trus
Common Stock 1,956,960 Indirect By Spouse
Footnotes
  1. On May 30, 2014, pursuant to a board resolution, George J. Coates and the Company mutually agreed to convert $369,726 principal amount of 17% promissory notes due to Mr. Coates into shares of common stock of the Company at the closing price per share of $0.029 per share on May 30, 2014. Accrued interest on these notes was not converted and interest on this accrued interest will continue to accrue. These promissory notes arose from cash lent to the Corporation from Mr. Coates? personal funds. Accordingly, the Company issued 12,749,162 unregistered, restricted shares of its common stock to Mr. Coates. As a result, current liabilities were reduced by $369,726 and the stockholders? deficiency was reduced by the same amount.