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Prospector
Profile
07.1399
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| nCoat, Inc. |
NAICS |
322226 |
| 7237 Pace Drive
Whitsett, NC 27377 |
Description |
Surface Coating Mfg. |
| (336) 447-2000 |
Employees |
200 |
| http://www.ncoat.com/ |
Revenue |
(mil) |
1.2500 |
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Income |
(mil) |
-2.8900 |
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Assets |
(mil) |
6.1650 |
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Liability |
(mil) |
10.1220 |
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(for the year ended 2006-12-31) |
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Category:
Audit Concerns
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Event:
Hansen Barnett & Maxwell PC raised doubts on the ability of nCoat, Inc. to continue as a going concern due to its recurring losses and negative cash flows from operations. The Company's working capital deficiency as of March 31, 2007 was $9,623,195 with accumulated losses from the date of inception of $11,276,381.
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Intellectual Property:
The Company has determined that many of its coatings produced and used in operations could be reformulated and patented into nano-formulated coatings, creating more efficient and effective coatings than currently produced by the industry. nTech has developed trade secret formulations using nano-scale particles to enhance the performance of its coatings. Currently, nCoat has applied for five patents on its newly nano-formulated coatings and processes which are unique and novel to the industry. [SEC Filing SB-2 07-12-07]
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Description:
The Company engages in the research, licensing, distribution, and application of nano and multiple non-nano surface coatings.
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Officers:
Paul S. Clayson (Chair & CEO); Terry R. Holmes (Pres., COO & Dir.); Bert Wonnacott (VP & Chief Development Officer); James C. Dodd (VP & CFO); Dr. Thomas Buckley (Dir.); Geoffrey D. Lewis (Dir.)
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Auditor:
Hansen Barnett & Maxwell PC
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Securities:
Common Stock-Symbol NCOA.OB; OTC BB;
94,864,236 common shares outstanding as of August 20, 2007.
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