Nanotechnology Now

Our NanoNews Digest Sponsors



Heifer International

Wikipedia Affiliate Button


android tablet pc

Home > Press > Ecology Coatings Receives Term Sheets for $2.4 Million in Funding

Abstract:
Ecology Coatings, Inc. (OTCBB:ECOC), a leader in the discovery and development of nanotechnology-enabled, ultraviolet-curable advanced coatings, today announced that it has received conditional term sheets from a number of individual investors for an investment totaling $2.4 million.

Ecology Coatings Receives Term Sheets for $2.4 Million in Funding

Warren, MI | Posted on August 31st, 2010

The investment will be made through the issuance of convertible preferred shares which can be converted to common stock. The collective term sheets have not been approved by Ecology's Board of Directors, as the Board currently lacks a full complement of directors due to the resignation of Rocco DelMonaco. Ecology anticipates filling the vacancy by September 15, 2010.

The investment is subject to the following primary conditions:

* Ecology must reduce its outstanding debt to $750,000

* To minimize the dilution to shareholders and to 'clean up' the capital structure of the company, Ecology must convince large shareholders to return eight million shares of common stock to the company

* A due diligence period of 30 days

Ecology Coatings CEO Bob Crockett commented, "This additional funding is necessary to accelerate our marketing efforts to reach more customers and invest in technical resources to support growth of our exciting technology."

Forward-looking Statements
Except for the historical e historical information contained herein, the matters discussed are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements involve risks and uncertainties, which are specified in Ecology's filings with the Securities and Exchange Commission. These risks and uncertainties could cause actual results to differ materially from any forward-looking statements made herein.

####

About Ecology Coatings
Ecology Coatings, Inc. (OTCBB:ECOC) is a leader in the development and licensing of cleantech ultraviolet (UV) curable coatings coatings that improve the products we use daily. Ecology's technology platform allows manufacturers to enhance the durability and performance of their products, while significantly reducing energy costs and increasing manufacturing throughput. The company produces solvent-free coatings, which eliminate the escape of harmful solvents into the atmosphere during application. Headquartered in Warren, Michigan, Ecology Coatings has a development and prototype lab in Akron, Ohio.

For more information, please click here

Contacts:
Investor and Media Relations:
McCloud Communications, LLC
Marty Tullio, Managing Member
949.553.9748

Copyright © Ecology Coatings

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

NMTI announces breakthrough solutions for HAMR nanoantenna for next-generation ultra-high density magnetic storage November 21st, 2014

Leica Microsystems Presents Universal Hybrid Detector for Single Molecule Detection and Imaging at SfN and ASCB: Leica HyD SMD - the Optimal Detector for Precise and Reliable SMD data November 20th, 2014

Silver Nanoparticles Produced in Iran from Forest Plants Extract November 20th, 2014

Nano Sorbents Able to Remove Pollutions Caused by Oil Derivatives November 20th, 2014

Investments/IPO's/Splits

Nanometrics Announces Upcoming Investor Events November 19th, 2014

Eight19 secures 1m funding: Investment to develop production technology, and expand commercial activities for organic photovoltaics November 19th, 2014

Arrowhead to Present at Upcoming Conferences November 15th, 2014

Harris & Harris Group Reports Financial Statements as of September 30, 2014 November 11th, 2014

Announcements

NMTI announces breakthrough solutions for HAMR nanoantenna for next-generation ultra-high density magnetic storage November 21st, 2014

Leica Microsystems Presents Universal Hybrid Detector for Single Molecule Detection and Imaging at SfN and ASCB: Leica HyD SMD - the Optimal Detector for Precise and Reliable SMD data November 20th, 2014

Silver Nanoparticles Produced in Iran from Forest Plants Extract November 20th, 2014

Nano Sorbents Able to Remove Pollutions Caused by Oil Derivatives November 20th, 2014

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More












ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE