Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

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

Cryo-electron microscopy achieves unprecedented resolution using new computational methods March 25th, 2017

Argon is not the 'dope' for metallic hydrogen March 24th, 2017

Promising results obtained with a new electrocatalyst that reduces the need for platinum: Researchers from Aalto University have succeeded in manufacturing electrocatalysts used for storing electric energy with one-hundredth of the amount of platinum that is usually needed March 24th, 2017

Artificial photosynthesis steps into the light: Rice University lab turns transition metals into practical catalyst for solar, other applications March 23rd, 2017

Investments/IPO's/Splits

Harris & Harris Group Issues Its Financial Statements as of December 31, 2016, Posts Its Annual Shareholder Letter, And Will Host a Conference Call for Shareholders on Friday, March 17, 2017 March 15th, 2017

Harris & Harris Group Announces the Filing of Preliminary Proxy Materials Detailing Its Proposed Conversion From a BDC to a Registered Closed-End Fund January 24th, 2017

Harris & Harris Group Issues Reminder for Shareholder Update Call on January 10, 2017 January 10th, 2017

Arrowhead Provides Response to New Minority Shareholder Announcement January 7th, 2017

Announcements

Cryo-electron microscopy achieves unprecedented resolution using new computational methods March 25th, 2017

Argon is not the 'dope' for metallic hydrogen March 24th, 2017

Promising results obtained with a new electrocatalyst that reduces the need for platinum: Researchers from Aalto University have succeeded in manufacturing electrocatalysts used for storing electric energy with one-hundredth of the amount of platinum that is usually needed March 24th, 2017

Artificial photosynthesis steps into the light: Rice University lab turns transition metals into practical catalyst for solar, other applications March 23rd, 2017

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