SOURCE: IO Circuit

June 21, 2007 06:35 ET Announces nCoat's (OTC: NCOA) Recent Acquisition of Metallic Ceramic Coatings

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO Circuit

LAKE HARMONY, PA--(Marketwire - June 21, 2007) - nCoat, Inc. (OTCBB: NCOA) announced this week that it has successfully completed the acquisition of Metallic Ceramic Coatings, also known under the brand of JET-HOT® Coatings. nCoat, is an emerging nanotechnology company focused on development and marketing of coatings applied to metal, ceramics, fabric, and other materials. nCoat signed a stock purchase agreement to buy all capital stock in MCCI for $5 million cash and $1 million in nCoat common stock, or approximately one times projected 2007 revenue. "MCCI has done a superior job in branding their motorsports coatings under the JET-HOT® label. The founder of MCCI/ JET-HOT®, Mike Novakovic, has had a vision to drive aftermarket sales that have given JET-HOT® a strong market presence. We will learn from that leadership," said Paul Clayson, CEO of nCoat.

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