Waterproof Substance Allows Electronic Gadgets to be Submerged in Water!

http://www.switched.com/2008/07/27/gadget-waterproofing-process-defies-water-reality/

Hey all, check out this article my friend showed me (thanks David); it even has a video to show it off. Anyway, it's about this waterproof coating of some sort that you put on electronic gadgets such as cell phones... For example, you can stick a cell phone in the water and it will not be damaged at all! Quite amazing. I'm sure you may be skeptical, as I am a little bit. Technology is crazy isn't it?
Possible fake? I don't know. The video is pretty convincing.