Sounds similar to a product I once knew of called Mastershield? it was an elastomeric coating used in a similar way.

Why? Cost saving? Be verwy verwy careful....

Yes, Primary advantages, according to the company's literature are: low-skill level needed, no specialized equipment, relatively easy to do, and lower cost than EPDM or other membranes. That's why I am sceptacle. This would be good for a DYIer if the claims are acuate.

I found another company that sells it and will try calling them http://www.conservationtechnology.com/waterproofing_acrylic.html