Risk Factors Update Summary
- Inflation and higher prices impacting operations, with adverse effects expected to escalate in future periods.
- The Reverse Stock Split may not attract new investors, impacting market price sustainability.
- Issued 50,000,000 million shares of Common Stock in June 2023, compared to 50,000 in the previous year.
- Outstanding amounts under the Yorkville PPA make the company more vulnerable to financial downturns.
- The company's sales focus shifted from EVs to EV offerings, with sales concentrated in limited jurisdictions.
- The company incurred a net loss of $302.0 million for the year ended December 31, 2023.
- The company had negative cash flow of $251.1 million for the year ended December 31, 2023.
- The company's ability to meet production and manufacturing milestones for EVs is uncertain.
- The company's ability to access cash and investments may be threatened by market conditions.
- The company's stock price volatility may negatively impact investors and corporate decisions.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1750153&owner=exclude
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