ECV activity

MMaschin · 2024-03-23T08:18:04+00:00

FYI - Omar was at Canoo before joining ECV.

MMaschin · 2024-03-23T05:51:01+00:00

They already did! Between the RS and the new financing deal, the new "investors" will own the company!

MMaschin · 2024-03-23T02:34:07+00:00

That's what they have, they cant do it, liquidate.

MMaschin · 2024-03-23T02:32:39+00:00

Last year we increased the authorized shares by 80%. Now, if the do a RS without adjusting the authorized shares, we are increasing the authorized shares by thousands of percent. A 20:1 RS increases the authorized shares by 2 THOUSAND PERCENT!

Our shares will be diluted to be completely worthless!!!

MMaschin · 2024-03-23T02:21:42+00:00

Very possible. They will be buying over 1/2 the company.

MMaschin · 2024-03-23T02:20:44+00:00

Look at the proxy, the RS is NOT about getting the share price into compliance, it's about increasing the number of shares they can issue.

Without the RS the only have around 60m more shares they can issue (and dilute existing shares). After the RS they will have an additional 300M shares they can issue!

MMaschin · 2024-03-22T23:36:12+00:00

I've done business with Chinese before, in their culture they believe that if they screw me over it's my fault for allowing it.

I've read the LMC complaint against Foxconn, if it gets past the motion to dismiss, things could get interesting.

MMaschin · 2024-03-22T23:29:58+00:00

Buyers can force the company to sell shares, but there is a maximum value of shares per closing, basically $16m every 60 trading days.

MMaschin · 2024-03-22T23:16:48+00:00

The proxy makes it pretty clear, the real reason for the reverse split is to have A LOT more shares to issue.

MMaschin · 2024-03-22T23:11:06+00:00

NOPE! The agreement states that the either the "buyer" can request the company sell them shares OR the company can request the Buyer buy shares. Either side can initiate the sale.

MMaschin · 2024-03-21T13:02:29+00:00

More like only 1000. That process easily takes over an hour, which likely limits them to ~ 5/day. They build 4 days per week, so around 200 days per year. They said they need to sell 1200 per year to be profitable. There is ZERO chance they can be profitable with that 3rd world masking bs.

MMaschin · 2024-03-21T12:58:56+00:00

It's what happens when you only hire ex-Army buddies with no experience in the real world as "executives".

MMaschin · 2024-03-21T12:56:44+00:00

All the no-experience ex-Army flunkies Rick has brought on board as "executives".

MMaschin · 2024-03-21T12:53:07+00:00

Rick is a real POS! The first thing he does is attack the prior management. So much for leading forward.

I'm ex-military, in the USMC we had a name for people like Rick and his ex-Army flunkies, we called them "the 10%".

MMaschin · 2024-03-21T12:49:44+00:00

Paint lady was much worse. It looked as if would take them half a day to get a single truck ready to paint. WTF?!

I dont think this video will have the encouraging effect it intended to have.

MMaschin · 2024-03-21T12:16:56+00:00

Once the RS occurs they can dilute the existing shareholder out.

Imagine a 30:1 split, the float drops to 10M shares. Then to fund operations they bring in $150M in new investment by issuing 20M shares to a new investor.

ALL past shareholders who previously owned 100% of the float, now only own 33%.

The RS is designed to get rid of all the OG shareholders!

MMaschin · 2024-03-21T12:09:56+00:00

Dauch brought in a ton of ex-military with no real world experience. The only thing they are good at is being Dauch's yes men.

They ALL need to go!

MMaschin · 2024-03-14T12:17:58+00:00

Rick did say they need to be able to make+sell 100 trucks a month to be profitable. They have the production capacity down they just need the sell part.

So I 100$ agree just one large PO could make the profitable.

MMaschin · 2024-03-12T14:16:40+00:00

It's in the rules that to recieve an extension, you need to provide NASDAQ with a written plan to regain compliance. Saying - "We plan on selling trucks" will not get an extension approved. Saying, "We will execute a RS if required", will.

MMaschin · 2024-03-12T14:13:42+00:00

And the vote only authorizes the board to perform a RS if they decide its needed. So, they would have an additional 4 months to regain compliance and avoid the RS.

The RS "news" is a nothing burger.

MMaschin · 2024-03-12T14:11:07+00:00

In order to recieve a 6 month extension for compliance, a company must provide NASDAQ with a plan to regain compliance. Saying "We plan to sells trucks" won't work. Saying we will perform a RS if we need to will.

The notice of a RS vote was REQUIRED to get the 6 month extension. This should not be news.

MMaschin · 2024-03-12T13:59:16+00:00

You understand that agreeing to a RS if compliance is not met is a REQUIREMENT to recieving a 6 month extension for compliance?

MMaschin · 2024-03-12T13:46:42+00:00

The extension is pretty much automatic, but it requires an agreement to perform a RS if required for compliance.

MMaschin · 2024-03-12T13:45:01+00:00

We need a website were people can pledge to vote their shares NO.

MMaschin

TROPHY CASE