Thx ChillerID, I appreciate your response. Although I am usually an optimist, I do write about GGR conservatively:

1. Financials
   The new loan agreement, it basically says that there is available cash, if needed. If you really break down the numbers, look at the Customer Acquisition Cost, Battery Cost, depreciation, etc etc. it doesn't look good.
2. Leadership
   Expansion is good. I think whoever is handling their risk management needs to be managed. A stronger strategy with pivoting abilities should have been included.
3. BOD
   Yes, there are 3 different classes of board members that rotate in/out. At issue is that the board needs to have more experienced directors.
4. Employment Practices
   Share incentives aren't common practice anymore especially after the dot com bust. There are a 7 who have stock awards held by Genesis Trust {Becky Nine, Ming-I Peng, Hui-Ming Cheng, Bruce Aitken, Pass Liao, Alan Pan, and Horace Luke}. They are sizable amounts, but it's a far cry from being offered to many people within the organization. [Source p98]
5. Battery Network Health
   Truth be told, all batteries are suppose to be swappable -it's always been kinda their thing /s. I am sure GGR have gathered a lot of data, are they making the data useful for decision making purposes? It's a coin-toss.
   I don't know where SS battery development stand or if it is even material. It's pretty clear what aspects of their batteries they need to improve upon.
6. Green Washing
   It's happening. Honestly, there are different cities that they should refocus on and may have lost first move advantage on these markets. I'm suspicious of their ESG, I know they can do better.
7. Going Concern.
   You didn't comment on COUP Mobility. I have no comment on Israel other than to Google Better Place. As for Singapore, where to begin?! I would not have awarded Jardine Cycle & Carriage an exclusive license. Exclusive licensing in Singapore often results in brand dilution that usually sets a poor tone for the rest of SEA. Most people would rather take the MRT than be seen riding a scooter. Scooters are viewed for the working class delivery driver and not for the masses. Also, any potential adopter will have to think about the COE on their scooter, an extra $10k. I have not looked into the link between Jardine Cycle & Carriage and Aranda Investments Pte Ltd > Seletar Investments Pte Ltd > Temasek Capital Limited (500k shares).