ElectricMotorcycleForum.com
Makes And Models => Damon => Topic started by: Electric_Adventures on November 26, 2024, 09:45:43 PM
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Anybody else receive the recent letter from Jay Giraud about Damon’s planned status and apologizing for the delays? I’m pretty confident the promised Damon motorcycles will never see the light of day but in the aftermath of Energica possibly going under, the company has piqued my interest again. Damon seems to have the money and runway to weather a few years of no sales yet…Any bets on customers getting bikes in 2026? I’ve had a reservation languishing with them since 2020 but I really doubt I’ll be high enough in line to get one of the dozen bikes they’d ship that year:
https://ir.damon.com/2024-11-25-Damon-Inc-Issues-CEO-Letter-Providing-Business-Update-and-Outlining-Production-Roadmap
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I don't think that letter implies they have any money at all. Pro forma for the various transactions, they show cash of $6.1 mm, which at their current run rate is a little more than 6 months of expenses. They need to raise money, and soon, and with the valuation so low (now around $15 mm) raising that money could be very highly dilutive to current shareholders. Damon did a speed run into penny stock territory.
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Penny. you mean wooden nickle ..... 8)
aaron
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Anybody else receive the recent letter from Jay Giraud about Damon’s planned status and apologizing for the delays? I’m pretty confident the promised Damon motorcycles will never see the light of day but in the aftermath of Energica possibly going under, the company has piqued my interest again. Damon seems to have the money and runway to weather a few years of no sales yet…Any bets on customers getting bikes in 2026? I’ve had a reservation languishing with them since 2020 but I really doubt I’ll be high enough in line to get one of the dozen bikes they’d ship that year:
https://ir.damon.com/2024-11-25-Damon-Inc-Issues-CEO-Letter-Providing-Business-Update-and-Outlining-Production-Roadmap
Get your refund while you still can. If this all goes the way I think it's going, you'll have to try to claim it in bankruptcy court if you wait, and there might not be enough carcass left to pay back everyone's reservation deposits. If you think they'll be shipping bikes in 2026 after having missed every previous deadline, and never having demo'd a road-worthy prototype despite almost unlimited financial resources, maybe I could interest you in fractional ownership shares of the Golden Gate Bridge? ;)
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Damon stock closed today at $0.93, down 26.2% from yesterday. The high for the stock was $4.95. Damon was hoping the stock would open at $12.00. If Damon wants to raise money they need to look at other options because their stock isn't doing very well.
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Get your refund while you still can. If this all goes the way I think it's going, you'll have to try to claim it in bankruptcy court if you wait, and there might not be enough carcass left to pay back everyone's reservation deposits. If you think they'll be shipping bikes in 2026 after having missed every previous deadline, and never having demo'd a road-worthy prototype despite almost unlimited financial resources, maybe I could interest you in fractional ownership shares of the Golden Gate Bridge? ;)
To be fair, it was $100 and I considered it a throwaway even then. Plenty of companies do poorly until they don’t, so I’d rather have my foot in the door. I’ll consider it a “meets expectations” if they fold.