ElectricMotorcycleForum.com

The entire motorcycle industry faces significant headwinds as being discussed across this forum. But LVWR's deliveries for the first quarter were brutal at only 33 bikes with an average ticket of around $12K. That's not a sustainable business. HD said they're cutting LVWR off from financing other than what they've already promised and that LVWR may seek outside capital.

I can't imagine why that might be.  Has paper dropped in value recently. 

They issued something like 156 million shares, quintupling the share count, and there are 2.8 BILLION cashless-exercise warrants behind those shares. Biggest single-day dilution I've ever seen. And they only raised $16 mm doing it. Penny stock scam.

Damon appears not to have filed an 8-K with the SEC regarding these changes. Legally, they have up to four days but it's pretty standard to put out the 8-K at the same time as the press release.

Still no 8-K, but Giraud filed an ownership declaration reflecting his multi-voting shares becoming regular common shares as a result of what the form called his "resignation from all officer and director positions".  It's unclear to me whether those shares are covered by the omnibus lock-up agreement that applies to other shareholders.

The press release: https://ir.damon.com/2024-12-05-Damon-Strengthens-Operational-Focus-with-Leadership-Appointments-Dominique-Kwong-Named-Interim-CEO,-Shashi-Tripathi-as-Chairman

Giraud also doesn't appear on the company's Board of Directors page: https://ir.damon.com/board-of-directors One wonders what role he still has and what's going on.

Damon appears not to have filed an 8-K with the SEC regarding these changes. Legally, they have up to four days but it's pretty standard to put out the 8-K at the same time as the press release.

Damon published a letter to shareholders about their past and future. There's not a ton new in there except they need more money and won't say how much.

https://www.sec.gov/ix?doc=/Archives/edgar/data/0002000640/000121390024101979/ea0222464-8k_damon.htm

Damon stock (DMN) opened at $4.00. It's been trading around that, as high as $4.27 and as low as $3.61 as I type this. With 20,767,610 pro forma shares outstanding (including the multi-voting shares but not warrants and options priced above the trading price, that adds up to an equity value of around $83 million.

The company has only $3.5 mm or so of cash, so if they want to make motorcycles they're gonna want some more money.

You can see the company's current investor deck here: https://filecache.investorroom.com/mr5ircnw_damon/173/2024_1115_Damon_Pubco_Deck_Final.pdf

Edited to add: Page 8 of that deck shows that 24% of their preorders are from people who do not own a motorcycle currently, and that 55% of those who do own one are on a commuter bike. Basically, most of their preorders are from people with no business on a 600-lb, 200 hp motorcycle.

In the wake of the Energica collapse, a company called Soriano Motori put out a press release claiming they're now the big dog of Italian electric motorcycles. As best I can tell, it's a Damon for Italy, never having shipped a bike but having produced lots of press releases claiming a $400 mm valuation and whatnot.

Has anyone heard of these guys?

The company: https://www.sorianomotori.com/

The press release: https://www.einnews.com/pr_news/755512676/soriano-motori-rises-to-new-heights-in-italy-following-energica-s-fall

We were one of the very early dealers, and one of the largest ones.  2020-2022 were the hottest selling years.

Did they get in touch with you or EoNY or Tytler's? They needed a lot of money and I'd be disappointed to learn they didn't beat even the unlikliest bushes.