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« on: May 31, 2024, 01:21:32 AM »
The overall condition of electric motorcycle manufacturers in general is challenging.
Are there any concerns on the financial condition of Ideanomics parent of Energica? In the SEC 2023 Q3 filling (the last filing made) Ideanomics states that for the first 3 quarters of 2023 Energica had revenue of $6m with a net loss of $11m. Ideanomics took down their investment page on their website recently. They have not filed their 2023 year end results yet even though they were due to the SEC by March 31. Cash position is weak and Ideanomics stated in the Q3 2023 SEC filing Energica is listed as an asset for sale. As for Energica unit sales if you take the $6m in revenue and divide by $25,000 per bike that is 240 units worldwide – and that is if all the revenue is from bike sales not parts etc. Ideanomics is trading at under $1 – can they be delisted? Ideanomics market cap is $12m and that is for all their holdings, VIA Motors, Solectric Tractors, Wave, US Hybrids and Energica. This is all public information.
Any thoughts on this?