A bit of a read, but here it is:
sec.gov/Archives/edgar/data/1786471/000149315225009865/partii.htm
Notes:
"Previously, we anticipated completing our vehicle validation and testing by the end of 2024, with low-volume production commencing in 2025. However, we did not achieve this timeline due to delays in securing necessary funding.
We remain committed to completing the validation and testing process and commencing low-volume production as soon as possible. Our current focus is on securing the necessary financing and addressing any technical challenges encountered during the validation and testing process. This process is funding dependent, and we will therefore provide further updates on our progress as we achieve significant validation milestones.
Aptera was formed as a Delaware corporation on March 4, 2019, for the purpose of engaging in the production of energy-efficient, solar powered vehicles. We first began accepting $100 reservations for our vehicle in December 2020 and as of December 31, 2024, we had more than 48,000 reservation holders. We have not delivered any products to customers and have not recognized any revenue from the sale of vehicles.
We have experienced price fluctuations for vehicle components and labor in the past, which have led to increased costs and negatively affected our results of operations.
As a result of the foregoing, the Company’s net loss for the year ended December 31, 2024 was $34.9 million compared to $59.3 million for the year ended December 31, 2023.
If we are unable to obtain adequate financing, we may be required to implement the aforementioned cost-cutting measures, reduce investments in product development, or significantly curtail our operations. These actions could have a material adverse effect on our business, financial condition, and results of operations.
As of December 31, 2024, the Company had $35 million in total assets. Our primary sources of liquidity include $13.1 million in cash and cash equivalents and $0.9 million in grant funds receivable. Additionally, we have $16.9 million in property and equipment (net of depreciation) as of December 31, 2024.
As of December 31, 2024, the Company’s total liabilities were $8.0 million. Major liabilities include $1.2 million in accrued liabilities, $4.1 million in unearned reservation fees, and $2.5 million in lease liabilities and purchase commitments of $9.0 million."
Not the best financial picture in my view, I hope for their sake, suppliers and investors there is some time to turn things toward profit and production.
sec.gov/Archives/edgar/data/1786471/000149315225009865/partii.htm
Notes:
"Previously, we anticipated completing our vehicle validation and testing by the end of 2024, with low-volume production commencing in 2025. However, we did not achieve this timeline due to delays in securing necessary funding.
We remain committed to completing the validation and testing process and commencing low-volume production as soon as possible. Our current focus is on securing the necessary financing and addressing any technical challenges encountered during the validation and testing process. This process is funding dependent, and we will therefore provide further updates on our progress as we achieve significant validation milestones.
Aptera was formed as a Delaware corporation on March 4, 2019, for the purpose of engaging in the production of energy-efficient, solar powered vehicles. We first began accepting $100 reservations for our vehicle in December 2020 and as of December 31, 2024, we had more than 48,000 reservation holders. We have not delivered any products to customers and have not recognized any revenue from the sale of vehicles.
We have experienced price fluctuations for vehicle components and labor in the past, which have led to increased costs and negatively affected our results of operations.
As a result of the foregoing, the Company’s net loss for the year ended December 31, 2024 was $34.9 million compared to $59.3 million for the year ended December 31, 2023.
If we are unable to obtain adequate financing, we may be required to implement the aforementioned cost-cutting measures, reduce investments in product development, or significantly curtail our operations. These actions could have a material adverse effect on our business, financial condition, and results of operations.
As of December 31, 2024, the Company had $35 million in total assets. Our primary sources of liquidity include $13.1 million in cash and cash equivalents and $0.9 million in grant funds receivable. Additionally, we have $16.9 million in property and equipment (net of depreciation) as of December 31, 2024.
As of December 31, 2024, the Company’s total liabilities were $8.0 million. Major liabilities include $1.2 million in accrued liabilities, $4.1 million in unearned reservation fees, and $2.5 million in lease liabilities and purchase commitments of $9.0 million."
Not the best financial picture in my view, I hope for their sake, suppliers and investors there is some time to turn things toward profit and production.
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