Damon motorcycles

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Can anyone think of a SPAC stock-market manoeuver that resulted in a successful operating business? (Truth Social doesn't count. LOL)

I have moved my probability-or-success expectation from "low" to "very low". LOL

Agree that they tried to do too much too soon. They assumed that their first prototype was close to production-ready ... clearly, it wasn't. And they should have skipped all the machine vision and AI nonsense and just built a working production-ready bike with normal off the shelf ABS and traction control and rear-view mirrors.
 
GreyGhost said:
Reverse split to prop up price? The whole thing is a vaporware green-washing scam. I had hopes. They were dashed long ago.
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That won’t work either. They are Nasdaq Global Market, so I believe the stock price is $4.

That’s moot, a reverse split does that. The hard part is they don’t meet income, shareholder equity, assets or market cap.

In addition to stock price minimum of $4, they have to meet at least one of the 4 financial benchmarks: income $1m, shareholder equity $30m, market cap of $75m, or revenue & assets of $75m.

I doubt they meet any.
 
Mad Mike said:
shareholder equity $30m or revenue & assets of $75m.

I doubt they meet any.
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on paper they may squeak by on one of those. How much is that prototype being carried on the books? How much are IP and patents on the books? Do they own the land that the factories were going to be built on? In any case, I'm sure the liabilities dwarf the assets and that's why they keep chasing funding. Save the original idiots at the expense of the new idiots.
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