Core Insights - Volcon ePowersports has launched a new floor plan financing and retail financing program through Dealer Direct Financial to enhance dealer inventory financing and access to electric off-road vehicles [1][2][3] Company Overview - Volcon is the first all-electric powersports company, focusing on sustainable electric vehicles for the outdoor community, emphasizing environmental benefits and near-silent operation [4][5] - The company’s product lineup includes motorcycles and UTVs, with notable products like the Grunt, Grunt EVO, and the Brat, which cater to both on-road and off-road markets [5] Financing Program Details - The new floor plan program aims to provide flexible financial solutions to support inventory acquisition and drive sales of Volcon's products, thereby expanding market presence [2][3] - The program is designed to empower dealers to grow their businesses and meet increasing customer demand for electric off-road vehicles [3][4] Strategic Goals - The initiative reflects Volcon's commitment to strengthening dealer relationships and accelerating the adoption of all-electric off-road vehicles [3] - The program is a significant step in Volcon's strategy to scale operations and support its growing dealer network [3]

Core Insights - Volcon ePowersports has received its first purchase order from Advanced EV for 1,000 golf carts, marking a significant step in their collaboration [1][2] - The order will be used for market testing of a new golf cart model developed with Super Sonic, indicating a strategic partnership aimed at expanding product offerings [2][3] - This order is part of a broader growth strategy, as Volcon has recently completed another multi-million dollar deal, suggesting a positive growth trajectory for the company [3] Company Overview - Volcon is based in Austin, Texas, and is recognized as the first all-electric powersports company, focusing on sustainable electric vehicles for outdoor activities [4] - The company’s product lineup includes motorcycles, UTVs, and eBikes, with notable products like the Grunt and the recently launched Grunt EVO and Brat [5] - Volcon aims to provide high-quality, innovative products that enhance outdoor experiences while minimizing environmental impact [4][5] Recent Developments - The company has resumed its share repurchase program, indicating confidence in its financial position and future prospects [3] - Volcon's vehicle roadmap includes the introduction of new models that offer thrilling performance without the noise and pollution associated with gas-powered units [5]

PRESS RELEASE Luxembourg, May 23, 2025 VELCAN HOLDINGS: CONVENING NOTICE OF THE ORDINARY ANNUAL GENERAL MEETING TO BE HELD ON JUNE 25, 2025 VELCAN HOLDINGS announces to the shareholders of the Company that the Ordinary Annual General Meeting will be held on Wednesday, June 25, 2025, at 11 a.m, in the offices of the law firm Tabery & Wauthier, 10 rue Pierre d’Aspelt, L‐1142 Luxembourg, in order to vote mainly on the approval of the 2024 condensed non-audited consolidated financial statements and of the 2024 ...

Financial Performance - Revenue for Q1 2025 was $736,049, a decrease of 29% from $1,033,548 in Q1 2024[133] - Cost of goods sold for Q1 2025 was $781,383, down from $1,621,580 in Q1 2024, resulting in a gross margin loss of $45,334[132][134] - Operating expenses totaled $2,461,137 in Q1 2025, a reduction from $3,656,303 in Q1 2024, primarily due to lower sales and marketing and product development costs[132] - Net loss for Q1 2025 was $2,460,430, significantly improved from a net loss of $26,048,044 in Q1 2024[132] - Cash provided by financing activities in Q1 2025 was $19.1 million, mainly from the sale of common stock and prefunded warrant units[155] - As of March 31, 2025, the company had cash and cash equivalents of $17.7 million, with working capital of $16.4 million[151] - Net loss for Q1 2025 was $2,460,430, a significant reduction from the net loss of $26,048,044 in Q1 2024[150] - The company has incurred an accumulated deficit of $168.8 million since inception, raising concerns about its ability to continue as a going concern[156] Sales and Distribution - The company sold Grunt EVOs generating $304,905 in revenue, while Brats contributed $99,458 in Q1 2025[133] - The company has entered a distribution agreement with Super Sonic Company Ltd. to supply golf carts in the U.S.[115] - The company signed a five-year agreement to distribute the VLCN HF1 utility UTV model in North America, with royalties starting in the third year[122] - As of May 5, 2025, the company has 129 active powersports dealers, 20 active bicycle dealers, and 14 golf cart dealers[127] - The company has agreements with six importers in Latin America and plans to expand global sales of its vehicles and accessories in 2025[129] Product Development - The company is developing a new electric motorcycle model, with prototypes received in February 2025 and expected sales in the second half of 2025[117] - The company anticipates an increase in sales expenses in 2025 due to the expansion of international distributors and new product launches[140] - The company expects product costs to rise in 2025 due to increased sales and tariffs, with potential savings if parts can be sourced at lower costs[136] Historical Financial Data - Cost of goods sold for Q1 2024 was $1,621,580, with product costs including $343,981 for Grunt EVOs and $582,550 for Brats[135] - Sales and marketing expenses for Q1 2024 were $760,564, including $453,191 in employee payroll costs and $215,429 for product promotion[139] - General and administrative expenses for Q1 2024 totaled $2,080,794, primarily driven by employee payroll costs of $579,363 and insurance costs of $662,927[146] - Product development expenses for Q1 2024 were $814,945, including $436,902 in employee payroll costs and $91,925 for prototype costs[142]

AUSTIN, Texas, May 09, 2025 (GLOBE NEWSWIRE) -- Volcon Inc. (NASDAQ: VLCN) (“Volcon'', the “Company” or “we”), the first all-electric, off-road powersports company, today reported its operational highlights and financial results for the quarter ended March 31, 2025. Company Highlights: ● Sold all remaining Grunt EVO motorcycles in Q1● Signed amended and restated golf cart supply agreement with Venom-EV● Evaluating impact of tariffs on products In the first quarter of 2025, Volcon successfully sold all re ...

PRESS RELEASE Luxembourg, 29th April 2025 VELCAN HOLDINGS: ANNUAL RESULTS 2024 STRONG FINANCIAL RESULTS, STABLE TURNOVER OF THE RODEIO BONITO PLANT, NON-AUDITED KEY CONSOLIDATED FIGURES2024 2023 Var %Revenues (EUR m)3.02.9+2%EBITDA (EUR m)-5.61.8NA%Net Income (EUR m)11.2<td style="width:7.26%; ...

Financial Performance - Revenue for the year ended December 31, 2024, was $4,037,191, an increase of 23.8% compared to $3,260,988 in 2023[163][164]. - Cost of goods sold for 2024 was $18,168,288, significantly higher than $11,391,040 in 2023, reflecting increased production costs[165][168]. - Net loss for 2024 was $45,510,309, slightly higher than the net loss of $45,071,211 in 2023[186]. - Sales and marketing expenses decreased to $2,548,953 in 2024 from $7,405,705 in 2023, indicating a strategic shift in marketing approach[172][173]. - Product development expenses were $2,668,330 in 2024, down from $7,868,985 in 2023, as the company focuses on cost management[176][177]. - General and administrative expenses increased to $7,665,647 in 2024 from $6,388,007 in 2023, driven by higher professional fees and insurance costs[180][181]. - Total operating expenses for 2024 were $12,882,930, down 40.6% from $21,662,697 in 2023[212]. - Cash flow from operating activities showed a net cash used of $(16,037,552) in 2024, compared to $(29,568,092) in 2023, indicating improved cash management[218]. - The company reported a net cash provided by financing activities of $10,373,092 in 2024, a decrease from $27,084,318 in 2023[218]. Financial Position - As of December 31, 2024, the company has an accumulated deficit of $166.3 million[56]. - The company had cash and restricted cash of $2.3 million as of December 31, 2024, with a working capital of $0.4 million[187]. - Total current assets decreased from $19.5 million in 2023 to $5.1 million in 2024, with significant reductions in cash and inventory[210]. - Total liabilities decreased from $41.8 million in 2023 to $6.2 million in 2024, reflecting a substantial reduction in convertible notes and accrued liabilities[210]. - Shareholders' equity improved from a deficit of $19.6 million in 2023 to $40,761 in 2024, following additional capital raises[210]. - The company has recurring losses and has generated negative cash flows from operations since inception, indicating ongoing financial challenges[226]. Compliance and Regulatory Issues - The company is currently not in compliance with Nasdaq's continued listing requirements, with its common stock trading below $1.00 for 30 consecutive business days as of December 19, 2023[129]. - The market value of the company's listed securities has been below the minimum $35 million required for continued listing for the previous 180 calendar days[129]. - A hearing was held on March 26, 2024, resulting in an extension until June 24, 2024, to demonstrate compliance with Nasdaq Listing Rules[130]. - The company completed reverse stock splits in February, June, and November 2024 to regain compliance with Nasdaq's bid price rule[133]. - The company received notices from Nasdaq regarding non-compliance with listing rules, including a market value of listed securities below $35 million and a minimum bid price below $1.00 per share[232]. - The company completed multiple reverse stock splits in 2024, including a 1 for 8 split on November 8, 2024[242]. Operational Challenges - Management anticipates that current cash and expected operational cash flow will not be sufficient to fund planned operations beyond one year from the financial statement date[58]. - The company faces potential production delays due to reliance on single-source suppliers for key components[72]. - Increased costs or shortages of materials, particularly battery cells, could adversely affect the company's operating results and margins[79]. - The company has faced supply chain constraints leading to delays in vehicle production, impacting brand and financial condition[80]. - The ongoing conflict between Russia and Ukraine could affect the availability of nickel, which constitutes 5%-6% of the world's supply, potentially increasing production costs[83]. - The fulfillment of orders depends on third-party manufacturers successfully increasing production capacity, which is uncertain[103]. - The company faces risks of order cancellations due to delays between ordering and delivery, potentially harming financial condition[104]. Product Development and Market Strategy - The company launched the Brat E-Bike in December 2022 and expects to continue sales throughout 2025[62]. - The company signed agreements for the manufacturing of VLCN HF1 UTV and VLCN MN1 vehicles, along with a distribution agreement for golf carts in the U.S.[63]. - The company plans to expand its international distributor network, having already signed agreements with six distributors in Latin America[100]. - There is a significant need for product development and innovation to meet customer preferences and compete effectively[105]. - The company has limited experience in servicing vehicles and is developing a network of service providers, which is critical for customer satisfaction[106]. - The success of the company is tied to the adoption of electric vehicles in the off-road vehicle industry, which is rapidly evolving[111]. Cash Management and Financing - The company entered into an accounts receivable factoring arrangement to generate cash for working capital[98]. - The company received additional net proceeds of $8.8 million from the issuance of common stock after December 31, 2024[196]. - The company anticipates that its cash on hand and expected cash generation will not be sufficient to fund planned operations beyond one year from the financial statement issuance date, raising substantial doubt about its ability to continue as a going concern[231]. - The company converted approximately $7.4 million of principal from Convertible Notes to common stock and exchanged $24.7 million of remaining Convertible Notes for Preferred Stock in early 2024[227]. - The company issued Senior Notes with an aggregate principal amount of $2,942,170 due May 22, 2025, resulting in net proceeds of $2,255,851[228]. - As of February 4, 2025, the company raised net proceeds of $9,143,725 from an At the Market equity offering, with a total offering amount of up to $100 million[230]. Changes in Leadership - The company has made significant changes in its executive team, including the resignation of the CEO and the appointment of a new CEO with a salary of $800,000 and an annual bonus of $250,000[236][237].

Financial Performance - Revenue for Q4 2024 was $0.99 million, a decrease from $1.08 million in Q3 2024 and consistent with Q2 2024[12] - Net loss for Q4 2024 was $5.22 million, compared to a net loss of $13.64 million in Q3 2024[9] - Adjusted EBITDA for Q4 2024 was a loss of $4.98 million, an improvement from a loss of $12.06 million in Q3 2024[18] - The total operating expenses for Q4 2024 were $2.95 million, a slight increase from $2.92 million in Q3 2024[9] Funding and Financial Activities - The company raised $19.5 million in February 2025 from At the Market and Equity Offerings[2] - The company initiated a share repurchase program in March 2025 for up to $2 million[6] - The company has no debt and expects to operate into 2026 with its current cash position[7] Product Development and Agreements - An exclusive distribution agreement was signed with Super Sonic Company Ltd. for golf carts in the U.S.[2] - The company launched the HF1 UTV in Q4 2024 and received prototypes of the FT1 motorcycle in February 2025[3][4] - Venom-EV placed an initial purchase order for $2.4 million under a supply agreement for golf carts[3]

Core Insights - Volcon ePowersports has signed a Supply Agreement with Venom-EV to supply golf carts, with an initial order of 500 units from Venom [1] - The partnership is expected to enhance Volcon's market presence in the golf cart sector, leveraging Venom's established brand and dealer network [1][2] - Volcon's recent funding will support its entry into the golf cart market and expansion plans, particularly in light of U.S. tariffs on Chinese-made golf carts [1] Company Overview - Volcon is based in Austin, Texas, and is recognized as the first all-electric power sports company, focusing on high-quality electric vehicles for outdoor activities [2] - The company aims to provide environmentally friendly and nearly silent vehicles, enhancing the outdoor experience for users [2] Product Development - Volcon's product lineup includes motorcycles, UTVs, and eBikes, with the Grunt being its first product launched in late 2021 [3] - The Grunt EVO, an upgraded version, began shipping in October 2023, while the Brat targets the eBike market [3] - In 2024, Volcon entered the LUV and UTV market, with the first production unit, MN1, shipped in October 2024 [3]

Core Insights - The strategic shift under CEO John Kim has transformed Volcon from a research-focused organization to a collaborative manufacturer of electric vehicles, positioning it as a disruptor in the ePowersports market [1] - The recent partnership with AODES (Super Sonic) has enabled Volcon to raise $19.45 million, facilitating entry into the golf cart and utility vehicle market, leveraging favorable tariffs from Vietnam [2][3] - Cost reductions and a focus on inventory management are expected to lead to cash flow positivity by Q4 2025, allowing the company to sustain operations into 2026 [4] Company Strategy - Volcon's new approach emphasizes collaboration with manufacturers to enhance product offerings and market presence, moving away from a solely R&D focus [1] - The company plans to utilize the recent investment primarily for inventory acquisition and expanding its sales team to meet consumer demand [3] - Outsourcing marketing efforts to specialized firms has contributed to reduced costs and improved market share [3] Market Positioning - The partnership with AODES (Super Sonic) is seen as a significant opportunity to capture market share in the US, especially given the low tariffs on Vietnamese imports compared to those from China [2] - Volcon aims to innovate within the two-wheel vehicle segment while also expanding its footprint in the golf cart and UTV markets [4][6] - The company’s vehicle roadmap includes a range of products, such as the Grunt and its evolution, the Grunt EVO, as well as the Brat eBike and the MN1 utility vehicle [6]