Company Overview - Volcon ePowersports is the first all-electric power sports company, focusing on high-quality and sustainable electric vehicles for the outdoor community [1] - The company is based in Austin, Texas, and aims to provide environmentally friendly and near-silent operation vehicles for an immersive outdoor experience [1] Product Roadmap - Volcon's vehicle lineup includes motorcycles and UTVs, with the Grunt being the first product launched in late 2021, featuring a fat-tired design and high-torque electric power [2] - The Grunt EVO, an upgraded version of the original Grunt, began shipping in October 2023, featuring a belt drive and improved suspension [2] - The Brat, Volcon's entry into the eBike market, is currently being delivered to dealers across North America [2] - The Stag, introduced in July 2022, is Volcon's first UTV, with its first production unit shipped in February 2024, offering a unique outdoor exploration experience without the noise and pollution of gas-powered UTVs [2] Communication and Updates - CEO John Kim released a video update discussing recent developments within the company, with further updates expected [1][4] - For media inquiries, the company provides specific contact emails for media, dealers, investors, and marketing [3]

Financial Performance - The company's revenue for Q2 2024 was $0.9 million, a decrease from $1.0 million in Q1 2024 and consistent with Q4 2023 revenue[5]. - Operating expenses for Q2 2024 were $3.4 million, down from $3.7 million in Q1 2024 and $4.7 million in Q4 2023[7]. - The net loss for Q2 2024 was $0.6 million, significantly reduced from $26.0 million in Q1 2024 and $3.4 million in Q4 2023[9]. - Adjusted EBITDA for June 2024 was $(5,133,444) compared to $(4,135,683) for March 31, 2024, indicating a decline[16]. - Overall, the adjusted EBITDA reflects a worsening trend compared to the previous year, with a notable increase in losses[16]. Cost Management - Cost of goods sold for Q2 2024 included a $1.1 million charge for a settlement agreement with a vendor and a $0.4 million write-off for Stag tooling[6]. - The company has reduced headcount costs and streamlined product development to minimize cash requirements and inventory[5]. - Share-based compensation expense was $287,751, a decrease from $404,568 in the previous period[16]. - Interest expense decreased to $196,997 from $329,968, reflecting improved financial management[16]. - Depreciation and amortization expense increased to $99,517 from $75,405, indicating higher asset utilization[16]. Future Projections - The company anticipates completing Army Corp's orders by August 2024, delayed by one month due to manufacturing issues[2]. - Prototypes for the next generation Grunt and a new UTV model are expected by Q3 2024, with availability projected for Q1 2025[3][4]. - The company is focusing on reducing net losses and managing expenses more effectively moving forward[16]. Capital and Compliance - The company raised $12 million in July 2024 from an equity offering, improving its balance sheet and equity structure[1]. - The company regained Nasdaq compliance on July 17, 2024, and will be monitored for one year[1]. Other Financial Metrics - Loss from conversion and exchange of convertible notes was $1,647,608, which was not present in the previous period[16]. - Issuance costs were recorded at $1,444,547 in the previous period, with no new issuance costs reported for the current period[16]. - The gain/loss on change in fair value of derivative liabilities was $(5,111,291) compared to $(8,365,424) in the previous period, showing an improvement[16].

Group 1 - UBS Group AG has been actively trading shares of Volcon (NASDAQ: VLCN), with transactions occurring from July 5 to July 8 [1][5] - UBS purchased 108 shares of VLCN stock for a total of $488.82, with prices ranging from $4.3885 to $4.53 per share [2] - Following the trades, UBS's indirect holdings in VLCN decreased from 26,131 shares to 24,973 shares [5] Group 2 - The trading activity led to significant interest in VLCN stock, resulting in over 6 million shares traded on Thursday, compared to the average daily volume of approximately 1.1 million shares [6] - As of Thursday morning, VLCN stock has increased by 84.7% [7]

Exhibit 99.1 Volcon ePowersports Reports First Quarter 2024 Operational and Financial Results AUSTIN, TX (May 7, 2024) - 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, 2024 Company Highlights: As previously noted in our 2023 annual operational updates, Volcon presented its plan of compliance to the Nasdaq Hearing Panel on March 26, 2024 regardi ...

OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to__________ Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 (Exact Name of Registrant as Specified in Its Charter) Delaware 84-4882689 (State or Other Jurisdiction of Incorporati ...

Volcon presented its plan of compliance to the Nasdaq Hearing Panel on March 26, 2024 regarding ongoing compliance with the bid price and equity compliance. Nasdaq is currently evaluating the Company's plan and the timing of the decision is at the discretion of the Hearing Department. In the event that the Hearing Department does not agree with the Company's plan or if the Hearing Committee provides the Company a stay from suspension and the Company is unsuccessful in carrying out its plan, the Company's co ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to__________ Commission file number: 001-40867 Volcon, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 84-4882689 ( ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to__________ Commission file number: 001-40867 Volcon, Inc. (Exact Name of Registrant as Specified in Its Charter) | Delaware | ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to__________ Commission file number: 001-40867 Volcon, Inc. (Exact Name of Registrant as Specified in Its Charter) | Delaware | 84-4 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to__________ Commission file number: 001-40867 Volcon, Inc. (Exact Name of Registrant as Specified in Its Charter) Indicate by chec ...