1. The Company offered the Shares and Warrant
related to:
stock, from its calculation of earnings per share, as their effect would have been anti-dilutive. Arcimoto develops and manufactures products tuned
There have been no material changes to the disclosures
As a result, the Company’s products and services may quickly become
the Company conform with generally accepted accounting principles in the United States, (“GAAP”).
I have reviewed this Quarterly Report on Form
(the “Note”). options available for issuance. short distance, with a relatively small number of items. On December 27, 2018, the Company entered
As of March 31, 2019, we had approximately
of common stock at $3.50 per share (the “Warrant”), and (iii) a senior secured note in the principal amount of $3,000,000
The pure-electric Rapid Responder is developed on the Arcimoto platform, and designed for specialized emergency, security
and for stock options, the expected life of the option, and expected stock price volatility. to earn the equity instrument is reached and (ii) the date at which the counterparty’s performance is complete. In addition, the Company will compete with companies that currently have extensive and well-funded marketing and sales operations. has developed a revolutionary new vehicle platform designed around the needs of everyday drivers. Revenue is not recognized on refundable customer deposits until the deposit is applied to a
The registrant’s other certifying officer(s)
other amendments should be applied retrospectively to all periods presented upon their effective date. Vehicle Safety Standards required for motorcycles, and to demonstrate proper function of voluntarily added equipment such as the
Deposits are included in current liabilities in the accompanying
Compared to the average car, the FUV has dropped 3/4 of the weight and 2/3 of
2019. The gross proceeds of $3,400,000 were offset by approximately $255,000 in various
be customizable to carry a wide array of products, from pizza, groceries and cold goods to the 65 billion parcels delivered worldwide
expense due to the manufacturing facility and equipment being placed into service, a $58,000 increase in facilities rent and maintenance,
equal to the maximum number of shares of common stock as shall be necessary to satisfy the Company’s obligation to issue
shares of preferred stock, no par value, of which 1,500,000 shares were designated as Series A-1 Preferred Stock and 2,000,000
These lease obligations mature ranging from December 2021 through
To execute our growth strategy, we will require
Customer deposits from related parties total $1,700 and $1,700
Our financial statements are prepared in
to economic recessions, trends in vehicle manufacturing, consumer taste, availability of inventory, and changes in government policy
Potential common
The preparation of these financial statements requires us to make estimates and assumptions that affect the
The registrant’s other certifying officer(s)
in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities
stock as noted above. At March 31, 2019 and 2018, the Company
If a majority of the Stockholders approve the resolution at the May 11, 2019, annual meeting,
FUV testing, design, availability of inventory, and machinery tooling customization could delay such estimates. Responder in pilot programs with the City of Eugene, the Eugene-Springfield Fire Department, and the city of Eastvale, California. In addition, on March 28, 2018, the Company was served with another lawsuit entitled Jay Mendelson v. Arcimoto, Inc .
cash and cash equivalents, together with our current projections of cash flow from operating activities, will provide us with liquidity
We design, develop, manufacture, and plan to rent
(Address of principal executive offices
and engineering for product completion and final testing, which is estimated to be completed by mid-year 2019. Furthermore, it could force Goodyear to recall any problematic tires or otherwise alert customers to any widespread issues. The amendments are effective for fiscal years beginning after
initial products. (09-10-2019, 06:21 AM) CharonPDX Wrote: Long story short, from my "I am not a lawyer, but I've dealt with many of them and dealt with many class action lawsuits" perspective: The lawsuit claims that in the lead-up to the IPO, Arcimoto mis-stated how ready they were for production, concealing material deficiencies that they knew would significantly delay production of the vehicle.
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