Volcon Inc
NASDAQ:VLCN
NASDAQ FSI:D. Deficient (Issuer failed to meet continued listing requirements)

  • LAST PRICE
    0.2331
  • TODAY'S CHANGE (%)
    0.0000 (0.0000%)
  • Bid / Lots
    0.2415/ 5
  • Ask / Lots
    0.2500/ 41
  • Open / Previous Close
    0.0000 / 0.2331
  • Day Range
    ---
  • 52 Week Range
    0.2119
    306.0000
  • Volume
    38,216

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  • Mar 28, 2024

      Show headlines and story abstract

    • 6:39PM ET on Thursday Mar 28, 2024 by GlobeNewswire
      Companies Mentioned: VLCN

    • 6:39PM ET on Thursday Mar 28, 2024 by Dow Jones
      Companies Mentioned: VLCN
      of the warrants issued with the August 2022 convertible notes as more fully described in the Company's interim financial statements as of and for the three and nine month periods ended September 30, 2023. The conversion feature and warrants are no longer derivative liabilities as of August 3, 2023, and have been reclassified to equity as of September 30, 2023. In addition, in the third quarter of 2023, the Company incurred higher prototype vehicle and part costs of $1.6 million over the second quarter of 2023 as the Company received additional validation units in anticipation of a fourth quarter 2023 product launch. Net loss in the second quarter of 2023 includes a loss on extinguishment convertible notes of $22.3 million for the convertible notes issued in August 2022 for notes issued in May 2023 and an exchange of convertible notes for the August 2022 notes, partially offset by a gain on derivative liabilities of $5.8 million for the derivative liabilities noted above. The net loss for the second quarter of 2022 also includes the reversal of warranty expense of approximately $0.5 million due to the expiration of the one-year warranty on the Grunt as warranty claims were substantially lower than the estimated warranty cost initially recorded when Grunts sold. -- Adjusted EBITDA: Adjusted EBITDA for each quarter of 2023 represents net loss adjusted to add back stock-based compensation, depreciation and amortization expense, interest expense, the loss/gain on derivative liabilities and warrant liabilities and for the second quarter of 2023, an adjustment for the loss on extinguishment of convertible notes and the add back of issuance costs in the fourth quarter. The Company's adjusted EBITDA for the fourth quarter was a loss of 9.4 million, compared to the third quarter of 2023 loss of $8.9 million and compared to the second quarter of 2023 loss of $4.2 million. See "Non-GAAP Reconciliation" below.

    • 6:39PM ET on Thursday Mar 28, 2024 by Dow Jones
      Companies Mentioned: VLCN

    • 4:46PM ET on Thursday Mar 28, 2024 by Accesswire
      Companies Mentioned: VLCN

      AUSTIN, TX / ACCESSWIRE / March 28, 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 year ended December 31, 2023.

    • 4:46PM ET on Thursday Mar 28, 2024 by Dow Jones
      Companies Mentioned: VLCN
      extinguishment convertible notes of $22.3 million for the convertible notes issued in August 2022 for notes issued in May 2023 and an exchange of convertible notes for the August 2022 notes, partially offset by a gain on derivative liabilities of $5.8 million for the derivative liabilities noted above. The net loss for the second quarter of 2022 also includes the reversal of warranty expense of approximately $0.5 million due to the expiration of the one-year warranty on the Grunt as warranty claims were substantially lower than the estimated warranty cost initially recorded when Grunts sold. -- Adjusted EBITDA: Adjusted EBITDA for each quarter of 2023 represents net loss adjusted to add back stock-based compensation, depreciation and amortization expense, interest expense, the loss/gain on derivative liabilities and warrant liabilities and for the second quarter of 2023, an adjustment for the loss on extinguishment of convertible notes and the add back of issuance costs in the fourth quarter. The Company's adjusted EBITDA for the fourth quarter was a loss of 9.4 million, compared to the third quarter of 2023 loss of $8.9 million and compared to the second quarter of 2023 loss of $4.2 million. See "Non-GAAP Reconciliation" below