Worksport Ltd (WKSP)

[Charlie V]

9:21 AM EDT, September 20, 2024 (Benzinga Newswire)

R1T, the first electric pickup to hit the road, was the showpiece that launched Rivian Automotive (NASDAQ:RIVN). But considering that the R1S SUV became the signature vehicle Rivian got known for, launching the world’s first electric pickup wasn’t enough to launch Rivian among the EV stars. Even Ford Motor (NYSE:F) couldn’t repeat its F-150 best-selling success on the EV front. Not to mention the EV king, Tesla Inc (NASDAQ:TSLA), who successfully launched the Cybertruck after quite a bit of delays, only to face a new set of challenges. Even Tesla ended up short on the electric pickup front, with Cybertruck sales being pale compared to Model Y and Model 3. To sum it up, SUVs won against pickups in the EV race. For now.
Putting it simply, a larger EV means a less efficient EV. To move around, a heavier vehicle needs more energy and therefore, huge batteries. Rivian somewhat solved this equation with R1T that has the range option of 420 miles, but it requires a huge and expensive battery pack. Stellantis N.V. (NYSE:STLA) is claiming its all-electric Ram 1500 REV pickup will outperform its competitors with range, towing, payload, and charging times. Scheduled to arrive to dealerships early next year, this will be Ram’s first electric pickup. 2025 1500 REV will come with two battery options, resulting in targeted ranges of 350-miles and up to 500 miles. This means Stellantis will leave behind not only Rivian, but also the pickup king, Ford and its 2024 Lightning, whose extended range of 320 miles, and the EV king, Tesla, whose Cybetruck has en estimated driving range of 340 miles. However, it’s no secret that Stellantis is also struggling, both in North America and in Europe, with Chinese EV makers setting up shop as they continue to expand their global footprint. But, despite challenges and weak results for the first half of the year, including a profit dive of 48%, Stellantis is not giving up. Earlier this month, it revealed its plans to invest $406 million to retool three Michigan plants for EV production. But also, it is slowing down as a week ago, it decided to pause the production of electric Fiat 500 model for four weeks, with the plant in Turin will undergo a significant transformation, involving an investment of €100 million, being equipped for developing a hybrid version of the model. Therefore, Stellantis is yet to fulfill its electric pickup promise. 

The Good News Is That All Electric Pickups Just Got Some Solar Power
Meanwhile, Worksport Ltd (NASDAQ:WKSP), an innovative maker of hybrid and clean energy solutions for light trucks and global consumer goods, just initiated the Alpha Launch of its solar-power duo that pickups can greatly benefit from. Its off-grid power on the go duo consists of SOLIS solar-powered tonneau cover and COR mobile battery power generator. Worksport is planning to bring this innovative system to market in three phases, beginning with the Alpha release, followed by the Beta release and ultimately, a full-scale market launch. The initial Alpha release of its cutting-edge nano-grid system has officially been initiated, with Worksport announcing that approximately 100 systems have been set for rigorous testing and public exposure. Worksport already revealed that the SOLIS will be available for major truck brands including Ford, General Motors Company (NYSE:GM) and the Hyundai Motor Company (OTC:HYMTF). In addition, Worksport revealed earlier this month successful lab test results of the portable COR battery system as a range extender for Tesla, namely its Model 3 and Cybertruck.
Therefore, the above examples show that as technologies improve and economies of scale emerge, electric pickups will be in a much more favorable position in the future.

[FUBAR]

Rossi doesn’t pay pumpers, this much I do know and if he did, he should get a refund because these pumpers plain suck at it

[Ambro24]

Pumping is taking place for WKSP on at least 3 sites and clearly coordinated. The pumping is prolific but generic. Hopefully not being done by "The Company". Will we get Solis/Cor within the Week?

[williams45]

$WKSP primed for a major breakout!

[MIchaeljohn]

I believe that September 18th is the release of SOLIS/COR

[williams45]

Choose $WKSP for your next investment! Enjoy steady performance and reliability, making it perfect for long-term growth and asset security.

[williams45]

Invest in $WKSP for success! Benefit from steady performance and reliability, ideal for long-term growth and asset security.

[williams45]

$WKSP is experiencing a price hike! Keep an eye on the trend for potential opportunities and gains.

[Ambro24]

Personally, I think Solis/Cor could be a priceless item if you run out of battery and need to get to a road while camping. You could charge up for a few hours and get out to a road. Additionally, batteries in electric trucks are still somewhat pathetic and need every bit of juice they can get. This device would help with daily driving, camping, outdoor work, surivival, pregame parties etc. Solis and Cor will sell if they get it built and in production.

[Ambro24]

As a moderator here it has been brought to my attention that there has been some likely paid for play pumping occurring. Please attempt to make posts that are substantive, interesting, or informative. Additionally, please post at least 3 sentences.

Topic: What day will Rossi release Cor/Solis? 1) 12th -25th Sep 2) 25th Sep-15th Oct 3) 16 Oct-15th Nov 4) After 16th Nov 5) Never :(


Please answer and give your thoughts.

[williams45]

$WKSP Heating Up!

[GoldDog83]

Adding a starter.

[williams45]

$WKSP on the rise! Catch the wave of potential gains!

[joma]

What happened to your big move? Did it fall off a cliff shake my head

[FUBAR]

Did I miss the big move? I swore I watched WKSP all day waiting for it, what happened? SMH

[williams45]

Boost your portfolio with $WKSP! Reliable performance and steady growth make it a top choice for long-term financial protection.

[joma]

Why are you pumping the stock?

[williams45]

$WKSP Alert! Big move expected in a few hours—don’t miss out!

[jpike]

That was very old news. Disregard please.

[joma]

What is your information on this or is this your or is this pure speculation

[joma]

I’m with you all the way they don’t scare me

[FUBAR]

I have bids all the way into the .20’s, let them dump

[jpike]

R/S

[joma]

Buying time for me

[joma]

Looks like somebody is dumping everything he’s got

[puffadder]

What lol - comical

[williams45]

Invest in $WKSP now for steady growth and long-term stability. This is your opportunity for impressive returns and reliable performance.

[williams45]

Invest in $WKSP for dependable returns! Perfect for sustainable growth and financial stability.

[jackmusk]

$WKSP Bullish with $16.38 Million Market Cap!

[williams45]

$WKSP is ready to soar! Make it your priority for consistent gains and financial success.

[MahinAgency]

Company fundamentally strong, big wave soon

[williams45]

$WKSP Alert! Big move incoming—stay ready for action!

[jackmusk]

Bullish vibes are strong with $WKSP!

[joma]

Good to see you same yeah just waiting and watching that’s all our time will come

[FUBAR]

I’m still around. Not really watching WKSP but still have my shares and playing the waiting game

[MIchaeljohn]

If you watch the video on there website, they said they would release in summer 2024, they even said we have till September 21st. Will be releasing 100 solis covers by then. Next year of up to 500 solis covers to start the year.

[Ambro24]

I am still alive and here

As the moderator here let's talk odds:

1) What are tye odds Solis/Cor is completed by October?
2) What are the odds Rossi will R/S?
3)Will we get close to $1.00 and then do some more warrants at .75?
4) Will this hit $5.00 within a year?

[joma]

Looks like even the moderators and abandoned the board. Maybe we need new moderators

[Looklook17]

Now the Alpha release is in September. What happened with the release this summer?

[Charlie V]

Worksport ($WKSP) Announces Record High Revenues;

275% Q2 Growth

Q2 Earnings Call Available: Management Discusses Revenue Growth and Future Outlook
West Seneca, New York, August 14th, 2024 — Worksport Ltd. (NASDAQ: WKSP) ("Worksport" or the "Company"), a U.S.-based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors, at market close yesterday reported the financial results for the second quarter of its fiscal year (Q2 FY 2024) ended June 30, 2024.
Financial Results
Worksport continues its remarkable early growth story and reports an 860% revenue increase in Q2 2024 vs. Q2 2023, with 275% growth from Q1 2024, reaching a new record of $1.92 million. This surge is directly attributed to the new Buffalo factory and the launch of dealer and e-commerce marketing initiatives. Worksport believes that while revenue is still in its early stages, the growth rate in recent quarters is highly encouraging. The Company has gained strong sales traction through its rapidly expanding channels, and with the introduction of innovative, higher-margin products on the horizon, Worksport expects this momentum to continue, driving further rapid revenue growth in the upcoming quarters.
By the end of Q2, Worksport's Monthly Reoccurring Revenue (MRR) was on track to hit $1milllion per month. The Company believes the MRR will continue to grow in 2024 with the ongoing ramp up of the Al3 line and introduction of the premium Al4 product line in Q4.
"Notably, Q2 sales surpass the entire 2023 year-end revenue of $1.5 million, states Mike Johnston, Company CFO. "Gross profit margins in Q2 2024 reached 15.4%, an 111% improvement from Q1. Early 2024 production efficiency was below baseline due to efforts in enhancing production processes and product improvements. However, Worksport anticipates improved baseline efficiency in the latter half of the year, which is expected to boost future margins. Additionally, cost savings from our scaling efforts and the introduction of premium products are projected to further enhance margins into FY 2025"

[56kwf]

The company has released a lot of good news in the last few months, but the stock price is awful. It is equivalent to being about 3 1/2 cents pre-reverse split 3 years ago. At least now it looks like they might have good revenue numbers to report. I'm bullish at this level.

[Charlie V]

$WKSP https://investors.worksport.com/worksport-ltd-announces-impressive-solis-solar-cover-test-results/

Pilot SOLIS solar tonneau covers are currently being produced in the Company’s state-of-the-art Western New York factory using fully tooled, production-ready components. This factory will be home to the Worksport’s SOLIS Alpha and full-scale production.

The Alpha release of Worksport’s Solar Truck Cover and COR portable energy system is set for later this summer, targeting multiple high-growth billion-dollar markets.

[MIchaeljohn]

I Do Believe that the election should and will change a lot of things, including the strength and growth of WKSP And Solis

[Ambro24]

You may want to check your reading comprehension. I have often been negative myself. My negativity is well founded.

However, WKSP is not a lost cause. We have at least 3 pathways right now for improvement. Higher revenues with standard covers, new revenues with Solis or Cor, Partnerships. More could be listed.

[joma]

Oh yeah, what you’re saying is correct however does not matter what you post there is always a bunch of negative people breaking you and the company down so for now I’ll stay out of posting on this board though it gets better

[Ambro24]

As a moderator here, it pains me to see how low the quality has gotten in these posts. Most appear to be re-posting of company PR we can all look up. How about some estimates on quarterly earning? How about an over or under on release date of COR and or Solis? How many units of COR and Solis per month once released? Do we still believe in Rossi? Lets get some talk going people, we are human beings.

[Charlie V]

https://investors.worksport.com/worksport-wksp-announces-q2-2024-earnings-call-for-august-13th/

West Seneca, New York, July 18, 2024 — Worksport Ltd. (NASDAQ: WKSP) (“Worksport” or the “Company”), a U.S.-based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors, is excited to announce its Q2 2024 live earnings call scheduled for August 13, 2024, at 4:30 PM ET. This call will be conducted online and will include a detailed discussion of the Company’s performance and forward-looking insights.

Invitation to Analysts and Investors

Worksport invites analysts, investors, and media to join the live earnings call. This event will provide a comprehensive overview of its Q2 2024 results and offer a platform for direct engagement with the Company’s leadership.

Call Details

Date: August 13, 2024 Time: 4:30 PM ET Participation: To join the live call, please visit WKSP Q2 Earnings Call to register now.

Expected Topics

The Company has seen a dynamic quarter filled with significant developments and milestones. While specific details will be shared during the call, attendees can look forward to insights into our recent achievements and strategic initiatives. This includes updates on our record-breaking sales month in May 2024, the launch of our new dealer webpage, and the anticipated release of the SOLIS solar cover and COR portable energy system. The Company will also provide an update to its financial guidance.

CEO’s Statement

“We are thrilled to invite our stakeholders to our Q2 live earnings call,” said Steven Rossi, CEO of Worksport. “This quarter has been transformative for Worksport, and we are eager to share the details of our progress and future plans. We believe the results will reflect our commitment to innovation and growth.”

[hopeok]

LOL.. Dang its been a long time. A lot of twists and turns. Still holding.

[Charlie V]

Worksport ($WKSP) Expands Dealer Network, Exciting Growth Continues

West Seneca, New York, July 11, 2024 — Worksport® Ltd. (NASDAQ: WKSP), a U.S.-based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors, is excited to announce the launch of its new dealer webpage. The launch of this new dealer portal follows Worksport’s record-breaking sales month in May, which reinforced the Company’s year-end revenue guidance of $6-8 million, a substantial increase from the ~$1.5 million achieved in 2023.

Increased Sales

The new dealer webpage is designed to streamline the process for dealers to access and purchase Worksport products. Dealers can now find our products through distribution partners or directly from the company. Visit www.worksportdealer.com for more information. Early sales traction and dealer interest are already evident, underscoring the increasing demand for Worksport’s offerings.

“In the last week alone, over 20 dealers have received Worksport products, and more than 100 have communicated interest,” said Steven Rossi, CEO of Worksport. “This new dealer webpage is a strong step in supporting our dealer network and driving our sales growth. With a market size of over 7 million covers per year and a factory capable of producing 900+ covers daily, we believe the tonneau cover business is well-positioned to achieve cashflow positivity and nine-figure revenues in the near-term.

Rossi added, “To add to the excitement, the Worksport SOLIS solar tonneau cover and COR portable energy system, scheduled for initial release later this summer, are expected to unlock the next segment of growth for the company. We are very excited as the solar cover is first-to-market, and the COR system incorporates many unique features in the rapidly growing portable power industry.”

Businesses interested in becoming dealers in Worksport’s exclusive, highly innovative products are encouraged to visit the dealer page to find valuable information and connect with Worksport’s’ sales team.

Strategic Growth and Market Potential

Worksport specializes in manufacturing tonneau covers for all major vehicle makes and models, targeting a market with over 20,000 dealers across North America. The company aims to actively recruit dealers into the Worksport ecosystem through distribution and direct trade. The launch of a new dealer webpage is anticipated to drive sales, supporting the company’s year-end revenue targets and future growth.

Earnings Call and Upcoming Product Launches

Worksport’s Q2 earnings will be reported in August, accompanied by the company’s first live earnings call. More information to come. Additionally, investors are reminded of the upcoming soft launches of the SOLIS solar cover and the COR portable energy system later this summer, with more updates to follow in the coming weeks.

Key Press-Releases released in 2024:

June 20, 2024: Worksport Announces Record Breaking May Sales
June 13, 2024: Worksport Awarded ‘Innovator of the Year’
May 16, 2024: Worksport Reports 1,506% Q1 Revenue Surge
May 8, 2024: Worksport Awarded $2.8MM Grant
April 25, 2024: Worksport Signals Undervalued Status, Eyes Major 2024 Growth
March 18, 2024: $2.8MM Direct Offering Priced At-The-Market.
March 6, 2024: Worksport to Launch Innovative SOLIS & COR Products This Summer
February 7, 2024: Infineon and Worksport Announce Collaboration

[MIchaeljohn]

WORKSPORT LTD.
2500 N America Dr
West Seneca, NY 14224
T: [phone]
www.worksport.com
NOTICE OF ACTION BY WRITTEN CONSENT OF STOCKHOLDERS
AND INFORMATION STATEMENT
To the Holders of Common Stock of Worksport Ltd.,
The enclosed Information Statement is being furnished to the holders of record of the shares of the common
stock, with a par value of $0.0001 per share (the “Common Stock”), of Worksport Ltd., a Nevada corporation (the
“Company”), as of the close of business on the record date, June 7, 2024 (the “Record Date”). We are writing to advise
you that a stockholder representing approximately 60% of the voting power of the outstanding capital stock of
Worksport Ltd., as of the close of business on the Record Date, approved by written consent, a proposal to authorize,
for purposes of complying with Nasdaq Listing Rule 5635(d), the issuance of shares of our Common Stock underlying
warrants issued by us pursuant to an inducement letter, dated May 29, 2024, between us and a certain investor named
on the signature page thereto, in an amount equal to or more than 20% of our Common Stock outstanding immediately
prior to the issuance of such warrants (the “Share Issuance”).
Our board of directors unanimously approved and recommended that our stockholders approve the Share
Issuance. Steven Rossi, our Chief Executive Officer, President, and Chairman of our board of directors, holds 100
shares of Series A Preferred Stock, representing 100% of our outstanding Series A Preferred Stock. According to the
Certificate of Designation of the Series A Preferred Stock, the Series A Preferred Stock votes together with the
Common Stock on all matters, except as prohibited by law, and is entitled to 51% of the voting of the Common Stock,
regardless of how many shares of Series A Preferred Stock is outstanding. Mr. Rossi, as the Majority Stockholder,
approved the Share Issuance on June 7, 2024, by written consent in lieu of a stockholders’ meeting.
Please note that the number of votes already received from the Majority Stockholder is sufficient to
satisfy the stockholder vote requirement for this action under Nevada law and our articles of incorporation, as
amended, and consequently no additional votes will be needed to approve the actions.
No action is required by you. The accompanying Information Statement is solely for information purposes
only and does not require or request you to do anything. You are encouraged to carefully read the accompanying
Information Statement, including exhibits, for further information regarding the Share Issuance. This Information
Statement is first being mailed to you on or about June 18, 2024.
This is not a notice of a special meeting of stockholders, and no stockholder meeting will be held to
consider any matter described herein. We are not asking you for a consent or proxy, and you are requested not
to send us one.
June 17, 2024 By Order of the Board of Directors,
/s/ Steven Rossi
Steven Rossi
Chief Executive Officer and Chairman