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lol. boom? its up a whole penny. lol are you on drugs?
yea, at .008, it will be too IMO. just a matter of time IMO.
lol. IMO Aint happenin. do you even know what a chart is? i dont think so
VLCN has until June 24th. to get back up to over $1.00 per share which the company will very easily do. No worries here. BUY - HOLD - RELAX!!
you showing BULLISH on this stock is a total comic relief. do you actually take pride in being SO WRONG since you posted pumps at .90 to 1.00 and higher?
.29! only .09 left. and wasnt this just at 2.00 like less than 2 weeks ago. now theres a shareholder friendly stock. pffffft
Wow - INSTANT EQUITY - a LOT of instant equity. I LOVE IT!!
$VLCN FORM 8-K
__________________________
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 4, 2024 (April 2, 2024)
__________________________
Volcon, Inc.
(Exact Name of Registrant as Specified in its Charter)
__________________________
Delaware 001-40867 84-4882689
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification Number)
3121 Eagles Nest Street, Suite 120
Round Rock, TX 78665
(Address of principal executive offices and zip code)
(512) 400-4271
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
? Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
? Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
? Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
? Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-14(c)).
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.00001 per share VLCN NASDAQ
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ?
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ?
Item 8.01 Other Events.
As previously reported, on December 19, 2023, Volcon, Inc. (the “Company”) was notified by the Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market (“Nasdaq”) that the Company was not in compliance with Nasdaq’s Listing Rule 5550(a)(2), as the minimum bid price of the Company’s common stock had been below $1.00 per share for 30 consecutive business days.
Also previously reported, on December 26, 2023, the Staff notified the Company that it had determined that the Company’s common stock had a closing bid price of $0.10 or less for ten consecutive trading days. Pursuant to Nasdaq’s Listing Rule 5810(c)(3)(A)(iii), if during the 180-day compliance period provided by Listing Rule 5810(c)(3)(A), a listed security has a closing bid price of $0.10 or less for ten consecutive trading days, the Staff shall proceed with a Staff delisting determination. Pursuant to the deficiency letter, the Staff notified the Company that it had determined to delist the Company’s common stock from The Nasdaq Capital Market.
Additionally, as previously reported, on January 4, 2024, the Staff notified the Company that the market value of its listed securities had been below the minimum $35,000,000 required for continued listing as set forth in Nasdaq’s Listing Rule 5550(b)(2) for the previous 180 calendar days and served as an additional basis for delisting.
The Company submitted a hearing request to Nasdaq’s Hearings Department, which stayed the suspension of the Company’s common stock. The Company’s hearing was held on March 26, 2024.
On April 2, 2024, the Company received notification from the Nasdaq Hearings Panel (“Panel”) that it has granted an extension until June 24, 2024, to demonstrate compliance with Listing Rules 5550(a)(2) and 5550(b)(1), subject to certain conditions. The Company intends to implement its plan to meet the milestones set forth by the Panel prior to June 24, 2024.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Volcon, Inc.
(Registrant)
Date: April 4, 2024 /s/ Greg Endo
Greg Endo
Chief Financial Officer
bids? you dont read English do you? more like offers. and theyre in at .20. ill probably cover in 2 weeks tops. this will easily see .20 or less.
your bids in at .05 now? what happened to .20??
reverse psychology wont work here bro. just look at the chart. i guess well see you with 6x the amount of shares once this hits .05? pffffff
Thanks for all of the additional REALLY cheap shares of VLCN stock. Thanks to all of you wonderful panic sellers I now have almost three (3) times the amount of shares that I used to have and I have cut my C.P.S. almost in half. God I love panic sellers.
extremely dead. lol
Dead cat bounce
https://ih.advfn.com/markets/nasdaq/premarket
How low do we go today? Shall we test the 0.02s? Almost down 50% since earnings, that says it all, another Arcimoto (FUV) in the making
Lol already happened from .95 to 2.15
.33! Only .13 away from covering. This is sooner than I thought.
Fun to watch people throw their shares away for nothing. Oh well.
you could have easily said the same thing at 10.00 pps. noone listens to that BS youre spewing
.44 now. Wasnt it just a few days ago that everyone was boasting about buying at .95 for the big run? Oh and I forgot. People were making fun of my 12.00 average short and said I better cover or id get caught w my pants down. Pretty entertaining in here.
Now there's a chart that dreams are crushed out of
Yep, share price action tells it all. This one is toast
And what source of energy are theyb using to charge those?? Diesel generators!!
yea right. thats why this stock has been falling since WHAT PRICE? lol
Stupid nonsense. The Army has massive portable chargers which can be used anywhere. Learn how to do some DD's.
The whole concept of an army using EV is as flawed as it could be. Look at the battlefields in Ukraine or Gaza and tell me where you are supposed to charge your vehicles. Don't know what they are smoking at Pentagon, but that's heavy stuff. I could understand if it were Trump's idea, but that one is ridiculous and scary!!
Yea however that view helps me EASILY recognize the shareholder trap share selling scams so my acct stays FULL
glass half empty type arent ya?
Yep basically they're saying they can't stay afloat without RUINING THE STOCK AND SCREWING SHAREHOLDERS.just great
Thats disgusting
$VLCN enough cash on hand to continue to fund operations and the CEO was able to talk creditors into converting some of the debt into preferred shares, They already have Purchase orders and next is production ramp up. in 2 weeks we will get another extension (IMO). all is well if they can lower production costs and increase sales. IMO
Liquidity and Capital Resources
On December 31, 2023, we had cash of $8.2 million, including $0.2 million of restricted cash and we had a negative working capital of $21.4 million. Since inception in February 2020, we have funded our operations from proceeds from debt and equity offerings.
Cash used in operating activities
Net cash used in operating activities was $29.6 million for the year ended December 31, 2023 and includes all of our operating costs except stock-based compensation of $2.6 million, write-down of inventory of $4.3 million, depreciation and amortization of $0.2 million, non-cash interest expense for the amortization of debt issuance costs and accretion of principal on Convertible Notes and May 2023 Notes of $5.0 million, gain on change in derivative financial liabilities of $13.5 million, loss on extinguishment of Convertible Notes of $22.3 million, bad debt expense of $0.1 million. Cash used in operating activities includes a decrease in accounts receivable of $0.6 million due to collections, increases in inventory of $7.6 million due to the purchase of Brats, Volcon Youth motorcycles and purchases of inventory for the Stag after considering the write down of Grunt and Volcon Youth motorcycle inventory, a decrease of $0.2 million in accounts payable, and an increase of $1.1 million in accrued liabilities due primarily to the accrual recorded for the settlement to Torrot. As of December 31, 2023, we have an increase of $0.4 million in customer deposits, primarily for orders to be fulfilled from two of our Latin American distributors for shipments of Brats and Grunt EVOs.
Risks Related to our Common Stock
In March 2024, we exchanged our outstanding convertible notes for Preferred Stock and a significant number of shares of common stock could be issued upon conversion.
In March 2024, we issued Series A Preferred Stock (the “Preferred Stock”) at $1,000 per share in exchange for $24.7 million principal of convertible notes. The initial conversion price for the Preferred Stock is $1.33 and is convertible at any time. On March 5, 2024, certain holders of the Preferred Stock converted approximately $2.3 million for approximately 1.7 million shares of common stock. The total number of shares of common stock that could be issued as of March 27, 2024 for the outstanding Preferred Stock on this date is approximately 16.8 million shares. The conversion price of the Preferred Stock is subject to adjustment if certain events such as a stock split, reverse stock split, or stock dividend occurs, or if we issue equity or convertible instruments at offering prices below the conversion price. In addition, in the event of a change of control or sale of substantially all of the Company’s assets, the Preferred Stock agreement provides for distributions that are either based on the number of common stock shares issuable under these agreements or based on other valuations as defined in the agreement.
The Preferred Stock holders may resell all, or some of the shares of common stock underlying the Preferred Stock after conversion, at any time or from time to time at their discretion. Resales of our common stock may cause the market price of our securities to drop significantly, regardless of the performance of our business. The adjustment of the conversion price for the Preferred Stock held by these investors based on the price of future issuances of securities could also limit our ability to raise capital as potential investors may not make an investment in a new issuance of securities if their investment could be immediately diluted due to adjustments in the conversion price or warrant exercise prices.
imagine you saying that when this was 3600 pps. lol yea it was that high accounting for the splits. lol
Looks like something very positive is happening with VLCN. Don't miss out.
Idc. I just know my average is 12.5! This stock is done. It'll just up and down to .03 or .04. Just a matter of time
Iam sure this wont help your case.
https://www.sec.gov/Archives/edgar/data/1829794/000168316824001664/volcon_8k.htm
Volcon Contacts:
For Media: media@volcon.com
For Dealers: sales@volcon.com
For Investors: investors@volcon.com
Volcon Products:
Volcon Stag: https://www.volcon.com/stag
Volcon Brat: https://www.volcon.com/brat
Volcon Grunt: https://www.volcon.com/grunt-evo
Volcon Runt: https://www.volcon.com/runt-lt
Volcon Youth Line: https://www.volcon.com/youth
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