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WKSP is hiring a lot of folks in anticipation of new product offerings, continued R&D on a variety of projects and production personnel. Linkedin now shows 33 employees (almost assuredly doesn't count any production personnel so the actual number is probably closer to 50 or more). They literally get hundreds of applicants for the degreed professional level jobs.
This all bodes well for what is fast becoming a small cap growth story. I love the marketing strategies being used to increase market shares for their soft/hard covers.
GLTA
WKSP has h ired a ton of people to support their expansion over the last year. And it continues to add people to the rolls. They are now North of 50 employees. The last PR indicates their next phase is a big push to market now that they have a variety of great soft and hard covers available.
Consistent hiring push and a need to continue to build inventory and increase productio capacity leads me to believe that they are close to needing some additional capital. Last Q indicated about 5.7M in cash on hand. They are actively working to get grants etc to help fuel expansion. They also have warrants sitting out there priced at 6.05. This could also generate some capital as they grow. I think it will be a combination of many sources that can help fuel their growth and maintain a crazy low capital structure.
Four more production lines combined with additional automated equipment requires capital.
It's all good as WKSP is ready to roll North. COR/SOLIS Q1 2024 IMO. They're working with some big players on th is technology.
JMHO
Worksport LTD Launches Ambitious Sales Strategy, Announces Four Sales Partners For Market Growth
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West Seneca, N.Y. August 31, 2023, Worksport Ltd. (“Worksport” or the “Company”) (Nasdaq: WKSP; WKSPW) today announces a comprehensive sales strategy, demonstrating a positive stance on future growth and an unwavering commitment to maximizing return on investment for its shareholders.
Initiating production in early August, Worksport’s factory rapidly secured a commanding $1.6 million order for its premium hard-folding covers. As the Company heightens its focus on production efficiency, the ensuing months are slated to witness an expansion of its operational capabilities, inclusive of multiple new assembly lines, reflecting the Company’s dedication to amplifying shareholder value through strategic capital deployment.
This bolstered production capacity positions Worksport to fortify its brand prominence across eminent B2C platforms, such as Amazon, Walmart, eBay, and the Company’s own e-commerce site. Concurrently, the Company projects onboarding a myriad of new business to business (“B2B”) clientele. Buttressing this expansion drive is the strategic alliance with four distinguished sales partners. The first partner, a venerable entity since 1974, offers representation across all major Canadian distributors with its six representatives spread across Western and Eastern Canada. The second, celebrated as an industry titan, deploys seven agency representatives catering to 14 southeastern states from Texas to West Virginia. The third, automotive specialists with a 20-year SEMA affiliation, oversees territories spanning New Mexico to Montana. Finally, the fourth ensures meticulous coverage across midwestern states from Minnesota through Ohio and has garnered over 100 accolades from manufacturers, encompassing top sales volume recognitions, awards for most improved sales, and distinctions for both Company representative and salesperson of the year.
“At Worksport, we’re reshaping the North American truck bed sector through innovation and strategic partnerships. Every move, from our superior soft- and hard-folding covers to our SOLIS solar cover and COR battery system, is a testament to our commitment to deliver exceptional value,” said Steven Rossi, Worksport’s Chief Executive Officer.
These partners, strategically aligned with Worksport’s anticipated surge in production, are primed to turbocharge the Company’s B2B sales outreach. Initial data reveals a promising prospect of over 70,000 potential B2B clients, setting the stage for Worksport to grow sales in the North American truck bed market.
Simultaneously, Worksport is diligently advancing its efforts to introduce the SOLIS solar cover and the COR battery system to the market. The Company is poised to provide investors with promising updates in the near future.
For shareholders, this narrative echoes Worksport’s visionary strategy and staunch commitment to driving sustained growth while continually enhancing shareholder value.
About Worksport Ltd.
Worksport Ltd. (Nasdaq: WKSP), through its subsidiaries, designs, develops, manufactures, and owns the IP on a variety of tonneau covers, solar integrations, and NP (Non-Parasitic), Hydrogen-based true green energy solutions for the sustainable, clean energy, and automotive industries. Worksport Ltd. seeks to capitalize on the growing shift of consumer mindsets towards clean energy integrations with its proprietary solar solutions, mobile energy storage systems (ESS), and NP (Non-Parasitic), Hydrogen-based technology. For more information, please visit www.worksport.com and investors.worksport.com.
Connect with Worksport:
Please follow the company’s social media accounts on Twitter, Facebook, Linkedin, and Instagram, as well as sign up for the company’s newsletters at www.worksport.com or investors.worksport.com. Worksport Ltd. strives to provide frequent updates of its operations to its community of investors, clients, and customers to maintain the highest level of visibility.
Active Positions
ACTIVE POSITIONS HOLDERS SHARES
Increased Positions 11 164,927
Decreased Positions 2 13,233
Held Positions 7 191,221
Total Institutional Shares 20 369,381
New and Sold Out Positions
ACTIVE POSITIONS HOLDERS SHARES
New Positions 4 113,452
Sold Out Positions 1 12,887
Total New Increased Decreased Activity Sold Out
20 Institutional Holders
369,381 Total Shares Held
OWNER NAME
DATE
SHARES HELD
CHANGE (SHARES)
CHANGE (%)
VALUE (IN 1,000S)
GEODE CAPITAL MANAGEMENT, LLC 06/30/2023 119,583 3,900 3.371% $374
SUSQUEHANNA INTERNATIONAL GROUP, LLP 06/30/2023 87,346 87,346 New $273
VANGUARD GROUP INC 03/31/2023 49,627 27,953 128.97% $155
STATE STREET CORP 03/31/2023 18,100 0 0% $57
NORTHERN TRUST CORP 06/30/2023 16,780 1,087 6.927% $53
SCOTIA CAPITAL INC. 06/30/2023 15,000 0 0% $47
CHARLES SCHWAB INVESTMENT MANAGEMENT INC 06/30/2023 13,921 13,921 New $44
VIRTU FINANCIAL LLC 06/30/2023 12,085 12,085 New $38
CITADEL ADVISORS LLC 03/31/2023 11,130 10,446 1527.193% $35
UBS GROUP AG 06/30/2023 9,828 7,817 388.712% $31
OSAIC HOLDINGS, INC. 06/30/2023 5,184 270 5.495% $16
TOWER RESEARCH CAPITAL LLC (TRC) 03/31/2023 3,457 -346 -9.098% $11
BLACKROCK INC. 03/31/2023 3,356 0 0% $11
HUNTINGTON NATIONAL BANK 06/30/2023 2,565 0 0% $8
ROYAL BANK OF CANADA 03/31/2023 675 0 0% $2
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BACK TO WKSP OVERVIEW
Institutional Holdings information is filed by major institutions on form 13-F with the Securities and Exchange Commission. Major institutions are defined as firms or individuals that exercise investment discretion, over the assets of others, in excess of $100 Million. Major institutions include financial holdings companies, banks, insurance companies, mutual fund managers, portfolio managers, self managed pension and endowment funds. The report is limited to equity securities, including common and equivalents, convertible preferred and convertible bonds. The report does not include fixed income, real estate, or cash equivalents. Reports are filed within 45 days after calendar quarter end with the vast majority of updates occurring near the 45th day of the quarter.
About Institutional Holdings
Nasdaq provides the ownership stake information in a company, including the number of shares held by those institutions in a firm, along with recent purchases and sales information.
Institutional Holdings information can be used to gauge the volatility and value on the company’s stock.
Worksport Announces Participation to Present at the H.C. Wainwright 25th Annual Global Investment Conference in New York Palace Hotel
https://investors.worksport.com/worksport-announces-participation-to-present-at-the-h-c-wainwright-25th-annual-global-investment-conference-in-new-york-palace-hotel/?_kx=MqkykWL_qJw-CsNkPngFyKXHLI-hRAVcjWqDkM1FY8g%3D.VLXbY8
He would have to file a Form 4. So, no, he's not selling shares. That would be very counterproductive at this point in his company's development. Now that guy that filed the 13G is a different story. No way to find that out though. There are most certainly more traders in this low floater now. Volatility will be high both ways.
JMO
Is it possible that Rossi is selling shares?
Who is selling this thing down the drain
Hey, guys looking pretty dead in here? Think we will continue back on an upward trajectory? Think we will start to see some revenues?
Plug in a 2YD and you'll see we're sitting at and getting ready to eclipse another support level. Would love to see this trend sideways in the 4.00 - 4.25 area until they start production. Then our 2nd Elliott will have been completed and we'll be ready to a run into the 5 - 6-dollar area. Check the chart for resistance in the 5.10 area and then again in the 5.85 area. Warrants kick in at 6.05. Once they ramp production in a couple weeks, we'll be ready to carry that 100M market cap!!
2YD...so easy to read and see where we're headed this year....
I’m very encouraged by the trade action. We are going up quickly but it feels much more real than anytime before! It looks like there are some people buying significant blocks. This is it. Positive news on solis/COR and we will be so golden we will be floating down from the heavens on the wings of an angel!
With positive news and the company moving forward the fact that the float for WKSP is only 13.67 million shares is very bullish. I am holding and waiting as good news could make these shares rocket. JMO. Good luck to all longs.
Heavy volume by WKSP standards. Would have been nice to see a positive close.
Does anybody know anything about the WKSPW shares? I acquired these back in august and September 2021 and honestly forget how I got them :)
Were they part of the reg-a fund raising they did around that time or perhaps related to the stock split? Any idea if they expire, are freely traded, or can be exercised for regular shares in some way?
Any info other long-time shareholders could provide would be appreciated. Thanks!
https://finance.yahoo.com/news/renault-worries-chinas-metal-export-161334097.html
Renault Worries About China's Metal Export Curb While Worksport Makes A Strategic Leap At Its U.S. Base
Europe and the U.S. have kicked into high EV gear but a "Chinese cloud" is looming over the EV sector. Last Saturday, Renault (OTC: RNLSY) Chairman Jean-Dominique Senard expressed his concerns to Reuters regarding Europe’s over-reliance on China, emphasizing the need for building a costly supply chain. Meanwhile, in the U.S., Worksport Ltd (NASDAQ: WKSP) has just announced it has made significant progress at its 220,000 square feet U.S. facility, continuing its way towards delivering its revolutionary Solis solar-powered tonneau cover and COR remote power storage system. Meanwhile, EV king Tesla Inc (NASDAQ: TSLA) told the Environmental Protection Agency (EPA) that the United States could go all-electric by the end of the decade, but it would settle for 69% of new car sales.
Toyota And Stellantis Believe The EPA Is Overly Optimistic
Toyota Motor (NYSE: TM) finds the EPA has underestimated key EV challenges, such as scarcity of raw materials out of which batteries are made, as well as the fact that that the U.S. is not either the mining or refining home to these minerals. There’s also the issue of the high cost of making EVs along with a developing infrastructure that is, at its current state, unable to support a wide EV adoption.
Stellantis (NYSE: STLA) also believes that EPA’s expection of EV market growth is too optimistic while assuming a ‘perfect’ transition and underestimating challenges such as lagging manufacturing capacity and the support for EV drivers.
Tesla Is Still Running The Show Although GM Promises To Catch Up
While US is still lagging behind other major markets in the contribution of EVs in total car sales, it’s certainly picking up pace going from 3% in 2021 to 5% in 2022, while expecting 8 to 10% this year. Without exaggeration, this was achieved mainly by Tesla who makes the most of EVs in the U.S. However, General Motors (NYSE: GM) CEO Mary Barra is confident the automaker would catch up to and surpass Tesla to become the top EV seller in the US, but after producing just over 39,000 all-electric vehicles last year compared to Tesla’s 1.4 million, GM seems to be aiming too high. But GM is going for the “EVs for everyone” strategy and not by going through the struggle of replicating of the company’s internal combustion engine portfolio. Rather, GM is going strategic with its EV approach by offering both affordable and luxury models, along with pickups and SUVs and therefore, covering every EV front. After adopting Tesla charging technology, or more precisely NACS chargers, GM provided its EV drivers with enhanced durability and reliability at across 25,000 stations across the U.S. instead of the current 13,000, making good on its promise.
The US is in great need for intense EV programs, and with the initiatives of the Biden administration, they are finally underway, coinciding with a wider consumer mindset shift in favor of an all-electric transportation future.
Renault’s Concern Due To China’s Recent Decision To Restrict Exports Of Metals
Asia has undoubtedly a superpower when it comes to essential raw materials that are used to build EV batteries. Renault Chairman Jean-Dominique Senard expressed his concern as China decided at the beginning of July to restrict export metals, more precisely, gallium and germanium, that are used in both EVs and semiconductors. However, empowered by its alliance with Nissan Motor Co Ltd (OTC: NSANY), as well as Mitsubishi Motors Corporation (OTC: MMTOF), and supported by its electrification expertise, Renault Group upgraded its full year 2023 outlook as it continues aiming for carbon neutrality by the end of the decade. But the bigger picture does seem scary as the China-U.S. technology war continues to escalate, possibly resulting in massive disruptions across global supply chains and therefore, hampering EV progress.
Worksport Transitions From Preparation Phase To Scaling Of Production
With production expected to start in the upcoming weeks, Worksport announced this week it has made significant progress in its operational developments as its skilled and diligently selected staff undergoes the final phase of training with validation processes kicking off with its new U.S. tonneau manufacturing line. Over the following few weeks, a pivotal moment of Worksport’s growth journey is on the horizon as its cutting-edge hard folding tonneau covers go into production. Its U.S. state of art facility is a testament of Worksport’s commitment to U.S. home-grown innovation, product quality and excellence. Worksport's innovative portfolio holds big promises for both automotive and the EV industry, with Hyundai Motor Company (OTC: HYMTF) being among the first to equip its Santa Cruz pickup with its customized Solis solar-powered tonneau cover. In other words, Worksport is setting the stage for a strategic leap in its business operations, marching on towards boosting revenue growth and increasing shareholder value along the way.
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
Looks like a smart investor has executed warrants and stock options...
https://www.sec.gov/Archives/edgar/data/1096275/000149315223024554/formsc13g.htm
WKSP Great news today. I told you all I will never complain as long as revenues are coming in!!!
While Lucid's EV Isn't Going As Planned, Worksport Receives Substantial Orders
https://finance.yahoo.com/news/while-lucids-ev-isnt-going-161432886.html
The best part about this news is that they have the product in inventory for immediate shipment. And, this is above and beyond the soon to be announced hard cover deal with a national retailer! Q3 is off to a nice start eh! If they can get these hard covers rolling, we will be seeing 7-digit sales quarters...if not eight!!
Worksport Announces Strategic Partnership with McAllister & Quinn Set to Propel Federal Grants Acquisition and Strengthen Government Relations
Worksport Opens State-of-the-Art R&D Facility in Springfield, Missouri, Paving the Way for Market Innovations
Happy 4th Weekend (and Canada day :()) Lets get the energy up on this board!!! Any report from Rossi on sales? Buckyboy can you tell some stories about what (WKSP) sales were like "back in the day"?
It's not that much $$$ and it is completely realistic even if we are only firing on a couple cylinders. Revenues are all I have wanted to see for years (3) now with WKSP and they have proven to be the most illusive. No more excuses or half assed execution!!!
1 analysts offering their estimates for the company have set an average revenue estimate of $600k for the current quarter. 1 have an estimated revenue figure of $1.6 million for the next quarter concluding in Sep 2023. Year-ago sales stood $11k and $18k respectively for this quarter and the next, and analysts expect sales will grow by 5,354.50% for the current quarter and 8,788.90% for the next.
https://marketingsentinel.com/2023/06/19/worksport-ltd-wksp-is-another-fantastic-bargain-stock/
(If they can actually get production ramped up by middle Q3 these numbers are certainly possible. 600K for current Q is not realistic IMO. 1.6M for Q3 is absolutely on the table. GLTA)
Great info, seems like a good step!!!
This action by WKSP management, while mundane on the surface to many, is critical for conducting business with many, if not all large companies. It is also necessary for international business. It shows that customers can expect consistent high-quality product from WKSP.
This is important. They'll get it done. My experience says 2 - 3 months (if that).
Richmond Hill, Ontario, Canada, June 20, 2023 (GLOBE NEWSWIRE) -- Worksport Ltd. (Nasdaq: WKSP; WKSPW) (the “Company” or “Worksport”) is excited to announce that it plans to apply for ISO 9000 certification, an internationally recognized standard for quality management systems, for its wholly owned 220,000 sq. ft. Western N.Y. manufacturing facility. With a new manufacturing line in the test and training phase, the Company expects soon to deliver its innovative, industry-leading light truck tonneau covers and later manufacture its groundbreaking SOLIS solar tonneau covers, designed to work with COR, Worksport’s newly improved hot swap battery system.
Worksport believes it can qualify for ISO 9000 certification based on its strict quality policy, defined by the Company’s CEO, Steven Rossi. “At Worksport, we strive to build long-term, positive customer experiences around our products and services,” Rossi said. “We aim to surpass customer expectations and continually pursue perfection while adopting a zero-defects mentality.”
Achieving ISO 9000 certification is difficult and is a significant accomplishment in and of itself. For the certification, a review is performed by an independent organization that assesses conformance to ISO requirements. ISO inspectors will examine Worksport’s key procedures, such as management, design, quality, manufacturing, and supplier control. The latest ISO standard also emphasizes management and decision-making based on risk, opportunities, and the use of a process approach in overseeing its activities.
“Quality has always been a management obsession at Worksport,” Rossi said. “Since inception, our goal has always been to produce the highest quality products, with clear, effective processes and defined roles and responsibilities for all employees. Our devotion to having and maintaining high standards has been efficient, ensuring the Company has the right systems and resources to respond to our customer’s needs quickly.”
https://www.pjrcert.com/standards/iso-90012008/benefits-of-iso-9000#:~:text=The%20goal%20of%20ISO%209000,quality%20of%20processes%20and%20products.
Happy Fathers Day to all!!! Keep up the great work. Let's get those belts moving and revenues pouring in!!! As the board MOD I can't thank you all enough for keeping posts professional and energized!
Not a very informative article, but it is nice to see the community support, that can come in handy. I would like to see WKSP firing on all cylinders (or max amps). Productions in China, Production in US, Energy products, Canadian bullcrap projects, partnerships. Something, anything. Are we still doing heatpumps?
Really great posts guys keep up the GREAT WORK!!!!
Great find CharlieV! I hate pay walls. Rossi keeping potential massive news under his sleeve a bit. 100K units!
Maybe SOLIS will go mainstream after all. If it does, then we're looking at a 20 dollar (or more depending on capital structure) stock.
JMO
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