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Alpha version of COR imminent. Additional manufacutring facility being built in China. Additional mfg space has soft approval in West Seneca. Hitting the road with awesome hard/soft covers to expand their sales channels. Heat pump moving along with potential partnrships this year. SOLIS is ready to roll once COR is available. Hyundai still working with WKSP.
At some point this year this stock is going to blow up bigly.
Steven Rossi
@StevenRossiWKSP
·
22h
Replying to
@Bob30112609
1 - SOLIS isn’t delayed we should start seeing them roll off the line shortly. Delays from the turmoil in the east (solar panels are made in India for now), but we have no control over that.
COR continues to accelerate; proud it’s not made in China.
Steven Rossi
@StevenRossiWKSP
·
22h
Replying to
@Bob30112609
2 - After COR initial launch it goes to sales development; 2B and 2C. Then we have big plans for off grid home energy systems as well as smaller, more powerful portable power. But it’s always ‘one foot in-front of the other’
Nice news today. New hard cover looks sweet. Should be a great seller. Made in the USA.
Institutional ownership of the float is now over 10 percent. Not bad for a startup.
We may have to temper sales expectations for the final Q of 2023. It should be good, but maybe not seven digits good. Why? Rossi has indicated soft cover sales are going strong (we have no idea what he considers strong) and he has indicated publicly that they continue to make improvements to their hard covers for their existing customers. This translates to production downtime to me. I'm sure whatever changes they make are simply part of a continuous improvement culture with their company and their customers. It will most assuredly lead tomore robust sales moving forward and more contracts IMO. But, with respect to the final Q 2023 we may see similar results to the prior Q (around 500K - 750K). That will make for another great sales growth headline as they compare Qs YOY. He did indeed indicate WKSP would do minimum16M 2024. We shall see.
Steven Rossi
@StevenRossiWKSP
·
18h
Replying to
@Bob30112609
We have the two lines and staff available for them but are making running improvements to the product so we want to ramp concurrent with the improvements. We will likely grow to second shift first then 3 lines. 1 line = 70-100 covers per shift. 2 day and 1 night shift is first
Looking for 1.2 - 1.5M in sales final Q. Their selling price (B2B) to their big buyer is 335 per cover as of a few days ago. They say they can get 70 covers daily off their first line and now have staffing in place for their second line.
Hopfully we see doubles in revs Q over Q for the next severas Qs. Looking for 20 - 30M target for 2024. (JMO)
IMO COR/SOLIS will not be ready for for full scale manufacture until the end of 2024. Basically Rossi is saying Alpha test units heading ou the door Q1. This will take many weeks once they're out there. Then the BETA tests (assuming they're doing a BET after Alpha). Many more weeks. If everything goes smooth then maybe BETA is done by the end of Q2 (again just my WAG). It's great that they have a manufacturer lined up for COR!
Rossi says soft cover sales are strong (imply whatever you want here).
Anyway, nowhere to go but up if Rossi and his R&D team can actually get COR out the door!!
We shall see.
Happy holidays....
Steven Rossi
@StevenRossiWKSP
·
16h
Replying to
@Bob30112609
I think we need to look at scaling. But, testing won’t be six months. I’d say end of Q1 we have launch and then scale thereafter. The scale will be annually.
(This is regarding COR testing/launch)
This PR was sent ot on 19 Sept 2023. Everything depends on the current cover output from West Senece (except for soft covers of course which come out of China). This being said, one would hope that they've shipped a significant amount of covers in the last two months.
I was told a few weeks ago that they were producing between 50 - 70 covers at W.. Seneca with a goal of 200 per ay by the end of this year. You know how projections go with this company eh! Who knows.
If they're producing anything close to what they've told us then I think minimum 500K for Q3 may be possible. It all depends when and how they book their revs.
19 Sept 2023 PR snippet
WEST SENECA, NY / ACCESSWIRE / September 19, 2023 / Worksport Ltd. ("Worksport" or the "Company") (Nasdaq:WKSP; WKSPW) announces it has secured a long-term supply agreement with an established, leading automotive aftermarket reseller in the U.S. Under this agreement, Worksport is on track to earn an estimated $16,000,000 USD in annual sales of its advanced hard-folding and soft-folding covers, from this single customer. While estimated sales of $16 Million USD are based on the customer's forecast on an annualized basis, this estimate does not include the customer's expectations of year-over-year growth in sales. The agreement resulted from samples that were provided to and approved by this customer previously. This significant step follows the recent start of manufacturing at Worksport's Western New York-based facility after receiving a robust $1.6 million order for its hard-folding covers and an additional $720,000 order for the soft-folding versions, both from the same customer.
WKSP
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Worksport Ltd
Tue, October 24, 2023 at 5:00 AM PDT·7 min read
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Worksport Ltd
West Seneca, New York, Oct. 24, 2023 (GLOBE NEWSWIRE) -- Worksport Ltd. (Nasdaq: WKSP; WKSPW) (“Worksport” or the “Company”) is pleased to announce that its subsidiary, Terravis Energy, Inc. (“Terravis Energy”), has increased R&D for its Cold Climate Residential Heat Pump, which is also a cooling product, due to expected large-scale growth in the North American and global markets.
An air source heat pump, such as the one Terravis Energy is creating, utilizes the phase change of a special fluid to transfer heat. When heating your home, the pump takes heat from the outdoor air and uses the phase change from liquid to gas to bring that heat indoors. When cooling, it employs the opposite phase change, from gas to liquid, to move heat from inside your home to the outside.
“Most North American households depend on fossil fuel-powered central furnaces, which generate and blow air through duct systems,” said Terravis Energy CEO Lorenzo Rossi. “These systems generate a yearly estimated average of 6,400 pounds of carbon dioxide per household, a greenhouse gas, and are the third largest contributor to carbon emissions worldwide. Future generations, however, will be able to heat and cool their homes with zero-emission, sustainable clean energy, thanks to cold climate heat pumps like the Terravis system.”
The Company is very excited to expand its heat pump R&D team concurrently with massive increases in worldwide growth forecasts, including a North American market size currently estimated at US$7.3 billion with a projected 9% annual growth rate between 2023 and 2032, reaching US$24 billion by 2028. Globally, the market for residential heat pumps is expected to reach US$121.5 billion by 2032. According to Lorenzo, this highly encouraging market expansion is stimulated by two primary factors: (1) ongoing governmental initiatives and incentives to reduce carbon emissions and (2) a growing consumer demand for energy-efficient, clean and sustainable heating and cooling technologies.
In addition, many localities are banning future installation of gas-powered stoves, furnaces, and propane heating, effectively requiring the use of climate-friendly appliances such as heat pumps and induction stoves in many new construction residences. This year, New York was the first state to ban natural gas and other fossil fuels after 2026 in most new residential buildings. Previously, cities have led the way. In 2019, Berkeley, California became the first U.S. city to pass a code banning natural gas hookups in new buildings. Other cities, including San Francisco in 2020 and New York City in 2021, quickly followed suit. Globally, the International Energy Agency recommends that “no gas boilers should be sold after 2025, if net-zero targets are to be realized.”
“The Terravis heat pump is the right product at the right time in a very appealing large worldwide growth market,” said Worksport CEO Steven Rossi. “It represents something major for Worksport as we expect to introduce further energy-based products, including the SOLIS solar truck bed cover and its companion COR hot swap battery system. Developing and marketing the Terravis heat pump is expected to be a first step in the transition to an all-energy enterprise that assists consumers with off-grid solutions ranging from pickup trucks to zero-emission heating and cooling. It’s another example of how Worksport and Terravis continue to outpace expectations across the board. We anticipate that the heat pump will be a great addition to our arsenal of clean and sustainable consumer products.”
As always, Worksport will continue to update investors and shareholders on our progress with all products as soon as information is available.
For further information, please visit Worksport’s official website for investors at investors.worksport.com.
About Worksport
Worksport Ltd. (Nasdaq: WKSP; WKSPW), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property 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 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
Steven Rossi
@StevenRossiWKSP
·
8h
Costing is difficult to publicize since we’re watched closely. But it’s a 9-figure factory in any event.
Steven Rossi
@StevenRossiWKSP
·
3h
Replying to
@Bob30112609
First target is 3 cells, lines by mid Q1. The rest will be scoped once we’re closer to first target
Cut the selling price to 310 for the FC4 as indicated in Rossi's most recent presentation rather than the 800 I used. PPS is greatly dependent on Q3 report (due Nov 15th) and any positive updates on SOLIS/COR and other R&D developments ready for market this year or Q1 2024. All JMO
Steven Rossi
@StevenRossiWKSP
·
5h
Right now we’re hovering 50-70 and target for this year is 200 (all daily). Next year we ramp from 200 -> 1,000 by end of year. The amount of engineering required for all of this is mind boggling. But fun.
(if we assume a middle ground here and go with 300 hard covers weekly at a selling price of 800 bucks we're looking at a 3M dollar Q to end the year. This doesn't include sales of soft covers.) We shall see....
WKSP chart has now broken the 200 EMA. Next target is 2.20, then 2.00, then 1.85ish. All news events have been great and the company is moving forward rapidly now. Future looks very bright even in the face of a late year decline in the PPS momo.
WKSP clearly has a bigger seller at the moment. My guess is it's the 13G filer taking some profits. He reported holding 1.775M shares via a 13G. Not really sure any other entity holds enough shares to create a downtrend like we're witnessing.
The stock has hit the 200EMA at 2.45. I see next support at 2.20. Many indicators are bottomed outnow and show oversold.
Nothig but positive news coming out of the company. Gret sales contracts and potentially a brand new green offering for the residential sector to be announced by the EOY (maybe). Tons of interest in COR/SOLIS from OEMs.
Buy em while they're cheap.
JMO
Great news Charlie! And it's only just beginning. They're already adding an additional 70K
square feet of processing space to their West Seneca facility. Automation that will be
installed has this company earmarked to become a small cap growth story. Multiple versions
of COR being developed for the markets. Gross revs of at least one dollar per share operating
expenses! Buy and hold eh!
Worksport Advances Towards the Launch of SOLIS Solar Cover with Innovative COR Battery System
https://finance.yahoo.com/news/worksport-advances-towards-launch-solis-120000103.html
Love the chart in Rossi's presnetation that describes short- and long-term revenues based on current interest from potential and exiting customers.
Hyundai is clearly not the only big OEM interested in SOLIS/COR.
Company currently working on a 70K square foot expansion!
Some warrants priced at 4 bucks as well as 6.05. Could be a source of funding for the company.
The picture displayed of the Santa Cruz with a SOLIS cover looks really sleek. Hyundai also working on a small picjup truck to compete with the likes of the Ranger.
Great presentation by Rossi IMO.
Worksport Announces Participation to Present at the H.C. Wainwright 25th Annual Global Investment Conference in New York Palace Hotel H.C. Wainwright & Co. is hosting its 25th Annual Global Investment Conference, which is being held September 11-13, 2023.
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
SHARE POST
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
1
2
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.
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
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....
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.
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!!
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)
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.
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