Volcon Inc (VLCN)

[linkvest]

Three Months
Ended Nine Months
Ended

September 30,

2023


September 30,

2022


September 30,

2023


September 30,

2022



Revenue $ 487,430 $ 242,710 $ 2,177,188 $ 3,795,065
Cost of goods sold (3,542,468 ) (2,012,829 ) (5,107,096 ) (11,549,871 )
Gross margin (3,055,038 ) (1,770,119 ) (2,929,908 ) (7,754,806 )

Operating expenses:
Sales and marketing 1,870,532 1,282,014 6,040,519 3,942,827
Product development 2,983,197 2,177,347 5,936,280 6,775,768
General and administrative expenses 1,544,344 2,085,211 5,003,135 7,409,601
Total operating expenses 6,398,073 5,544,572 16,979,934 18,128,196

Loss from operations (9,453,111 ) (7,314,691 ) (19,909,842 ) (25,883,002 )