NU Ride Inc (NRDE)

[Saving Grace]

Big things being planed with LandX. Lawsuit Finalizing IMO

Activity on Lordstown Motors LinkedIn account. Great News!

I just saw this on my LinkedIn feed. It seems that the LMC LinkedIn account has "Liked" a post by Amerit Fleet Services from just 4 days ago.

Who has access to this account, and why would they like a post by Amerit?

I understand that just prior to bankruptcy they announced Amreit would be providing fleet support for Lordstown customers, but since that never developed, why the interest? Why do they care?

The closing of the transactions contemplated by the LandX Asset Purchase Agreement occurred on October 27, 2023, at which time the Purchaser acquired substantially all of the assets held for sale of the Debtors related to the design, production and sale of electric light duty vehicles focused on the commercial fleet market free and clear of liens, claims, encumbrances, and other interests, and assumed certain specified liabilities of the Debtors for a total purchase price of approximately $10.2 million in cash.

The Lordstown LinkedIn account is an asset of it's own and just judging by what the account has recently liked, it should be apparent that the account owner is very much still engaged in the "sale of electric light duty vehicles focused on the commercial fleet market."

The account will likely see a rebranding soon enough

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I thought the company was just going to be a holding company, to hold the assets while he tried to find an OEM that would build vehicles for him. But he actually hired a large number of employees from LMC, Foxconn and elsewhere. They are even hiring!

I have no idea how he thinks he will be able to build anything.

In the lawsuit against Foxconn, LMC claimed "billions" in damages. If they actually win and get awarded near that, I would think Foxconn would turn the plant back over to them. If they got the plant back, and a good amount of cash, who knows what could happen?

It just seems weird that not only is Burns talking like he's going to be able to build vehicles, he's actually spending money on employees. That seems very weird to me

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