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AYRO Inc

AYRO Inc (AYRO)

0.77
0.0045
( 0.59% )
Updated: 11:04:53

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Monksdream Monksdream 5 months ago
AYRO new 52 week low
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Monksdream Monksdream 5 months ago
Whoops, I did it, again
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Monksdream Monksdream 5 months ago
AYRO new 52 week low
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Monksdream Monksdream 7 months ago
AYRO new 52 lo
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Monksdream Monksdream 7 months ago
AYRO new 52 lo
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Monksdream Monksdream 1 year ago
AYRO new 52 week low
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Monksdream Monksdream 1 year ago
AYRO new 52 week low
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Monksdream Monksdream 1 year ago
AYRO new 52 week low
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conix conix 2 years ago
Chart--time for a bounce?

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TheFinalCD TheFinalCD 3 years ago
https://finance.yahoo.com/news/ayro-report-end-2021-financial-120000658.html
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BottomBounce BottomBounce 3 years ago
Must See $AYRO
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lukin4winners lukin4winners 4 years ago
AYRO 80% revenue increase!!

https://finance.yahoo.com/news/ayro-announces-end-2020-financial-110000767.html
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Milo1 Milo1 4 years ago
Added big today!
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Porterhouse10 Porterhouse10 4 years ago
Looking to add here
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Golden Cross Golden Cross 4 years ago
Added some down here for a rebound
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Jess070283 Jess070283 4 years ago
Took a starter!$$$$ Double digits next week?$$$
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Tower of Hanoi Tower of Hanoi 4 years ago
I like it at $6. GL to all.....
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Un1corn Un1corn 4 years ago
This review will help Mondays price action
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peterus peterus 4 years ago
think we will see a run ah today and
gap up tmrw
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Billionair3TurtleN3ck Billionair3TurtleN3ck 4 years ago
Only thing good about AYRO is you can count on it to follow SOLOs gain. Seems to correlate each swing. Bang bang skeet skeet. Babbbyyy
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Golden Cross Golden Cross 4 years ago
Great day $7+ AH's
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Golden Cross Golden Cross 4 years ago
About ready for a bounce here... EV strong going into next year


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BottomBounce BottomBounce 4 years ago
$AYRO https://www.businesswire.com/news/home/20201117005363/en/Kandi-America%E2%80%99s-Electric-Vehicles-Eligible-for-2500-Rebate-in-Texas
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creakyhottie creakyhottie 4 years ago
Mon, December 14, 2020, 4:15 PM EST
DENVER, Dec. 14, 2020 /PRNewswire/ - CIBC (NYSE: CM) (TSX: CM) today announced that the CIBC Atlas Clean Energy Index (the "Index") rebalance following close of business on December 18, 2020, will result in changes to the Index as follows:

Constituents to be added

Greenpower Motor Company, Inc (Ticker: GP)

Beam Global (Ticker: BEEM)

Ayro, Inc (Ticker: AYRO)

Infrastructure and Energy Alternatives, Inc (Ticker: IEA)

There will be no constituents removed from the Index.

Constituent additions to and deletions from the Index do not reflect an opinion by CIBC U.S. Private Wealth Management on the investment merits of the respective securities. For further information, please contact CIBC U.S. Private Wealth Management at 720.221.5000.

About CIBC
CIBC (NYSE: CM) (TSX: CM) is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients. CIBC offers a full range of advice, solutions and services in the United States, across Canada and around the world. In the U.S., CIBC Bank USA provides commercial banking, private and personal banking and small business banking solutions and CIBC U.S. Private Wealth Management offers investment management, wealth strategies and legacy planning. Visit us at cibc.com/US.

Private banking solutions are offered through CIBC Bank USA, Member FDIC and Equal Housing Lender. CIBC Bank USA and CIBC Private Wealth Group, LLC are both indirect, wholly owned subsidiaries of CIBC. CIBC Private Wealth Group and its subsidiaries do not provide, and are not responsible for, the products and services offered by CIBC Bank USA. CIBC Bank USA (Bank) will not pay employees of CIBC Private Wealth Group or its subsidiaries for referring clients to Bank, but to the extent permitted by applicable laws and regulations, the referral of clients to Bank for eligible products or services may be considered by CIBC Private Wealth Group in determining discretionary compensation to employees. The CIBC logo is a registered trademark of CIBC, used under license. Investment Products Offered are Not FDIC-Insured, May Lose Value and are Not Bank Guaranteed.
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gp22 gp22 4 years ago
TPII @ .05: Spree Electric Vehicle....Taking direct aim at AYRO..Link.

Spree EV: AYRO direct competition TPII @ .05....Float 16M.
https://triadproinc.com/spree/
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creakyhottie creakyhottie 4 years ago
AYRO, Inc. (Nasdaq: AYRO) ("AYRO" or the "Company"), a manufacturer of light-duty, urban, and short-haul electric vehicles (EVs), today announces that management will participate in the Benzinga Global SmallCap Conference on December 8-9, 2020.

Chief Executive Officer Rod Keller will deliver his corporate presentation at 4:45 p.m. ET on December 8, 2020 and participate on the EV Panel being held on December 9, 2020 at 2:35 p.m. ET. The panel will discuss the changing EV climate in the U.S., the potential impact of the Biden administration on the EV sector, the charging infrastructure in the U.S., pricing dynamics of EVs, and other matters pertinent to the EV landscape.

Mr. Keller will also be available for one-on-one investor meetings. Those interested in scheduling a meeting with management should contact AYRO's Investor Relations at investors@ayro.com.

Investors can register for the conference for free in order to gain access to the full conference agenda and listen to the presentation and EV Panel: https://events.benzinga.com/registration-page.
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creakyhottie creakyhottie 4 years ago
From Seeking Alpha

Summary

Ayro once again has gained a bid, with the stock recently soaring to a 52-week high of $10.60.

It has been riding the increasingly bullish sentiment associated with the EV sector.

The company is attempting to carve out a unique niche in the space, especially in the EV delivery segment.

The question going forward is if the company will be able to generate sustainable growth in a sector where competition is heating up.

ayro has a great future ahead of it in the EV niche it serves in

Over the last 5 months, Ayro (AYRO) has had a lot of volatility, jumping from around the mid-$2s on June 26, 2020, to about $7.29 on July 8, before it started an incremental downward move that bottomed out in the $2.50s on September 16.

After that, it consolidated through November 11, trading in a range of around $2.50 to a little over $3.00 per share. From there, it once again took off, eventually reaching a 52-week high of $10.60 per share, primarily riding the positive outlook for industry leader Tesla (NASDAQ:TSLA).

In this article, we'll look at how the company is attempting to differentiate in the increasingly crowded space, and if it has the potential to generate sustainable growth over the long term, taking into account the company has only had two earnings reports since going public.

Latest earnings

With the company just getting going, its revenue in the third quarter came to $388,634, an increase of 46 percent year over year. Most of that came from an increase in vehicle sales.

Net loss for the third quarter was $3.11 million on a GAAP basis, or negative $0.13 per share, against the net loss of $2.14 million in the same quarter of 2019, or negative $0.77 per share in the third quarter of 2019.

The company increased the weighted average number of shares outstanding from 2.8 million in the third quarter of 2019, to 23.6 million in the third quarter of 2020.

Gross margin in the reporting period fell to 15.9 percent, against the 23.9 percent in the same reporting period of 2019. That was attributed to a one-time cost related to first production runs.

Sales and marketing expenses in the third quarter dropped by 29.5 percent from last year in the third quarter, finishing the quarter at a little over $304,000. Most of that was a result of cutting back on contracting of external marketing companies.

Concerning Research and Development expenses, that were up to $664,000, an increase of 123 percent year over year. That was "due to the increased professional services, design contracting and increased salaries dues to staff additions and related expenses as we've increased significantly the engineering base investment in our product portfolio."

I do like the fact the company is allocating more of its capital in the R&D segment of the company. It can always increase spending on sales and marketing as it further develops its pipeline.

General and administrative expenses ended the reporting period at $1.42 million, up 5 percent over last year in the third quarter.

Non-GAAP adjusted EBITDA in the quarter was a negative $2.09 million, against the negative $1.9 million year over year. That included "$150,000 in depreciation and amortization expense, $168,000 in stock-based compensation, $67,000 in amortization of a discount on debt, $29,000 in interest expense and $214,000 in loss on extinguishment of debt discount."

As of September 30, 2020, the company had about $27.9 million in cash, far above the $641,000 it had at the end of 2019, and the $7.9 million it had at the end of June 30, 2020. The increase came from registered direct offerings, a merger that closed on May 28, 2020, and the exercise of some warrants.

On November 23, the company reported it had raised another $10 million via another registered direct offering, which included 1,650,165 shares of common stock offered at a purchase price of $6.06 per share.

AYRO's Chief Executive Officer Rod Keller said this about the capital raise:

We believe that this strategic investment by Wanxiang and existing investors is a testament to our future potential. With this support, we plan to continue to build strong fundamentals, expand production capacity beyond our current 600 cars per month, drive stronger market penetration, and position AYRO to meet ever growing demand with a variety of EV products across our value chain. In particular, we believe that this capital can help us drive growth with our partners and customers that include Karma, Club Car, and Gallery Carts, among others.
At the end of September 30, 2020, the company had a backlog of orders valued at $624,000.

Its vehicles

Ayro has two vehicles it offers at this time: the Club Car 411 and AYRO 311. We'll look first at the Club Car 411, which is its light-duty truck.

The Club Car 411

the club car 411

The Club Car 411 is marketed on the company's website as "a compact all-electric vehicle designed for your campus." It's positioned as an offering between a full-sized truck and a small utility cart.

An interesting part of the Club Car 411 is customers can choose between three bed options based upon what is needed. There are choices between "a flatbed, pickup configuration with side, or a full van box with 123 square feet of cargo room and a half-ton payload capacity."

It is marketed as being attractive for use in low-speed logistics and cargo services.

The AYRO 311

the ayro 311

Ayro touts its 3-wheeled vehicle as the first of its kind. It definitely has a compelling and attractive look to it. This vehicle probably has far more uses for it in different circumstances and situations than the Club Car 411, so it is likely to drive more sales, although I could see them complementing one another at certain campuses or businesses, and probably even homes.

If it becomes a status symbol, it would almost certainly exceed sales expectations once the company is able to ramp up production.

Among the many uses suggested by the company on its website are parcel/mail delivery, security, public safety, cargo delivery, food delivery, parking enforcement, and personal use.

Among the institutions or businesses they would appeal to are education, corporate campuses, hotels & resorts, government areas, and food/beverage/retail, among others. One strong benefit would be the ability to travel in areas that have narrow passages and walkways. Looking at the customer base it's targeting, it's easy to see that COVID-19 could significantly reduce its pace of growth until current restrictions - which are at this time a moving target - are lifted or reduced.

Longer term, I do like how management is focusing on maintaining a strong balance sheet, even though it has had to increase dilution as a means to that end.

In the EV sector, most investors aren't overly concerned about dilution as long as the company shows it has a product, a market to sell it to, and the ability to grow sales.

Assuming it can continue to differentiate and win business at the various businesses and institutions it's targeting, Ayro could be on a nice, long-term growth trajectory, as the impact of the pandemic gradually dissipates.

Conclusion

Ayro Inc. has done a lot of things right and has positioned itself to carve out a nice niche in a variety of business sectors.

The question ahead is how long it'll take for the pandemic to subside to the point the businesses and institutions it is targeting are, for the most part, opened up for business.

For now, it's getting a nice boost from its focus on the business of delivery, but there are a lot more opportunities that'll come once a lot more customers are frequenting the various locations it's targeting. In other words, there'll be a lot more internal deliveries once more people are at work, school, or play.

Going forward, it appears some of the decentralization that accompanied COVID-19 will remain in place, and that means there will be delivery options to consumers, as well as businesses and campuses. The opportunities are only going to increase for Ayro in the months and years ahead. One thing it'll have to do is to wisely and efficiently allocate its capital in a way that balances R&D, sales and marketing, and boost its production capacity.

Something CEO Rod Keller said in its last earnings report gave me a lot of optimism concerning the potential of Ayro, in that it isn't attempting to design and produce a type of multi-purpose vehicle in this segment of the EV market, rather he considers the company to be in the delivery business, with the purpose of building vehicles to serve that end.

He said this:

So we're working from the ground up to ensure that we build a vehicle that solves a specific problem and not trying to build a general-purpose vehicle and I think as a result of that, you'll see from us I think a vehicle that will likely be accepted very well by restaurants and other delivery applications. So, hope that helps.
If the company maintains its vision and disciplines itself to continue on this course, I think it has a terrific chance to build up some nice market share over the long term.

If it successfully brands itself in this way, when it has enough production capacity, sales, and capital to scale, it should be able to accelerate and scale its growth.

It's going to take time, but Ayro really does have a good chance to do well in the segment of the EV market it has chosen to compete in.

Patient investors should reap nice returns, and day and swing traders will do well by playing the volatility.

For long-term investors, waiting for good entry points is the key, and with the potential of the company, I wouldn't be afraid to average down if you got in at a higher price point.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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food4thought food4thought 4 years ago
Thankfully I got out at $9.61. Missed the tippity top but glad to exit. Held thru the last dilution and have been holding under water prior to this run up. Got lucky. Made a couple Gโ€™s now on to the next. Adding LCA and KCAC on pullbacks.
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SmittyInvestor SmittyInvestor 4 years ago
Dilution and Dump is on. Company does a bad money deal, they pumped up SP then forgot current shareholders, dilutes the shares, offers warrants which will be executed quickly for more dilution. These shares & warrants will be flipped quickly. Then chinese company will take any info to china to begin making the same products which will be back here competing with ayro in six months. Mgmt blew it. Predicting this will be back to $100 mil cap / $4 stock until mgmt thinks long term and works for the company & shareholders instead of lining their own pockets as well as the brokers who did the deal.
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ClayTrader ClayTrader 4 years ago
* * $AYRO Video Chart 11-23-2020 * *

Link to Video - click here to watch the technical chart video

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creakyhottie creakyhottie 4 years ago

AYRO Announces $10M Registered Direct Offering Priced At-The-Market Under Nasdaq Rules; Includes Sale Of 1,650,165 Shares At $6.06/Share
Today 9:03 AM ET (Benzinga)Print
AUSTIN, Texas, Nov. 23, 2020 (GLOBE NEWSWIRE) -- AYRO, Inc. (NASDAQ:AYRO) ("AYRO" or the "Company"), a manufacturer of light-duty, urban, and short-haul electric vehicles (EVs), today announces it has entered into definitive agreements with Carnegie Hudson Resources, an investment arm of Wanxiang America, and several existing institutional investors.


Wanxiang America is a subsidiary of Wanxiang Group, a Chinese conglomerate and owner of Karma Automotive and A123 Systems, a developer of EV batteries and supplier to automotive manufacturers worldwide. Karma recently signed a strategic manufacturing, engineering and design partnership with AYRO.

Terms of the offering include the sale of approximately 1,650,165 shares of the Company's common stock, at a purchase price of $6.06 per share, in a registered direct offering priced at-the-market under Nasdaq rules. AYRO has also agreed to issue to the investors unregistered Series A warrants to acquire approximately 1,237,624 shares of common stock at $8.09 per share, exercisable immediately and terminating six months after the date of issuance, and unregistered Series B warrants to acquire approximately 825,083 shares of common stock at $8.91 per share, exercisable immediately and terminating five years after the date of issuance. The closing of the offering is expected to occur on or about November 24, 2020, subject to the satisfaction of customary closing conditions.

The gross proceeds to AYRO from this offering are expected to be approximately $10.0 million, before deducting placement agent fees and other offering expenses. The Company intends to use the net proceeds from this offering for manufacturing, production, operations, product portfolio market expansion, and general working capital.

The shares of common stock (but not the warrants or the shares of common stock underlying the warrants) are being offered by AYRO pursuant to a "shelf" registration statement on Form S-3 (File No. 333-227858) previously filed with the Securities and Exchange Commission (the "SEC") on October 16, 2018 and declared effective by the SEC on November 8, 2018. The offering of the securities will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the shares of common stock being offered will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC's website at http://www.sec.gov.

The warrants described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act"), and Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants, have not been registered under the Act, or applicable state securities laws. Accordingly, the warrants and underlying shares of common stock may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Act and such applicable state securities laws.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

Spartan Capital Securities, LLC & Palladium Capital Group, LLC acted as advisors to the offering.

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Golden Cross Golden Cross 4 years ago
EV Makers AYRO, Karma Team up to Manufacture_Delivery_Vehicles

Link
https://www.usnews.com/news/technology/articles/2020-09-29/ev-makers-ayro-karma-team-up-to-manufacture-delivery-vehicles
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Golden Cross Golden Cross 4 years ago
$AYRO Looking for new all-time highs next week..


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AgeOfReason AgeOfReason 4 years ago
Headline: "Top Performing Stocks Under $10 This Past Week: Ayro Rises" (see https://www.thestreet.com/investing/best-performing-stocks-under-10-sunworks-fuelcell-ayro-phoenix-tree )
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AgeOfReason AgeOfReason 4 years ago
I watched the video at the older board a moment ago (at https://investorshub.advfn.com/boards/read_msg.aspx?message_id=156173370). AYRO is very interesting. I'm thinking of buying it.
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AlphaStockNews AlphaStockNews 4 years ago
$AYRO is the next big EV play! https://alphastocknews.com/ayro-inc-ayro-stock-is-the-next-big-ev-play/4771/
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Jess070283 Jess070283 4 years ago
Pile in shorts... so we can squeeze you.$$!
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food4thought food4thought 4 years ago
Y doe? Whatโ€™s causing this volume and move? I canโ€™t find any news on it?

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Frizzizle Frizzizle 4 years ago
Those were rocket ship emojis because $AYRO is going to the mooonnn
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Frizzizle Frizzizle 4 years ago
??????????
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Golden Cross Golden Cross 4 years ago
Nice looking chart... $AYRO


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conix conix 4 years ago
AYRO Chart

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conix conix 4 years ago
TSLA Lite? LOL

Ticker: AYRO
Price: $2.68
Mkt. Cap:$65 million

About AYRO, Inc.

Texas-based AYRO, Inc. designs, engineers, and produces purpose-built electric vehicles (EVs) to enable sustainable fleets. With rapid, customized deployments that meet specific buyer needs, AYROโ€™s agile EVs are an eco-friendly and cost-saving alternative to gasoline vehicles for microdistribution. Versatile enough for any microdistribution task, AYRO EVs can be found serving food on cutting-edge university campuses, supporting local delivery for restaurants, or moving goods and equipment around government or corporate campuses, hospitals, hotel resorts, sports stadiums, and airports. With a quality-focused, sustainability-minded approach to commercial micromobility, AYRO is spearheading the localized transition to EVs across a variety of market segments and needs. AYRO innovates with speed, discipline, and agility and was founded in 2017 by entrepreneurs, investors, and executives with a passion for creating sustainable urban EV solutions for micro-mobility. For more information, visit www.ayro.com .
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creakyhottie creakyhottie 4 years ago
Grocery stores have more revenue than Ayro posted in 3rd quarter
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creakyhottie creakyhottie 4 years ago
Ayro Inc.
Tue, November 3, 2020, 8:30 AM EST
Conference Call to be held Friday, November 6, 2020 at 8:30 a.m. Eastern Time

AUSTIN, Texas, Nov. 03, 2020 (GLOBE NEWSWIRE) -- AYRO, Inc. (Nasdaq: AYRO) (โ€œAYROโ€ or the โ€œCompanyโ€), an engineer and manufacturer of light-duty, urban, and short-haul electric vehicles (EVs), announces today that it will report third quarter 2020 financial results on Friday, November 6, before the market open.

Rod Keller, CEO and Curt Smith, CFO will also host a conference call at 8:30 a.m. ET on Friday, November 6, 2020 to review financial results and provide an update on corporate developments. Following managementโ€™s formal remarks, there will be a question and answer session. For those interested in submitting questions prior to the call, please email investors@ayro.com.


To listen to the conference call, interested parties within the U.S. should dial 1-877-270-2148 (domestic) or 1-412-902-6510 (international). All callers should dial in approximately 10 minutes prior to the scheduled start time and ask to be joined into the AYRO, Inc. conference call.

The conference call will also be available through a live webcast that can be accessed at https://services.choruscall.com/links/ayro201106.html or via the Companyโ€™s website at https://ir.ayro.com/news-events/ir-calendar.

The webcast replay will be available until February 6, 2021 and can be accessed through the above links or by calling 1-877-344-7529 (domestic) or 1-412-317-0088 (international) and using access code 10149581.
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koolmc koolmc 4 years ago
steady here
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gp22 gp22 4 years ago
AYRO: FireHouse Subs, Panera Breads & Jimmy Johns deal next LINK:


News: 9-29-2020: $300M production deal
https://www.usnews.com/news/technology/articles/2020-09-29/ev-makers-ayro-karma-team-up-to-manufacture-delivery-vehicles


"Austin, Texas-based AYRO has an advisory council that includes restaurant chains Panera Bread Company, Jimmy John's and Firrhouse Subs to advise on what they would like to see in the configuration of delivery vehicles, Keller said"
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Golden Cross Golden Cross 4 years ago
Nice news
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creakyhottie creakyhottie 4 years ago
AYRO Inc. and Karma Automotive's Innovation and Customization Center Announce Strategic Partnership
GlobeNewswire
8:43 AM ET
AYRO, Inc. (NASDAQ: AYRO), an engineer and manufacturer of light-duty, urban and short-haul electric vehicles (EVs), and Karma Automotive's Innovation and Customization Center (KICC), today announced the formation of a strategic manufacturing, engineering and design partnership.

This partnership will utilize Karma's state-of-the-art Innovation and Customization Center, Karma Engineering resources and the Karma Design Studio to provide expertise and contract manufacturing services for the next generation of AYRO's light-duty vehicles. KICC will also provide strategic engineering and development services for electrified solutions within the fast-growing delivery and microdistribution markets.

By combining AYRO's end-user, market and engineering expertise with KICC's manufacturing capabilities, development experience and global supply chain capabilities, the companies aim to be able to deliver over 20,000 light-duty trucks and electric delivery vehicles over the next three years, valued at more than $300 million.

The partnership will initially serve customers in North America, but the supply chain capabilities and resources of the two companies can be leveraged to meet demand across global markets in the future. Dedicated inventory space and assembly lines have been planned for AYRO's EVs within KICC's ISO-certified, 550,000 sq. ft. factory in Moreno Valley, CA. KICC's vertically integrated development capabilities, including frame/chassis build, fabrication center, body shop, robotic paint shop and powertrain integration, should allow the partnership to rapidly respond to customer and market demands for unique, task-oriented configurations and build-outs.

"Both teams will draw upon the diverse skill sets of both companies to provide customizable vehicles that address market-specific needs," said AYRO CEO Rod Keller. "AYRO is committed to delivering purpose-built EV solutions that reflect the real-world needs of users. Our partnership should allow us to rapidly expand on this promise to serve a larger and more diverse set of commercial fleets. Karma's manufacturing base in southern California has the potential to put AYRO's production and fulfillment operations near the top in the industry and should give us a strategic advantage in the multibillion-dollar purpose-built EV market."

The partnership is intended to serve a wide range of industries including universities, hospitals, corporate campuses, airports, hotels, municipalities, restaurants and pharmacies. These industries are looking to quickly adopt efficient and zero-carbon fleets to cut costs and meet sustainability targets. For example, nearly 60% of U.S. city governments already have green vehicle purchasing policies in place, and delivery needs have increased significantly in order to meet consumer demand related to COVID. A 2018 market report valued the global food delivery market at $53B, a projection that has since doubled to more than $104B between 2019-2023.

"We are very excited to partner with the AYRO leadership team," said Greg Tarr, chief strategy officer at Karma Automotive. "Since opening KICC in 2019, we have been offering Karma's EV technology, platforms and engineering and design services to a diverse client roster outside of traditional automotive groups. AYRO has a large footprint in fleet and commercial vehicle applications and they are helping us to better understand that space as we expand into new commercial sectors that can benefit from our sustainable vehicle solutions."

Spartan Capital Securities, LLC acted as sole introducing advisor to AYRO, Inc. in connection with the Joint Man ufacturing, Engineering and Design Partnership.

ABOUT AYRO, INC.

Texas-based AYRO, Inc., engineers purpose-built electric vehicles to enable sustainable fleets. With rapid, customizable deployments that meet specific buyer needs, AYRO's agile EVs are an eco-friendly microdistribution alternative to gasoline vehicles. The AYRO 411 Club Car is the only zero-emission, light duty EV known to AYRO that can be optimized for the needs of any sustainable fleet, while the AYRO 311 EV can be configured for a variety of urban last-mile transportation needs. AYRO innovates with speed, discipline and agility, and was fou nded in 2017 by entrepreneurs, investors and executives with a passion for creating sustainable urban electric vehicle solutions for micromobility. For more information, visit: www.ayro.com

ABOUT KARMA AUTOMOTIVE

Karma Automotive, founded in 2014, is a southern California based producer of luxury electric vehicles. Headquartered in Irvine, California with an assembly plant located in Moreno Valley, Karma sells vehicles via its dealer network comprised of 36 locations in North America, Europe, South America and the Middle East. Karma's Innovation and Customization Center, which opened in 2019 offers world-cla ss engineering, design, customization, and manufacturing services along with electrification platforms. Karma's flagship vehicle, the Revero(R) GT, Green Car Journal's 2020 Luxury Green Car of the Year(TM), is an electric vehicle powered by dual electric motors that embodies Karma's goal of offering leading technology with a luxury experience. Every Karma vehicle is created with unparalleled individual care and craftsmanship.

For more information, visit www.karmaautomotive.com, or www.karmanewsroom.com.

FORWARD LOOKING STATEMENTS

This press release may contain forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from any expected future results, performance, or achievements. Words such as "anticipate," "believe," "could," "estimate," "expect," "may," "plan," "will," "would" and their opposites and similar expressions are intended to identify forward-looking statements and include the intended use of net proceeds from the registered direct offering. Such forward-looking statements are based on the beliefs of management as well as assumptions made by and information currently available to management. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without l imitation: AYRO has a history of losses and has never been profitable, and AYRO expects to incur additional losses in the future and may never be profitable; the market for AYRO's products is developing and may not develop as expected and AYRO, accordingly, may never meet its targeted production and sales goals; AYRO's limited operating history makes evaluating its business and future prospects difficult and may increase the risk of any investment in its securities; AYRO may experience lower-than-anticipated market acceptance of its vehicles; developments in alternative technologies or improvements in the internal combustion engine may have a materially adverse effect on the demand for AYRO's electric vehicles; the markets in which AYRO operates are highly competitive, and AYRO may not be successful in competing in these industries; AYRO relies on and intends to continue to rely on a single third-party supplier for the sub-assemblies in semi-knocked-down for all of its vehicles; AYR O may become subject to product liability claims, which could harm AYRO's financial condition and liquidity if AYRO is not able to successfully defend or insure against such claims; increases in costs, disruption of supply or shortage of raw materials, in particular lithium-ion cells, could harm AYRO's business; AYRO will be required to raise additional capital to fund its operations, and such capital raising may be costly or difficult to obtain and could dilute AYRO stockholders' ownership interests, and AYRO's long term capital requirements are subject to numerous risks; AYRO may fail to comply with environmental and safety laws and regulations; and AYRO is subject to governmental export and import controls that could impair AYRO's ability to compete in international market due to licensing requirements and subject AYRO to liability if AYRO is not in compliance with applicable laws. A discussion of these and other factors with respect to AYRO is set forth in the Quarterly Report o n Form 10-Q for the quarterly period ended June 30, 2020, filed by AYRO on August 14, 2020, as amended. Forward-looking statements speak only as of the date they are made and AYRO disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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creakyhottie creakyhottie 4 years ago
https://foodondemandnews.com/09252020/building-the-midpoint-between-food-trucks-and-delivery-pods/
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