Looks Like 4 Mill to Produce CD, Big Order in the Works ????....just filied yesterday on update, Sedar.....MO....??? should I BUy more before Monday is the ???? MO
......The Company intends to use a portion of the net proceeds of the Offering for research and development activities necessary to complete the prototype-to-market process for its technology, building a product with full drivability and a high level of maturity, in the following segments of the electric vehicle and Battery Control Systems markets:
.....Product Segments Addressable Markets Estimated Cost Low Voltage (LV) – 48 to 100V Scooters; electric bikes; recreational; light electric cars and motorcycles $2.0M High Voltage (HV) – 400 to 800V Fleet vans; electric buses; passenger vehicles , long-haul trucks; and industrial vehicles $5.0M Next Generation Coil Driver™ In planning
.......$1.0M Battery Control Systems Energy Storage Solutions
.....$2.0M Total Estimated Research & Development Costs for 2022 $10.0M All of the Company's research and development activities are undertaken in-house.
.....Exro has been actively building its engineering team and continues to seek to recruit top talent. The Company subcontracts only material items such as mechanical build-ups. 24
......The Company intends to allocate $4,000,000 to working capital.
The Company is proposing to use these funds to secure parts and components, including electric motors, circuit boards, MOSFETs and microchips, required for the production of the Company’s coil drivers.
The manufacturing facility in Calgary is planned to be commissioned in fourth quarter of 2022