Response from Darrell bishop "Question: I am very concerned about the financial strength of exro at the moment. What are exro's options to finance the company to get the company to cash flow positive in the not so distant future that does not involve heavy share dilution? As an investor I would feel more confident continuing to invest with exro knowing that the company has options, what those options are that won't tank the share price? I'm sure many other investors are nervous about this as well. A financial road map with various possibilities for investors to see the game plan would also be helpful
2) why are staff in exro not purchasing shares to show their belief in the company?
3) how can exro get institutional companies to hold shares of exro?"
Darrells response:
"Thanks for your questions and support of Exro.
Regarding funding, we continue to execute our capital markets strategy to ensure we are adequately funded to deliver to customers and shareholders. Our Board and Executive are working hard to implement the strategy to capitalize the company which includes options for non-dilutive capital (working capital lines, revolvers, other debt instruments), strategic investments, M&A, and equity. While currently the sector is not recognizing our value, we have confidence that we will continue to fund the business in accretive ways for shareholders, like we have demonstrated.
On executive share purchases, we are a public company. From a regulatory perspective there are times when management are precluded from purchasing in the open market. This can be due to a variety of factors. What I will say with confidence is that we believe our shares are undervalued.
We continue to actively showcase the Exro story daily to institutional and retail investors to highlight the business we are building on behalf of shareholders like you. While the EV sector is currently out of favor with some investors, industry continues to adopt electrification (particularly in commercial vehicles). While adoption is slower than what many predicted 12-24 months ago, the transition to electric is happening. We will continue to market to investors the growth happening at Exro and our belief in the long-term value that will be created.
Have a great weekend. And thanks again for your interest and support.
Best regards,"
Thoughts?