RE:RE:RE:New Press Release - LION ELECTRIC ANNOUNCES SECOND QUARTER 2024 RESULTSTslayer wrote: Oh boy. Worse than expected. I don't know where it goes from here but either way it's going to be long time before we see any positive movement.
Where to from here?
Perhaps a roll-back or consolidation of shares -- maybe 10:1 -- to maintain American and Canadian listings.
Or sell/merge the company to/with BYD (which is already competitively building EV buses in Newmarket Ontario) to assist BYD's desired entry into the broader EV vehicle market in Canada
But maybe that's not such a good option as Emperor Trump's head will explode, and, as he is above the law as king, initiate a seek and destroy tariff mission sanctioned by God that will exterminate any Chinese influence threatening the northern border of the Yew Hass Yay. https://en.byd.com/news/byd-electric-buses-rollout-across-canadas-largest-city/
The Company also announced that on July 17, 2024, it received notice (the "Notice") from the New York Stock Exchange (the "NYSE") that, as of July 16, 2024, it was not in compliance with Section 802.01C of the NYSE Listed Company Manual because the average closing price of the Company's common stock was less than $1.00 per share over a consecutive 30 trading-day period.
In accordance with applicable NYSE rules, the Company notified the NYSE of its intent to regain compliance with Rule 802.01C and return to compliance with the applicable NYSE continued listing standards.
The Company can regain compliance at any time within a six-month cure period following its receipt of the Notice if, on the last trading day of any calendar month during such cure period, the Company has both: (i) a closing share price of at least $1.00 and (ii) an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of the applicable calendar month.
The Company is considering all available options to regain compliance with the NYSE's continued listing standards, including, but not limited to, taking actions that are subject to shareholder approval no later than at the Company's next annual meeting of shareholders.