Exro Technologies Inc T.EXRO

EXRO - There is No Excuse for Lack of Clarity

[SIMPLICITI1]

UL Certification is a relatively binary process.

You either pass or fail the tests. When you pass you schedule and move on to the next, when you fail, you are told what the deficiencies are and then you go back in the queue to schedule a re-test.

When all tests are completed, plan on two to three weeks for processing and delivering the formal documentation. 

The last communication from EXRO dated December 20th stated

Exro has been diligently working towards UL certification and remains on track to complete testing by December 31st, 2023. Since our last update we have successfully passed a series of tests and this week have begun the final test requirement at Intertek Laboratories"  

The use of the past tense suggests the final test commenced on either the 18th or 19th. This left roughly 5 business days (given Christmas Holidays).

For the company to state that it remained on track for completion .... with so few testing days available, it must have had a clear understanding of the remaining requirements and felt confident  that the requirements could have been met within the remaining timeframe. 

It is now January 4th, and the Company has failed to issue a press release on the matter.

Given the commercial importance of UL Certification, I find it unconscionable that management did not provide a status update prior to year end. Good news or bad, an update should have been delivered. 

We are now 3 business days into 2024 and its still "crickets" from EXRO.

EXRO needs to improve its communications. Details matter.

[fleetwood]

OK, but when approval is imminent, Exro might just be deferring any comment day by day.

[SIMPLICITI1]

When a company creates an expectation and discloses it publicly, then they should follow that up with a press release as to the status of the expectation created.  If you don't want to do that..... then do not create the expectation in the first place.  

[Swindlesheets]

Simpliciti-did you try emailing O'Dowd. Sounds like he is open to communication

[SIMPLICITI1]

Swindlesheets,  I think Jeff is doing a good job, but he has no authority to speak for EXRO when it comes to information not yet in the public domain.

[Swindlesheets]

I agree, it would probably be a waste of time. He would not be able to reveal anything. I just find it unusual that I got am email from him at EXRO. It is a shame considering the amount of frustration of shareholders on this board. Of interest, EXRO is doing well on NASDAQ.