Vicinity Motor Corp V.VMC

The worst part

[subaru1]

of the last news release.
The Company has put an estimated 45 employees located in Canada and 10 employees located in the United States on temporary layoff as a result of the creditor situation to address immediate liquidity concerns and reduction of available cash.

So the facilities are closed outch.....

[slipdan]

This is it , they're not going to do the same as lion electric 

[Pandora]

From a News Item point of view at least we are not yet at the level of a LEV (Lion) or worse yet a level such as CAE!

[Pandora]

Looking at some of the history of Lion it was a bit of a different scenario. Lion was a couple of magnitudes above VMC in orders and production. They were a private company and were approached by an Acquisition corporation. I believe the class action suit against Lion was based on a belief that Lion embellished the financial numbers. Quite a different scenario than VMC. Hopefully this will be

[sorrenson]

"belief that Lion embellished the financial numbers" Yeah its not like VMC made up 1000 unit purchase orders ...oh wait 

[Pandora]

The last time the company went through this type of scenario it was after W. Trainor stepped out and gave the reins to the sales manager. The Company was then known as GrandeWest Transportation. It ended with Trainor coming back in and running the show again. This time around he is staying on as CEO but again has given the sales manager an upgrade to the President's seat. With two of them

[Pandora]

If you look at the background and job experience of the Members of the Board you kind of wonder how they got into a financial problem --- especially knowing they went through one a few years back. Going belly up once is bad enough but twice seems inexcusable. (But then I also put myself into this position for a second time -- that's probably inexcusable as well :-)) Can they pull a rabbit

[Pandora]

A little help on the way this a.m. Gets some of the employees back to work. Continue to be amazed at the volume on the U.S. listing VEV.