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StableX Technologies, Inc., formerly AYRO, centers recent corporate activity on investments tied to foundational tokens for the stablecoin industry after a strategic transformation from its earlier zero-emission vehicle business.
Recurring announcements have addressed FLUID token purchases, the SBLX ticker change, Nasdaq listing compliance, reverse-stock-split and capital-structure actions, and earlier operating initiatives for the AYRO Vanish low-speed electric vehicle, robotics-enabled manufacturing, EV charger assembly, GLV Ventures manufacturing work, and purchase orders tied to design and manufacturing projects.
AYRO, Inc. (Nasdaq: AYRO) reported its Q3 2020 financial results with revenues of $388,654 and a net loss of $3.1 million. The adjusted EBITDA loss was $2.1 million, with total debt at $241,399 and cash reserves of $27.9 million as of September 30, 2020. The company expanded its Austin facility to increase production from 200 to 600 vehicles monthly and established a partnership with Karma Automotive aiming to deliver 20,000 vehicles over three years.
AYRO also announced $24.25 million raised through equity offerings and received initial orders worth $584,000 for mobile food trucks.
AYRO announces its third quarter 2020 financial results will be reported on November 6, 2020, before market open. CEO Rod Keller and CFO Curt Smith will lead a conference call at 8:30 a.m. ET to discuss the results and corporate developments. Interested attendees can submit questions via email and will have the opportunity to join the live conference call or listen to a webcast. AYRO focuses on manufacturing light-duty electric vehicles for urban and short-haul use, targeting sustainable fleet solutions in various sectors.
AYRO, Inc. (NASDAQ:AYRO), a manufacturer of electric vehicles, announced its participation in several upcoming investor conferences. Notable events include the LD Micro LD-500 Virtual Conference on September 1-2, where CEO Rod Keller will present and engage in one-on-one meetings with investors. Additionally, AYRO will attend the Colliers Institutional Investor Conference on September 10 and the Cowen & Co. Global Transportation and Sustainable Mobility Conference on September 11. Presentations will be accessible on AYRO's investor relations webpage.
AYRO, Inc. (NASDAQ:AYRO) announced its Q2 2020 financial results, revealing revenues of $286,000 and a net loss of $1.53 million. The company reported $881,000 in total debt and $7.9 million in cash by June 30. Notably, AYRO raised approximately $24.8 million in equity after the quarter and secured $584,000 in orders for its EV hospitality truck. A 200% increase in production capacity was achieved, bringing monthly output potential to 600 vehicles. The backlog stands at $525,000.
AYRO, Inc. (NASDAQ:AYRO) reported financial results for Q2 2020, with revenues of $286,000 and a net loss of ($1.53) million. The company had $7.9 million in cash and total debt of $881,000 as of June 30, 2020. Post-quarter, AYRO raised approximately $24.8 million in equity and secured $584,000 in orders for its EV solutions. A plant expansion is set to increase production capacity by 200% to 600 vehicles per month. AYRO's backlog stands at approximately $525,000. Despite COVID-19's impact, demand for electric vehicles is rising, positioning AYRO for growth.
AYRO, Inc. (NASDAQ: AYRO) has announced a registered direct offering of its common stock at $5.00 per share, aiming to raise approximately $9.25 million before offering expenses. The transaction involves institutional and accredited investors, with the option to purchase additional shares up to 75% of the acquired amount until October 19, 2020. The closing is anticipated around July 24, 2020. Proceeds will support working capital and general corporate purposes. This offering is made under a previously filed effective shelf registration with the SEC.
AYRO, Inc. (NASDAQ: AYRO) has entered into definitive agreements for a registered direct offering of common stock at $4.75 per share, aiming for gross proceeds of about $15 million. The closing is anticipated around July 8, 2020, pending customary conditions. The funds will be allocated for working capital and general corporate purposes. The offering relies on a previously effective shelf registration statement. Palladium Capital Group acted as a financial advisor for this transaction.
AYRO, Inc. (NASDAQ: AYRO) has announced a registered direct offering of 2,200,000 shares at $2.50 per share, expected to close around June 19, 2020. The offering aims to raise approximately $5.5 million for working capital and corporate purposes. Shares will be offered under a shelf registration statement filed with the SEC. The company specializes in emissions-free electric vehicles and is looking to strengthen its financial position in a competitive market.