Volcon Inc. changed its corporate name to Empery Digital Inc. and shifted its public-company focus to a Bitcoin treasury strategy, with its common stock trading on Nasdaq under EMPD after the change. News around the former VLCN symbol now centers on BTC acquisitions, custody and portfolio metrics, net asset value references, share repurchase activity, borrowing facilities, and equity financing capacity.
Company updates also reference the remaining mobility business and operational results, including disclosures tied to tariffs, quarterly financial reporting, and the transition from an all-electric off-road powersports issuer to a digital-asset treasury model.
Volcon (NASDAQ:VLCN) has announced a significant strategic shift with a $500 million private placement to implement a Bitcoin treasury strategy. The company will sell 50,142,851 shares at $10.00 per share to institutional and accredited investors, with Empery Asset Management as lead investor.
The company plans to use 95% of the proceeds to acquire Bitcoin as its primary treasury reserve asset. As part of this transformation, Ryan Lane from Empery Asset Management has been appointed co-CEO and Chairman of the Board, alongside three new board members. Volcon has partnered with Gemini Nustar LLC to execute this Bitcoin strategy while maintaining its electric off-road power sports business under John Kim's leadership.
Volcon ePowersports (VLCN) has launched a new floor plan and retail financing program through Dealer Direct Financial, a department of First Community Bank. This strategic initiative will enable Volcon's dealer network to finance their inventory purchases of the company's all-electric off-road vehicles. The program aims to provide flexible financial solutions to support inventory acquisition and drive sales growth.
CEO John Kim emphasized that this program demonstrates Volcon's commitment to strengthening dealer relationships and accelerating the adoption of their electric vehicles. The partnership with Dealer Direct Financial represents a significant step in Volcon's strategy to scale operations and support their expanding dealer network in meeting growing customer demand.
Volcon ePowersports (NASDAQ: VLCN) has secured a significant purchase order from Advanced EV for 1,000 golf carts. This initial order will be used for market testing of a new golf cart model developed in collaboration with Super Sonic, following their distribution agreement from February 2025. The deal marks Volcon's second multi-million dollar agreement in five weeks.
The company sees this order as a stepping stone for potential broader collaboration with Advanced EV, leveraging Volcon's distribution capabilities and manufacturing expertise to serve Advanced EV's dealer network. Additionally, Volcon has announced the resumption of its share repurchase program.
Volcon Inc. (NASDAQ: VLCN) reported its Q1 2025 financial results, highlighting several operational developments. The company successfully sold all remaining Grunt EVO motorcycles and signed an amended golf cart supply agreement with Venom-EV. Revenue for Q1 2025 was $0.7 million, down from $1.0 million in Q4 2024. The company posted a net loss of $2.46 million for Q1 2025, an improvement from the $5.22 million loss in Q4 2024.
Notably, Volcon faces challenges from newly imposed U.S. tariffs on imports from China and Vietnam, where their vehicles are manufactured. The company is evaluating options including U.S.-based assembly or accepting higher selling prices. Despite these challenges, CEO John Kim maintains that the company's strong cash position should sustain operations into 2026.
Volcon (NASDAQ: VLCN) reported Q4 2024 financial results and operational highlights. Revenue for Q4 2024 was $0.9 million, consistent with Q2 but down from Q3's $1.1 million. The company secured key partnerships, including an exclusive golf cart distribution agreement with Super Sonic Company and a $2.4 million initial purchase order from Venom-EV.
Notable developments include the launch of the HF1 UTV in Q4 2024 and receipt of first prototypes for the FT1 dual sport motorcycle. Financially, Volcon raised $19.5 million through February 2025 via ATM and equity offerings, and announced a $2 million share repurchase program.
Q4 cost of goods included a $2.5 million charge for terminating Stag and EVO supply agreements, partially offset by a $0.7 million reduction in Torrot settlement. The company reports no debt and expects current cash position to sustain operations into 2026.
Volcon (NASDAQ:VLCN) has announced a $2 million share repurchase program authorized by its Board of Directors, effective through March 7, 2026. The company, which specializes in electric vehicles, reported an unrestricted cash balance of $19.1 million as of March 7, 2025.
CEO John Kim emphasized that this decision reflects confidence in Volcon's long-term vision, particularly following their transition to new products including the HF1 and MN1 Tradesman UTVs and the MN1 Adventurer golf cart, along with new golf cart distribution agreements. The company expects its current cash position, combined with projected operational cash flow in 2025, to sustain operations into 2026.
The repurchase program will be executed through open market transactions or other legally permitted methods, subject to market conditions and compliance with securities laws. Volcon maintains discretion over the timing, amount, and pricing of share repurchases, with no obligation to acquire a specific number of shares.
Volcon (NASDAQ: VLCN) has secured a significant supply agreement with Venom-EV for golf carts, receiving an initial order of 500 units. The partnership leverages Venom's established presence across 80 U.S. dealers and their premium golf cart lineup ranging from 2 to 6 seats.
Volcon CEO John Kim highlighted that recent funding enables the company to enter the golf cart market aggressively, with plans to capitalize on market opportunities created by U.S. government tariffs on Chinese-made golf carts. Venom-EV CEO Zack Kraus expressed enthusiasm about the partnership, noting it will support their business growth and dealer network supply.
Volcon ePowersports has undergone a significant strategic transformation under CEO John Kim's leadership. The company has shifted from an R&D-focused organization to one that collaborates with manufacturers to brand and sell electric vehicles. A key development is their partnership with AODES (Super Sonic), which helped raise $19.45 million for expanding into the golf cart and utility vehicle market.
The company benefits from favorable Vietnam tariffs of 2.5% compared to China's 500%, strengthening their manufacturing partnership. The recent investment will fund inventory expansion and sales team growth. The company has implemented cost-reduction measures, including reduced headcount and outsourced marketing. CFO Greg Endo projects achieving cash flow positivity by Q4 2025 with operations funded into 2026.
Volcon (Nasdaq: VLCN) has successfully closed its previously announced underwritten public offering, raising $12.0 million in gross proceeds. The offering comprised 6,000,000 Common Units, each consisting of one share of Common Stock or Pre-Funded Warrant and one Registered Common Warrant. The Common Units were priced at $2.00 each, with Common Warrants exercisable at $2.00 per share for 60 months.
Additionally, the company recently sold 1,831,558 shares through its At-The-Market agreement for approximately $9.47 million. Following the offering's closure and assuming all Pre-Funded Warrants are exercised, Volcon's outstanding Common Stock totals 8,572,429 shares. The company plans to use the net proceeds for general corporate purposes and working capital.