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 ePowersports (NASDAQ: VLCN) has announced that CEO John Kim has released a video update addressing recent company developments. The full update can be viewed via a provided link. The company encourages stakeholders to stay tuned for further updates and directs media inquiries to media@volcon.com.
Volcon Inc. (NASDAQ:VLCN) has announced the launch and first production run of the HF1 Electric UTV, a three-person single row vehicle combining cutting-edge technology with rugged performance. The production has started one full quarter ahead of schedule, with the first 27 units ready to ship this week. The HF1 features a 350-volt automotive electric system with a high power battery pack that has received UN 38.3 Certification.
Key features of the HF1 include:
- Electric drivetrain with speeds up to 60 mph and a range of up to 60 miles
- 17.5 kWh battery system with quick recharge times
- Advanced suspension system and all-wheel drive capabilities
- 13-inch LCD display with backup camera and bluetooth compatibility
- GPS tracking and mobile connectivity
The HF1 is designed for versatility, suitable for recreational use, commercial tasks, and agricultural applications.
Volcon Inc. (NASDAQ:VLCN) has signed a distribution agreement with a prominent Japanese vehicle distributor, Pista Enterprises, G.K., to introduce its popular Brat electric bike with unique café racer options to the Japanese market. The Brat is expected to be available for sale during the 2024 holiday season, pending certification with the Japanese government.
This collaboration marks a significant milestone in Volcon's expansion strategy, targeting Japan's rapidly evolving electric vehicle market. The Brat, known for its versatility, performance, and sustainability, will feature a café racer configuration, blending vintage aesthetics with modern technology to appeal to urban commuters and adventure enthusiasts in Japan.
Volcon Inc. (NASDAQ:VLCN), an all-electric off-road powersports company, reported its Q2 2024 operational and financial results. Key highlights include:
1. Regained Nasdaq compliance on July 17, 2024
2. Raised $12 million in July 2024 from an equity offering
3. Delivered three additional Stags to the Army Corps
4. Signed agreements for new Grunt EVO and UTV models
5. Appointed Adrian Solgaard as a new independent board member
Financial results:
- Revenue: $0.9 million (Q2 2024) vs $1.0 million (Q1 2024)
- Gross Margin: -$2.2 million
- Net loss: $0.6 million
- Adjusted EBITDA loss: $5.1 million
The company is focusing on reducing costs and streamlining product development through partnerships with manufacturers.
Volcon Inc. (NASDAQ:VLCN), the pioneering all-electric off-road powersports company, has released a 6-month CEO update video on its website. The video, available on YouTube, provides insights into the company's progress over the past half-year. As the first company in its sector to focus exclusively on electric vehicles for off-road use, Volcon's update is likely to be of significant interest to investors and industry watchers alike.
While specific details of the update are not provided in the press release, the video is expected to cover key developments, potential challenges, and future plans for the company. This transparency in communication is often viewed positively by shareholders and could potentially impact the stock's performance.
Volcon Inc. (NASDAQ:VLCN), the pioneering all-electric, off-road powersports company, has regained compliance with Nasdaq's listing rules. This announcement comes following a notification from Nasdaq's Hearing Panel. The company's compliance status is subject to a Nasdaq Discretionary Panel Monitor for one year. This development is important for Volcon, as it ensures the company's continued presence on the Nasdaq stock exchange, providing stability and maintaining investor confidence in the electric vehicle manufacturer.
Volcon (NASDAQ: VLCN), the first all-electric off-road powersports company, announced the closing of a $12 million registered direct offering priced at-the-market. The offering included the sale of 3,287,671 shares of common stock and/or pre-funded warrants at $3.65 per share. The total gross proceeds were approximately $12 million. The offering closed on July 12, 2024, with Aegis Capital Corp. serving as the exclusive placement agent. The proceeds will be partially used to repay $2.94 million in principal on notes issued on May 22, 2024. Additionally, all Series A convertible preferred stock has been converted to common stock, leaving no convertible debt or preferred stock outstanding and less than $40,000 in debt remaining.
Volcon (NASDAQ: VLCN), the first all-electric, off-road powersports company, announced a $12 million registered direct offering of 3,287,671 shares of common stock and/or pre-funded warrants priced at $3.65 per share. The transaction is expected to close on July 12, 2024, subject to customary conditions. The offering's proceeds will be partly used to repay $2.94 million of principal on notes issued on May 22, 2024. Following the offering, Volcon will have no convertible debt or preferred stock and less than $40,000 in outstanding debt. The shares were registered with the SEC under Form S-3, effective March 21, 2023.
Volcon, trading as VLCN on NASDAQ, has announced a 1-for-100 reverse stock split, effective at 11:59 pm ET on June 6, 2024. The split will consolidate every 100 shares into one share, reducing the total outstanding shares from 33.3 million to approximately 0.33 million. The stock will continue trading under the ticker VLCN but with a new CUSIP number 92864V400 starting June 7, 2024. Stockholders will receive whole shares, with fractional shares rounded up. The number of authorized shares remains at 250 million, and shares reserved for equity compensation will be reduced proportionately.
Volcon Inc. (NASDAQ:VLCN) reported operational highlights and financial results for Q1 2024, including Nasdaq compliance extension, Stag delivery milestones, EVO sales growth, plans for new products, and financial data showing revenue of $1.0 million, operating expenses of $3.7 million, and a net loss of $26.0 million.