Worksport Ltd Stock Price, News & Analysis

Worksport Ltd (OTC: WKSP) has announced significant growth in its workforce to enhance its R&D capabilities. The company has hired two full-time industrial engineers, an industrial designer, and two advisory engineers with extensive experience in mechanical and electrical fields. Additionally, Worksport is expanding its operational team in a new Canadian facility, focusing on marketing and customer service roles. The CEO emphasizes that this strategic hiring aims to support the launch of the TerraVis product line and future innovations, thereby creating substantial value for stakeholders.

Worksport Ltd (OTC: WKSP) has announced significant progress on its TerraVis COR™ mobile energy storage system. The company has completed final designs and entered the production prototype phase, with the first prototype expected by early Q3 2021. A specialized website is set to launch soon due to growing demand. CEO Steven Rossi emphasizes the system's user-friendly design and potential as a global product. Additionally, Worksport is pursuing sales through major online retailers and physical stores to broaden its market presence.

Worksport Ltd (OTC: WKSP) has made significant strides in expanding its customer base, securing three new private label customers in the automotive sector. Following its announcement on March 16, 2021, the Company is witnessing overwhelming product demand, leading to a queue of additional customer orders. Worksport aims to realize profitability once again, as seen in 2019, and plans its first shipment from the latest signed Private Label brand. CEO Steven Rossi emphasizes the importance of strengthening manufacturing capabilities to meet increasing demand.

Worksport Ltd (OTC: WKSP) announced its participation at the Benzinga Global Small Cap Conference on May 13-14, 2021, inviting shareholders to explore investment opportunities. The company also signed a lease for a new manufacturing facility in Mississauga, Ontario, aimed at enhancing production capabilities and opening new opportunities. This facility is expected to support Worksport’s growth and product development, particularly in modular tonneau covers and solar-powered systems for light-duty trucks. Shareholders are encouraged to register for updates via company newsletters and social media.

Worksport Ltd. (OTC: WKSP) has signed a lease for a new manufacturing facility in Mississauga, Ontario. The agreement fosters a partnership with a Tier-one OEM automotive manufacturer, enhancing Worksport's production capabilities.

The facility will be move-in ready within months, allowing Worksport to utilize less than half the space initially, optimizing cost savings as they grow. Equipped with stamping presses and modern tools for product development, this site will facilitate the assembly of the upcoming TerraVis™ and support further innovations aimed at the EV and Sustainable Energy markets.

Worksport Ltd (OTC: WKSP) announced it is nearing completion of negotiations for a new manufacturing facility in Canada. This strategic investment aims to enhance production capacity for its TerraVis tonneau cover systems and TerraVis COR battery systems. The new facility is expected to improve scalability, operational efficiency, and reduce unnecessary expenditures. The CEO emphasizes that increased production capacity will positively impact profitability without harming the company's finances. Additional details regarding the lease finalization and partnerships in the North American automotive sector are forthcoming.

Worksport Ltd. (OTC: WKSP) plans to list its shares on the NASDAQ Capital Markets Exchange and has authorized a reverse stock split of common shares between 1-for-10 and 1-for-30, contingent on the successful listing. CEO Steven Rossi stated that the reverse split is crucial for elevating the company's profile and broadening its investor base. Worksport boasts a strong balance sheet with nearly $10 million in cash and plans to release its innovative Terravis COR™ mobile battery system soon, while continuing to enhance manufacturing capabilities.

Worksport Ltd (OTC: WKSP) announced its financial results for the year ending December 31, 2020, reporting total revenues of $346,144, a significant decline from $1,926,405 in 2019. The net loss increased to $1,187,620, compared to a loss of $359,034 the previous year. Despite these challenges, the company ended the year with $1.1 million in cash and no long-term debt. Worksport launched the TerraVis™ product line and secured a Tier-One OEM supply agreement with Hercules Electric Mobility, reflecting its potential in the emerging EV market.

Worksport Ltd (OTC: WKSP) announced that CEO Steven Rossi will present at the Benzinga Cleantech Small Cap Conference on April 22, 2021, at 10:10 am. Following his presentation, Rossi will participate in the panel discussion Emerging Innovations and the Companies Behind Them at 1:00 pm, focusing on sustainable economic value. Investors can register for the virtual conference and access the panel discussion via a provided link. Worksport develops modular tonneau covers and solar-powered systems for light-duty trucks, including the upcoming TerraVis tonneau system.