Latest news with #GeorgeO'Leary
Yahoo
29-05-2025
- Business
- Yahoo
Sono Group N.V. Reschedules Participation in Emerging Growth Conference to June 17, 2025
The Company invites individual and institutional investors to attend its real-time presentation at the Emerging Growth Conference Munich, May 29, 2025 (GLOBE NEWSWIRE) -- The solar technology company Sono Group N.V. (OTCQB: SEVCF) (hereafter referred to as 'Sono Group' or 'Sono', parent company to Sono Motors GmbH or 'Sono Motors') today announced that its previously scheduled presentation at the Emerging Growth Conference on May 21, 2025, has been moved to the next event in the series. The Company will now present on Monday, June 17, 2025, from 1:14 PM to 2:15 PM Eastern live, interactive online event will give existing shareholders and the investment community the opportunity to interact with the Company's Managing Director and CEO, George O'Leary, in real time. Mr. O'Leary will provide an update on the Company's strategy and recent developments, including the newly announced projects, the first quarter 2025 results published earlier this month, and key O'Leary will give a presentation and may subsequently open the floor for questions. Please submit your questions in advance to Questions@ or ask your questions during the event and Mr. O'Leary will do his best to get through as many of them as register here to ensure you are able to attend the conference and receive any updates that are recently published Q1 results demonstrate continued progress across our core business lines,' said George O'Leary. 'At the June 17 conference, I look forward to sharing more about our momentum in the Sono business plans, our expanding partnerships, new opportunities and an update on our planned uplisting to Nasdaq.'In addition to the Emerging Growth Conference, Sono also confirms George O'Leary's participation in the upcoming Webull EV Webinar, taking place on June 24, 2025. Further details, including the agenda and registration link, will be provided closer to the ABOUT SONO GROUP N.V. Sono Group N.V. (OTCQB: SEVCF) and its wholly owned subsidiary Sono Motors GmbH are on a pioneering mission to accelerate the revolution of mobility by making every commercial vehicle solar. Our disruptive solar technology has been developed to enable seamless integration into all types of commercial vehicles to reduce the impact of CO2 emissions and pave the way for climate-friendly mobility. For more information about Sono Group N.V., Sono Motors, and their solar solutions, visit and Follow us on social media: LinkedIn, Facebook, BlueSky, Truth Social, and STATEMENTS This press release may contain forward-looking statements. The words "expect", "anticipate", "intend", "plan", "estimate", "aim", "forecast", "project", "target", 'will' and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the intentions, beliefs, or current expectations of the Company and its subsidiary Sono Motors GmbH (together, the 'companies'). Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and could cause the companies' actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. These risks, uncertainties and assumptions include, but are not limited to, risks, uncertainties and assumptions with respect to: the Company's ability to uplist to the Nasdaq Capital Market, including meeting the initial listing requirements; the Company's ability to satisfy the conditions precedent set forth in its recent securities purchase agreement ('Securities Purchase Agreement') and exchange agreement ('Exchange Agreement') entered into with YA II PN, Ltd. ('Yorkville'); the timing of closing the transactions contemplated by the Securities Purchase Agreement and the Exchange Agreement; the impact of the transactions contemplated by the Exchange Agreement and Securities Purchase Agreement on the Company's operating results; our ability to maintain relationships with creditors, suppliers, service providers, customers, employees and other third parties in light of the performance and credit risks associated with our constrained liquidity position and capital structure; our ability to comply with OTCQB continuing standards; our ability to achieve our stated goals; our strategies, plan, objectives and goals, including, among others, the successful implementation and management of the pivot of our business to exclusively retrofitting and integrating our solar technology onto third party vehicles; our ability to raise the additional funding required beyond the investment from Yorkville to further develop and commercialize our solar technology and business as well as to continue as a going concern. For additional information concerning some of the risks, uncertainties and assumptions that could affect our forward-looking statements, please refer to our filings with the U.S. Securities and Exchange Commission ('SEC'), including our Annual Report on Form 20-F for the year ended December 31, 2023, which are accessible on the SEC's website at and on our website at Many of these risks and uncertainties relate to factors that are beyond our ability to control or estimate precisely, such as the actions of courts, regulatory authorities and other factors. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the Company assumes no obligation to update any such forward-looking SONO GROUP N.V. 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Yahoo
20-05-2025
- Automotive
- Yahoo
Sono Group N.V. Reports First Quarter 2025 Results with €8.8 Million Net Income
MUNICH, May 20, 2025 (GLOBE NEWSWIRE) -- Sono Group N.V. (OTCQB: SEVCF) (hereafter referred to as 'Sono' or the 'Company', parent company to Sono Motors GmbH or 'Sono Motors'), the solar technology company, today announced its financial results for the first quarter ended March 31, 2025. Q1 2025 Financial Highlights Net income of €8.8 million: positive net result driven primarily by non-cash fair value adjustments to convertible debt instruments. First revenues recorded following the Company's financial turnaround, reflecting the initial commercialization of its solar solutions. Cash used in operating activities decreased to €2.2 million, down from €12.4 million in Q1 2024. Operating expenses remain disciplined, as the Company focuses on scaling its solar technology business and expanding market reach. Business Updates and Outlook Commenced first Bus OEM factory partnership, with initial buses leaving the assembly line of a European manufacturer featuring Sono Motors' solar integration solution. This development allows customers to purchase solar-equipped buses directly from the OEM, enhancing convenience and demonstrating the scalability of Sono's OEM-grade solar products. Kicked off collaboration with Ford Motor Company under the EU-funded SolarMoves project to test Vehicle Integrated Photovoltaics (VIPV) on a Ford E-Transit. The vehicle is equipped with a 1 kWp solar installation and Sono Motors' High Voltage (HV) Solar Charge Controller, aiming to reduce grid charging demand and enhance energy efficiency. Sono Group is intensifying its strategic focus on OEM collaborations and industrial partnerships, working directly with vehicle manufacturers to integrate its solar technology into production-line vehicles. This shift toward factory-level integration reflects the Company's long-term vision to establish solar as a standard feature in commercial mobility. To support this evolution, the Company will continue advancing product industrialization, enhancing its solar technology, and expanding its commercial reach through strategic partnerships. Management is confident in the long-term growth potential of its B2B solar solutions platform. 'Our first quarter results reflect continued focus as we plan to execute on our strategy,' said George O'Leary, Managing Director and Chief Executive Officer of Sono Group N.V. 'While our net income in the quarter is primarily driven by non-cash fair value adjustments, we are encouraged by the early revenue contributions and ongoing commercial progress. We remain focused on scaling our solar retrofitting business and establishing long-term strategic partnerships that will benefit Sono and its customers.'The full unaudited quarterly report on Form 10-Q for the period ended March 31, 2025, is available on the Company's investor relations website at and filed with the U.S. Securities and Exchange Commission. ABOUT SONO GROUP N.V. Sono Group N.V. (OTCQB: SEVCF) and its wholly owned subsidiary Sono Motors GmbH are on a pioneering mission to accelerate the revolution of mobility by making every commercial vehicle solar. Our disruptive solar technology has been developed to enable seamless integration into all types of commercial vehicles to reduce the impact of CO2 emissions and pave the way for climate-friendly mobility. For more information about Sono Group N.V., Sono Motors, and their solar solutions, visit and Follow us on social media: LinkedIn, Facebook, BlueSky, Truth Social, and X. FORWARD-LOOKING STATEMENTS This press release may contain forward-looking statements. The words "expect", "anticipate", "intend", "plan", "estimate", "aim", "forecast", "project", "target", 'will' and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the intentions, beliefs, or current expectations of the Company and Sono Motors (together, the 'companies'). Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and could cause the companies' actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. These risks, uncertainties and assumptions include, but are not limited to, risks, uncertainties and assumptions with respect to: the Company's ability to uplist to the Nasdaq Capital Market, including meeting the initial listing requirements; the Company's ability to satisfy the conditions precedent set forth in its recent securities purchase agreement ('Securities Purchase Agreement') and exchange agreement ('Exchange Agreement') entered into with YA II PN, Ltd. ('Yorkville'); the timing of closing the transactions contemplated by the Securities Purchase Agreement and the Exchange Agreement; the impact of the transactions contemplated by the Exchange Agreement and Securities Purchase Agreement on the Company's operating results; the ability to access the unfunded portion of the investment from Yorkville, including our ability to successfully comply with the agreements related thereto and the absence of any termination event or any event of default; our ability to maintain relationships with creditors, suppliers, service providers, customers, employees and other third parties in light of the performance and credit risks associated with our constrained liquidity position and capital structure; our ability to comply with OTCQB continuing standards; our ability to achieve our stated goals; our strategies, plan, objectives and goals, including, among others, the successful implementation and management of the pivot of our business to exclusively retrofitting and integrating our solar technology onto third party vehicles; our ability to raise the additional funding required beyond the investment from Yorkville to further develop and commercialize our solar technology and business as well as to continue as a going concern. For additional information concerning some of the risks, uncertainties and assumptions that could affect our forward-looking statements, please refer to our filings with the U.S. Securities and Exchange Commission ('SEC'), including our Annual Report on Form 20-F, which are accessible on the SEC's website at and on our website at Many of these risks and uncertainties relate to factors that are beyond our ability to control or estimate precisely, such as the actions of courts, regulatory authorities and other factors. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the Company assumes no obligation to update any such forward-looking statements. CONTACT: Press:press@ | Investors:ir@ | LinkedIn: FINANCIAL RESULTS (amounts in € thousands, except share and per share data) CONDENSED CONSOLIDATED BALANCE SHEETS €k March 31, 2025 December 31, 2024 ASSETS Current Assets Cash 801 1,354 Inventory 348 304 Prepaid taxes 541 531 Prepaid expenses and other 103 103 Total Current Assets 1,793 2,292 Property, plant and equipment 121 129 Right of use lease assets 617 630 TOTAL ASSETS 2,531 3,051 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Accounts payable and accrued expenses 451 575 Lease liability, current portion 126 58 Convertible notes payable at fair value 15,305 24,035 VAT payable - 487 Other current liabilities 2 5 Total Current Liabilities 15,884 25,160 Long-Term Liabilities Lease liability, long term portion 491 572 Total Liabilities 16,375 25,732 Shareholders' Equity Ordinary Shares 28 28 High Voting Shares 20 20 Additional paid-in capital 298,699 298,699 Accumulated deficit (312,591) (321,428) Total Shareholders' Equity (13,844) (22,681) TOTAL EQUITY AND LIABILITIES 2,531 3,051 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) €k Q1 2025 Q1 2024 Revenue 26 – Cost of sales (20) – Gross margin 6 – Operating Expenses and Costs Selling and distribution expenses 240 53 General and administrative expenses 1,135 1,134 Research and development 440 221 (Gain)/Loss on deconsolidation/reconsolidation - (62,734) Other Operating (income)/loss (3) 13 Total Operating Expenses and Costs 1,812 (61,313) (Loss)/Income from Operations (1,806) 61,313 Other Income (Expenses) Income from changes in fair value of convertible note payable carried at fair value 10,331 21,062 Gain/(Loss) on foreign currency transactions 312 (1,498) Total Other Income 10,643 19,564 NET INCOME (LOSS) 8,837 80,877 Net income (loss) per share to common shareholders: Basic, € 6.09 55.80 Diluted, € 0.86 5.49 Weighted average number of common shares: Basic, € 1,449,918 1,449,485 Diluted, € 10,302,853 14,727,612Sign in to access your portfolio
Associated Press
28-01-2025
- Automotive
- Associated Press
Sono Group N.V.'s CEO Shareholder Update
Munich, Jan. 28, 2025 (GLOBE NEWSWIRE) -- The solar technology company Sono Group N.V. ( OTCQB: SEVCD) (hereafter referred to as 'Sono' or the 'Company', parent company to Sono Motors GmbH or 'Sono Motors') today issued a shareholder update from George O'Leary, Managing Director and Chief Executive Officer. Dear Shareholders, With 2024, behind us, I am both proud and optimistic about the strides we've made and the opportunities that lie ahead. Over the past year, Sono Group has undergone a transformative journey, focusing on strengthening relationships, innovating new solar solutions, and solidifying our position as a leader in solar mobility. This year, our priorities included rebuilding trust with our customers, forming strategic partnerships, delivering cutting-edge solar kits, and completing key prototypes. These efforts have led to the successful launch of solutions such as our Solar Kits for trucks, vans, and refrigerated trailers, as well as new variants of our flagship Solar Bus Kit. Transparency, compliance, and shareholder engagement have been at the forefront of our efforts, helping to establish a strong foundation for future growth. These achievements defined 2024 and fuel our optimism for the year ahead. Key Milestones in 2024 - Strategic Partnerships: We expanded our reach through a partnership with Hofmeister & Meincke, leveraging their extensive distribution network across Germany, Austria, and 25 other countries. - Enhanced Product Portfolio: We introduced tailored solar solutions for trucks, vans, and refrigerated trailers while advancing variants of our Solar Bus Kit. These innovations position us as a leader in solar retrofitting for commercial vehicles. - Industry Recognition: In November 2024, Sono Group received the prestigious Lorenzo Cagnoni Award for Green Innovation at the IBE Intermobility and Bus Expo in Rimini, Italy. This award underscores our commitment to sustainable innovation in the transportation sector. - Regulatory Milestone: Sono became the first company in Germany to receive national approval for vehicle-integrated solar technology from the German Federal Motor Transport Authority (KBA). This approval underscores the reliability, safety, and quality of our solutions, reinforcing our leadership in solar mobility. Looking Ahead to 2025 We approach 2025 with a clear vision and ambitious objectives: - Driving Sales Growth: We project revenue distribution as follows: - 60% from Solar Bus Kits - 20% from Solar Kits for trucks and vans - 20% from Refrigeration Trailer Kits, the fastest-growing segment. - Expanding Global Reach: By forming new partnerships and collaborations, we aim to expand our footprint in North and South America, bringing solar mobility solutions to a broader global audience. - Nasdaq Uplisting: We remain focused on fulfilling the requirements for our Nasdaq Capital Markets uplisting. This milestone represents an exciting opportunity to enhance transparency and improve accessibility for investors. We will keep you informed as we continue to make progress and meet all the necessary criteria. Our Vision for the Future At Sono Group, we believe in solar on every commercial vehicle. Solar technology serves as the bridge between conventional vehicles of today and the electric vehicles of tomorrow. By harnessing the power of the sun, we are not only helping our customers reduce costs and emissions but also making transportation more sustainable. Thank you for your continued trust and support. Together, we are shaping the future of solar mobility and creating a meaningful impact on the world. Sincerely, George O'Leary Managing Director and Chief Executive Officer Sono Group N.V. END ABOUT SONO GROUP N.V. Sono Group N.V. ( OTCQB: SEVCD) and its wholly owned subsidiary Sono Motors GmbH are on a pioneering mission to accelerate the revolution of mobility by making every commercial vehicle solar. Our disruptive solar technology has been developed to enable seamless integration into all types of commercial vehicles to reduce the impact of CO2 emissions and pave the way for climate-friendly mobility. For more information about Sono Group N.V., Sono Motors, and their solar solutions, visit and FORWARD-LOOKING STATEMENTS This press release may contain forward-looking statements. The words 'expect', 'anticipate', 'intend', 'plan', 'estimate', 'aim', 'forecast', 'project', 'target', 'will' and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the intentions, beliefs, or current expectations of the Company and Sono Motors (together, the 'companies'). Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and could cause the companies' actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. These risks, uncertainties and assumptions include, but are not limited to, risks, uncertainties and assumptions with respect to: the Company's ability to uplist to the Nasdaq Capital Market, including meeting the initial listing requirements; the Company's ability to satisfy the conditions precedent set forth in its recent securities purchase agreement ('Securities Purchase Agreement') and exchange agreement ('Exchange Agreement') entered into with YA II PN, Ltd. ('Yorkville'); the timing of closing the transactions contemplated by the Securities Purchase Agreement and the Exchange Agreement; the impact of the transactions contemplated by the Exchange Agreement and Securities Purchase Agreement on the Company's operating results; the ability to access the unfunded portion of the investment from Yorkville, including our ability to successfully comply with the agreements related thereto and the absence of any termination event or any event of default; our ability to maintain relationships with creditors, suppliers, service providers, customers, employees and other third parties in light of the performance and credit risks associated with our constrained liquidity position and capital structure; our ability to comply with OTCQB continuing standards; our ability to achieve our stated goals; our strategies, plan, objectives and goals, including, among others, the successful implementation and management of the pivot of our business to exclusively retrofitting and integrating our solar technology onto third party vehicles; our ability to raise the additional funding required beyond the investment from Yorkville to further develop and commercialize our solar technology and business as well as to continue as a going concern. For additional information concerning some of the risks, uncertainties and assumptions that could affect our forward-looking statements, please refer to our filings with the U.S. Securities and Exchange Commission ('SEC'), including our Annual Report on Form 20-F, which are accessible on the SEC's website at and on our website at Many of these risks and uncertainties relate to factors that are beyond our ability to control or estimate precisely, such as the actions of courts, regulatory authorities and other factors. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the Company assumes no obligation to update any such forward-looking statements.
