Latest news with #SuperSonic
Miami Herald
27-05-2025
- Automotive
- Miami Herald
Volcon ePowersports Receives Purchase Order from Advanced EV for 1,000 Golf Carts and Resumes Share Repurchase Program
AUSTIN, TX / ACCESS Newswire / May 27, 2025 / Volcon ePowersports (NASDAQ:VLCN) ("Volcon" or the "Company")) the first all-electric, off-road powersports company, received its first purchase order from Advanced EV for 1,000 golf carts. This initial order will be used by Volcon to conduct market testing of a new golf cart model developed in conjunction with Super Sonic under the distribution agreement with Volcon previously announced in February 2025. The order represents a first step in exploring a broader relationship between the two companies. "We're excited to supply Advanced EV with this test order and see it as a strong foundation for future collaboration," said John Kim, CEO, Volcon. "As an OEM manufacturing partner, we look forward to the opportunity to help bring innovative and high-quality products to Advanced EV's dealer network and customer base." Birju Patel, CEO of Advanced EV, added, "We're pleased to be working with Volcon on this initial test order. Their distribution capabilities and ability to move quickly make them a valuable partner as we explore new product offerings to serve our growing customer base." "This is the second multi-million dollar deal in the last five weeks," said Josh Rasmussen, CSO of Volcon. "We're excited to see the growth trajectory for Volcon and believe this momentum signals a strong future ahead." The Company also adds that it has resumed its share repurchase program. About VolconBased in the Austin, Texas area, Volcon was founded as the first all-electric power sports company producing high-quality and sustainable electric vehicles for the outdoor community. Volcon electric vehicles are the future of off-roading, not only because of their environmental benefits but also because of their near-silent operation, which allows for a more immersive outdoor experience. Volcon's vehicle roadmap includes both motorcycles and UTVs. Its first product, the innovative Grunt, began shipping to customers in late 2021 and combines a fat-tired physique with high-torque electric power and a near-silent drive train. The Volcon Grunt EVO, an evolution of the original Grunt with a belt drive, an improved suspension, and seat, began shipping to customers in October 2023. The Brat is Volcon's first foray into the wildly popular eBike market for both on-road and off-road riding and is currently being delivered to dealers across North America. In 2024, Volcon entered the rapidly expanding LUV and UTV market and shipped its first production MN1 unit in October 2024. The new MN1 and HF1 products empower the driver to explore the outdoors in a new and unique way that gas-powered units cannot. They offer the same thrilling performance of a standard LUV / UTV without the noise (or pollution), allowing the driver to explore the outdoors with all their senses. Volcon ContactsFor Media: media@ Dealers: dealers@ Investors: investors@ Marketing: marketing@ For more information on Volcon or to learn more about its complete eBike, motorcycle and side-by-side line-up, visit: Forward-Looking StatementsSome of the statements in this release referenced in this release are forward-looking statements, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, whether the full purchase order will be fulfilled and when the units will be delivered and when share repurchases will be completed. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. The Company has attempted to identify forward-looking statements by terminology including ''believes,'' ''estimates,'' ''anticipates,'' ''expects,'' ''plans,'' ''projects,'' ''intends,'' ''potential,'' ''may,'' ''could,'' ''might,'' ''will,'' ''should,'' ''approximately'' or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors. Any forward-looking statements contained in this release speak only as of its date. The Company undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting the Company is contained under the heading "Risk Factors" in the Company's Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC, which are available on the SEC's website, SOURCE: Volcon, Inc.
Yahoo
27-05-2025
- Automotive
- Yahoo
Volcon ePowersports Receives Purchase Order from Advanced EV for 1,000 Golf Carts and Resumes Share Repurchase Program
AUSTIN, TX / / May 27, 2025 / Volcon ePowersports (NASDAQ:VLCN) ("Volcon" or the "Company")) the first all-electric, off-road powersports company, received its first purchase order from Advanced EV for 1,000 golf carts. This initial order will be used by Volcon to conduct market testing of a new golf cart model developed in conjunction with Super Sonic under the distribution agreement with Volcon previously announced in February 2025. The order represents a first step in exploring a broader relationship between the two companies. "We're excited to supply Advanced EV with this test order and see it as a strong foundation for future collaboration," said John Kim, CEO, Volcon. "As an OEM manufacturing partner, we look forward to the opportunity to help bring innovative and high-quality products to Advanced EV's dealer network and customer base." Birju Patel, CEO of Advanced EV, added, "We're pleased to be working with Volcon on this initial test order. Their distribution capabilities and ability to move quickly make them a valuable partner as we explore new product offerings to serve our growing customer base." "This is the second multi-million dollar deal in the last five weeks," said Josh Rasmussen, CSO of Volcon. "We're excited to see the growth trajectory for Volcon and believe this momentum signals a strong future ahead." The Company also adds that it has resumed its share repurchase program. About VolconBased in the Austin, Texas area, Volcon was founded as the first all-electric power sports company producing high-quality and sustainable electric vehicles for the outdoor community. Volcon electric vehicles are the future of off-roading, not only because of their environmental benefits but also because of their near-silent operation, which allows for a more immersive outdoor experience. Volcon's vehicle roadmap includes both motorcycles and UTVs. Its first product, the innovative Grunt, began shipping to customers in late 2021 and combines a fat-tired physique with high-torque electric power and a near-silent drive train. The Volcon Grunt EVO, an evolution of the original Grunt with a belt drive, an improved suspension, and seat, began shipping to customers in October 2023. The Brat is Volcon's first foray into the wildly popular eBike market for both on-road and off-road riding and is currently being delivered to dealers across North America. In 2024, Volcon entered the rapidly expanding LUV and UTV market and shipped its first production MN1 unit in October 2024. The new MN1 and HF1 products empower the driver to explore the outdoors in a new and unique way that gas-powered units cannot. They offer the same thrilling performance of a standard LUV / UTV without the noise (or pollution), allowing the driver to explore the outdoors with all their senses. Volcon ContactsFor Media: media@ Dealers: dealers@ Investors: investors@ Marketing: marketing@ For more information on Volcon or to learn more about its complete eBike, motorcycle and side-by-side line-up, visit: Forward-Looking StatementsSome of the statements in this release referenced in this release are forward-looking statements, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, whether the full purchase order will be fulfilled and when the units will be delivered and when share repurchases will be completed. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. The Company has attempted to identify forward-looking statements by terminology including ''believes,'' ''estimates,'' ''anticipates,'' ''expects,'' ''plans,'' ''projects,'' ''intends,'' ''potential,'' ''may,'' ''could,'' ''might,'' ''will,'' ''should,'' ''approximately'' or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors. Any forward-looking statements contained in this release speak only as of its date. The Company undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting the Company is contained under the heading "Risk Factors" in the Company's Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC, which are available on the SEC's website, SOURCE: Volcon, Inc. View the original press release on ACCESS Newswire
Associated Press
27-05-2025
- Automotive
- Associated Press
Volcon ePowersports Receives Purchase Order from Advanced EV for 1,000 Golf Carts and Resumes Share Repurchase Program
AUSTIN, TX / ACCESS Newswire / May 27, 2025 / Volcon ePowersports (NASDAQ:VLCN) ('Volcon' or the 'Company')) the first all-electric, off-road powersports company, received its first purchase order from Advanced EV for 1,000 golf carts. This initial order will be used by Volcon to conduct market testing of a new golf cart model developed in conjunction with Super Sonic under the distribution agreement with Volcon previously announced in February 2025. The order represents a first step in exploring a broader relationship between the two companies. 'We're excited to supply Advanced EV with this test order and see it as a strong foundation for future collaboration,' said John Kim, CEO, Volcon. 'As an OEM manufacturing partner, we look forward to the opportunity to help bring innovative and high-quality products to Advanced EV's dealer network and customer base.' Birju Patel, CEO of Advanced EV, added, 'We're pleased to be working with Volcon on this initial test order. Their distribution capabilities and ability to move quickly make them a valuable partner as we explore new product offerings to serve our growing customer base.' 'This is the second multi-million dollar deal in the last five weeks,' said Josh Rasmussen, CSO of Volcon. 'We're excited to see the growth trajectory for Volcon and believe this momentum signals a strong future ahead.' The Company also adds that it has resumed its share repurchase program. About Volcon Based in the Austin, Texas area, Volcon was founded as the first all-electric power sports company producing high-quality and sustainable electric vehicles for the outdoor community. Volcon electric vehicles are the future of off-roading, not only because of their environmental benefits but also because of their near-silent operation, which allows for a more immersive outdoor experience. Volcon's vehicle roadmap includes both motorcycles and UTVs. Its first product, the innovative Grunt, began shipping to customers in late 2021 and combines a fat-tired physique with high-torque electric power and a near-silent drive train. The Volcon Grunt EVO, an evolution of the original Grunt with a belt drive, an improved suspension, and seat, began shipping to customers in October 2023. The Brat is Volcon's first foray into the wildly popular eBike market for both on-road and off-road riding and is currently being delivered to dealers across North America. In 2024, Volcon entered the rapidly expanding LUV and UTV market and shipped its first production MN1 unit in October 2024. The new MN1 and HF1 products empower the driver to explore the outdoors in a new and unique way that gas-powered units cannot. They offer the same thrilling performance of a standard LUV / UTV without the noise (or pollution), allowing the driver to explore the outdoors with all their senses. Volcon Contacts For Media: [email protected] For Dealers: [email protected] For Investors: [email protected] For Marketing: [email protected] For more information on Volcon or to learn more about its complete eBike, motorcycle and side-by-side line-up, visit: Forward-Looking Statements Some of the statements in this release referenced in this release are forward-looking statements, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, whether the full purchase order will be fulfilled and when the units will be delivered and when share repurchases will be completed. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. The Company has attempted to identify forward-looking statements by terminology including ''believes,'' ''estimates,'' ''anticipates,'' ''expects,'' ''plans,'' ''projects,'' ''intends,'' ''potential,'' ''may,'' ''could,'' ''might,'' ''will,'' ''should,'' ''approximately'' or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors. Any forward-looking statements contained in this release speak only as of its date. The Company undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting the Company is contained under the heading 'Risk Factors' in the Company's Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC, which are available on the SEC's website, SOURCE: Volcon, Inc. press release
Yahoo
22-05-2025
- Yahoo
Shawn Kemp lawyers claim bias in Tacoma Mall shooting case as trial nears
The Brief Shawn Kemp's attorneys have filed a series of motions relating to his first-degree assault charge from a 2023 shooting at Tacoma Mall. Kemp allegedly confronted two men with lengthy criminal histories after tracking his stolen phone, leading to a shootout captured on video. The trial begins next week, but police and prosecutors may dispute Kemp's self-defense claim. TACOMA, Wash. - The attorneys of Shawn Kemp have filed a series of motions in the case against him for a 2023 shooting at the Tacoma Mall. Kemp's lawyers claim his first-degree assault charge stems from an encounter involving two men with a lengthy criminal history, who allegedly shot at the former SuperSonic before he returned fire. The trial is scheduled to begin next week, with pre-trial hearings starting on Thursday. The backstory Kemp, who allegedly had his truck broken into, tracked his stolen phone using an app and confronted Dajuan Jackson and Joshua Puente. The ex-NBA star initially interacted with the accused car prowlers in the Emerald Queen Casino parking lot, where they dumped Kemp's items onto the side of the road, according to court documents. On the afternoon of March 8, 2023, Kemp once again tracked down Jackson and Puente, this time at the Tacoma Mall, where he made another attempt to recover his belongings. Kemp's attorneys claim Puente fired a round from a handgun at Kemp, and Kemp returned fire in an attempt to disable their Toyota. The shooting was captured on video. Tacoma police arrived at the scene and arrested Kemp. He was booked into jail and released a day later after no charges were initially filed. What's next Now, two years later, Kemp's defense has filed a series of motions in the case, citing bias and the criminal history of Jackson and Puente. Jackson is currently incarcerated at the Coyote Ridge Corrections Center in Connell, Washington, for shooting a man three times at a Renton gas station. Court documents state Jackson said in an interview that "he was running from Shawn Kemp" on the day of the shooting. Puente has previous convictions for theft, vehicle prowling, possession of a stolen vehicle, attempting to elude police, assault, and several more crimes in western Washington. "Evidence of Jackson's and Puente's bias, motivation to testify and Jackson's ongoing attempts to harm Mr. Kemp is exceptionally relevant," states a memorandum from Kemp's defense. While Kemp claims he fired in self-defense, police have not corroborated this claim, and said witness video shows otherwise. Prosecutors also say Kemp sent a text before the incident suggesting he may have intended to shoot someone. Kemp was charged over a month following the shooting with first-degree assault. The trial is scheduled to begin on Tuesday, May 27. The Source Information in this story came from court documents filed in Pierce County Superior Court, the Department of Corrections, and previous FOX 13 Seattle reporting. Tacoma cold case investigation yields no new evidence in Teekah Lewis case Nordstrom to go private after acquisition with family, Mexican retail group Marymoor Park announces 2025 summer concert series lineup in Redmond, WA Olympia, WA man dies at Grand Canyon after lengthy hike Washington raising price of Discover Pass To get the best local news, weather and sports in Seattle for free, sign up for the daily FOX Seattle Newsletter. Download the free FOX LOCAL app for mobile in the Apple App Store or Google Play Store for live Seattle news, top stories, weather updates and more local and national news.
Associated Press
17-03-2025
- Automotive
- Associated Press
Volcon ePowersports Reports Operational Highlights and Fourth Quarter 2024 Financial Results
AUSTIN, TX / ACCESS Newswire / March 17, 2025 / Volcon Inc. (NASDAQ:VLCN) ('Volcon'', the 'Company' or 'we'), the first all-electric, off-road powersports company, today reported its operational highlights and financial results for the quarter ended December 31, 2024 Company Highlights: As previously announced, in January 2025 we signed an agreement to be the exclusive distributor of Super Sonic Company Ltd.'s ('Super Sonic') golf carts in the U.S. Super Sonic is also our supplier for the MN1 Adventurer and MN1 Tradesman and manufactures their golf carts in Vietnam which currently has a 2.5% tariff compared to China's tariffs of 150% or more. Also as previously announced, in February 2025 we signed a golf cart supply agreement with Venom-EV LLC ('Venom') to supply Venom golf carts. Venom has placed an initial purchase order for $2.4 million. In the fourth quarter of 2024 we received the first HF1 UTV shipment which has a single row bench seat and a dump bed. We completed testing and began selling the HF1 in December 2024. We received the first prototypes of our next generation motorcycle, the FT1, in February 2025 and we are currently performing testing and will undergo regulatory compliance testing in the second quarter of 2025. We expect this model to be available in the third quarter of 2025. In November 2024 we initiated an At the Market ('ATM') equity offering. Through February 4, 2025, we raised net proceeds totaling $9.1 million from the ATM. On February 6, 2025, we raised net proceeds of $10.7 million from a registered offering of 6,000,000 units. Each of these units was sold at $2 per unit and each unit included one share of common stock (or pre-funded warrant) and a warrant to purchase one share of the Company's common stock at $2.00 per share. In March 2025 the board of directors authorized a share repurchase program whereby the Company can repurchase up to $2 million of its common stock at the Company's discretion. The share repurchase program expires in March 2026. John Kim, CEO, notes 'the Company has substantially changed over the last 12 months. We have significantly improved our balance sheet; we have no debt and have cash that we expect will allow us to operate into 2026. We have revamped our product line and will continue to look for new products to complement our existing products. The supplier and exclusive distribution agreements with Super Sonic will allow us to avoid the high tariffs that other golf cart OEMs are facing with products coming from China. The supply agreement and initial purchase from Venom is the first of what we hope are many more to come. It has been a lot of work to move the Company forward and I want to recognize the dedication of our employees who have embraced these changes to put us in a position to be successful' Financial highlights: 3 Months Ended Years Ended December 31, GAAP December 31, 2024 September 30, 2024 June 30, 2024 2024 2023 Revenue $ 986,916 $ 1,075,864 $ 940,863 $ 4,037,191 $ 3,260,988 Cost of goods sold (3,138,559 ) (10,294,720 ) (3,113,429 ) (18,168,288 ) (11,391,040 ) Gross Margin (2,151,643 ) (9,218,856 ) (2,172,566 (14,131,097 ) (8,130,052 ) Sales & Marketing 774,026 470,692 543,671 2,548,953 7,405,705 Product Development 519,483 528,352 805,550 2,668,330 7,868,985 General & Administrative 1,660,627 1,916,712 2,007,514 7,665,647 6,388,007 Total Operating Expenses 2,954,136 3,356,735 12,882,930 21,662,697 Loss from Operations (5,105,779 ) (12,134,612 ) (5,529,301 ) (27,014,027 ) (29,792,749 ) Other Income (Expense) (111,590 ) (1,503,866 ) 4,922,883 (18,496,282 ) (15,278,462 ) Net loss $ (5,217,369 ) $ (13,638,478 ) $ (606,418 ) $ (45,510,309 ) $ (45,071,211 ) The financial results presented herein are subject to change pending completion of the audit of the annual financial statements. Revenue: The Company's revenue for the fourth quarter of 2024 was $0.9 million compared to the third quarter which was $1.1 million, and the second quarter which was $0.9 million. Revenue for the fourth quarter includes Brat revenue of $0.4 million, Grunt EVO revenue of $0.3 million and $0.2 million for the adjustment of expired dealer rebates. Third quarter revenue includes Brat revenue of $0.3 million, Grunt EVO revenue of $0.3 million, Stag revenue of $0.1 million and $0.1 million for the adjustment of expired dealer rebates. Revenue for the second quarter includes Brat revenue of $0.2 million, Grunt EVO revenue of $0.3 million, Stag revenue of $0.2 million and Volcon Youth motorcycle revenue of $0.2 million. Cost of Goods Sold: Included in cost of goods sold for the fourth quarter is a charge of $2.5 million for the termination of the Stag and EVO supply agreements, offset by a reduction in the settlement for Torrot of 0.7 million and a charge for the write down of Grunt EVO finished goods of $0.3 million. Included in cost of goods sold for the third quarter is a charge of $8.7 million for the write-off of Stag parts inventory and prepaid deposits and $0.5 million for the write down of Grunt EVO finished goods inventory. Included in cost of goods sold for the second quarter is a charge of $1.1 million for a settlement agreement with a vendor who supplied certain suspension components for the Stag. Cost of goods sold for the second quarter also includes a charge of $0.4 million for the write-off of Stag tooling due to the limited profit expected on the Stag resulting in an impairment on the recovery of these costs. Absent the adjustments noted above, the Company's gross margin is trending close to break even. Operating Expenses: Our sales and marketing costs decreased in the third quarter as we were realigning our sales and marketing efforts and we increased our sales team in the fourth quarter to expand our dealer network and increase sales. Our product development costs declined since we no longer develop our vehicles which reduced prototype costs and payroll costs due to lower headcount requirements. Our general and administrative costs have declined in the fourth quarter due to lower headcount, an adjustment for estimated franchise tax expense and a decrease in insurance premiums that renewed in the quarter. The Company continues to focus on reducing operating costs while continuing to make investments in product sourcing and our sales team to continue to build our dealer network to generate sales of our new products. Net loss: Net loss in the fourth quarter includes the recognition of a loss of $0.1 million for warrants issued in our November 2023 public offering as these warrants were deemed to be liabilities and are recorded at fair value with changes being recorded in income. Net loss for the third quarter includes the recognition of a gain of $0.1 million for warrants issued in our November 2023 public offering and a loss on repayment of debt of $1.5 million for the repayment of notes issued in May 2024 that were repaid with proceeds from our July 2024 equity offering and interest expense of $0.1 million primarily for these notes. Net loss in the second quarter includes the recognition of a gain of $5.1 million for warrants issued in our November 2023 public offering and interest expense of $0.2 million primarily for the notes issued in May 2024. Adjusted EBITDA: Adjusted EBITDA for each quarter represents net loss adjusted to add back stock-based compensation, depreciation and amortization expense, interest expense, and the loss/gain on warrant liabilities. The Company's adjusted EBITDA for the fourth quarter was a loss of $5.0 million compared to the third quarter loss of $12.1 million and compared to the second quarter loss of $5.1 million. See 'Non-GAAP Reconciliation' below. For the latest Company updates, follow Volcon on YouTube, Facebook, Instagram, and LinkedIn. Investor information about the Company, including press releases, company SEC filings, and more can be found at About Volcon Based in the Austin, Texas area, Volcon was founded as the first all-electric power sports company producing high-quality and sustainable electric vehicles for the outdoor community. Volcon electric vehicles are the future of off-roading, not only because of their environmental benefits but also because of their near-silent operation, which allows for a more immersive outdoor experience. Volcon's vehicle roadmap includes both motorcycles and UTVs. Its first product, the innovative Grunt, began shipping to customers in late 2021 and combines a fat-tired physique with high-torque electric power and a near-silent drive train. The Volcon Grunt EVO, an evolution of the original Grunt with a belt drive, an improved suspension, and seat, began shipping to customers in October 2023 and sold out in March 2025. The Brat is Volcon's first foray into the wildly popular eBike market for both on-road and off-road riding and is currently being delivered to dealers across North America. In 2024, Volcon entered the rapidly expanding LUV and UTV market and shipped its first production MN1 unit in October 2024. The new MN1 and HF1 products empower the driver to explore the outdoors in a new and unique way that gas-powered units cannot. They offer the same thrilling performance of a standard LUV / UTV without the noise (or pollution), allowing the driver to explore the outdoors with all their senses. Volcon Contacts We believe presenting adjusted EBITDA provides management and investors consistency and facilitates period to period comparisons of operations, as it eliminates the effects of certain variations to overall performance. The following table reconciles net loss to adjusted EBITDA: Adjusted EBITDA 3 Months Ended Year Ended December 31, December 31, 2024 September 30, 2024 June 30, 2024 2024 2023 Net loss $ (5,217,369 ) $ (13,638,478 ) $ (606,418 ) $ (45,510,309 ) $ (45,071,211 ) Share-based compensation expense 15,079 10,053 287,751 310,961 2,627,925 Depreciation and amortization expense 92,568 72,332 99,517 362,138 249,207 Interest expense 33,417 83,334 196,997 643,716 4,969,590 Issuance costs - - - - 1,444,547 Loss from conversion and exchange of convertible notes 1,647,608 22,296,988 Loss on repayment of May 2024 Notes - 1,470,554 - 1,470,554 - (Gain) loss on change in fair value of derivative liabilities 94,413 (53,724 ) (5,111,291 ) 14,768,385 (13,473,218 ) Adjusted EBITDA $ (4,981,892 ) $ (12,055,929 ) $ (5,133,444 ) $ (26,306,947 ) $ (26,956,172 ) Forward-Looking Statements: Some of the statements in this release are forward-looking statements, which involve risks and uncertainties. Whether manufacturers of new products can deliver new models on a timely basis and whether such products can pass regulatory compliance and testing, whether tariffs will change for products manufactured for us in foreign countries, whether we can continue to reduce costs and whether we have sufficient cash to operate into 2026. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. The Company has attempted to identify forward-looking statements by terminology including ''believes,'' ''estimates,'' ''anticipates,'' ''expects,'' ''plans,'' ''projects,'' ''intends,'' ''potential,'' ''may,'' ''could,'' ''might,'' ''will,'' ''should,'' ''approximately'' or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors. Any forward-looking statements contained in this release speak only as of its date. The Company undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting the Company is contained under the heading 'Risk Factors' in the Company's Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC, which are available on the SEC's website,
