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Submit your questions for our September 28th live stream. Exro will share company updates and answer your questions.
My question is what are going to do when the new proceeds from the equity placements run out. ? At your current burn rate that will last only 2 or3 months. Looks like you are headed for bankruptcy before you get adequate sales. Looks like you need to sell the company or at least get a heavy partner to take over.
Will Exro coil drive have any future application in the aronotics field ? Drone driver or commercial electric flight
My question is on the list. Are you aware of the test track for semis and heavy vehicles in Auburn AL...A yes or no to firstname.lastname@example.org would be appreciated. As an Uber driver and Industrial Engineer, I would like to be considered if you ever need a vehicle tested in an area like Louisville KY. OK? I think your fireside answered this one, but verification would be appreciated. I have lost my rear in the stock but feel some better after the chat. Thank you for candid answers.
When will we be profitable?
Why don’t you just call the coil driver what it is? A digital transmission for electric motors?
What are the current estimates for sells in 2023 and 24?
When will the manufacturing plant be up and running?
have we started yet is this not a live event? I downloaded presentation but no audio
keep up the hard work
Can you touch on the reasons fir our poor stock price?
I recently read an update on Bosch's Inverter which appears to be able to change the torque/speed profile on the fly. Is this accurate? If it is does it represent a form of competition for the EXRO CD and are there any distinguishable differences? On a related note, to what extent is EXRO IP protected. Is it possible to create a competitive product with some slight changes to design? Thank you.
Cell Driver and ESS tech could be a wonderful opportunity for a colab with Enphase Energy. Just a thought! Good luck EXRO team, we believe in you! :)
Any other energy storage deals in the works?
Previously you said exro would not do exclusivity deals, what had changed to cause you to limit BCS in all of western Canada to only 1 small customer?
There have been very little information about how the Cell driver works as opposed to the Coil driver that may very well become the Gold standard of Inverters for electric motors. You have stated before that the Coil driver is agnostic and will work with any motor. Is that also the case with Cell driver that it can work with any battery bank Lithium, Solid state, Liquid , Lead acid, and very large Commercial storage systems. There are many large companies that have Battery management systems with existing patents, do Exro have patents on their Cell driver?
So many very serious questions and concerns! I hope EXRO can survive and ultimately flourish.
How close are we to full employment?
Can you explain the difference between fast AC charging and fast DC charging? Is it that the converter/inverter from AC to dc is internal to the coil driver compared to dc fast charging where you need a separate inverter outside the driver? Are we talking about semantics or a real difference in technology between fast AC vs DC charging. Please explain.
With all the EV companies which includes just about every car manufacturer out there developing all sorts of high efficient electric motors , inverters ,battery systems , etc . Do you see any thing coming up from any of those companies whereas Exro’s tech would not apply or may not be enough savings for Exro’s tech to be worth adding ?
Global Energy Storage Market Reports forecasting energy storage to be an approximately $100 billion market by 2030 - how much of this could potentially be addressable by Exro? And do you have long term goals for market share? Also how does production of these units fit in with the manufacturing facilities production capacity? And in regards to manufacturing, the facility is still on target to be commissioned by EOY correct? Is it safe to assume from then on smaller scale/bespoke production runs can be completed, before the stated launch of commercial non-auto production Q3 2023? Thanks!
Did management participate in the recently closed private placement? If so, to what extent? If not, why not?
What are some of the impact from the IC supply chain challenges? Would product standardization be of concern when implementing prototypes for varying customers and target markets?
- Given some of the aspects of the great resignation how has the hiring been going in the various facilities that extra has on the go? - Once we're all up and running how many employees will be employed at the Exro facilities? - Can you give an update on the lawsuit?
Exro has hired many new employees including executives over the past 2 years. I assume that most if not all received stock options. I also assume that the strike price of those options was close to the market rate at time of hire. If my assumptions are correct and the executives are enthusiastic about Exro’s technology & prospects, why haven’t more of them made significant purchases of the stock when it has lost half or more of its value since they joined the company? Thanks
Does the Exro BMS include hardware or design features when the battery is first built, or does it accept various second-life batteries?
2 Questions: 1) During the quarterly update, Sue made reference that the companies listed on the left side of the "potential customers" slide were their current partners. Can you shed any light on the partnership with Stellantis and if so, are they considering the Coil Driver for the Ram Revolution? 2) We know that your facility will not be automotive certified for some time, does that mean that a tier 1 manufacturer cannot produce them without that certification or can they produce them with a license agreement before your facility is automotive certified?
Question: Sept 27 IR released – UL certification news. An hour later: “We're proud to announce that Exro will be in attendance and presenting at this year's H.C. Wainright & Co. 24th Annual Global Investment Conference. the event takes place september 12-14 - virtually and in-person in New York City.“ Why lose the opportunity to deploy a real forward line of vision from within the IR?
Obviously we need revenue. When can we expect to receive revenue in the amount that is necessary to sustain profitability for Exro. Also sue do you expect to continue in your current position with Exro?...Thanks Armand
Was any part of SEA’s relationship with Exro at all contingent on Exro’s investment in SEA Electric? Seeing that Exro has needed to raise money twice this year by diluting shareholders at depressed prices, it doesn’t seem right to me that you would take investors’ capital and invest it in other companies.
What happened to the Heinzmann commercialization that was supposed to happen last year? What happened to the Potencia testing that was supposed to be completed last year? When will Exro sell a coil driver? When do we start running?
How much more capital will be required to get to a cash flow positive position? What is your plan for further equity raises in terms of number of raises and value of those raises will management be raising capital numerous times at smaller values or fewer times at larger values? Are you considering selling the equity stake in Sea to avoid further dilution and if no why not? What avenues are being taken to avoid further equity raises at this very low share price, are there any realistic options other then diluting shareholders? 2022 was supposed to have been the turning point for shareholders yet the only turn seems to have been down, why is this and what is management doing to improve returns for shareholders? Looking at the recent private placement, only a minute fraction of the capital came from management, yet at the same time members of management were actively exercising options at $0.20 and selling hundreds of thousands of shares on the open market when the private placement was nowhere near fully subscribed. What should existing shareholders read into managements continued selling even at these rock bottom prices and why was it acceptable to undermine Exros fund raising with insider selling? Assuming you also find that unacceptable what will you commit to doing to ensure such an event does not take place again?
Potentia Motors has been testing the Coil Driver for a long time. Was their test successful and if so, will they be sending EXRO a PO? Is Motorino electric bikes and Zero Motorcycles still testing the Coil Driver for potential application to their products?
1. What is the progress on Potencia (testing/revenue), Zero (testing), Heinzmann (joint offerings/has the relationship changed?), LAND (?), the European NDA (further details), SEA (testing) and Linamar (delivery/testing)? 2. When will further details on the BCS (specs, partnerships, results) be released? 3. When can we expect to learn more about the new T1 strategic partnership? 4. From Linamar's latest release regarding a new eAxle system contract with the Workhorse Group, is it safe to assume that any time the eLIN group is mentioned, Exro is intrinsically involved in some capacity?
Is the patent infringement suit being resolved in your favor? And….if this is great EV tech why aren’t major EV makers buying? Stock is tanking, NASDAC upgrade nowhere in sight and stock share value diluted. Give me a solid reason to hold ant longer.
1.) are you confident that the $10m raise is enough to propel us to our goals without additional near term financing? 2.) what has been the biggest hinderance to growth?
What’s the status of the Coil Driver eAxle prototypes delivery planned for Q3 – 2022? Are they being delayed? If so, why?
1. The company has been hiring a large number of highly qualified professionals, increasing significantly its payroll. 2. The company has also invested in a 100 000 units factory and is getting close to commissioning it. 3. The company cash position in August was tight. Yet, the capital raise was for $10M only. Should we understand this latest decision to limit the raise to $10M to be a bullish move from Exro and that management anticipates large POs soon which will cover its future cash need and ensure the company’s continuity and growth? Or was the $10M limit dictated by the market?
Good morning, I have followed exro since 2020 and have notice the company making large investments in its facilities and man power which seem to be coming together. My question is how can you reassure shareholders that you are on the right track and that this is the right time to make these huge investments? Thank you Mark
How do I view event?? How do I tour facility
I recently sent a letter asking two simple questions...no answer! 1) Is your team aware of the truck test track in Auburn/Opelika AL area? They are testing asphalt but it would be compatible with your purpose. 2) I drive 35,000 miles per year with Uber/Lyft. Will you test a vehicle in this type service? I would like to apply! Thank you.
There is lots of competition for eyeballs for early stage companies in this area. Trade shows in my opinion generate little value. In my experience, EXRO needs a credible large investor to make a large investment in this company. What avenues have you pursued to find this type of large backer? Thank you
What do you think the executive team could be doing better from a leadership standpoint? what objections has your team received from partners?
What is the rationale behind model numbering? It seems not intuitively fit any pattern of power rating or is there something else that is dictating that choice?
As regards Carbon Credits will the system attract these and who will benefit from these credits, will they be for the benefit of the company or the farmer user and will the income from these credits be substantial Will the company be employing a specialist in the Carbon Credit business?
What does your future look like for manufacturing and sales
How do Sue and Mark have time to work on Naqilogix when they should be dedicating their time to what appears to be a failing Exro (based on the dwindling market cap)?
Will the coil driver become a technology available for industrial applications? There have been instances in my career where debating the pole count comes into play, and there are machine lines that require to run heavy products slowly and light products quickly. It seems the coil driver could simplify a lot of engineering design choices and add flexibility in manufacturing.
WHEN WIILL YOU ACTUALLY SELL SOMETHING? (1'M LOSING MY SHIRT ON YOU STOCK)
What is the current cash burn rate, and given the small capital raise, will the cash burn lessen going forward?
Has the recent decline in the value of the Canadian dollar versus the US dollar had a negative effect on Exro?
Is Exro currently in active negotiations with potential licensees, and, if so, will Exro be embedding it’s employees with the licensees.
Why does the share keep going down when the company seems to be moving forward
What is preventing exro from being bought out by a major supplier for pennies on the dollar (our current SP)? The current market cap is a rounding error for a large automotive company capex to buy on a whim as an R&D project. If exro is truly in place to become the gold standard for power electronics, have you been approached with buyout offers?
Can you frame a commercialization path / revenue IF everything goes as planned? Or is it too soon with NDAs to calculate a total addressable market? Although you just raised funds, what is your expected need to raise addition funds to reach internal/self funding? Any update on the patents law suit?
2 questions: 1) Can you give some detail and update on Coil Driver supports AC Fast Charging? If I understand the statement in the Corporate Deck, this means Coil Driver technology could speed the charging progress if you are getting your EV charged at a modified charging station using this technology? if so, this is HUGE, as this is one fo the 3 main issues with EV's...speed of charging and range. 2) Please give a more detailed update on Linamar than what is in the Corporate Deck. "Revenue in 2023/2024" is really vague.
I am expecting a Potencia positive update. and also one for Linamar. It has been too ling for next to no news about orders to fill the Calgary facility. Please,
Where are the legal issues at?
Portencia Industrial....... Is it real, or is it Memorex?
Why like Tesla and other EV manufacturer does not contact for technology which are 20% more efficient? When we can see the real production of this technology?
Will we see all of your responses to all the submitted questions
Thank you Sue for your amazing leadership. Appreciate you for being transparent and providing regular updates to the shareholders. I am hoping that you will be EXRO for long term. Looking forward to the update. Have a great weekend everyone!!
Why is the stock price so low for Exro? I see nothing but good things at the perfect time for them.
Have we made any headway with any larger car companies. With the technology claiming to be 20 percent more efficient why are we not getting the big companies interested.
This is a technical question regarding the wiring of electric motor coils necessary to work with the Coil Driver. Is it simply a matter of crimping the wire ends into more, smaller bundles (instead of the typical three bundles) or is there a more fundamental change to the motor manufacturing process required? i.e. How difficult will it be for an electric motor maker to adapt their manufacturing process to be compatible with your Coil Driver?
Have you done any testing with in-wheel hub motor automotive designs? I'm curious about the possible gains in efficiency for that type of system. In particular, Aptera Motors is designing a high-efficiency solar EV, partnering with Elaphe Propulsion Technologies, and both could benefit from further increases in efficiency.
Exro is involved in a Court case involving infringements of the patents of other companies. Why has not Exro Technologies given their shareholders regular updates on the proceedings of the court case?
1. Update on Exro-Linamar e-axle? 2. Update on infringement litigation? 3. Updates on sales- revenue? 4. Update when Exro will be full production at its facilities?
Just wanted to wish God Speed and hope everyone remains focused, team maintains positive attitude and we can climb out of this inflationary environment with multiple T1's! As we can see from all the questions, fellow investors, myself included, are very emotionally and finantially invested in the company. Hoping that our customers do not hold us hostage any longer (Rant Alert!) and just let the world know that CD's are in style! :)
Technology that can improve EV motors to almost 20% and not use any gears for torque conversion, this is huge deal for auto ev makers. Why is these big auto makers such as tesla, ford, gm, NOT knocking on your door for your technology?
i am interested in your product progression but have difficulty in contacting your marketing group
How many more money raises do you see down the road?
I first purchased shares at 30 cents and have added to that original amount. I believe that I did invest in a great Canadian technological company. Some of the funding ‘events’ have caught me a bit flat footed, and I should have waited to add to my total. Working in an industry (refinery operations) which uses a lot of fixed speed electric drivers, I THOUGHT I could see a great potential for coil driver technology for any company which uses fixed speed electric drivers for varying loads. 1) Is this a direction that the research part of the company is investigating? 2) Does Management see transportation as the main driver of income? 3) WHEN does Management see revenues funding the technological growth of the company? 4) Could Management provide the shareholders with a comprehensive list of the current and future coil driver applications and the status of each? (Active, Next up, Long term).
When do you reasonably project more significant revenue in the EXRO COMPANY?
I’m holding several shares of Exro Stock right now. Are you Ever going to give some real information on some big PO or keep dangling the carrots 🥕 in front of us. We need to see something other than are share price falling. Will you share something that is meaningful.
been a shareholder since the month Sue joined the company. I want your best estimate of volume for the fiscal year ending Dec 31 2025 with a breakdown of Calgary CD production, Calgary BCS production, Mesa contribution and licensing income. Thank you my son and I now hold approx 200K shares and still adding Murray Gardner
Would you auction off the exro humvee for finding?
Why are you hiring so many presumably well paid staff when you seem to have little cash and even less orders?
Hello Sue and all, with the completion of multiple models of vehicles utilizing the Coil Driver technology, what is the possibility of publicly taking to the market and engaging in side-by-side comparisons with similar companies on large journalistic broadcasts via the news and youtube-like medium? Will we soon have the chance to see the Hummer evaluated next to a Rivian and F-150 in (likewise with the Ranger & SRS/XPZero/XRZero with Zero and Polaris)? It could be unofficial if collaborated with YouTubers that have taken delivery of those respective vehicles (NowYouKnow/Disruptive Investing, etc.). In a previous interview from Q1 2021, I remember there were goals to possibly pursue formula E racing, e-bike races, off-road competitions like the Baja 1000, and others, would you all still be confident in possibly competing or showing off in events like that?
The latest raise of 10 Million seems low vs. cash burn rate and publicly known revenue estimates. Can you state if the reason for this? - Does this indicate all that is required to get to a self funding state? - Do you expect enough information to be released that the Share Price will will increase significantly enough that the next financing will be at higher Share Price levels - Is debt financing or other non-dilutive partnerships a viable alternative option to further dilution if secured by orders or commitments (inside or outside of NDAs?) Some discussion/Fear regarding NASDAQ is that EXRO may do a reverse split to try to achieve the $2 Share price threshold. - Is this a consideration? - With the preliminary acceptance, is $2 still a requirement? - are there any other requirements that would still need to be satisfied to uplist? In the last news release, you stated an underestimated scalability of EXRO's revenue ramp. - Can you provide more details to enable Analysts and investors to better estimate revenues and 'revenue ramp'? - Are you able to give a hypothetical example of an order or order size and what that would mean to EXRO's bottom line? - The market didn't seem to move much on the latest SEA announcement; Can you give a ballpark for what kind of revenues that agreement would mean for EXRO? What kinds of protection does EXRO have in place to prevent a hostile takeover attempt with the SP at such depressed levels? Finally, the available coil driver literature seems to be mostly directed to a technical audience. Many retail investors would benefit from a laymans version of the information. Is EXRO working on anything like this that could help current shareholders to spread the excitement to others. It would be great to be able to send links to this kind of literature to others.
Top two topics in all chat boards...when will EXRO GENERATE MEANINGFUL REVENUES and DOES EXRO HAVE ENOUGH MONEY IN THE BANK IN ORDER TO GET TO MEANINGFUL REVENUES?
Status of the Linnar partnership - when will we know if it will lead to revenues and the potential? Cash burn. How long will the recently raised $10m last given Exro's aggressive expansion of the workforce?
Could you put together a guide book for converting vehicles to electric, and a kit for each model. One could be available for the humvee? Jeep off-road groups? after market installed by certificated mechanics. Run a course for mechanics on service of your product... Help acceleration of adoption.
i) when do we get the test results regarding the coil driver (linamar, potencia, etc.); ii) do you still expect 4 deals till the end of the year; iii) how does the recruiting impact the cashposition; iv) when do you expect massproduction for CD; v) when do you expect massproduction for BCS. Thanx!
Since I first looked at EXRO, the CD has received the majority of attention from investors, interested parties, and specially EXRO. The conversation has been mostly focused on Tier 1, OEM, and NDAs surrounding the CD. With the BCS ready for prime time once UL certification is received (1) Which "verticals" are you targeting (2) Are supply chain issues impacting the production? (3) How soon will we start to see deployment/sales (4) Having the CD and BCS under the same "tent" has not given the BCS the "exposure" it merits. Would a new division exclusively navigating the BCS to markets be something you would consider? There may be some overlap between the two (packaging or leasing it to those that purchase an EV with the CD integrated) but not enough to merit keeping it under the CD shadows.
with the numerous testing and poof of concept trials can you give some highlights in the words of companies that have completed testing
With all the macroeconomic uncertainty and the low share price, what is your timeline looking like in regards to the NASDAQ uplifting?
what'the story with the chairman's insider sell
1. Do you agree with the production numbers, dates/quarters of delivery and as well as the anticipated revenues found in the recent Technical Analysis by 4Front Advisory? 2. There has been some discussion regarding Bosch's new EV Inverter. I understand it to be a very sophisticated standard 3 phase vs Exro’s Coil Driver. Can you discuss? 3. There has been concern raised regarding the $10M recently raised, particularly regarding the small amount. It is hoped that the limited raised amount ($10MM) is based on projected revenue? Do you agree? If not, what alternatives are there to fund the company’s operations in the coming months? 4. Is the Surface Mount Technology ("SMT") and Printed Circuit Board ("PCB") “up and running” (sorry, my layman’s term)? If not, what is the anticipated completion date: Weeks, Months, Multiple Months.? 5. There was a NR on Feb 4, 2021, saying LAND motorcycle would receive a Coil Driver in Feb for integration and validation by end of 2Q 2021, with volume of up to 2000 units in the first year. What happened, or is happening, with the LAND project? 6. Is the release of the dAxel for Linamar’s ‘extensive dymo testing that was scheduled for September 2022 on schedule?
Which type of NDA's are chronologically expected?
When will stock be uplisted to nasdaq?
What actual kW charging speeds are you able to achieve with AC Fast charging? You have previously mentioned “level 4” but the industry refers to Level 1 as normal 120 volt Wall Outlet, Level 2 as 240 volt outlets, and Level 3 is anything above usually referred to as DC Fast Charging. This could be as low as 50kW and much higher like Xpeng’s G9 having about 480kW charging at the start of the curve on 800 volt architecture. I would like some actual numbers and examples shown so I can understand what problems the Coil Driver Charging will solve.
What is stopping giant corporations like Siemens, that have several decades of experience in power electronics for all types of applications, from developing products similar to Coil Driver and scaling it up to a level that makes it more cost effective than Exro's product line?
How generic will the coil driver be across customer solutions? Will you make different form factors to suit specific customer requirements?
Based on the current status of your partnership, do you expect the second Tier 1 supplier that Exro is working with to allow their NDA to be lifted before the end of the year? Does Exro have a plan in place that would facilitate another capital raise in the next 4 to 6 months without causing significant dilution, given the current trajectory of the share price? I.e., should revenues not be sufficient to fund operations into H2 of 2023, how will the risk of dilution to long-time shareholders be mitigated? Thank you!
There's a Ford Mustang featured in an EXRO testing bay on the Q3 report. Does that signal that Ford is actively testing Coil Driver?
Will we ever catch the carrot? Seriously, every company that you are dealing with cannot all be under NDAs. Why is there so little news?
When should we expect news from the epropel lawsuit?
Law suit/counter suit update?