#18: New Shares, Pauli, Startup Trail
Have a great Sunday!
The week returns to normal after the Easter vacation; things are getting more hectic again. Sono has announced the issuance of new shares on NASDAQ in New York to collect another part of the missing money. Many stocks lost in April - it's not the best environment, but as the great stock market expert Frank Sinatra says about New York, "If you can make it there, you can make it anywhere.".
+++ DATES +++
Sono is growing rapidly, with new employees starting every week. With all the issues, it's easy to lose track. A lot has happened in the last few months:
July 2021: adjustment of critical technical data (54 kWh LFP battery, 305km range, longer front end).
October 2021: new price from reservation 16.000
November 2021: IPO
April 2022: Valmet becomes the contract manufacturer, adjustment of volume planning 2023 (unfortunately) and announcement of the new price for new customers from reservation 18,500
Now that the Oktoberfest in Munich is allowed to take place again, it will probably be possible to have the entire program of test drives in the summer. There were 7,000 test drives at the first ones; the mark wants to be cracked.
The following dates in 2022 are: 37 pre-series vehicles and bodyshells ("Series Validation Vehicles") will be built at Bertrandt in Munich for testing, development, crash tests, and test drives. After that, all the data and components go to Valmet in Uusikaupunki, preparing for series production.
+++ FRESH MONEY +++
On 26.4 (Tuesday), Sono announced that they intend to issue more shares in the subsequent financing round. 10. million shares plus - as with the IPO - a greenshoe of 1.5 million shares. Since Friday, it has been known that the shares will be issued at $4.
The new shares assist in financing the 275 million euros still missing until the start of production. Sono is gradually raising the money that is still needed.
+++ CHEAT SHEET +++
At the Nasdaq, there are always abbreviations so that the inclined prospective customer can recognize directly what was published. Here is a small list:
10-K is the annual financial report, which provides a comprehensive analysis of the company's financial position. On the other hand, the traditional annual report has more colorful slides and explanations.
10-Q is the quarterly short form (to the Earnings Call).
8-K includes essential developments between the 10-K / 10-Q releases.
When issuing new shares, the "F-1" Filing is interesting; it contains everything relevant to the company, its business and risks, and background info on the management.
You can then apply what you've learned here:
https://ir.sonomotors.com/financial-information
PS: Please do not take this as an incentive to get into stock trading. Everyone must know that for themselves. This is only about understanding how it works at all.
+++ EARNINGS CALL +++
If you want to see how an "Earnings Call" works, you can watch the presentation and questions with Laurin, Torsten, and Thomas here.
https://edge.media-server.com/mmc/p/khxv99aw
+++ PLUS/MINUS +++
The week's most positive news can be found at "ShareDeals":
"Sono Motors: The biggest risk is averted!”
https://www.sharedeals.de/sono-motors-das-groesste-risiko-ist-gebannt/#gref
The worst review of last week is (again) from "Ningi-Research" (the anonymous Twitter critics).
"11.5 million shares of an EV manufacturer that has yet to generate any sales.... just crazy... we don't even have to publish our follow up report anymore."
https://twitter.com/NingiResearch/status/1519064408110075911
By the way, Ningi is a made-up word from the novel "Hitchhiker's Guide to the Galaxy"; it is a triangular rubber coin worth one-eighth of a Triganic Pu.
https://hitchhikers.fandom.com/wiki/Ningi
+++ COMMUNITY +++
One of the first - and oldest (86) - Sion reservers is good Pauli from Finland. Now that manufacturing is done in Finland, he was interviewed by the Finnish press:
https://www.hbl.fi/artikel/pauli-ahvonen-86-har-vantat-fem-ar-pa-elbilen-sion/
+++ ENGINEERING +++
Thanks for your questions! I had the first call with Philipp on the topic; there was even a mini video on Linkedin about it. Somehow it's gone. User (and critic) "EVNews4" took some screenshots and is not very impressed by the presses and thinks it should be further.
https://twitter.com/EVNews4/status/1519319589544513537
+++ CLEAN ELECTRIC +++
Clean Electric looks at the new energy-efficient "Mercedes EQXX" study and the new Smart #1 SUV, among other things, in episode CE 147.
At minute 1:42, the Sion is briefly mentioned in connection with solar roofs on EVs, CW values, tire size, and die-cast aluminum parts. The Sion is sorted out to the top in terms of solar yield. It's becoming clear that solar yield is something. It's slowly getting into people's heads that Solar Electric Vehicles can be helpful.
Thanks to Kay for the reference and link.
https://podcastaddict.com/episode/138752783
+++ COUNTER +++
Reservation holders as of April 1st: 17,097
Reservation holders as of May 1st: xxx
https://website.sonomotors.com/de/about-us/
(at the bottom of the page)
+++ FUN FACT +++
Sono's path from 2015 to today has certainly been unusual. Did you know that in 2021, only 2% of global venture capital went to companies led by women? Or that over 330 billion (!) euros went to startups in 2021, more than twice as much as in 2020. And also, location matters. Some decisions still hinge on more than just talent and ability.
If you want to learn more about this, you can try being a CEO in a bit of a browser game: it takes less than five minutes, and you know a lot about the influence of environmental and social factors on a company.
https://startuptrail.engine.is
Stay healthy!
Sebastian, Asti, Andreas.