Arcimoto SEC Report for Q3 2023

Arcimoto has released the 3rd Quarter SEC report (3 months late):

https://s3.amazonaws.com/sec.irpass.cc/2532/0001213900-24-012237.htm

A reddit user did a great job of summing it up:

“In the quarter that ended in September (this was almost 6 months ago). They sold $1.1 Million dollars worth of stuff. They lost $14.0 Million dollars to do it. That's right - for every dollar they took in, they spent $12.73. This isn't new either. The company has been doing this poorly for their entire history. 
As of September they had only $232,000 on hand. That's 1.5 days worth of their losses. 

They have mortgaged everything and they are such a terrible credit risk that they are getting almost criminal interest rates. They got a six month a mortgage on their buildings/land and they are paying 20% interest plus another 10% in fees this year. The mortgage needs to be paid in full in this February.

They list a bunch of assets on their balance sheet but few of them are actually worth anything: Their buildings are, but those are mortgaged, the rest of the things they possess are specific to building Arcimotos, which hasn't worked out and won't likely be tried by anyone else. There is nothing there. 

They filed this report 3 months late. signed and filed by the CEO and the CFO who happen to be the same guy.”
 https://www.reddit.com/r/Arcimoto/comments/1apbgxp/q3_2023_10k_finally_released/