I Read the Fisker 10-K | Here's What I Learned

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#fisker #ocean #suv #Electric #2024



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[fergman]

Man, you are such a great reader/public speaker. Off hand, what do you do for a living? Thanks for the insight and Fisker coverage. They should hire you for public relations @ Fisker.

[timoliver]

Outstanding work to get that out so quickly Adam. It certainly makes Hendrik and Geta Fisker look very amateur when it comes to operating a company……………… makes them look unfit to even operate a corner shop with their admitted poor financial record keeping and documentation procedures.
BTW are you aware that Norwegian EV reviewer TeslaBjorn is testing the Ocean Extreme this week and has put a heap of videos up on his channel and there are more to come too

[bernssss]

You rock - from reading every page of the user manual to now this. You are the most trusted source for my Fisker news fix.

[joceppi]

Great information!! Thank you so much for combing throught this document. Interesting that PwC has been Fisker's auditor since 2021... ugh.... going to visit EV OG to see if his symptoms of "Ocean [Sea] Sickness" are the same as mine. Thank you, again, for your time and dedication to keeping us informed!!!

[khalilshahyd]

Sounds like any strategy to save the company will be held hostage and contingent on placating Henrik's ego and his importance as designer

[Blayde]

Honestly everything about their plan to actually become lean as a company and transition to dealer model sounds like it would be great for them, should've done that from the beginning. Focus on delivering a good car and not becoming a distributor. Curious to see if they get a chance to pull off the pivot

[bsjtube]

Thank you for this rundown Adam. Subscribed. I'm expecting to take delivery of my FOE in the coming days. Excited and scared. I will be back here often.

[johnklaman]

Is there warranty coverage? I'm hostage to the ability of a technician to update my Extreme software. I am stuck at version 1.11. My service ticket sits in limbo along with a broken sunroof and no California functionality.
Service is understaffed. All owners of the Ocean depend on service continuing under the warranty.

[rightbackagain]

You continue doing an outstanding job on your videos! Thanks for keeping me and all of us Ocean people up to date, you explained it all very well….

[martinmikulik-geyh]

Adam - great job! Thank you!!! There are a lot of question marks on that company. But we will know just in a few days! For me, many things were not so clear before (eg. that Magna doesn't hold shares of the company, but an option on shares or that the 2025 Note holder converted more than a bln shares in the last months - maybe the selling pressure on the stock price didn't come from the bad short traders, it came from the investor selling his converted All in all the hope for a good outcome remains....

[ramonhurt]

I enjoy your presentation skills and thorough explanation of your Fisker experience. I can't say I'm rooting for Fisker, but hope you're able to keep driving your car as long as you like. Thanks for all your insights. Too bad you didn't wait for the new Model 3 Performance, it seems to be getting rave reviews and might have cost you less than your Ocean.

[jkywang]

Thx Adam. It’s like watching a slow moving train wreck. Though you already know the results, but it still sucks when it happened.

[stefanwalser]

thanx for doing this for us of a job"👍👍👍👍👍

[JasonJolo]

Appreciate all of your efforts! Liked and Subscribed. Cheers!

[JasonJolo]

For the Newbies: "What Is a 10-K?
A 10-K is a comprehensive report filed annually by a publicly-traded company about its financial performance and is required by the U.S. Securities and Exchange Commission (SEC).
The report contains much more detail than a company's annual report, which is sent to its shareholders before an annual meeting to elect company directors.
1. Some of the information a company is required to document in the 10-K includes its history, organizational structure, financial statements, earnings per share, subsidiaries, executive compensation, and any other relevant data.
2. The SEC requires this report to keep investors aware of a company's financial condition and to allow them to have enough information before they buy or sell shares in the corporation, or before investing in the firm’s corporate bonds."

[kelRGo]

This was an excellent job. I’ll subscribe 👍

[Musings-From-Mike]

Think about this: What car buying consumer is going to even be considering the financial health of the company when they start the process of buying a new car? Right up front i knew it could be risky to buy a Fisker, but all of the sophisticated marketing hid that risk we are all seeing now, and very evident in the report you so adequately revealed.

[sandniqqa]

Thanks for this Adam.

I also want to add that Magna employees assigned to the fisker project have been let go on Monday.
And FISKER employees at the magna facility are tasked with updating all remaining vehicles and then they will be let go.

I personally think it's a wrap.

[matpat]

You're talking points were the same as mine. One thing I think you missed regards the 2024 notes is that "Through the date of this report no amounts have yet been funded for the 2024 Notes." (Page 111). My understanding was the release of the first payment (and subsequent tranches) was subject to certain conditions pertaining to the OEM negotiations that fell through, and so the notes were never activated.

[typxxilps]

Hats off,
great work even though many will not recognice that it is a lot of work to get through that pile of paper and find the important parts worth to share.

I wonder about 20:03 and the warranties or the money they have put aside and if that money is still there and protected.