Aptera's June 30, 2024 Semi Annual Report

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[davidtiemeyer]

Great financial summary. Thanks for doing the legwork to bring this to the attention of the community along with Finances 101 schooling..

[DemaGeek]

Thanks for the financial report breakdown Steve.

[charlesbeane]

I just realized I went on a rant below but I never thanked you for your balanced analysis. I found it very informative.

[barnabasseadog]

Thanks for the analysis. It may seem precarious but this us the life of a startup and Aptera continues to move forward. The two co-CEO's previous experience is making a difference. I imagine they are placing huge bets on two things, that the PI builds once on the street and proving validation will attract enough investment to get to production, and who wins the U.S. presidential election.
We are entering a critical time on so many levels.
The sun shines on Aptera. SUN AAY !

[TonyG_Film]

Thanks for the summary. No news about the $60 million is making me sad. Not feeling optimistic.

[johnmalcom]

Important report because it is a reg compliant, public, reveal of true company health and of course, as AOC states, a primary doc for professional investors to track. Upside, Aptera is doing a good job of controlling expenses as they have done consistently. Downside, slowdown of work and slip in schedule. Not so great at generating capital. Behind the published schedule for raising the $60M.

[johnt]

Some large investors might be waiting until after the election.

[charlesrobertson]

I thing Aptera is listening to you. They just changed my delivery date from H12025 to 2026. It's getting to be a long term prospect.

[namenotshown]

The cash on hand, is invested and acrues interest, that is income. The income on that should be listed in the filing. It should be considerable amount, you missed that.
Maybe it is there only source of income currently. $400, 000 in interest it says, thats income. And not insubstantial. They also say 500, 000 from california energy commission ( matched grant scheme)

[micbroc]

Aptera meeting a self imposed deadline, the 8th wonder of the world.

[bobhellman]

Some time ago they said they ordered the lighting package.
Believe it was at the same time they started the seats.
Any update on this?
Hope is that when they run the range tests they have all of the significant production aero-bits in place.

[gbpg]

6:22 at the bottom. It states in June they received $13.1 million from selling shares. So without that they would be bankrupt, no? Or do they now have $29 million at the end of June?

[debrariat]

supposedly they are going to make 50 cars soon. I am guessing these cars will not be made with the manufacturing equipment they need 60 million to purchase. BUT, making 50 cars does mean you are in production and isn't "in production" the metric needed to borrow money, or get money from that huge government fund they were talking about last year? So I am thinking they will make this first 50 cars as another avenue to get money for production. When I log on to Aptera I now have a final ranking from the accelerator program, and also according to Aptera I am to receive my vehicle in H1 2025

[adimchionyenadum]

Not a bad report at all. Thanks for sharing.

[O-cDxA]

Steve, I appreciate your constant detective work on Aptera.
At this point in time, can I get my investment back in full ? After reading some, it looks as you can't.
Is there a (non personal ) email we can reach you at ?

[grdvd]

Trivia… initially the minimum US-C fund investment was $100k, then within the following month it was lowered to $50k. It kinda punctured my hope/expectation that they had a stable of investors at-the-ready… reinforced by their initial projection of reaching the $60M goal in 30-60d, then in August 60-90d.

[artsmith]

That stable cash balance was maintained with $6 million crowdfunded donation at end of June. Now no crowdfunded donations.

[charlesbeane]

What stands out to me is they have gotten a lot smaller. They are operating at less than 50% of last year. Sure it means they are slowing their burn but while I normally like reductions in G&A, R&D reductions are a death knell. Looks like they are going on life support until sugardaddy shows up. That's all that's going to save them.

[RomanChaar]

September 19th the files a SEC statement labeled “progress update” they stated the sold 5 million dollars of class B stock. So 8% of their $60 million goal.

[johnt]

Aptera started an “accelerator” program when they were in abu dhabi, i wonder how that went. Does anyone know?