Supporting evidence

• LedgerWeak quarter based on: Recurring losses from operations · Accumulated deficit · Substantial doubt about going concern.
• EventGoing Concern Doubt
• EventRecurring Losses

• EventAccumulated Deficit
• EventPositive, as it secured additional financing and increased the value of Series A Preferred Shares.
• EventPositive, as it increased shareholder's equity and converted debt instruments into equity.
• EventPositive, as it removes a significant regulatory hurdle and allows normal trading to resume.
• InitiativeAnnounced, effective date delayed, subject to Nasdaq approvals. Indicates ongoing efforts to meet listing requirements.
• InitiativeOngoing effort in response to market shifts, with the California operations consolidation being a key part.
• InitiativeCompleted, with the new facility housing various key functions.
• InitiativeContract secured, manufacturing of first buses substantially complete, deployment scheduled for September 2025.
• EventGoing concern risk due to recurring losses and accumulated deficit