Good post mate and big supporter of your analysis, even early in November.
Is it possible that VMT need to develop the Vmoto brand because they earn no money from the Super Soco JV? This question is based on the cash balance which is basically flat quarter on quarter for a while now. It is basically some capital raises from the past and a business that is just cash flow positive, and incrementally grinding up - not consistent with 10,000+ motorcycles sold in a quarter. I think if the VMT business is selling 10,000+ electronic motorbikes into the international market in a quarter (that is massive!!) the cash surplus from units selling $5k+ should be more like $10-20m.
Can we discuss without it getting personal? Keen to understand if there were multiple $m spent on marketing.
I also note these quarterly updates from VMT are actually a copy and paste of previous reports almost to the word with some numbers updated, and mostly different shots from the same photo shoot reproduced. Very shoddy investor relations, in fact, bizarre.
Huge sales, actually massive on a global level, everything looks good on insta and Facebook with Super Soco, but I feel like I am missing something here.
(20min delay)