Ann: Vmoto Acquires the Business and Assets of its UK Distributor, page-53

Worth noting that the UK distribution business didn't fail, It has a healthy retained earnings balance and has been funding its growth for the last 7 years with retained profits.

Its parent company Green Mo got into financial difficulties because it was following the the growth at any price (GAAP) philosophy and needed to keep raising capital to fund its losses while it built its share fleet to a critical mass that would cover its overheads. Unfortunately GAAP companies days were numbered when markets lost their nerve and hit the Risk Off button. Unburdened by all those start up and overhead costs the ride share business would also likely be very viable under new management if they follow the growth at a reasonable price (GARP) philosophy and trim their costs to a fraction of their revenues and fund growth with profits rather than funding losses with Capital.

Its pretty obvious that VMT is firmly on the GARP path and there is no evidence to indicate that they aren't very savvy deal makers.

Vmoto’s Managing Director Mr Charles Chen said, “This is a strategic acquisition that provides Vmoto with discounted assets and direct access to over 50 active B2C dealers in the UK, which is a large EV market for the Company, and will allow Vmoto to further expand its presence in the UK with an established management team.

Direct sales to the B2C dealers will also allow Vmoto to earn higher profit margins and focus on growing the UK market share with more focused support.”UK Distribution has been Vmoto’s exclusive distributor in the UK market since 2015 and has grown its sales to A$7.7 million (~GBP4.3 million) by 2022. It has also recognised the top sales by units of electric motorcycles/mopeds in the UK for several years.