Ann: Annual Report to shareholders, page-11

Prefer more progress to be made in Indonesia over USA,
The Indonesian motorcycle industry is the third largest in the world after India and China, in which motorcycles are used
for private as well as commercial purpose use, including ride-hailing and delivery services. Currently, more than 120
million motorcycles operate in Indonesia, of which a small portion are estimated to be electric motorcycles, with the
numbers of electric motorcycles continuing to grow.
In addition, Vmoto will act as core technology partner of Charged Indonesia, providing all necessary technical assistance
to Charged Indonesia in relation to electric motorcycles
Huge market compared to the good Ole USA where they are tied to the hip to big cars.
Indonesia also a warm country unlike alot of the USA where some states have incredibly cold winters limiting buyers due to them not wanting to ride in cold and often dangerous conditions whereas open season in Indonesia........... Numbers will be bigger and even with lower profits per sale i'm sure will outweigh anything in USA. Thoughts??