Ann: Vmoto's 3Q23 Market Update, page-129

A couple of take aways.

Funding the new Factory:

Good to see them in a position to fund the construction without expensive construction debt finance that comes with a lot of time wasting and expensive hassles constantly verifying cost to complete.

Also to learn that when complete they will reboot the balance sheet with cheap debt of $7m and subsidies of $1.4m.

Cash Position:

Notice also the $28.1m was the cash balance @ 30 Sept after all the Capex minus debt.


Brazil and JV Assembly Plants.

Confirmation of the connection back to VMT of all AFD detective work in Brazil, and to learn they have appointed new distributors. Is the Thailand distributor the new Assembly plant JV partner. Interesting that they already have an assembly plant in Indonesia and one coming up in Malaysia and Thailand.


Thighland:

Graziano needs to hop over there and give them a few pointers on selling the dream.