Accelerate the World's Transition to Sustainable Energy - to fight Anthropogenic Climate Change, page-30528

Looks like another one is about to go up in flames !

New YorkCNN —

Fisker, the electric vehicle company founded by auto designer Henrik Fisker, announced in its fourth quarter earnings Thursday that it might not have enough money to survive another year.

The company announced there was “substantial doubt about Fisker’s ability to continue as a going concern.” In order to have the cash to do business through the next 12 months, the company will have to raise more money from investors. Fisker’s stock was trading at 75 cents a share at the close of trading Thursday and dropped to a little more than 40 cents this morning.

The company is in discussions with an existing investor about possibly putting more money into the company, the EV maker said in its announcement. It will also lay off 15% of its workforce as it attempts to cut costs.

Fisker lost $463.6 million while taking in $200 million in revenue in the 4th quarter of 2023. That included a $325 million adjustment related to convertible notes. The company’s loss from operations was $103.5 million

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