Wednesday 20 March 2019

SOLO Is Fully Funded And Will Not Be Seeking Financing Per CEO

As Electrameccanica Vehicles Corp. (SOLO) is hot again, I have read many bearish arguments stating that the company will be financing. I have gotten confirmation from CEO Jerry Kroll that this is not the case. Here is a screenshot of my conversation with him, with his exact words being:

"Electra Meccanica is fully funded and not seeking an equity capital raise for the foreseeable future."

I am merely sharing his statement and I do not make any guarantees that his opinion will be right. But after speaking with him, I have a certain level of confidence that SOLO will be a great speculative investment in 2019 and I have to give the benefit of the doubt that what he is saying regarding no need for financing will be true. We will see for sure in coming quarters when operating cash flow/burn becomes apparent. I am long SOLO warrants trading under the symbol SOLOW and I intend to hold at least some of the warrants to $10 on the stock which makes the warrants intrinsically worth $5.75. The warrants expire in 2023 so there is a lot of time left for this cheap leveraged upside. You can see my opinion on Seeking Alpha about SOLO as an investment and the opportunity on the SOLOW warrants: