CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This Quarterly Report on Form 10-Q (the “Report”) contains “forward-looking statements” within the meaning of Section 27A of the Securities Act, as amended (the “Securities Act”), Section 21E of the Exchange Act, as amended (the “Exchange Act”), and the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be preceded by, or contain, words such as “may,” “will,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “predict,” “potential,” “might,” “could,” “would,” “should” or other words indicating future results, though not all forward-looking statements necessarily contain these identifying words. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including, without limitation, statements about our future business operations and results, our strategy and competition. These statements represent our current expectations or beliefs concerning various future events and involve numerous risks and uncertainties that could cause actual results to differ materially from expectations, including, but not limited to:
| ● | our ability to obtain additional funding to market our vehicles and develop new products; |
| ● | our ability to produce our vehicles with sufficient volume and quality to satisfy customers; |
| ● | the inability of our principal vendors to deliver the necessary components for our vehicles at prices and volumes acceptable to us; |
| ● | our principal vendors failing to perform quality control on our products; |
| ● | the inability to obtain sufficient intellectual property protection for our brand and technologies; |
| ● | our vehicles failing to perform as expected; |
| ● | our facing product warranty claims or product recalls; |
| ● | our facing adverse determinations in significant product liability claims; |
| ● | customers not adopting electric vehicles; |
| ● | the development of alternative technology that adversely affects our business; |
| ● | increased government regulation of our industry; |
| ● | the risk of losing cash balances exceeding insurance limits held at banks; |
| ● | our ability to grow the rental services; |
| ● | our ability to maintain compliance with the continued listing standards of the Nasdaq Capital Market (“Nasdaq”); |
| ● | the changes or developments with respect to domestic and international customs, tariffs, and trade policies, corresponding or retaliatory actions by other countries and related uncertainties; |
| ● | tariffs and currency exchange rates; and |
| ● | the other risks and uncertainties discussed under the section titled “Risk Factors” beginning on page 51 of this Report and our other filings with the Securities and Exchange Commission (the “SEC”). |
Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. We undertake no obligation to update or revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed or incorporated by reference in this Report may not occur.
You should read this Report with the understanding that our actual future results may be materially different from what we expect. We qualify all of the forward-looking statements in this Report by these cautionary statements.
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