Workhorse Group Inc
For the period ended Mar 31, 2024. Filed May 20, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 20, 2024
WKHS$3.32+7.4%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets
| March 31,2024 | December 31,2023 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $6,728,430 | $25,845,915 |
| Restricted cash | — | 10,000,000 |
| Accounts receivable, less allowance for credit losses of $0.2 million and $0.2 million as of March 31, 2024 and December 31, 2023, respectively | 1,767,887 | 4,470,209 |
| Inventory, net | 49,852,378 | 45,408,192 |
| Prepaid expenses and other current assets | 7,293,787 | 8,101,162 |
| Total current assets | 65,642,482 | 93,825,478 |
| Property, plant and equipment, net | 38,537,214 | 37,876,955 |
| Lease right-of-use assets | 9,513,950 | 9,795,981 |
| Other assets | 176,310 | 176,310 |
| Total Assets | $113,869,956 | $141,674,724 |
| Liabilities | ||
| Current liabilities: | ||
| Accounts payable | $14,229,542 | $12,456,272 |
| Accrued and other current liabilities | 6,652,042 | 4,862,740 |
| Deferred revenue, current | 4,689,581 | 4,714,331 |
| Warranty liability | 599,227 | 1,902,647 |
| Current portion of lease liabilities | 3,416,636 | 3,560,612 |
| Warrant liability | 3,937,540 | 5,605,325 |
| Current portion of convertible notes | 7,874,051 | 20,180,100 |
| Total current liabilities | 41,398,619 | 53,282,027 |
| Lease liabilities, long-term | 5,047,565 | 5,280,526 |
| Total Liabilities | 46,446,184 | 58,562,553 |
| Commitments and contingencies | ||
| Stockholders’ Equity: | ||
| Series A preferred stock, par value $0.001 per share, 75,000,000 shares authorized,zero shares issued and outstanding as of March 31, 2024 and December 31, 2023 | — | — |
| Common stock, par value $0.001 per share, 450,000,000 shares authorized, 330,791,980shares issued and outstanding as of March 31, 2024 and 285,980,843 shares issued and outstanding as of December 31, 2023 | 330,792 | 285,981 |
| Additional paid-in capital | 847,817,018 | 834,394,441 |
| Accumulated deficit | (780,724,038) | (751,568,251) |
| Total stockholders’ equity | 67,423,772 | 83,112,171 |
| Total Liabilities and Stockholders’ Equity | $113,869,956 | $141,674,724 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.