Workhorse Group Inc
For the period ended Sep 30, 2024. Filed Nov 19, 2024.
View on SEC.govAbout this filing
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.
Sep 30, 2024 · Filed Nov 19, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Stockholders’ Equity
Condensed Consolidated Statements of Stockholders’ Equity
| Common Stock · AdditionalPaid-inCapital** · AccumulatedDeficit · TotalStockholders’Equity | |||||
|---|---|---|---|---|---|
| Numberof Shares** · Amount** | |||||
| Balance as of June 30, 2023 | 10,261,058 | $10,261 | $783,043,235 | $(675,665,775) | $107,387,721 |
| Common stock issued for securities litigation settlement | 1,269,036 | 1,269 | 19,998,731 | — | 20,000,000 |
| Common stock issued through At-The-Market offering | 1,231,961 | 1,232 | 12,496,672 | — | 12,497,904 |
| Stock options and vesting of restricted shares* | 7,052 | 7 | 8,369 | — | 8,376 |
| Stock-based compensation | — | — | 3,520,404 | — | 3,520,404 |
| Net loss for the three months ended September 30, 2023 | — | — | — | (30,645,712) | (30,645,712) |
| Balance as of September 30, 2023 | 12,769,107 | $12,769 | $819,067,411 | $(706,311,487) | $112,768,693 |
| Common Stock · AdditionalPaid-inCapital** · AccumulatedDeficit · TotalStockholders’Equity | |||||
|---|---|---|---|---|---|
| Numberof Shares** · Amount** | |||||
| Balance as of December 31, 2022 | 8,280,268 | $8,280 | $736,227,713 | $(627,649,062) | $108,586,931 |
| Common stock issued for securities litigation settlement | 1,269,036 | 1,269 | 19,998,731 | — | 20,000,000 |
| Common stock issued through At-The-Market offering | 3,166,168 | 3,166 | 52,786,346 | — | 52,789,512 |
| Issuance of common stock | 5,817 | 6 | 199,994 | — | 200,000 |
| Stock options and vesting of restricted shares* | 47,818 | 48 | (467,262) | — | (467,214) |
| Stock-based compensation | — | — | 10,321,889 | — | 10,321,889 |
| Net loss for the nine months ended September 30, 2023 | — | — | — | (78,662,425) | (78,662,425) |
| Balance as of September 30, 2023 | 12,769,107 | $12,769 | $819,067,411 | $(706,311,487) | $112,768,693 |
*Net of tax payments related to shares withheld for option exercises and vested stock.
**Prior periods presented have been adjusted to reflect the 1-for-20 reverse stock split which was effective on June 17, 2024. Additional information regarding the reverse stock split may be found in Note 1 Summary of Business and Significant Accounting Principles.
Condensed Consolidated Statements of Stockholders’ Equity
| Common Stock · AdditionalPaid-inCapital** · AccumulatedDeficit · TotalStockholders’Equity | |||||
|---|---|---|---|---|---|
| Numberof Shares** · Amount** | |||||
| Balance as of June 30, 2024 | 20,738,091 | $20,738 | $865,660,256 | $(807,044,037) | $58,636,957 |
| Common stock issued under 2024 Securities Purchase Agreement | 11,162,343 | 11,162 | 11,769,897 | — | 11,781,059 |
| Stock options and vesting of restricted shares* | 105,001 | 105 | (2,866) | — | (2,761) |
| Stock-based compensation | — | — | 1,978,330 | — | 1,978,330 |
| Other | (143,344) | (143) | — | — | (143) |
| Net loss for the three months ended September 30, 2024 | — | — | — | (25,135,559) | (25,135,559) |
| Balance as of September 30, 2024 | 31,862,091 | $31,862 | $879,405,617 | $(832,179,596) | $47,257,883 |
| Common Stock · AdditionalPaid-inCapital** · AccumulatedDeficit · TotalStockholders’Equity | |||||
|---|---|---|---|---|---|
| Numberof Shares** · Amount** | |||||
| Balance as of December 31, 2023 | 14,299,042 | $14,299 | $834,666,123 | $(751,568,251) | $83,112,171 |
| Common stock issued under ATM | 490,445 | 490 | 1,242,159 | — | 1,242,649 |
| Common stock issued under 2023 Warrant Exchange | 425,000 | 425 | 2,847,075 | — | 2,847,500 |
| Issuance of common stock under ELOC Purchase Agreement | 600,000 | 600 | 3,123,400 | — | 3,124,000 |
| Common stock issued under 2024 Securities Purchase Agreement | 16,111,989 | 16,112 | 29,675,462 | — | 29,691,574 |
| Stock options and vesting of restricted shares* | 206,993 | 207 | (171,250) | — | (171,043) |
| Stock-based compensation | — | — | 8,022,851 | — | 8,022,851 |
| Other | (271,378) | (271) | (203) | — | (474) |
| Net loss for the nine months ended September 30, 2024 | — | — | — | (80,611,346) | (80,611,346) |
| Balance as of September 30, 2024 | 31,862,091 | $31,862 | $879,405,617 | $(832,179,596) | $47,257,883 |
*Net of tax payments related to shares withheld for option exercises and vested stock.
**Prior periods presented have been adjusted to reflect the 1-for-20 reverse stock split which was effective on June 17, 2024. Additional information regarding the reverse stock split may be found in Note 1 Summary of Business and Significant Accounting Principles.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.