Delay of payment of the convertible loan and outlook
For reasons of the reporting obligation under the European Market Abuse Ordinance (MAR) and the Swiss Listing Rules (KR), LION E-Mobility AG has informed its shareholders that the receipt of payment under the convertible loan agreement signed with BAMM Inc. has not yet taken place.
In this context, LION E-Mobility AG clarifies that the company is still in a constructive exchange with BAMM Inc. in order to secure the payment of the convertible loan in the amount of EUR 2.5 million as quickly as possible. However, LION E-Mobility AG cannot rule out the possibility that the convertible loan will ultimately not be granted.
Irrespective of this possible payment receipt, the liquidity of the LION Group is secured in the short and medium term. With the initiated cost savings - especially in the administrative area - the current "burn rate" of the LION Group could be significantly reduced. Promising sales activities as well as the previous order backlog of LION Smart GmbH also contribute to the fulfilment of the current liquidity requirements and to the further development of the LIGHT Battery and the Battery Management System into an industrial end product. In addition, LION E-Mobility AG is looking for further investors.
This presentation contains forward-looking statements that involve a number of risks and uncertainties, including statements that relate to, among other things, the Company's objectives, goals, strategies, intentions, plans, beliefs, expectations and estimates, and can generally be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "expect", "intend", "estimate", "anticipate", "believe", "plan", "objective" and "continue" (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from expectations include but are not limited to: general business and economic conditions (including but not limited to currency rates and creditworthiness of customers); Company liquidity and capital resources, including the availability of additional capital resources to fund its activities; level of competition; changes in laws and regulations; legal and regulatory proceedings; the ability to adapt products and services to the changing market; the ability to attract and retain key executives; and the ability to execute strategic plans. The Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements contained in this presentation, whether as a result of new information, future events or otherwise, except as required by law.