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Ukrainian Prime Minister: (Regarding the Russian drone attack on Lviv) Russia now dares to attack densely populated urban centers in broad daylight.On March 24, CNN reported that an Iranian source stated that "contact" has been made between the United States and Iran, and that Iran is willing to listen to "sustainable" proposals aimed at ending the war. The source said, "In recent days, there has indeed been contact between the United States and Iran initiated by Washington, but it has not yet reached the level of full-scale negotiations. Both sides have received messages through various intermediaries to explore whether an agreement to end the war can be reached." They added, "The proposals currently under consideration aim not only at achieving a ceasefire, but at reaching a concrete agreement to end the US-Iran conflict." The source did not provide further details. The source declined to comment on Trumps public statements regarding negotiations, emphasizing that Irans position has consistently been clear: Tehran is prepared to consider any viable proposals. The source stated, "Iran has not requested meetings or direct dialogue with the United States, but if a sustainable agreement that can safeguard Irans national interests emerges, Iran is willing to listen." The source also insisted that any proposal must include the lifting of all sanctions imposed on Iran.According to Hong Kong Stock Exchange documents, Zhejiang Kesheng Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange.According to Al Jazeera: Saudi Defense Minister Khalid held discussions with the French armed forces.According to Hong Kong Stock Exchange documents, Zhejiang Kesheng Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange.

Electric Car Maker Canoo Has 'Significant Doubts' About Going Concern Due to Cash Shortage

Haiden Holmes

May 11, 2022 10:18

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Canoo Inc, a manufacturer of electric vehicles, issued a warning to investors on Tuesday that it may not be able to pay its financial obligations, stating that it was attempting to obtain more capital but that it had "serious uncertainty" about its viability.


The warning came as the Texas-based corporation posted a net loss of $125.4 million for the first quarter. After-hours trading saw a decline of 13%, following a drop of 5% during the day.


Canoo's liquidity crisis exemplifies the challenge electric vehicle (EV) startups have in scaling up expensive car production in the face of competition from Tesla (NASDAQ:TSLA) Inc and traditional automakers investing billions in new technology and plants.


Canoo reported having approximately $105 million in cash at the end of March, less than the $120 million it burnt in operational expenses during the first quarter of the year. First-quarter capital expenditures of $28.4 million on zero dollars in revenue demonstrate the need for more finance.


Tony Aquila, chairman and chief executive officer of Canoo, stated in a statement, "We have been open about our concept of raising money prudently, and we will maintain this disciplined approach."


Aquila stated that Canoo has more than $600 million in available resources to fund the launch of vehicle production, as well as "considerable experience sourcing capital in difficult markets."


Canoo reported that as of March 31, it had produced 39 Gamma vans and received 17,500 pre-orders with an estimated value of $750 million. During a Tuesday earnings call, executives stated that the company is producing up to 12 vehicles per week and that it is primarily focused on fleet customers.


NASA awarded the business a contract in April to construct vehicles that will transport humans to the launch pad for the planned Artemis mission to the moon.

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