Darin Tuttle

Question 1

Darin Tuttle's questions to Cyngn (CYN) leadership • Q1 2023

May 10, 2023

Question

Darin Tuttle of Singular Research sought clarification on the commercialization timelines for the forklift and mining solutions and asked about the S-3 shelf registration's role in relation to the company's cash burn.

Answer

Chairman and CEO Lior Tal stated that both the forklift and mining solutions are targeted for productization in 2024, operating on separate development tracks. CFO Don Alvarez described the S-3 filing as a 'housekeeping' measure to provide future capital market flexibility, noting it is not factored into the cash burn forecast and is intended to allow the company to efficiently act on positive market movements.

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Question 2

Darin Tuttle's questions to Cyngn (CYN) leadership • Q4 2022

Mar 15, 2023

Question

Darin Tuttle of Singular Research sought clarification on the $1.6 million in non-recurring engineering (NRE) contract revenue, asking if it related to pilot vehicles or full fleets. He also inquired about the scope of the mining contract (indoor vs. outdoor) and requested guidance on the expected cash balance at the end of Q1 2023.

Answer

VP of Business Development Ben Landen explained that the NRE revenue is for engineering development work that serves as a precursor to bringing new vehicle types to a commercial-ready state, calling it a repeatable process. He specified the initial mining application targets outdoor, open-pit environments. CFO & Director Donald Alvarez stated that the year-end cash of $22.6 million is considered sufficient for the year and that the Q1 cash burn rate would not be dramatically different from Q4.