Dave Hammond's questions to Envirotech Vehicles (EVTV) leadership • Q2 2022
Question
Dave Hammond, a private investor, asked for clarification on the 100-unit order structure with DaVinci Innovations and how related sales would be disclosed. He also inquired about the status of a potential financing following the NASDAQ uplist and sought details on the new 84-passenger school bus opportunity.
Answer
CEO Phillip Oldridge explained that the DaVinci dealer relationship is required by Arkansas state law, which currently prohibits direct-to-customer sales by manufacturers, though they are working to change this. He confirmed the 100-unit order is firm with end customers. Regarding financing, he stated a deal is likely in Q3, explaining they proceeded with the uplist without a concurrent financing due to unfavorable market conditions at the time. He clarified the company is developing an 84-passenger school bus, with five units expected by year-end, and also mentioned progress on a prisoner transport van and right-hand drive vehicles.