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2023-03-27_Forza_X1_Reports_Results_for_the_Year_Ended_32.pdf
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Summary

Forza X1, Inc. reported operational highlights and financial results for the year ended December 31, 2022. The company completed design, development, and water testing on three electric boats and produced a total of 8 electric boats. Forza upgraded its "Alpha 1" engine design to "Alpha 2" with improved features and is developing a 'stacking' engine design to double horsepower. The company plans to build a new factory in phases, with an initial 60,000-square-foot plant and a target completion date of Q4 2023. As of December 31, 2022, Forza had cash and cash equivalents of $12,767,000 and working capital of $12,834,000. The company reported a net loss of $3,630,081 for the year ended December 31, 2022.

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Forza X1, Inc. reported operational highlights and financial results for the year ended December 31, 2022.

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  • File Format: PDF
  • File Size: 39 KB
  • Pages: 4
  • Language: EN
  • Total Downloads: 35
  • Last Updated: 2 months ago

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