This is an exciting time for Aptera and us!
Many of the repetitive questions I see on the forum topics can be answered by looking at the 2020 Annual Report. Here are some of the things I see as highlights:
>> Aptera has accomplished all of the things we rave about with only 12 full time and 10 part time employees. A remarkable accomplishment equal to or greater that the efficient design of the Aptera itself!!
>> "The design, manufacture, sale and servicing of vehicles is a capital-intensive business"
>> The company competes with many other automobile manufacturers that have substantially greater resources than the company. (Some of these have billions of dollars to bring their products to market in the 2022-2023 timeframe)
>> The balance sheet shows that at the end of 2020 Aptera had 1.2M in assets and liabilities with total operating expenses of 4.2M
>> Net cash at end of period 654K
>> Aptera estimates that it will need 10M to start production
What does this mean for us? It means we need to get on the bandwagon and fully participate in the upcoming fundraising effort ourselves, (Let's not sit on the sidelines and let someone else do it) and get out and promote interest and investment from others to expand the investment opportunity and market outlook for Aptera so this great team can work its efficiency magic to get the funds they need to deliver for us and the rest of the community who needs this vehicle.
Also copied here is the Aptera Schedule provided to the SEC in its filing. This is the schedule the Gove will use to evaluate Aptera's progress and also the one some investment resources will look at. We need to do all we can to help Aptera stick to that shcelue!!
Plan of Operation Our 12-month plan is to complete our design and validation for a production intent vehicle that we can scale production on in 2022. Our key planned activities and milestones to achieve our 12-month plan of operation includes the following:
• Release all part designs for Beta builds in Q2 of 2021
• Build our Betas vehicles in Q2 of 2021
• Begin Test and Validation in Q3 of 2021
• Begin improved Gamma design from lessons learned in Q3 and Q4 of 2021
• Sort out basic supply chain for Gamma vehicles in Q3 and Q4 of 2021
• Release Gamma Body in Q3 of 2021
• Start building first Gamma units in Q4 of 2021
• Start building our production strategy and begin test builds with Gamma vehicles in station builds in Q4 of 2021
• Continual validation through till we build the first Delta vehicles towards the end of 2021
• Deliver a vehicle to a customer by the end of the year.
• Then build out our facilities and ramp up production accordingly in 2022
The annual report IS very interesting. You can see it by clicking on the link at the bottom of the page in the black area next to "Investors". If I read it correctly, it also mentions the number of existing class A and B (non-voting) shares at 51+ million. Another 75 million class A and 115 million class B have been authorized. I'm sure this will be interesting for the next round of investors.
If I read the plan of operation correctly, I'd say they are behind. I don't think there is any error in referring to the current models as alpha. They mention upcoming beta progress in the May update video. I'm glad there is a documented plan to measure progress and give us milestones to look for in the future.
I wondered if the road map nomenclature was a letter off (Beta in the SEC filing is really the current Alpha) - there's no mention of Alpha builds, or is that road map so far off already?