Forza X1 reports 2023 EPS (44c) vs. (44c) last year

Reports revenue $37.1M vs. $0 last year. “We aim to be among the first to develop and manufacture electric boats targeting the recreational market,” said Joseph Visconti, Executive Chairman and Interim Chief Executive Officer of Forza X1, Inc. “Our mission is to build stylish recreational boats that provide a sustainable alternative to the recreational boating industry and solve fuel availability headaches in select markets. Focused on the creation and implementation of marine electric vehicle (“EV”) technology to control and power our electric boats, we have designed, built and tested multiple Forza company units, including three offshore-style catamarans, two bay boat-style catamarans, one deck boat, and three 22-foot center or dual console (F22) monohulls.” “The marine industry has been slow to adopt electric boating due to several factors that have made sustained progress difficult. “Elevated interest rates, widespread negative perception about the economy, and the lack of substantial infrastructure for electric boating are just some challenges the industry faces in 2024,” remarked Visconti.