Volcon reports Q2 revenue $940,863 vs. $1M in Q1

The Company’s net loss was $0.6 million for the quarter ended June 30, 2024 compared to $26.0 million for the first quarter of 2024 and $3.4 million for the fourth quarter of 2023. John Kim, CEO, notes, “We have made some significant changes in the direction of our products and business. We have significantly improved our balance sheet and equity structure and, having demonstrated compliance with Nasdaq, have the ability to take advantage of opportunities to raise additional cash if circumstances are favorable to do so. We have reduced headcount costs and have streamlined the development of new products by working with manufacturers who have significant design, development and production capabilities allowing us to reduce product development costs and time to get new products to market. Where possible we are also negotiating to have no or insignificant minimum order quantities to reduce cash requirements and minimize inventory on hand. The future of Volcon’s products will follow this model as we work to achieve profitability.”