We are so appreciative to the over 500 investors who supported us in 2019. We feel that efficient transportation is key to the responsible management of our valuable resources and our planet long term. And we are delighted that many investors agree with us. In 2020 we will ramp our engineering efforts heavily in an effort to test new vehicles late in the summer and have a production intent vehicle design by the end of the year. Please follow our progress and tell your friends about our efforts to improve transportation efficiency.
If there is any way you can help spread our story it will help us gain interest after our product launch later in 2020. This will in turn help us raise funds to support our ramp into production and our growth into 2021. This will also help boost our pre-orders which will help us gain the economies of scale we need to drive down production costs over time. And this will help our profitability in the future and allow us become a stable company more quickly. So please, share if you can.
By 2021, we hope to create the first prototypes of the new Aptera. These prototypes will aid us with the testing and validation we need to perform to launch into production of the Aptera later that same year. By 2022, we hope to produce 10,000 units per year of several variants of our 2 passenger+ vehicles. In five years, by 2024, we hope to produce 40,000 units per year with additional Aptera variants. These are forward looking projections that are not guaranteed.
We refined our aerodynamics, body structure, and suspension to decrease weight and increase strength and efficiency.
We started a crowdfunding and brought in over 500 investors who support our vision for efficient transportation.
We've built a nice following of people who are interested in our story.
We didn't have the financial resources to do as much research or as many design experiments as we would have liked to.
We would have liked to have been able to hire up talented engineers more quickly.
We have found it hard to find automotive quality vendors who will quickly work with a startup company.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes and other financial information included elsewhere in this offering. Some of the information contained in this discussion and analysis, including information regarding the strategy and plans for our business, includes forward-looking statements that involve risks and uncertainties. You should review the "Risk Factors" section for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.
We build the most efficient transportation on the planet. Science drives our approach to building better vehicles and the result is something that can travel over 1,000 miles on a single charge. We believe our focus on efficiency will benefit the planet by using our resources more wisely and polluting less.
By mid 2020, we plan to create the first new prototypes of the first new Aptera. These prototypes will aid us with the testing and validation we need to perform to launch into production of the Aptera later that same year. By 2022, we plan to produce 10,000 units per year of several variants of our 2 passenger+ vehicles. In five years, by 2024, we plan to produce 40,000 units per year with additional Aptera variants.
Aptera Motors Corp was incorporated in the State of Delaware in March 2019.
Since then, we have:
Historical Results of Operations
Our company was organized in March 2019 and has limited operations upon which prospective investors may base an evaluation of its performance.
Liquidity & Capital Resources
To-date, the company has been financed with $200,000 in equity.
After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 12 months before we need to raise further capital.
We plan to use the proceeds as set forth in this Form C under "Use of Funds". We don’t have any other sources of capital in the immediate future.
We will likely require additional financing in excess of the proceeds from the Offering in order to perform operations over the lifetime of the Company. We plan to raise capital in 6 months. Except as otherwise described in this Form C, we do not have additional sources of capital other than the proceeds from the offering. Because of the complexities and uncertainties in establishing a new business strategy, it is not possible to adequately project whether the proceeds of this offering will be sufficient to enable us to implement our strategy. This complexity and uncertainty will be increased if less than the maximum amount of securities offered in this offering is sold. The Company intends to raise additional capital in the future from investors. Although capital may be available for early-stage companies, there is no guarantee that the Company will receive any investments from investors.
Runway & Short/Mid Term Expenses
Aptera Motors Corp cash in hand is $190,382, as of December 2019. Over the last three months, revenues have averaged $144,088/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $42,468/month, for an average net margin of $101,620 per month. Our intent is to be profitable in 21 months.
There have been no material changes in our financial operations since the date of our financials on 12/31/2019.
We expect to continue our development and engineering efforts over the next 3 to 6 months at roughly the same rate we have over the previous 3 months. We have another $100,000 in investment to utilize for these efforts and plan to close on private funding along with this crowdfunding to further our business plan.