The electric motorbike company (Verge Motorcycles) owned by the same people also has such bad accounting/paperwork that they could not find an auditor willing to give an opinion.
"According to the auditor's report, no opinion was given on the company's financial statements because sufficient audit evidence was not available."
The company claims to have a couple million in inventory but no system saying anything about what is in their inventory, 300k in revenue in Finland without any papertrail of it actually happening, 2.5 million in R&D without any explanation/papertrail on what it was spent on (salaries? materials? machines?), etc.
Also the company has taken really expensive loans from family members of the leadership (12% interest which is way over the market rate).
They said "Available Today" on January 4th but have said actually customer deliveries are planned for April.
> “The first customer deliveries will probably take place in April. There are production-related issues, getting subcontractors involved. Starting production. A lot depends on the goods and officials.”
As far as I can tell, no solid-state TS Pro (the TS Pro itself is not an entirely new model and has been around for a couple of years) has been delivered to any customers yet. They're supposed to be delivered in Q1/26, so it shouldn't be too long if they intend to keep their promises. Although if you were to order one today, your bike wouldn't arrive until Q4/26 according to their website.
https://yle.fi/a/74-20205916 (article in Finnish)
"According to the auditor's report, no opinion was given on the company's financial statements because sufficient audit evidence was not available."
The company claims to have a couple million in inventory but no system saying anything about what is in their inventory, 300k in revenue in Finland without any papertrail of it actually happening, 2.5 million in R&D without any explanation/papertrail on what it was spent on (salaries? materials? machines?), etc.
Also the company has taken really expensive loans from family members of the leadership (12% interest which is way over the market rate).