$VLCN
Volcon Inc

2023 Q1 Form 10-K Financial Statement

#000168316823001344 Filed on March 07, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $1.170M $751.6K $4.547M
YoY Change -1.19% 101.1% 913.03%
Cost Of Revenue $1.230M $1.863M $13.41M
YoY Change -65.13% -80.03% 27.65%
Gross Profit -$59.52K -$1.111M -$8.866M
YoY Change -97.46% -87.59% -11.86%
Gross Profit Margin -5.09% -147.86% -195.0%
Selling, General & Admin $3.679M $4.240M $14.74M
YoY Change -8.8% 98.76% -25.02%
% of Gross Profit
Research & Development $1.705M $829.5K $7.312M
YoY Change -24.94% -70.59% -22.72%
% of Gross Profit
Depreciation & Amortization $50.39K $188.7K $757.0K
YoY Change -55.4% 125.06% 246.6%
% of Gross Profit
Operating Expenses $5.466M $5.069M $23.20M
YoY Change -13.32% 2.33% -20.34%
Operating Profit -$5.525M -$6.181M -$32.06M
YoY Change -36.11% -55.57% -18.16%
Interest Expense $1.780M -$1.632M $2.260M
YoY Change -38053.5% 6779.26% -2576.49%
% of Operating Profit
Other Income/Expense, Net -$1.774M $14.97K -$2.172M
YoY Change -4414.53% -101.77% 154.3%
Pretax Income -$7.299M -$7.797M -$34.24M
YoY Change -15.24% -47.24% -14.68%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$7.299M -$7.797M -$34.24M
YoY Change -15.24% -47.24% -14.68%
Net Earnings / Revenue -623.64% -1037.41% -752.97%
Basic Earnings Per Share -$0.30 -$1.45
Diluted Earnings Per Share -$0.30 -$0.32 -$1.45
COMMON SHARES
Basic Shares Outstanding 24.61M shares 24.38M shares 23.69M shares
Diluted Shares Outstanding 24.54M shares 23.69M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.427M $11.41M $11.41M
YoY Change -65.18% 51.11% 51.11%
Cash & Equivalents $4.772M $11.54M
Short-Term Investments $1.206M $427.7K $427.7K
Other Short-Term Assets $2.380M $2.402M $2.402M
YoY Change 36.05% 119.78% 119.78%
Inventory $6.121M $5.646M $5.646M
Prepaid Expenses
Receivables $710.3K $865.0K $865.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $14.64M $20.33M $20.33M
YoY Change -30.86% 86.81% 86.81%
LONG-TERM ASSETS
Property, Plant & Equipment $897.6K $601.8K $2.108M
YoY Change -71.24% -25.68% -29.56%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $285.0K $285.0K $285.0K
YoY Change -61.6% -61.1% -61.1%
Total Long-Term Assets $2.603M $2.399M $2.399M
YoY Change -32.8% -35.92% -35.92%
TOTAL ASSETS
Total Short-Term Assets $14.64M $20.33M $20.33M
Total Long-Term Assets $2.603M $2.399M $2.399M
Total Assets $17.24M $22.73M $22.73M
YoY Change -31.16% 55.4% 55.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $557.4K $1.037M $1.037M
YoY Change -62.57% -28.71% -28.71%
Accrued Expenses $1.589M $2.045M $2.465M
YoY Change -52.52% 165.05% -9.87%
Deferred Revenue
YoY Change
Short-Term Debt $19.13M $17.35M $17.35M
YoY Change
Long-Term Debt Due $14.20K $18.67K $18.67K
YoY Change -16.27% 8.55% 8.55%
Total Short-Term Liabilities $21.70M $20.90M $20.90M
YoY Change 266.89% 222.31% 222.31%
LONG-TERM LIABILITIES
Long-Term Debt $81.17K $50.12K $50.12K
YoY Change 26.31% -27.14% -27.14%
Other Long-Term Liabilities $1.047M $1.143M $1.143M
YoY Change -38.37% -35.33% -35.33%
Total Long-Term Liabilities $1.128M $1.193M $1.193M
YoY Change -36.01% -35.03% -35.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.70M $20.90M $20.90M
Total Long-Term Liabilities $1.128M $1.193M $1.193M
Total Liabilities $22.82M $22.09M $22.09M
YoY Change 197.35% 165.51% 165.51%
SHAREHOLDERS EQUITY
Retained Earnings -$83.03M -$75.73M
YoY Change 82.5%
Common Stock $200.00 $198.00
YoY Change 54.69%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$5.582M $635.0K $635.0K
YoY Change
Total Liabilities & Shareholders Equity $17.24M $22.73M $22.73M
YoY Change -31.16% 55.4% 55.4%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$7.299M -$7.797M -$34.24M
YoY Change -15.24% -47.24% -14.68%
Depreciation, Depletion And Amortization $50.39K $188.7K $757.0K
YoY Change -55.4% 125.06% 246.6%
Cash From Operating Activities -$6.477M -$8.827M -$33.65M
YoY Change -31.45% -18.82% 39.27%
INVESTING ACTIVITIES
Capital Expenditures $333.6K $179.1K $799.4K
YoY Change -249.18% -237.41% -195.39%
Acquisitions
YoY Change
Other Investing Activities $89.00K
YoY Change
Cash From Investing Activities -$244.6K -$179.1K -$799.4K
YoY Change 9.39% 37.41% -4.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$44.44K -4.440K $40.41M
YoY Change -100.25% -100.03% 34.55%
NET CHANGE
Cash From Operating Activities -$6.477M -8.827M -$33.65M
Cash From Investing Activities -$244.6K -179.1K -$799.4K
Cash From Financing Activities -$44.44K -4.440K $40.41M
Net Change In Cash -$6.766M -9.011M $5.966M
YoY Change -180.28% -409.13% 18.46%
FREE CASH FLOW
Cash From Operating Activities -$6.477M -$8.827M -$33.65M
Capital Expenditures $333.6K $179.1K $799.4K
Free Cash Flow -$6.810M -$9.006M -$34.45M
YoY Change -26.17% -16.17% 47.7%

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762826 usd
CY2021 us-gaap Depreciation And Amortization
DepreciationAndAmortization
218411 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
839372 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
25585 usd
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
5129085 usd
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
4155996 usd
CY2022 us-gaap Increase Decrease In Inventories And Other Operating Assets
IncreaseDecreaseInInventoriesAndOtherOperatingAssets
-1553735 usd
CY2021 us-gaap Increase Decrease In Inventories And Other Operating Assets
IncreaseDecreaseInInventoriesAndOtherOperatingAssets
3977574 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
740059 usd
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
990071 usd
CY2022 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
37414 usd
CY2021 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
682250 usd
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-417475 usd
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1372703 usd
CY2022 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-204769 usd
CY2021 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
737715 usd
CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-354340 usd
CY2021 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-240110 usd
CY2022 us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
-2254136 usd
CY2021 us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
2221742 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-33647249 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-24160526 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
799412 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
824905 usd
CY2022 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
-0 usd
CY2021 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
13125 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-799412 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-838030 usd
CY2022 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
17201 usd
CY2021 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
13158 usd
CY2022 VLCN Proceeds From Wefunder Offering Net Of Issuance Costs
ProceedsFromWefunderOfferingNetOfIssuanceCosts
0 usd
CY2021 VLCN Proceeds From Wefunder Offering Net Of Issuance Costs
ProceedsFromWefunderOfferingNetOfIssuanceCosts
2205440 usd
CY2022 VLCN Proceeds From Issuance Of Preferred Stock Series A
ProceedsFromIssuanceOfPreferredStockSeriesA
0 usd
CY2021 VLCN Proceeds From Issuance Of Preferred Stock Series A
ProceedsFromIssuanceOfPreferredStockSeriesA
2464508 usd
CY2022 VLCN Proceeds From Issuance Of Preferred Stock Series B
ProceedsFromIssuanceOfPreferredStockSeriesB
0 usd
CY2021 VLCN Proceeds From Issuance Of Preferred Stock Series B
ProceedsFromIssuanceOfPreferredStockSeriesB
9615331 usd
CY2022 VLCN Proceeds From Issuance Of Promissory Notes Net Of Issuance Costs
ProceedsFromIssuanceOfPromissoryNotesNetOfIssuanceCosts
0 usd
CY2021 VLCN Proceeds From Issuance Of Promissory Notes Net Of Issuance Costs
ProceedsFromIssuanceOfPromissoryNotesNetOfIssuanceCosts
1104000 usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 usd
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
735000 usd
CY2022 us-gaap Repayments Of Debt
RepaymentsOfDebt
-0 usd
CY2021 us-gaap Repayments Of Debt
RepaymentsOfDebt
2000000 usd
CY2022 VLCN Proceeds From Issuance Of Common Stock From Initial Public Offering Net Of Issuance Costs
ProceedsFromIssuanceOfCommonStockFromInitialPublicOfferingNetOfIssuanceCosts
0 usd
CY2021 VLCN Proceeds From Issuance Of Common Stock From Initial Public Offering Net Of Issuance Costs
ProceedsFromIssuanceOfCommonStockFromInitialPublicOfferingNetOfIssuanceCosts
15917269 usd
CY2022 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1910816 usd
CY2022 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
18089184 usd
CY2021 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0 usd
CY2022 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
15122345 usd
CY2021 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0 usd
CY2022 VLCN Proceeds From Issuance Of Warrants To Convertible Note Holders Net Of Issuance Costs
ProceedsFromIssuanceOfWarrantsToConvertibleNoteHoldersNetOfIssuanceCosts
7177976 usd
CY2021 VLCN Proceeds From Issuance Of Warrants To Convertible Note Holders Net Of Issuance Costs
ProceedsFromIssuanceOfWarrantsToConvertibleNoteHoldersNetOfIssuanceCosts
0 usd
CY2022 VLCN Proceeds From Issuance Of Preferred Stock Preference Stock And Warrant
ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrant
40000 usd
CY2021 VLCN Proceeds From Issuance Of Preferred Stock Preference Stock And Warrant
ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrant
0 usd
CY2022 VLCN Proceeds From Exercise Of Common Stock Warrants
ProceedsFromExerciseOfCommonStockWarrants
0 usd
CY2021 VLCN Proceeds From Exercise Of Common Stock Warrants
ProceedsFromExerciseOfCommonStockWarrants
6250 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
40412304 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
30034673 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
5965643 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
5036117 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5572199 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
536082 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11537842 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5572199 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
6483 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
23048 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2022 VLCN Recognition Of Initial Right Of Use Asset Operating Lease
RecognitionOfInitialRightOfUseAssetOperatingLease
1128609 usd
CY2021 VLCN Recognition Of Initial Right Of Use Asset Operating Lease
RecognitionOfInitialRightOfUseAssetOperatingLease
1707466 usd
CY2022 VLCN Acquisition Of Property And Equipment With Note Payable
AcquisitionOfPropertyAndEquipmentWithNotePayable
0 usd
CY2021 VLCN Acquisition Of Property And Equipment With Note Payable
AcquisitionOfPropertyAndEquipmentWithNotePayable
30942 usd
CY2022 VLCN Conversion Of Safe Liability To Series Preferred Stock
ConversionOfSafeLiabilityToSeriesPreferredStock
0 usd
CY2021 VLCN Conversion Of Safe Liability To Series Preferred Stock
ConversionOfSafeLiabilityToSeriesPreferredStock
2000000 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84F_eus-gaap--UseOfEstimates_zamLKtmJbuR6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_861_zhXvS6uD0bq1">Use of Estimates</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The preparation of the financial statements in conformity with Generally Accepted Accounting Principles in the United States</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of any contingent assets and liabilities as of the dates of the financial statements and the reported amounts of expenses during the reporting periods.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Making estimates requires management to exercise judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, actual results could differ significantly from those estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">  </p>
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
3060160 usd
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1822306 usd
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
439839 usd
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
45444 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2145884 usd
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
341265 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
5645883 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
2209015 usd
CY2022 VLCN Loss On Write Down Of Inventory And Inventory Deposits
LossOnWriteDownOfInventoryAndInventoryDeposits
1692217 usd
CY2022Q4 us-gaap Contractual Obligation
ContractualObligation
1708595 usd
CY2021 VLCN Loss On Write Down Of Inventory And Inventory Deposits
LossOnWriteDownOfInventoryAndInventoryDeposits
5450007 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1107272 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1001130 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
505506 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
191397 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
601766 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
809734 usd
CY2022 us-gaap Depreciation
Depreciation
757013 usd
CY2021 us-gaap Depreciation
Depreciation
206385 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
17438 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
30563 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
11625 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
12510 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5813 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
18053 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5813 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
12026 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
23685 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
23685 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
17664 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
14654 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
79688 usd
CY2022Q4 VLCN Long Term Debt Interest
LongTermDebtInterest
10902 usd
CY2022Q4 us-gaap Notes Payable
NotesPayable
68786 usd
CY2022Q4 us-gaap Notes Payable Current
NotesPayableCurrent
18670 usd
CY2022Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
50116 usd
CY2022Q3 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.10 pure
CY2022 VLCN Aggregate Excess Amount
AggregateExcessAmount
250000 usd
CY2022Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
27173913 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
-9820165 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
17353748 usd
CY2022Q4 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
24637026 usd
CY2022 us-gaap Interest And Debt Expense
InterestAndDebtExpense
2231403 usd
CY2022 us-gaap Adjustment For Amortization
AdjustmentForAmortization
61709 usd
CY2021 us-gaap Adjustment For Amortization
AdjustmentForAmortization
148102 usd
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2021 us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
2876 shares
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
3259009 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
14627382 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-34235405 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-40119235 usd
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23686752 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4567235 shares
CY2022 VLCN Basic And Diluted Net Loss Per Common Share
BasicAndDilutedNetLossPerCommonShare
-1.45
CY2021 VLCN Basic And Diluted Net Loss Per Common Share
BasicAndDilutedNetLossPerCommonShare
-8.78
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
30526743 shares
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13231429 shares
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
7184840 usd
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
8426269 usd
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
-288249 usd
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
-224189 usd
CY2022 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
595244 usd
CY2021 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
537705 usd
CY2022 VLCN Return To Provision True Up
ReturnToProvisionTrueUp
93285 usd
CY2021 VLCN Return To Provision True Up
ReturnToProvisionTrueUp
-94707 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
7585120 usd
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
8834492 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
9106430 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
5078075 usd
CY2022Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
1502868 usd
CY2021Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
46030 usd
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
1308956 usd
CY2021Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
592276 usd
CY2022Q4 VLCN Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
322167 usd
CY2021Q4 VLCN Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
466980 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
3103037 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
2872973 usd
CY2022Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
1290968 usd
CY2021Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
233284 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
478171 usd
CY2022Q4 us-gaap Deferred Tax Assets Capital Loss Carryforwards
DeferredTaxAssetsCapitalLossCarryforwards
261922 usd
CY2021Q4 us-gaap Deferred Tax Assets Capital Loss Carryforwards
DeferredTaxAssetsCapitalLossCarryforwards
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Other
DeferredTaxAssetsTaxDeferredExpenseOther
177074 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Other
DeferredTaxAssetsTaxDeferredExpenseOther
336 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
17306705 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
9534840 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
16661612 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
9076492 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
645093 usd
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
458348 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
328836 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
-0 usd
CY2022Q4 VLCN Deferred Tax Liabilities Right Of Use Assets
DeferredTaxLiabilitiesRightOfUseAssets
-316257 usd
CY2021Q4 VLCN Deferred Tax Liabilities Right Of Use Assets
DeferredTaxLiabilitiesRightOfUseAssets
-458348 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
43400000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
524036 usd
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
398440 usd
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
263277 usd
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
219604 usd
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
0 usd
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
0 usd
CY2022 us-gaap Sublease Income
SubleaseIncome
0 usd
CY2021 us-gaap Sublease Income
SubleaseIncome
0 usd
CY2022 us-gaap Lease Cost
LeaseCost
787313 usd
CY2021 us-gaap Lease Cost
LeaseCost
618044 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
354340 usd
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
323162 usd
CY2022 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
430644 usd
CY2021 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
367213 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1505987 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2182612 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
391117 usd
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
456207 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1143011 usd
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1767506 usd
CY2022Q4 VLCN Operating Lease Liability1
OperatingLeaseLiability1
1534128 usd
CY2021Q4 VLCN Operating Lease Liability1
OperatingLeaseLiability1
2223713 usd
CY2022Q4 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P3Y8M12D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0667 pure
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
458572 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
471638 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
485702 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
340591 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1756503 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
222375 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1534128 usd
CY2022 us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
378176 usd

Files In Submission

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vlcn-20221231_cal.xml Edgar Link unprocessable
0001683168-23-001344-index-headers.html Edgar Link pending
0001683168-23-001344-index.html Edgar Link pending
0001683168-23-001344.txt Edgar Link pending
0001683168-23-001344-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
image_001.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending
vlcn-20221231.xsd Edgar Link pending
volcon_ex0409.htm Edgar Link pending
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volcon_i10k-123122.htm Edgar Link pending
vlcn-20221231_def.xml Edgar Link unprocessable
vlcn-20221231_pre.xml Edgar Link unprocessable
vlcn-20221231_lab.xml Edgar Link unprocessable
volcon_i10k-123122_htm.xml Edgar Link completed