2024 Q4 Form 10-Q Financial Statement
#000168316824007859 Filed on November 12, 2024
Income Statement
Concept | 2024 Q4 | 2024 Q3 | 2023 Q3 |
---|---|---|---|
Revenue | $1.076M | $487.4K | |
YoY Change | 120.72% | 100.83% | |
Cost Of Revenue | $10.29M | $3.542M | |
YoY Change | 190.61% | 75.99% | |
Gross Profit | -$9.219M | -$3.055M | |
YoY Change | 201.76% | 72.59% | |
Gross Profit Margin | -856.88% | -626.76% | |
Selling, General & Admin | $2.387M | $3.415M | |
YoY Change | -30.09% | 1.42% | |
% of Gross Profit | |||
Research & Development | $2.710M | ||
YoY Change | 28.26% | ||
% of Gross Profit | |||
Depreciation & Amortization | $72.33K | $65.73K | |
YoY Change | 10.05% | -75.28% | |
% of Gross Profit | |||
Operating Expenses | $2.916M | $6.398M | |
YoY Change | -54.43% | 15.39% | |
Operating Profit | -$12.13M | -$9.453M | |
YoY Change | 28.37% | 29.23% | |
Interest Expense | $1.135M | ||
YoY Change | 83.58% | ||
% of Operating Profit | |||
Other Income/Expense, Net | -$1.504M | -$1.875M | |
YoY Change | -19.78% | 220.75% | |
Pretax Income | -$11.33M | ||
YoY Change | 43.43% | ||
Income Tax | $0.00 | $0.00 | |
% Of Pretax Income | |||
Net Earnings | -$13.64M | -$11.33M | |
YoY Change | 20.4% | 43.41% | |
Net Earnings / Revenue | -1267.68% | -2324.0% | |
Basic Earnings Per Share | -$23.93 | -$1.84 | |
Diluted Earnings Per Share | -$23.93 | -$1.84 | |
COMMON SHARES | |||
Basic Shares Outstanding | 560.9K shares | 4.662M shares | 30.62M shares |
Diluted Shares Outstanding | 569.9K shares | 171.0 shares |
Balance Sheet
Concept | 2024 Q4 | 2024 Q3 | 2023 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $2.830M | ||
YoY Change | -86.47% | ||
Cash & Equivalents | $5.913M | $2.977M | |
Short-Term Investments | $410.0K | ||
Other Short-Term Assets | $3.360M | ||
YoY Change | 148.02% | ||
Inventory | $1.530M | $7.052M | |
Prepaid Expenses | |||
Receivables | $347.0K | $206.4K | |
Other Receivables | $0.00 | ||
Total Short-Term Assets | $8.681M | $13.45M | |
YoY Change | -35.45% | -47.99% | |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $285.1K | $1.264M | |
YoY Change | -77.45% | 107.28% | |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $199.3K | $199.3K | |
YoY Change | 0.0% | -32.33% | |
Total Long-Term Assets | $1.326M | $2.696M | |
YoY Change | -50.83% | 7.57% | |
TOTAL ASSETS | |||
Total Short-Term Assets | $8.681M | $13.45M | |
Total Long-Term Assets | $1.326M | $2.696M | |
Total Assets | $10.01M | $16.15M | |
YoY Change | -38.02% | -43.09% | |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $255.6K | $3.471M | |
YoY Change | -92.64% | 630.5% | |
Accrued Expenses | $1.518M | $1.809M | |
YoY Change | -16.08% | -27.62% | |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $29.71M | ||
YoY Change | |||
Long-Term Debt Due | $10.00K | ||
YoY Change | -99.94% | ||
Total Short-Term Liabilities | $4.188M | $36.17M | |
YoY Change | -88.42% | 87.79% | |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $70.00K | ||
YoY Change | 27.43% | ||
Other Long-Term Liabilities | $850.0K | ||
YoY Change | -31.33% | ||
Total Long-Term Liabilities | $920.0K | ||
YoY Change | -28.83% | ||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $4.188M | $36.17M | |
Total Long-Term Liabilities | $920.0K | ||
Total Liabilities | $4.948M | $37.09M | |
YoY Change | -86.66% | 80.45% | |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$161.1M | -$117.4M | |
YoY Change | 37.23% | 72.79% | |
Common Stock | $6.00 | $63.00 | |
YoY Change | -90.48% | -68.18% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $5.058M | -$20.94M | |
YoY Change | |||
Total Liabilities & Shareholders Equity | $10.01M | $16.15M | |
YoY Change | -38.02% | -43.09% |
Cashflow Statement
Concept | 2024 Q4 | 2024 Q3 | 2023 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$13.64M | -$11.33M | |
YoY Change | 20.4% | 43.41% | |
Depreciation, Depletion And Amortization | $72.33K | $65.73K | |
YoY Change | 10.05% | -75.28% | |
Cash From Operating Activities | -$6.220M | ||
YoY Change | -5.78% | ||
INVESTING ACTIVITIES | |||
Capital Expenditures | $430.0K | ||
YoY Change | -517.15% | ||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | ||
YoY Change | |||
Cash From Investing Activities | -$430.0K | ||
YoY Change | 317.15% | ||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 1.110M | ||
YoY Change | -95.02% | ||
NET CHANGE | |||
Cash From Operating Activities | -6.220M | ||
Cash From Investing Activities | -430.0K | ||
Cash From Financing Activities | 1.110M | ||
Net Change In Cash | -5.540M | ||
YoY Change | -135.53% | ||
FREE CASH FLOW | |||
Cash From Operating Activities | -$6.220M | ||
Capital Expenditures | $430.0K | ||
Free Cash Flow | -$6.650M | ||
YoY Change | 2.33% |
Facts In Submission
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|
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2024-09-30 | ||
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001-40867 | ||
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Volcon, Inc. | ||
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DE | ||
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84-4882689 | ||
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3121 Eagles Nest Street | ||
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Suite 120 | ||
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Round Rock | ||
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|
1470554 | usd |
CY2023Q3 | VLCN |
Loss On Repayment Of May2024 Notes
LossOnRepaymentOfMay2024Notes
|
-0 | usd |
VLCN |
Loss On Repayment Of May2024 Notes
LossOnRepaymentOfMay2024Notes
|
1470554 | usd | |
VLCN |
Loss On Repayment Of May2024 Notes
LossOnRepaymentOfMay2024Notes
|
-0 | usd | |
CY2024Q3 | VLCN |
Gain Loss On Exercise Of And Change In Fair Value Of Financial Liabilities
GainLossOnExerciseOfAndChangeInFairValueOfFinancialLiabilities
|
53724 | usd |
CY2023Q3 | VLCN |
Gain Loss On Exercise Of And Change In Fair Value Of Financial Liabilities
GainLossOnExerciseOfAndChangeInFairValueOfFinancialLiabilities
|
-684994 | usd |
VLCN |
Gain Loss On Exercise Of And Change In Fair Value Of Financial Liabilities
GainLossOnExerciseOfAndChangeInFairValueOfFinancialLiabilities
|
-14673972 | usd | |
VLCN |
Gain Loss On Exercise Of And Change In Fair Value Of Financial Liabilities
GainLossOnExerciseOfAndChangeInFairValueOfFinancialLiabilities
|
5107794 | usd | |
CY2024Q3 | us-gaap |
Interest Expense Nonoperating
InterestExpenseNonoperating
|
83334 | usd |
CY2023Q3 | us-gaap |
Interest Expense Nonoperating
InterestExpenseNonoperating
|
1135089 | usd |
us-gaap |
Interest Expense Nonoperating
InterestExpenseNonoperating
|
610299 | usd | |
us-gaap |
Interest Expense Nonoperating
InterestExpenseNonoperating
|
4518324 | usd | |
CY2024Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-1503866 | usd |
CY2023Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-1874785 | usd |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-18384692 | usd | |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-21745717 | usd | |
CY2024Q3 | us-gaap |
Income Loss Attributable To Parent
IncomeLossAttributableToParent
|
-13638478 | usd |
CY2023Q3 | us-gaap |
Income Loss Attributable To Parent
IncomeLossAttributableToParent
|
-11327896 | usd |
us-gaap |
Income Loss Attributable To Parent
IncomeLossAttributableToParent
|
-40292940 | usd | |
us-gaap |
Income Loss Attributable To Parent
IncomeLossAttributableToParent
|
-41655559 | usd | |
CY2024Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd |
CY2023Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd | |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd | |
CY2024Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-13638478 | usd |
CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-11327896 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-40292940 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-41655559 | usd | |
CY2024Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-23.93 | |
CY2023Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-66245.01 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-190.65 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-272258.56 | ||
CY2024Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-23.93 | |
CY2023Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-66245.01 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-190.65 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-272258.56 | ||
CY2024Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
569873 | shares |
CY2023Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
171 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
211341 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
153 | shares | |
CY2024Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
569873 | shares |
CY2023Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
171 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
211341 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
153 | shares | |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-19631021 | usd |
VLCN |
Issuance Of Common Stock For Exercise Of Series Warrants
IssuanceOfCommonStockForExerciseOfSeriesWarrants
|
17352653 | usd | |
VLCN |
Proceeds Received For Exercise Of Buydown Warrants
ProceedsReceivedForExerciseOfBuydownWarrants
|
3500 | usd | |
VLCN |
Common Stock Issued For Conversion Of Convertible Notes
CommonStockIssuedForConversionOfConvertibleNotes
|
7395907 | usd | |
us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
24716118 | usd | |
VLCN |
Issuance Of Common Stock For Exercise Of Series B Warrants
IssuanceOfCommonStockForExerciseOfSeriesBWarrants
|
1 | usd | |
VLCN |
Reclassification Of Warrant Liability To Equity
ReclassificationOfWarrantLiabilityToEquity
|
3405662 | usd | |
us-gaap |
Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
|
1023200 | usd | |
VLCN |
Issuance Of Common Stock And Prefunded Warrants Net Of Issuance Costs
IssuanceOfCommonStockAndPrefundedWarrantsNetOfIssuanceCosts
|
10789261 | usd | |
us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
295882 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-40292940 | usd | |
CY2024Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
5058223 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
635013 | usd |
us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
25000 | usd | |
us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
4570100 | usd | |
us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
2223356 | usd | |
VLCN |
Reclassification Of Derivative Liabilities To Equity
ReclassificationOfDerivativeLiabilitiesToEquity
|
13262055 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-41655559 | usd | |
CY2023Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-20940036 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-40292940 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-41655559 | usd | |
VLCN |
Loss On Repayment Of May2024 Notes
LossOnRepaymentOfMay2024Notes
|
1470554 | usd | |
VLCN |
Loss On Repayment Of May2024 Notes
LossOnRepaymentOfMay2024Notes
|
0 | usd | |
VLCN |
Loss On Extinguishment Of Convertible Notes
LossOnExtinguishmentOfConvertibleNotes
|
1314065 | usd | |
VLCN |
Loss On Extinguishment Of Convertible Notes
LossOnExtinguishmentOfConvertibleNotes
|
22296988 | usd | |
VLCN |
Loss On Conversion Of Convertible Notes To Common Stock
LossOnConversionOfConvertibleNotesToCommonStock
|
333544 | usd | |
VLCN |
Loss Gain On Change In Fair Value Of Financial Liabilities
LossGainOnChangeInFairValueOfFinancialLiabilities
|
-14839326 | usd | |
VLCN |
Loss Gain On Change In Fair Value Of Financial Liabilities
LossGainOnChangeInFairValueOfFinancialLiabilities
|
5107794 | usd | |
VLCN |
Gain On Exercise Of Series B Warrants
GainOnExerciseOfSeriesBWarrants
|
-165355 | usd | |
VLCN |
Gain On Exercise Of Series B Warrants
GainOnExerciseOfSeriesBWarrants
|
0 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
295882 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2223356 | usd | |
us-gaap |
Inventory Write Down
InventoryWriteDown
|
9062364 | usd | |
us-gaap |
Inventory Write Down
InventoryWriteDown
|
1786365 | usd | |
us-gaap |
Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
|
-0 | usd | |
us-gaap |
Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
|
-85756 | usd | |
us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-842555 | usd | |
us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
6423 | usd | |
us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
-26172 | usd | |
us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
66990 | usd | |
us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
553803 | usd | |
us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
4516041 | usd | |
us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
295019 | usd | |
us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
274895 | usd | |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
269570 | usd | |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
173803 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
117533 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-591520 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
784169 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
3192019 | usd | |
us-gaap |
Increase Decrease In Inventories And Other Operating Assets
IncreaseDecreaseInInventoriesAndOtherOperatingAssets
|
995245 | usd | |
us-gaap |
Increase Decrease In Inventories And Other Operating Assets
IncreaseDecreaseInInventoriesAndOtherOperatingAssets
|
-20919 | usd | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-1431359 | usd | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
956689 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-575620 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
2434270 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
583157 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-264747 | usd | |
us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-295005 | usd | |
us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-265161 | usd | |
us-gaap |
Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
|
-311162 | usd | |
us-gaap |
Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
|
177534 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-12272003 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-16799955 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
276420 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
818399 | usd | |
us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
19717 | usd | |
us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
0 | usd | |
us-gaap |
Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
|
58058 | usd | |
us-gaap |
Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
|
0 | usd | |
us-gaap |
Proceeds From Sale Of Other Assets Investing Activities
ProceedsFromSaleOfOtherAssetsInvestingActivities
|
0 | usd | |
us-gaap |
Proceeds From Sale Of Other Assets Investing Activities
ProceedsFromSaleOfOtherAssetsInvestingActivities
|
89000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-198645 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-729399 | usd | |
us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
47031 | usd | |
us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
76801 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
10789261 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
0 | usd | |
VLCN |
Repayment Of May2024 Notes
RepaymentOfMay2024Notes
|
2942170 | usd | |
VLCN |
Repayment Of May2024 Notes
RepaymentOfMay2024Notes
|
-0 | usd | |
us-gaap |
Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
2255851 | usd | |
us-gaap |
Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
0 | usd | |
VLCN |
Proceeds From Exercise Of Series B Warrants
ProceedsFromExerciseOfSeriesBWarrants
|
130522 | usd | |
VLCN |
Proceeds From Exercise Of Series B Warrants
ProceedsFromExerciseOfSeriesBWarrants
|
0 | usd | |
VLCN |
Proceeds From Exercise Of Buy Down Warrants
ProceedsFromExerciseOfBuyDownWarrants
|
3500 | usd | |
VLCN |
Proceeds From Exercise Of Buy Down Warrants
ProceedsFromExerciseOfBuyDownWarrants
|
0 | usd | |
us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
0 | usd | |
us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
4570100 | usd | |
VLCN |
Proceeds From Issuance Of Convertible Notes And Warrants Net Of Issuance Costs
ProceedsFromIssuanceOfConvertibleNotesAndWarrantsNetOfIssuanceCosts
|
0 | usd | |
VLCN |
Proceeds From Issuance Of Convertible Notes And Warrants Net Of Issuance Costs
ProceedsFromIssuanceOfConvertibleNotesAndWarrantsNetOfIssuanceCosts
|
3913033 | usd | |
us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
537250 | usd | |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
0 | usd | |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
25000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
10189933 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
8968582 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-2280715 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-8560772 | usd | |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
8193346 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
11537842 | usd |
CY2024Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
5912631 | usd |
CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
2977070 | usd |
us-gaap |
Interest Paid Net
InterestPaidNet
|
54904 | usd | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
6474 | usd | |
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
0 | usd | |
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
0 | usd | |
VLCN |
Conversion Of Convertible Notes For Common Stock
ConversionOfConvertibleNotesForCommonStock
|
7414025 | usd | |
VLCN |
Conversion Of Convertible Notes For Common Stock
ConversionOfConvertibleNotesForCommonStock
|
0 | usd | |
VLCN |
Exchange Of Convertible Notes For Preferred Stock
ExchangeOfConvertibleNotesForPreferredStock
|
24716118 | usd | |
VLCN |
Exchange Of Convertible Notes For Preferred Stock
ExchangeOfConvertibleNotesForPreferredStock
|
0 | usd | |
VLCN |
Reclassification Of Warrant Liability To Equity For Cashless Exercise Of Series Warrants
ReclassificationOfWarrantLiabilityToEquityForCashlessExerciseOfSeriesWarrants
|
17352653 | usd | |
VLCN |
Reclassification Of Warrant Liability To Equity For Cashless Exercise Of Series Warrants
ReclassificationOfWarrantLiabilityToEquityForCashlessExerciseOfSeriesWarrants
|
0 | usd | |
VLCN |
Reclassification Of Warrant Liability To Equity For Modificationof Series B Warrants
ReclassificationOfWarrantLiabilityToEquityForModificationofSeriesBWarrants
|
3405662 | usd | |
VLCN |
Reclassification Of Warrant Liability To Equity For Modificationof Series B Warrants
ReclassificationOfWarrantLiabilityToEquityForModificationofSeriesBWarrants
|
0 | usd | |
VLCN |
Exchange Of Property Equipment In Lieu Of Payments Due For Inventory Purchases
ExchangeOfPropertyEquipmentInLieuOfPaymentsDueForInventoryPurchases
|
60000 | usd | |
VLCN |
Exchange Of Finished Goods Inventory With Vendor For Raw Materials Inventory
ExchangeOfFinishedGoodsInventoryWithVendorForRawMaterialsInventory
|
417285 | usd | |
VLCN |
Exchange Of Finished Goods Inventory With Vendor For Raw Materials Inventory
ExchangeOfFinishedGoodsInventoryWithVendorForRawMaterialsInventory
|
0 | usd | |
us-gaap |
Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
|
0 | usd | |
us-gaap |
Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
|
96024 | usd | |
CY2024Q1 | us-gaap |
Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
|
7400000 | usd |
CY2024Q4 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
1 for 8 stock split | |
CY2024Q2 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
1 for 100 stock split | |
CY2024Q1 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
1 for 45 stock split | |
CY2023Q4 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
1 for 5 stock split | |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_841_eus-gaap--UseOfEstimates_z3kp95lpzkG1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_86D_z3JaBg0FL0Z1">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; text-align: justify">The preparation of the financial statements in conformity with 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; text-align: justify">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; text-align: justify"> </p> | ||
CY2024Q3 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | usd |
CY2023Q4 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | usd |
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_843_eus-gaap--ConcentrationRiskCreditRisk_z9nlB1wjAZ07" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_862_zBqIHprpo7te">Concentration Risk</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company outsources certain portions of product design and development for its vehicles to third parties. In addition, the Company has outsourced the manufacturing of all of its vehicles to third party manufacturers, including one manufacturer for two of its vehicles, the Stag and Grunt EVO, and this third party was also performing product design and development services on the Stag until it reached production in February 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">One supplier provides the battery and drivetrain components for the Company’s utility terrain vehicle, the Stag. The components are critical to the operation of the Stag. The third party manufacturer sources other components from third party suppliers or fabricates them from materials sourced from third parties.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 8, 2024, the Company notified the manufacturer of the Volcon Youth motorcycles that it was terminating the co-branding and distribution agreement with them due to lower than anticipated sales of these units. In March 2024, the Company agreed to allow the manufacturer to keep all fully paid for units manufactured and held by the manufacturer, cease selling the Volcon Youth motorcycles as of June 30, 2024, and pay cash of $<span id="xdx_90E_eus-gaap--LitigationSettlementExpense_pp0p0_c20230101__20231231__srt--CounterpartyNameAxis__custom--VolconYouthMotorcyclesMember_zPuuJ5fOjh5g" title="Litigation settlement expense">2,070,000</span> which included a payment of $370,000 in March 2024 and $100,000 monthly for seventeen months starting April 2024. The settlement was recorded in the financial statements for the year ended December 31, 2023. The balance of the liability as of September 30, 2024, is $<span id="xdx_906_eus-gaap--SettlementLiabilitiesCurrent_iI_c20240930__srt--CounterpartyNameAxis__custom--VolconYouthMotorcyclesMember_zieVifJr4R4" title="Settlement liability">1,100,000</span>. On October 2, 2024, the Company and the manufacturer amended the settlement agreement and the Company agreed to pay the manufacturer $<span id="xdx_90A_eus-gaap--LitigationSettlementExpense_pp0p0_c20241001__20241031__srt--CounterpartyNameAxis__custom--VolconYouthMotorcyclesMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zfETNZimAws4" title="Litigation settlement expense">300,000</span> by October 31, 2024 to fully settle the remaining payments under the March 2024 agreement and to return any remaining spare parts and finished goods held by the Company in its Texas warehouse. The Company will recognize a reduction of expense of $<span id="xdx_904_ecustom--ReductionInCostOfGoodsAndServicesSold_c20240101__20241231__srt--CounterpartyNameAxis__custom--VolconYouthMotorcyclesMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zXQDlzcphNea" title="Reduction in cost of goods sold">700,000</span> in cost of goods sold in the three months and year ended December 31, 2024 related to this amendment. All Volcon Youth inventory was written off as of June 30, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In June 2024, the Company was notified by the manufacturer of a suspension component for the Stag that due to the Company’s initial production forecast provided by the third party manufacturer of the Stag, the vendor had acquired raw materials to fulfill several months’ worth of this component needed for the forecast. Although the Company had provided updated forecasts to the third party manufacturer of the Stag, the revised forecasts were not provided timely to this vendor. The Company entered into an agreement to pay for the excess raw materials by making weekly payments in the amount of $15,704 over an eighteen-month period once the Company validates the inventory quantities and amounts paid by the vendor. In August 2024, the Company and the manufacturer determined that the inventory quantities and amount were less than the initial amount and adjusted the weekly payments to $13,791. The Company initially recorded an expense of $<span id="xdx_906_eus-gaap--CostOfGoodsAndServicesSold_c20240401__20240630__us-gaap--TransactionTypeAxis__custom--StagSuspensionComponentMember_zgRlZqUQgSGc" title="Cost of goods sold"><span id="xdx_90A_eus-gaap--CostOfGoodsAndServicesSold_c20240101__20240630__us-gaap--TransactionTypeAxis__custom--StagSuspensionComponentMember_zSr1F56QnKD5" title="Cost of goods sold">1,117,429</span></span> in cost of goods sold for the three and six months ended June 30, 2024 and subsequently recorded an expense reduction of $<span id="xdx_902_ecustom--ReductionInCostOfGoodsSold_c20240701__20240930__us-gaap--TransactionTypeAxis__custom--StagSuspensionComponentMember_zMCSAJcI38X3" title="Reduction in cost of goods sold">26,121</span> in the three months ended September 30, 2024 after validation of the inventory quantities and value as well as an accrual for additional inventory purchases required under the agreement. The short-term and long-term liability as of September 30, 2024 is $<span id="xdx_903_eus-gaap--OtherLiabilitiesCurrent_iI_c20240930__us-gaap--TransactionTypeAxis__custom--StagSuspensionComponentMember_zgE0mzuSTGN7" title="Short term liability">751,639</span> and $<span id="xdx_90E_eus-gaap--OtherLiabilitiesNoncurrent_iI_c20240930__us-gaap--TransactionTypeAxis__custom--StagSuspensionComponentMember_zzYBaRxBcqYe" title="Long term liability">282,230</span>, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> | ||
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DeferredTaxAssetsGross
|
27752042 | usd |
CY2024Q3 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
27389592 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
27171016 | usd |
CY2024Q3 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
256642 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
581026 | usd |
CY2024Q3 | us-gaap |
Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
|
79992 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
|
342421 | usd |
CY2024Q3 | VLCN |
Deferred Tax Liabilities Right Of Use Assets
DeferredTaxLiabilitiesRightOfUseAssets
|
176650 | usd |
CY2023Q4 | VLCN |
Deferred Tax Liabilities Right Of Use Assets
DeferredTaxLiabilitiesRightOfUseAssets
|
238605 | usd |
CY2024Q3 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
0 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
0 | usd |
CY2024Q3 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
113900000 | usd |
CY2024Q3 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
117249 | usd |
CY2023Q3 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
117249 | usd |
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
351747 | usd | |
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
351748 | usd | |
CY2024Q3 | us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
44400 | usd |
CY2023Q3 | us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
30751 | usd |
us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
119591 | usd | |
us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
120271 | usd | |
CY2024Q3 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
0 | usd |
CY2023Q3 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
0 | usd |
us-gaap |
Variable Lease Cost
VariableLeaseCost
|
0 | usd | |
us-gaap |
Variable Lease Cost
VariableLeaseCost
|
0 | usd | |
CY2024Q3 | us-gaap |
Sublease Income
SubleaseIncome
|
0 | usd |
CY2023Q3 | us-gaap |
Sublease Income
SubleaseIncome
|
0 | usd |
us-gaap |
Sublease Income
SubleaseIncome
|
0 | usd | |
us-gaap |
Sublease Income
SubleaseIncome
|
0 | usd | |
CY2024Q3 | us-gaap |
Lease Cost
LeaseCost
|
161649 | usd |
CY2023Q3 | us-gaap |
Lease Cost
LeaseCost
|
148000 | usd |
us-gaap |
Lease Cost
LeaseCost
|
471338 | usd | |
us-gaap |
Lease Cost
LeaseCost
|
472019 | usd | |
us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
295007 | usd | |
us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
265161 | usd | |
us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
295019 | usd | |
us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
274895 | usd | |
CY2024Q3 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
841194 | usd |
CY2023Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
1136213 | usd |
CY2024Q3 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
432059 | usd |
CY2023Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
399611 | usd |
CY2024Q3 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
447717 | usd |
CY2023Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
775170 | usd |
CY2024Q3 | VLCN |
Operating Lease Liability1
OperatingLeaseLiability1
|
879776 | usd |
CY2023Q4 | VLCN |
Operating Lease Liability1
OperatingLeaseLiability1
|
1174781 | usd |
CY2024Q3 | us-gaap |
Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
|
P1Y10M24D | |
CY2024Q3 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0682 | pure |
CY2024Q3 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
119898 | usd |
CY2024Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
485702 | usd |
CY2024Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
340591 | usd |
CY2024Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
946191 | usd |
CY2024Q3 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
66415 | usd |
CY2024Q3 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
879776 | usd |
CY2024Q3 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
CY2024Q3 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
CY2024Q3 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
CY2024Q3 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false |