Tue, Apr 15, 8:06 PM (26 days ago)
**Charging Robotics Inc. (CHEV)** **Financial Performance:** - **Revenue:** No revenue generated for the years ended December 31, 2024, and December 31, 2023. - **Net Income:** Net loss of $842,000 for the year ended December 31, 2024, compared to a net loss of $804,000 for the year ended December 31, 2023. - **Operating Expenses:** Total operating expenses were $777,000 for the year ended December 31, 2024, compared to $766,000 for the year ended December 31, 2023. - **Research and Development Costs:** $319,000 for the year ended December 31, 2024, compared to $329,000 for the year ended December 31, 2023. - **General and Administrative Costs:** $458,000 for the year ended December 31, 2024, compared to $437,000 for the year ended December 31, 2023. **Earnings per Share:** Basic and diluted loss per common stock was $0.09 for the year ended December 31, 2024, compared to $0.10 for the year ended December 31, 2023. **Strategic Overview:** - **Product Focus:** Wireless charging systems for electric vehicles (EVs) in robotic parking systems. - **Market Strategy:** Focus on public parking lots initially, with plans to expand to private markets. - **Business Models:** Three business models: EV Wireless Charging System, Software as a Service (SaaS), and Electricity for Charging. - **Partnerships:** Seeking cooperation with EV charging infrastructure companies and EV manufacturers. **Future Outlook:** - **Market Growth:** The EV market is expected to grow, with a projected 30% market share by 2030, requiring significant charging infrastructure. - **Product Development:** Next-generation product expected to be ready for commercialization in January 2025, with regulatory approval anticipated by April 2025. - **Market Demand:** Forecast indicates installation of approximately thirty systems by the end of 2024. **Risk Factors:** - **Financial Condition:** Substantial operating losses and lack of sufficient resources raise doubts about the ability to continue as a going concern. - **Market Risks:** Dependence on key personnel, rapid growth management, supply chain risks, and cybersecurity threats. - **Intellectual Property:** Reliance on patents and trade secrets, with risks of infringement and challenges in protecting IP globally. - **Regulatory Risks:** Subject to various regulations, with potential impacts on growth and operations. **Financial Condition:** - **Cash Balance:** $175,000 as of December 31, 2024, compared to $8,000 as of December 31, 2023. - **Total Assets:** $332,000 as of December 31, 2024, compared to $223,000 as of December 31, 2023. - **Total Liabilities:** $945,000 as of December 31, 2024, compared to $397,000 as of December 31, 2023. - **Working Capital:** Negative working capital of $654,000 as of December 31, 2024, compared to $297,000 as of December 31, 2023. **Market Position Changes:** - **Shareholders:** 141 shareholders of record as of March 12, 2025. - **Stock Listing:** Common stock listed on the OTC Markets under the ticker symbol “CHEV.” **Dividend Policy:** No dividends declared or paid, with no intention to pay dividends in the foreseeable future.