 This is MXUX. There's some news from Lordstown. Let's take a look Okay, we got January 28th at 9 p.m. So We got the 29th right now. This is being recorded Pre-production units are rolling off the assembly line at Lordstown Auto maker posted on his Facebook page on Friday that due to the collaboration with Foxconn pre-production vehicles are rolling off the assembly line Okay, this is On the NASDAQ website January 26th Which is yesterday publish And this is Ben climbing out of Detroit anyway Southern Wednesday it removed Lordstown has removed pricing and vehicles The specification details from his corporate web web site Okay, so I'm gonna show you that in a minute But anyway, this is the news the redesign on the website and They the main thing is According other than the price and the specs being gone. They had a comparison to the F-150 Ice vehicle So that's been removed as well overall refresh of the Website we started before the new year. Okay, the price Remains at $55,000 We're working towards fleet customers. We don't communicate through them to them through our website So our way our sales team is doing this every day So they are working and they are selling just because this website is down It just that this would be completed this year would be completed this update on the website Anyway The thing is This has all been removed and implies that There's gonna be some changes to the website anyway and Perhaps the specs of the endurance are down and also the comparison to the ice F-150 perhaps they're gonna compare it to the EV 150 or perhaps the specs have changed but Right now we're just looking at tea leaves What this is about is A redesign of the website. Okay, there's here. We're at the Lordstown Website and this is the specifications page They have the same skateboard up with the same motor configuration They have these You see now, this is where they've removed all the F-150 comparisons and This is what is on the website now So it looks like we're gonna have The hub motors are gonna remain the basic skateboard is going to remain Again They're gonna be comparing it to something they're gonna be comparing it to nothing We don't know but the overall comparison to the F-150 Ice vehicle is not there I'd like to see an update comparing it to the F-150 fleet vehicle because the endurance is a much better vehicle Okay, but it is there Okay, this is the guy the local guy that keeps Shooting the videos of the shipping containers in the parking lot at Lordstown Motors This is his latest video. I have stopped it here. I'll put a link to the video in In the description the thing is There's thousands of shipping containers Okay, and this is started. I mean basically as soon as the Foxconn sale was announced There's been thousands of shipping containers now or The first batch of shipping containers a lot of them were identified By a local according to comments on my website as going to the iridium Battery plant so they were labeled iridium Which is next door to Lordstown, which is a massive pouch battery facility that General Motors is building along with LG chem. I think it's a two point three billion dollar project They're already hiring people for it To train them to run it the shell of the buildings done Those other Shipping containers were in place right after this Foxconn deal was announced some of them may have been for Lordstown, but The news I had was a lot of them were marked for the battery plant now this is yet another set and this The video I'm the reason I'm not playing the video full video is it's very snowy. It's very hard to see Let me see if I can perhaps go through and find a good spot here You see it's it's pretty hard to really see See if this is better. No, you see what I mean. Anyway, the point is There's a lot of stuff going on at Lordstown at least in the parking lot now obviously they were sharing this parking lot with General Motors and General Motors is a stockholder of Lordstown by the way, everybody's talking about these insider sales to my knowledge GM has not sold and they own 5% Okay, so think about that Anyway, you know, we're just speculating here. I mentioned in my comments. I believe the endurance line is completely built out I think Schmidt had that thing ready to go. I don't I don't believe there's anything there Now could these be for the Fisker? What is it? The orange? 25k EV they're supposed to be building there I don't know if that's finalized, but they could be putting in specialized equipment for that This also could be some equipment to bolster the battery pack Assembly line as well as the hub motor manufacturing line, which the last series of reports we had on it from Lordstown was that it was Uprunning certified but was not built out the full capacity but a lot of activity This parking lot I have driven by this facility in the past It's gigantic the whole facility is gigantic. I mean it takes you literally if you drive around the backside of this facility It's a half hour. I mean, it's crazy and this parking lot is I Can't even describe to you how big it is. So anyway A lot of activity at the plan Again Lordstown saying nothing because of the SEC and the DOJ and You know what I agree with that. I think that's a great strategy Don't give the shorts and don't give these horrible people any Opportunities this truck. I'm gonna put a link and I'm gonna put it put my hand up here So I remember to put this link here. I just did a video on Tesla The endurance in my opinion is one of the few trucks that's gonna that's gonna sneak in and sneak some Markets here from Tesla also from GM also from Ford In the fleet market In my opinion, I'm gonna put a link to that anyway, here's a I'm just gonna roll this a little bit just to show you How much stuff and you really can't Envision this the other video he posted was better, but in the snow and so forth, but I gotta tell you This is a lot of stuff in the parking lot. All right This is a recent court decision that was Brought up by this horrible This website this local website is really jam-packed with crap. Anyway, this is January 26 Court orders Lordstown motors to pay 2.5 million for breach of contract This is over a company that was running a wastewater treatment plant To for me 2.5 million dollar judgment, okay When DT Lordstown file a civil complaint a trouble come according to the lawsuit DT E Lordstown Agreed to offer utility services to Lordstown motors project site Utility complex and wastewater treatment plan exchange for monthly payments from Lordstown, so This has to do with the water treatment and so on and kind of sore bills and so forth According to lawsuit lawsuit Lordstown motors explain the company had gotten behind on payments due to its fundraising efforts being delayed and I believe this was around when the Hindenburg horrible Hindenburg fake Hindenburg report came out. Anyway They they paid back some of what was owed to 2.3 million charges, so this is what's left outstanding 2.3 million of charges was for a so-called Termination fee so in other words they paid the bill if you remember they were late on this bill. That was a thing What this lawsuit is about is? They've sued for this, you know this massive termination fee Lordstown has They got a judgment against them and They've asked for a state of execution and appeal Okay, so in other words they were late on this bill. I think there was They said fundraising at the time. I think they said that it was an oversight Whatever it was they paid it, but this involves a Termination owner is termination fee, which they're fighting and I don't blame them. So that's the latest legal news From Lordstown. Thank goodness. That's that's pretty benign Okay, now this is a FUD piece that came out Simply Wall Street whoever these guys are Another FUD piece on market cap Insiders who sold 22 million worth of stock where they will offset their losses now. I just want to You know some of the people that left Schmidt burns and so forth, of course, they sold their stock They left the company perhaps they didn't agree with the changes You know, whatever the case may be that's the right to do I don't think they were technically insiders at that time They were outside the company. Now, let's just talk. I'm just gonna talk about the last Person that brought up This issue and it was the new council that was appointed to Lordstown and They made a big deal that soon as she was put in place She sold her stock. I Want to make a correction and I'm gonna give you my opinion on this. I'm not an accountant I'm not a financial advisor, but I've gone through the issue and this is my opinion on it what they have done In that case with this most recent executive appointment They what they they've done she did not sell that stock That stock was not issued to her in Lou of that stock being issued to her she basically was given like a $70,000 credit towards payroll taxes and other tax Liabilities she's gonna face so The issuer and this was plain as day and I have this in one of my previous videos on Lordstown here But I just want to reiterate it The issuer did not issue the stock now you're gonna understand In my opinion, this is financial gymnastics from Lordstown The volume is low on the stock the price is low on the stock Q's view did a very good video about delisting They want to keep the price stock up. Of course They're gonna come up with some financial gymnastics So that that stock is not issued because if that stock goes on the market With the low volume that that LMC that the ride stock has right now It's gonna be a big blip on the radar screen and then if that chunk of stock is sold so, you know at The price then was probably two dollars a share 60 70 thousand dollars worth of stock that's that's 35,000 shares of stock That's gonna be enough volume to affect the price of the stock It's gonna lower the price of the stock if that chunk goes on the market to be sold So rather than have that happen rather than issue the stock dilute the stock holders lower the price of The stock in that manner and then have it go on the market and have it be sold and again The lower the stock in that manner when the stock is trading at two dollars a share They chose not to issue the stock They issued this payment in lieu of that stock so You know the outsider this again, this is fun. Okay, this is fun Burns and Schmidt and the other people left there. They're not insiders. Okay There were other sales before but you know, these guys are allowed to be and this is a high-risk operation They're they're allowed to do insider sales You know For many of these you gotta understand as a former head hunter This this could be like a suicide mission for some of these guys, you know They this is very risky to join this operation. Should it fail entirely? I do not believe it will You know, it would very much hamper their careers. They have to do their own personal financial planning. I do not fault any President insider from selling shares. I understand the financial aspect, but this most recent thing that came out About the new council immediately getting the job getting the options and then selling them immediately But it's not true. Okay, and as I mentioned in the other section of this video GM owns five percent. They're not selling think about it Maybe they know something we don't know. Okay Hi, this is them actually. I just want to try to put a quick Summary on this. There's some construction going on Let's hope we can get this done Beforehand all right We got breadcrumbs here. We got nothing coming out of Lordstown They mentioned the redesign I've seen in comments some people think the trucks being redesigned The website is what is mentioned as being designed. Okay, and they're saying that They don't usually with their pitch into fleet customers their sales people are outside and fleet customers. So the website Isn't where the customers are getting all the information. Anyway, I'm just going to go through some of the possible Redesigns here just briefly. I think they they were comparing it to the f-150 ice. I Think maybe they're going to change that comparison to f-150 lightning So head-to-head costs on so forth For the lightning pro model I Think charge times versus the Ford and the Silverado is something they can stress Certainly wait, there's all kind of Advantages that they're missing comparing it to the f-150 ice As far as the Also the solid rear axle. I mean if they if they go head-to-head with the electric versions is going to be much better There's no changes to the tech mentioned or indicated because they've left up the hubs in the skateboard in my opinion Possible change would be the battery type size range that sort of thing So, you know, they can make the battery pack bigger. I don't know They could change the battery chemistry Again to make to the The battery pack bigger or add a secondary battery pack I don't know long range option or increase the range And or announce a range change. This would be really great They could do that if they've got EPA testing that shows the range at 300 you know with the added Regen from the hub motors that would be great So that's what I think is going on with that the parking lot containers You know the the past ones were identified in my comments by some people local ear that they had the GM Altium logo on them and that's what a lot of more for nobody's been in there to see exactly what they are but that's that's what At least some of the past ones were I Do believe the endurance assembly line at Jim at Lord's time is complete They could be part of the hub battery line build out because they are gonna have to Bring that up for mass production. So there could be some of that Perhaps the Fiskrup hair build out could be involved here because they may be Building a whole new line for a Fiskrup hair. I don't think that's gonna run on the same line Or with the endurance it would go to the same paint shop, but the assembly line would be different would be on those little Carts that roll around autonomously. Perhaps that's it I have down here perhaps LMC sub components, let's say seating But I don't I don't believe that's the case. I don't think they're gonna tie up Op-ex in inventory sitting in a parking lot. I think they're gonna use just in time inventory So It's either GM or Fisker are the majority of the containers. I think the rest are the Expansion of the hub and battery line could be wrong We have no way of knowing but I Think there's I think there's certainly some GM or Fisker in there And some hub battery line, which they're building out Now the endurance redesigned this was mentioned in the Comments I had that they were gonna read it redesigned the endurance I Don't think it's hinted or implied like I said the battery maybe I don't believe the body is gonna be changed I could be wrong Again if there's one change I think it would be the battery size range improvements publication of range improvements type of battery more efficient battery so forth Another redesign which which could be announced related to the battery is a vehicle to grid capability as being standard This would be a Differentiate them from the Silverado and the Ford lightning. This would allow them to Sell electricity back Turn the truck into an asset as a fleet It would be a big storage battery for the grid It would be able to sell electricity back to the grid. This would turn the endurance into actually a cash-generating Asset as well as a fleet truck Anyway that most of the changes I would think would be battery related. I think this v2g which I do believe The endurance is capable of or easily being Made capable of Is something that might be you know should be coming might be coming And then finally the financial information that I gathered here The lawsuit is a nothing burger. I think they're they're trying to negotiate that the severance fee That bill supposedly was forgotten. I don't know if that was a cash flow problem initially the bill has been paid There is a Fee for exiting that contract. I think that Fox con is entered into a new contract And this is onerous. I mean, it's really big. It's it's like bigger than the bill I think they're trying to negotiate that them insider stock sales as I mentioned not a sale so it's it's Fud and I think in general we have to wait for the earnings call to get more information Financial information. So that's the status is on ride right here with this news update. I hope you like it. I am Bullish as I said, I got a skinny bull on this and Let's wait for that earnings call. Thanks a lot. This is Mx ux