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CoreWeave
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A bit from new 8K yesterday
$Damon (DMN.US)$ For Immediate Release
Damon Inc. Issues CEO Letter Providing Business Update and Outlining Production Roadmap
SAN RAFAEL, Calif., Nov. 25, 2024 /– Damon Inc. (Nasdaq: DMN) (“Damon” or the “Company”), maker of advanced electric motorcycles, today announced the release of a letter from its Chief Executive Officer, Jay Giraud, providing an update on the Company’s development progress, funding challenges, and planned roadmap to production.
Business Highlights
The Company has achieved the following milestones in its development efforts:
● Over 3,000 refundable reservations for its electric motorcycles, representing a potential revenue opportunity of approximately $100 million, contingent upon the successful conversion of these refundable pre-orders into confirmed sales.
● 16 issued patents and 22 pending patent applications covering proprietary electric vehicle technologies, including the HyperDrive™ powertrain and CoPilot™ safety system.
● Progress in vehicle mechanics and power electronics, both reported as 90% complete, and 70% completion of battery system development.
These achievements are significant steps forward but remain subject to risks, including the availability of sufficient financing to execute the Company’s plans.
PRODUCTION ROADMAP
Subject to securing adequate funding, the Company intends to transition from development to production as follows:
● Late-Stage Engineering (2024–2025): Finalize mechanical and electrical systems, complete battery system development, and validate all key components.
● Pre-Production (Target Completion: Q4 2025): Build and test pre-production prototypes to validate designs, regulatory compliance, and tooling readiness.
● Production and Commercialization (Target Start: 2026): Establish a manufacturing facility in its current HQ in San Rafael, California, and commence production, subject to capital availability and successful completion of all regulatory requirements
POWERHOUSE PARTNERSHIPS:
● Backed by global titans: Fukuta Motors, NXP Semiconductor, Molicel and others TBA
● New California assembly facility situated in San Rafael
● Merger with Grafiti Holdings completed
Dear Damon shareholders, supporters, reservation holders and enthusiasts,
I am deeply grateful for your steadfast support and dedication over the past two and half years – a period that has proven challenging for us all. Your belief in our mission has been a cornerstone of our perseverance during a time when many early-stage startups struggled to survive. You deserve a transparent account of the journey we have endured together and an understanding of the hurdles that has led us to where we are now, starting with a roadmap of what we need to do to get to production.
Damon Inc. Issues CEO Letter Providing Business Update and Outlining Production Roadmap
SAN RAFAEL, Calif., Nov. 25, 2024 /– Damon Inc. (Nasdaq: DMN) (“Damon” or the “Company”), maker of advanced electric motorcycles, today announced the release of a letter from its Chief Executive Officer, Jay Giraud, providing an update on the Company’s development progress, funding challenges, and planned roadmap to production.
Business Highlights
The Company has achieved the following milestones in its development efforts:
● Over 3,000 refundable reservations for its electric motorcycles, representing a potential revenue opportunity of approximately $100 million, contingent upon the successful conversion of these refundable pre-orders into confirmed sales.
● 16 issued patents and 22 pending patent applications covering proprietary electric vehicle technologies, including the HyperDrive™ powertrain and CoPilot™ safety system.
● Progress in vehicle mechanics and power electronics, both reported as 90% complete, and 70% completion of battery system development.
These achievements are significant steps forward but remain subject to risks, including the availability of sufficient financing to execute the Company’s plans.
PRODUCTION ROADMAP
Subject to securing adequate funding, the Company intends to transition from development to production as follows:
● Late-Stage Engineering (2024–2025): Finalize mechanical and electrical systems, complete battery system development, and validate all key components.
● Pre-Production (Target Completion: Q4 2025): Build and test pre-production prototypes to validate designs, regulatory compliance, and tooling readiness.
● Production and Commercialization (Target Start: 2026): Establish a manufacturing facility in its current HQ in San Rafael, California, and commence production, subject to capital availability and successful completion of all regulatory requirements
POWERHOUSE PARTNERSHIPS:
● Backed by global titans: Fukuta Motors, NXP Semiconductor, Molicel and others TBA
● New California assembly facility situated in San Rafael
● Merger with Grafiti Holdings completed
Dear Damon shareholders, supporters, reservation holders and enthusiasts,
I am deeply grateful for your steadfast support and dedication over the past two and half years – a period that has proven challenging for us all. Your belief in our mission has been a cornerstone of our perseverance during a time when many early-stage startups struggled to survive. You deserve a transparent account of the journey we have endured together and an understanding of the hurdles that has led us to where we are now, starting with a roadmap of what we need to do to get to production.
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far008 : I'm excited for these guys. Ducati produces 50,000 bikes per year. I think people miss the point. if Jay delivers, this can very certainly be the Tesla of the motor world. there will be dilution for sure but it needs to be done smart to raise for the built for the manufacturing facility in San Rafael. moving from Canada to the US was a great strategy. there are so many fundamental problems in Canada for startups. I think if he fails to deliver this will be another Muln.
Trytosaveabit OP far008 : I have to agree! I think you’re spot on! GL and big profits to ya