Previous balance sheets are pretty bad + negative equity of €4,237,923, no updated balance sheet for 2018, no budgeted balance sheet for 2019, no real sales team (the 4 sales person mentioned in your presentation are no longer active and it seems they have never been part of the company - according to their LinkedIn profile), last but not least; a flash fundraising (3 days)...We ´d like to have additional informations
Sorry for my late answer. You are right, the financial situation of the company when I took over as CEO (in November) was really bad. Since then, I have been very busy putting things in order. So far, the plan is perfectly respected but I need 1,2 mi. to realise the necessary investments and bring the company to profitability. It is not a given but we are confident we can deliver the plan.
As far as the 2018 accounts, I am sorry but they are still confidential as the General Assembly (convened for June 25th) has not approved them yet. I understand it would be more comfortable to fund after however we really need the funds by the end of the month and can not delay the closing. The existing shareholders who will be funding more than 90% of the fundraising are ready to go.
The sales team is made by freelance experienced salespersons who are only rewarded by commissions (that wasn’t the case under the preceding management). We target specific B2B (and B2G) customers and we don’t need to have a full time costly internal sales team. Except from Gunter (VitaeMobility), all this team is new and still in construction. Eventually, I take the opportunity of your question to announce that Zen Car is still looking after freelance motivated salespersons ! I should add that I am of course involved in sales as well and will now finally have time to spend almost half of my time working on the large accounts to bring them in.
Dear Laurent, thank you for your answer and your transparency. However, investing in a rescue operation doesn’t interest me or my team. I prefer constructive projects rather than a rescue aimed at the resale and recovery of shareholders. The initial idea is certainly interesting but not innovative. the only point that sets you apart from the competition is the EV. very controversial subject too ...
thanks again and good luck.
And no response by anyone here neither. Spreds should/could also do better...
Perfect place here huh ;) to make the scam appear all the more legitimate. Everything in this project looks like a rescue operation. Maybe big investors need their money back after 9 years of waiting ;-)