Faraday Future (FF) recently announced that it is working with Shareintel to combat potential market manipulation and illegal short selling. FF has completed the first phase of identification and analysis and will continue to work on the second phase to further reduce the occurrence of such activities. There is an imbalance in FF** reporting in the market, which can be caused by non-compliant or illegal trading activities, which makes FF a target for manipulation and illegal short selling in the market. FF's management and board of directors attach great importance to the interests of shareholders and will take all necessary measures to stop market manipulation of the company.
FF hired Shareintel to assist in identifying potential illegal short selling and other abusive trading activities. According to the results of the first phase of the analysis, there was an imbalance in the reporting of ff**, which was due to non-compliance or illegal trading activities. This is a clear indication that certain parties to the transaction have a large number of shares of FF common stock, but have not fulfilled their obligations to deliver. These findings have raised concerns about the potential for market manipulation and illegal short selling.
FF has partnered with Shareintel to identify and analyze potential illegal trading activity through data analysis and monitoring. The partnership aims to identify illegal short selling and other abusive trading activities in the market, and to provide effective prevention and response measures for companies. The first phase of work has been completed and it has been concluded that there is an imbalance in reporting on FF**, which is mainly due to non-compliant or illegal trading activities. This imbalance is considered a sign of market manipulation and illegal short selling, which can negatively impact the company's operations and shareholder interests. In order to further safeguard the company's reputation and stable market environment, FF has launched the second phase of its work, working with Shareintel to conduct more in-depth investigation and analysis to reduce the occurrence of illegal transactions.
Matthia Saydt, global chief executive officer of FF, said they were deeply concerned that FF could be a target for market manipulation and illegal short selling, based on ShareIntel's current analysis. As FF's management, they attach great importance to the interests of their shareholders and are determined to take all necessary actions to prevent FF from becoming a target for market manipulation.
FF's CEO, Matthia Saydt, expressed deep concern about the potential for market manipulation and illegal short selling. He said that based on the results of the current analysis, there is a risk that FF will be targeted for market manipulation and illegal short selling. As a company that values the interests of its shareholders, FF's management is determined to take all necessary actions to protect the rights and interests of shareholders and the reputation of the company. They will work closely with ShareIntel to take effective measures to thoroughly clean up illegal trading activities in the market and create a fair and transparent market environment for the company.
According to the third-quarter earnings report released by FF, the company generated 55. for the first time in the Q3 fiscal quarterRevenues of $10,000, cost of sales of $16.1 million and operating loss of $66.4 million improved from a loss of $80 million in the year-ago quarter. FF explained that this was mainly due to lower R&D spending and improved overhead. The company has already successfully delivered seven FF91 vehicles and plans to increase deliveries to two units per week from the last week of November. FF aims to produce around 1,000 vehicles by 2024, provided that the required capital, the stability of the ** chain, and the necessary permits can be obtained.
FF's latest financial report shows that in the third quarter, the company achieved 55Revenue of $10,000 was an improvement from the same period last year. At the same time, the cost of sales was $16.1 million and the operating loss was $66.4 million, which was a reduction from the loss in the same period last year. FF explained that the improvement was mainly due to the reduction of the company's R&D expenditure and the improvement of administrative expenses. This also shows FF's positive efforts and continuous improvement in financial management.
In addition, in terms of deliveries, FF has already successfully delivered seven FF91 vehicles and plans to increase weekly deliveries to two from the last week of November. This is an important milestone for the company, and it also shows that FF has made some progress in promoting the production and delivery of new energy vehicles. According to the company's plan, FF aims to reach an annual production capacity of about 1,000 vehicles by 2024. But to achieve this goal, the company needs to obtain the necessary licenses and recognitions in addition to the required capital and chain stability. This is also the direction that FF needs to work on next.
For fundraising, FF raised nearly $61.8 million through a series of fundraising activities. These financing sources include convertible notes, equity lines of credit, and ATM financing. In addition, FF has made an asset financing through and leaseback of its manufacturing facility in Hanford, California, resulting in up to $12 million in non-dilutive equity capital for the company.
In order to meet the funding needs, FF adopted a variety of financing methods and successfully raised nearly $61.8 million in funding. Among them, financing methods such as convertible notes, equity lines of credit and ATM financing provide flexible financial support for the company. In addition, FF has achieved asset financing through ** and leaseback its manufacturing facility in Hanford, California, injecting up to $12 million in non-dilutive equity into the company. These financing activities provide financial guarantee for the company's development and provide a more stable foundation for future R&D and production.
Under the warning of the CEO of FF Global, FF has become aware of the risks of market manipulation and illegal short selling, and has begun working with Shareintel to identify and respond to these activities. FF management values the interests of shareholders and is committed to taking all necessary measures to protect the rights and interests of the company and shareholders. At the same time, through the financial report data, we can also see that FF has made some progress in terms of financial position and delivery plan. Financing activities and asset financing provide the company with the necessary financial support and lay a solid foundation for future development. However, FF still faces many challenges and uncertainties, such as funding needs, chain stability, and license recognition. Therefore, FF still needs to continue its efforts to maintain stable development and achieve sustainable growth.