So i've been getting a lot of requests to do a fallout video about lord style motors sticker right. Some of you may remember that in october last year i made a video calling out lordstown, basically saying the company is fake. Let me recap what just happened with lordstown in the past two weeks now, a few days ago, they came out basically saying help mommy they came up with a growing concern going consuming for those of you who don't know it's essentially when you say well, we don't Have enough cash, i mean it's your problem. If you invested with us a few days later fast forward, they fired the ceo and the cfo, but the main explanation that they give is that, because the ceo and the cfo, allegedly on their own, without any involvement for everybody else, of course, fudged the numbers for The pre-orders, so essentially you have a very similar kind of case with what happened with nicola, and a lot of you have been asking me to make a video about this.

To follow up on the story - and i told you every single one of you - i'm not about to make a video just to tell you, i told you so then i went to bed and i was like. I really want to make a video telling you. I told you so so i told you some now beyond the jokes, let's talk about lord sound in this video, i want to get a little bit serious with you now. Lordstown is actually in way deeper than they want you to believe they're trying to damage control.

They're trying to contain this explosion by firing steve burns and his cfo lacking here's the true story here: this stock is not worth nine dollars. Dead stock is not worth eight dollars. It's not even worth seven dollars, not even six, not five, not four. No three, not two, not one, not zero, it's literally worth nothing.

In fact, if somebody pays me to take stock of this company, i won't take it. It's that bad too much liabilities. Here's the thing about this company - and it's really like groundhog day for me with nicola it's so similar a ceo, that's a complete hype, artist, promising that have correlation minus one to reality, based on nonsense, gogligue and now the company is basically trying to shake off the Ceo say: well, we have nothing to do with steve. I mean that was his own doing.

None of us had anything to do with this, keep paying us salaries very, very similar and steve. I assume walked away with quite a significant amount of money, um, which is kind of always par for the course much like trevor and nicola i mean you shouldn't, feel bad for any of them. Now. Here's the true story here, i'm about to show in the financials.

Why this company has literally zero percent of going anywhere if you hold any shares of this company? You need to see this because they're in way way deeper, that they want you to believe plus there's some more questions. You just fired the ceo and cfo. Why hasn't the company came out and said? Well, we up we're sorry, we should have had better mechanisms in place. We let our management basically do this horrible thing to all of you.

Investors we're gon na compensate you by doing xyz. We just got rid of them and we're gon na investigate internally to find out who knew about this and who else needs to be fired. Instead, they don't say jack, they fire them. They put out this notice and then the media has to tell me about this.

Without the company taking responsibility, that's a clear sign that the current interim management is just as bad as the previous one, but you don't need to trust your gut feeling about this. Let me show you the numbers, so check out this q2 quarterly report, because this is going to be epic. Let me show you something: this is phenomenal, so let's go straight to the numbers right now. The company is holding 587 million, 587 million in cash now they've already burned, through 350 million without doing jack.

Let me show you why i know they did jack look at their assets. The only assets they have is cash and the plant they bought for 154 million. That is it: where is the inventory if you're building a truck? Where is the inventory? Where is it can't find it no inventory? I mean, if you're, building a track you're expecting to have a little bit of an inventory to build these trucks, so it either. Is that they're so far behind the original schedule that this is literally a freaking startup without even any plans of mass production or it's all a lie? Both options? Don't look good for the company, but no inventory and assets that shows you how far along are they in the process, but wait there's more.

What the company has right now is just enough to sit on their ass, do nothing with their finger in their mouth and basically wait for the money to run out in one year. They can't do jack and it actually reminds me a lot about nicola. It's the same thing with nicolette: they have enough cash to get paid, but they don't have enough cash to actually get done as far as real ramp up, but wait, there's more and look at this. This shows you everything you need to know about how this company is bullshitting you for a long time.

Look at this. This is what they have: 326 000 of land, 6.2 million of buildings, 38 million and a half of machinery. 142, 000 of vehicles, their current vehicles. Vehicles of this company is 142 000..

That's a company that burned through 350 million dollars, i'm shocked at this, and i think it's inevitable that it's going to be a doj investigation and an sec investigation. This thing ain't over yet i think the sec and the doj are about to have a field day with this company, because this is even worse than nickel. Look at this. This paragraph should blow your mind, because this is game over even before they fired steve.

The company believes that its current level of cash and cash equivalents are not sufficient, not sufficient to fund commercial scale production of the launch of the vehicles. These conditions raised substantial doubt regarding our ability to continue as a going concern for a period of at least one year, so basically, as you just saw from the financials before even they said this thing, they have enough money to just sit on their ass for one Year, if they want to make any sort of progress with this vehicle, whatever it is, they need a lot more cash. I doubt it if anybody will give them a single door at this point, because steve burns made this company radioactive, much like trevor, did with nicola. It's unbelievable how similar they are both of them out eland, elon and then found themselves out of the company and basically left the in shambles.

Look at this note, 6 commitments and contingencies. They can't even afford the batteries that they're supposed to buy. They have agreement with lg for batteries, 16 million 140 million 273 million for the next three years. So basically they need to pay 400 million for the next three years.

Just for the inventory of the batteries, not even talking about the body the wheels nothing so they're. 587 million, which they have in the bank right now with them burning through 125 million per quarter, 400 million, is what they need to pay just for the batteries they need. This company is on the verge of bankruptcy. It's not even funny and by the way, as you can see right here, the company and steve burns are dealing with four class action lawsuits for what they've done.

This is just the beginning. The class action lawsuits is just the tip of the iceberg. The sec are about to get involved, the doj is about to get involved. This company is not going anywhere so, as you can see, from the financials, this company is finished, they're trying to damage control by firing steve and the cfo they're trying to make it look like it's a contained implosion, but this is just the beginning.

They're about to get ass shellacked by the sec, the doj, the class session lawsuits are coming, their liabilities are mounting, they don't have enough cash to even buy a popsicle nine dollars per share. No.