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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): August 16, 2022

 

ARCIMOTO, INC.

(Exact name of registrant as specified in its charter)

 

Oregon

(State or other jurisdiction of incorporation)

 

001-38213   26-1449404
(Commission   (IRS Employer
File Number)   Identification No.)

 

2034 West 2nd Avenue, Eugene, OR 97402

(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code (541) 683-6293

 

 

(Former name or former address, if changed since last report.)

 

Securities registered pursuant to Section 12(b) of the Act:

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class   Trading Symbol(s)   Name of Each Exchange on Which Registered
Common stock, no par value   FUV   Nasdaq Capital Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  

 

 

 

 

 

 

Item 8.01 Other Events.

 

On August 15, 2022, Arcimoto, Inc. (the “Company”) distributed a slide presentation in connection with the second quarter earnings call. A copy of the presentation is attached and incorporated herein by reference.

  

Caution With Respect To Forward-looking Statements:

 

Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict and include, without limitation, our expectations as to product deliveries, the establishment of our service and delivery network and our expected rate of production. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors discussed from time to time in documents which we file with the SEC. In addition, such statements could be affected by risks and uncertainties related to, among other things: our ability to manage the distribution channels for our products, including our ability to successfully implement our rental strategy, direct to consumer distribution strategy and any additional distribution strategies we may deem appropriate; our ability to design, manufacture and market vehicle models within projected timeframes given that a vehicle consists of several thousand unique items and we can only go as fast as the slowest item; our inexperience to date in manufacturing vehicles at the high volumes that we anticipate; our ability to maintain quality control over our vehicles and avoid material vehicle recalls; the number of reservations and cancellations for our vehicles and our ability to deliver on those reservations; unforeseen or recurring operational problems at our facility, or a catastrophic loss of our manufacturing facility; our dependence on our suppliers; changes in consumer demand for, and acceptance of, our products: changes in the competitive environment, including adoption of technologies and products that compete with our products; the overall strength and stability of general economic conditions and of the automotive industry more specifically; changes in laws or regulations governing our business and operations; costs and risks associated with potential litigation; and other risks described from time to time in periodic and current reports that we file with the SEC. Any forward-looking statements speak only as of the date on which they are made, and except as may be required under applicable securities laws, we do not undertake any obligation to update any forward-looking statements.

 

Item 9.01. Exhibits.

 

Exhibit 99.1  Slides Dated August 15, 2022
Exhibit 104  Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  ARCIMOTO, INC.
     
Date: August 16, 2022 By: /s/ Jesse Fittipaldi
    Jesse Fittipaldi
    Interim Chief Executive Officer

 

 

 2

 

Exhibit 99.1

Customer Rental Funnel Rental Experience Conversion • Primary KPl's = Rental to order / preorder, and direct rental revenue • Driven by rental owned and partner operated businesses • Average time to order post drive 2 - 3 mths • 02 vs Q2 LY +209 % increase in rental volume • 02 vs 01 + 94 % increase in rental volume • 02 sales $53,818 vs Q2 LY at $16,618 +224 % YoY • Conversion average is 12 % through Q1 with recent rentals at 7 % • Targeting to increase volume and expand into new key markets • Added Temecula Wine Tours, GoCar San Diego After Dark, Sarasota and Susie's Mopeds • Press released the Hawaii Rental opening August 20th

 

 

Count of contacts Customer Rental Funnel Rental E x p e ri e n ce Conversion • Primary KPl's == R en t a l to order / preorder, and direct r ental revenue • Driven by rental owned and partner operated businesses • Average time to order post drive 2 - 3 mths • 02 vs 02 LY +209% increase in rental volume • 02 vs 01 + 9 4 % increase in rental volume 400 350 300 250 200 150 100 50 2021 - 04 - 01 2022 - 04 - 01

 

 

Customer Drive Funnel Demo Drives Conversion • Primary KPI = Drives to order / preorder conversion • Driven by rental and events/appointment demo drives • Average time to order post drive 4 - 5mths • 02 vs Q2 LY + 931 % increase in butts in seats • 02 vs 01 + 416 % increase in butts in seats • Conversion average is 8 % through 01 with recent drives at 4 % currently • Aiming to increase conversion through higher drive volume paired with increased frequency of engagement throughout the customer journey

 

 

Demo D r ive Conversion QoQ Count of contacts Distinct count (C l os e date) 1 . 6K 4 8 3K 1 . 2 K 36 0 - · (/) - r+ · : n ::J u .. ( . J ., ) . . c . . o , C: 0 r+ n 0 C: u 0 800 2 4 :::J r+ - () + - ' C: - 0 :::J 0 u (/) (l) 5 2 7 a. a, r+ (l) - 4 00 12 30 5 2 3 8 1 1 9 0 2021 - 0 4 - 01 202 1 - 07 - 0 1 202 1 - 1 0 - 0 1 2022 - 01 - 0 1 0 2022 - 04 - 01

 

 

Revenue for the three months ended June 30 1 , 600 , 000 1 , 400 , 000 1 , 200 , 000 1 , 000 , 000 800 , 000 600 , 000 400 , 000 200 , 000 0 Rental FUV TOTAL 202 1 30,678 16 , 618 670 . 083 717 , 379 2022 430,485 53 , 818 1,015,038 1 , 499 , 341 GROWT H 1,303 % Revenue for the six months ended June 30 224 ƒ 6 51 % 109 % T MW Rental FUV 2 , 500 , 000 2 , 000 , 000 1 , 500 , 000 1 , 000 , 000 - 500 , 000 - TOTAL 0 2021 1 22 , 78 4 23,868 1 ,96 4 ,703 2 , 111 , 355 2022 552 . 902 66 , 317 1,530,355 2 , 149 , 574 GROWTH 350 % 178 % - 22 % 2 0/ 10

 

 

Product Checkouts Total Checkouts Initi ated Ads Checkout 10000 5000 2500 0 02 2021 03 2021 04 2021 01 2022 02 2022

 

 

Production Deployment 150 120 90 60 30 0 03 2019 04 2019 01 2020 02 2020 03 2020 04 2020 01 2021 02 2021 03 2021 04 2021 01 2022 02 2022 Product io n 2 54 40 10 29 38 88 85 78 80 26 S a l es 2 - - 44 27 11 31 - - 28 - - 60 31 64 37 24 41 Deployed into fixed assets 0 2 1 7 0 11 7 4 15 28 0 4 Deployed into rental 0 0 0 - - 0 - - 0 0 7 12 15 25 19 20 Finished Good I nventory 0 8 20 - - 1 2 - - 10 9 23 61 -- - 45 35 - - 18 55 102