v3.25.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2025
Mar. 31, 2024
Revenue from sale of vehicles $ 4,950,140 $ 33,335 $ 7,870,625 $ 33,335
Cost of revenues 6,996,936 13,440 13,585,869 13,440
Gross loss (2,046,796) 19,895 (5,715,244) 19,895
Operating expenses:        
General and administrative 41,372,436 47,903,692 77,856,845 91,137,744
Research and development 10,364,113 24,023,526 21,646,488 40,193,493
Impairment of intangible assets 12,006,452 73,447,067 12,006,452 73,447,067
Impairment of right-of -use assets 0 3,167,608 0 3,167,608
Impairment of goodwill 0 28,846,832 0 28,846,832
Loss from operations (65,789,797) (177,368,830) (117,225,029) (236,772,849)
Other income (expense):        
Other financing costs - initial recognition of warrants (21,105,570) 0 (37,184,192) 0
Derivative, Gain (Loss) on Derivative, Net 98,247,063 3,622,758 63,617,277 (3,106,223)
Loss on exchange of warrants (57,770,454) 0 (57,770,454) 0
Gain on extinguishment of debt 0 34,625 1,553,771 34,625
Loss on disposal of fixed assets 0 (449,855) 0 (373,865)
Interest expense (7,526,542) (259,700) (26,191,911) (517,723)
Other income, net 64,986 893,692 522,979 1,489,108
Total other income (expense) 11,909,483 3,841,520 (55,452,530) (2,474,078)
Net loss before income tax benefit (53,880,314) (173,527,310) (172,677,559) (239,246,927)
Income tax benefit/ (provision) (600) 2,165,062 (1,200) 3,891,300
Net loss (53,880,914) (171,362,248) (172,678,759) (235,355,627)
Changes due to net losses of the subsidiary (6,805,023) (38,930,288) (10,714,311) (41,528,769)
Net loss attributable to stockholders (47,075,891) (132,431,960) (161,964,448) (193,826,858)
Waived/(accrued) accumulated preferred dividends and other capital transactions with preferred stockholders (25,310) (22,043) (50,038) (43,346)
Net loss used in computing basic net loss per share of common stock $ (47,101,201) $ (132,454,003) $ (162,014,486) $ (193,870,204)
Net loss per share (in dollars per share) [1] $ (489.24) $ (12,041,273) $ (3,338.65) $ (21,493,371)
Weighted average shares outstanding, basic and diluted (in shares) [1] 96,275 11 48,527 9
[1] Adjusted retroactively for reverse stock splits, see Note 1 - Description of Business and Basis of Presentation