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A comment on Nikola admits prototype was rolling downhill in promotional video. Parent comment

Re:Nikola admits prototype was rolling downhill in promotion... by yholio on Monday September 14, 2020 @03:46PM (#24474282)
More specifically was slated to earn 700 million, if the Nikola ponzi had been able to slip under the radar and continue. I'm absolutely sure NKLA does not have 0.7 billion lying around in cash, those are new investment that they need to raise. Fake it till you make it, they say.

In the current situation, all investors will require substantial proof of working technology. No working tech, no new investment, the company will probably fold before paying back a cent to GM.

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Re:Nikola admits prototype was rolling downhill in promotion... by easde on Monday September 14, 2020 @03:59PM (#24474435)
As of their last earnings report Nikola had almost exactly $700M in cash / cash equivalents. Maybe GM just wants that :)
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Re:Nikola admits prototype was rolling downhill in promotion... by yholio on Monday September 14, 2020 @04:15PM (#24474607)
That's interesting. Without any product, what exactly are those sources of cash earnings?
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Re:Nikola admits prototype was rolling downhill in promotion... by toomuchtodo on Monday September 14, 2020 @04:45PM (#24474935)
Reverse merger with a SPAC investment vehicle. They're not earnings, they're investor funds.

https://www.businessinsider.com/spac-biggest-blank-check-dea...

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Re:Nikola admits prototype was rolling downhill in promotion... by nickik on Monday September 14, 2020 @05:07PM (#24475172)
They need that for the next 3 years where they will not make money.
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