Lordstown Needs More Money, Halves Production of Endurance e-Truck 26 May 2021, 4:31 UTC ·
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On an investor call on Monday, May 24, Lordstown CEO Steve Burns said that this was a good news-bad news type of scenario, the NY Times reports. The bad news is, obviously, that the startup needs more money to make the 2,200-unit estimate by the end of the year. The good news is that, even if Lordstown fails to secure more funds, it will still bring the Endurance to market this September and, in the process, be the first company to mass-produce an electric pickup truck.
The initial goal was to deliver 2,200 Endurance trucks by the end of 2021, starting in September, with a long-term goal of upping production from one truck every six minutes to one truck every four minutes via automation. In the first quarter of 2021, Lordstown reports losses of $125 million, which, together with the lingering effects of the international health crisis and
THC-A Diamond Mine in Los Angeles County - Cannabis Global and Marijuana Company of America Fund Cannabis Extract Lab
ACCESSWIRE
25 May 2021, 23:31 GMT+10
LOS ANGELES, CA / ACCESSWIRE / May 25, 2021 / Cannabis Global, Inc. (OTC PINK:CBGL) and Marijuana Company of America (OTC PINK:MCOA) today announce the funding of a state-of-the-art cannabis extract laboratory in Lynwood, California. The two companies recently created a joint venture, MCOA Lynwood Services, Inc., which is majority-owned by Cannabis Global, Inc., which will oversee operations and marketing of cannabis products produced by the venture. One of our top priorities at the new laboratory is to produce a crystalline form of THC-A called Diamonds to be sold into the wholesale and retail markets and for use on our own branded products, commented Arman Tabatabaei, CEO of Cannabis Global. Production of cannabis Diamonds, which is often called Diamond Mining within the cannabis industry, is highly specialized requiri
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LOS ANGELES, CA / ACCESSWIRE / May 25, 2021 / Cannabis Global, Inc. (OTC PINK:CBGL) and Marijuana Company of America (OTC PINK:MCOA) today announce the funding of a state-of-the-art cannabis extract laboratory in Lynwood, California. The two companies recently created a joint venture, MCOA Lynwood Services, Inc., which is majority-owned by Cannabis Global, Inc., which will oversee operations and marketing of cannabis products produced by the venture. One of our top priorities at the new laboratory is to produce a crystalline form of THC-A called Diamonds to be sold into the wholesale and retail markets and for use on our own branded products, commented Arman Tabatabaei, CEO of Cannabis Global. Production of cannabis Diamonds, which is often called Diamond Mining within the cannabis industry, is highly specialized requiring not only specific licensing and permitting but also state-of-the-art extraction equipment and specialized scientific personnel. With our funding now sec