Worksport Ltd 2021 Highlights
06 April 2022 - 11:30PM
Worksport Ltd.
(Nasdaq:
WKSP) (the “Company”) has filed its annual report with
Securities and Exchange Commission.
The entire report can be found on the Securities
and Exchange Commission edgar filing database.
The Company has approximately $36 million in
assets and $2.1 million in liabilities. The Company has
approximately $28 million in cash which is its strongest cash
position since its inception.
“We are in a position that we are comfortable
with. We have a great cash position and are poised to have a very
good year. During 2021 we focused our energy on building inventory
knowing that making the transition from manufacturing in China to
North America was going to cost us some production days. Overall,
we are in good position to revamp our manufacturing and sales
practices and made good strides in just that.” said Steven Rossi,
Chief Executive Officer of Worksport.
In 2021 the Company:
- Raised $16.1 million in an
underwritten public offering;
- Completed its Reg A offering for
proceeds of approximately $7 million;
- Completed its private offering for
proceeds of approximately $4 million;
- Uplisted to the Nasdaq Stock
Exchange;
- Appointed Bill Caragol and
Ambassador Ned. L Siegel to the Board of Directors;
- Established Audit, Compensation and
Corporate Governance Committees;
- Formed Terravis Energy, Inc. for
its alternative energy endeavors (operations commenced in
2022;
- Built pre-production prototype
Worksport SOLIS and COR;
- Created an Advisory Board;
About Worksport Ltd.Worksport
Ltd. (Nasdaq: WKSP), through its subsidiaries, designs, develops,
manufactures, and owns the IP on a variety of tonneau covers, solar
integrations, and NP (Non-Parasitic), Hydrogen-based true green
energy solutions for the sustainable, clean energy, and automotive
industries. Worksport Ltd. seeks to capitalize on the growing shift
of consumer mindsets towards clean energy integrations with its
proprietary solar solutions, mobile energy storage systems (ESS),
and NP (Non-Parasitic), Hydrogen-based technology. For more
information, please visit www.worksport.com,
www.investworksport.com and www.goterravis.com.
About Terravis Energy, Inc.
Terravis Energy, Inc. designs, develops, and
manufactures clean, green energy solutions that power lifestyle
markets, with each segment of the company feeding into the
derivation of the brand itself – Latin for “Earth” and “Force”. The
company foresees the future of the electric vehicle markets and
sustainable energy markets through multiple lenses. Its
Non-Parasitic Electric Vehicle (NPEVTM) fast charging platform
which combines ultra efficient hydrogen fuel cells with solar to
create completely carbon-free charge points that can re-energize
Battery Electric Vehicles. Its Terravis Nanogrid™ which is designed
to power houses and is modular where excess power can be directed
toward utilities such as crypto mining. Its Terravis Microgrid™
system, composed of a number of Terravis Nanogrid™ systems, can
power data centres and entire communities. Its Terravis Wall-e™
platform is a standalone power backup system for homes in cases of
power failures, as well as a “power guardian” that can be used in
conjunction with the Terravis Nanogrid™.
For more information, please visit www.terravisenergy.com.
Connect with
Worksport:
Please follow the company’s social media
accounts on Twitter, Facebook, Linkedin, and Instagram, as well as
sign up for the company’s newsletters at www.worksport.com,
www.terravisenergy.com or www.investworksport.com. Worksport Ltd.
strives to provide frequent updates of its operations to its
community of investors, clients, and customers to maintain the
highest level of visibility.
LinkedIn
Facebook
Twitter
Instagram
YouTube
For additional information, please
contact:Steven ObadiahBusiness
Development ManagerWorksport Ltd.T: 1-(888)
506-2013E: investors@worksport.comW:
www.investworksport.com
Forward-Looking Statements
The information contained herein may contain
"forward‐looking statements." Forward‐looking statements reflect
the current view about future events. When used in this press
release, the words "anticipate," "believe," "estimate," "expect,"
"future," "intend," "plan," or the negative of these terms and
similar expressions, as they relate to us or our management,
identify forward‐looking statements. Such statements include, but
are not limited to, statements contained in this press release
relating to the view of management of the Company concerning its
business strategy, an up listing to a national exchange, future
operating results and liquidity and capital resources outlook.
Forward‐looking statements are based on the Company's current
expectations and assumptions regarding its business, the economy
and other future conditions. Because forward-looking statements
relate to the future, they are subject to inherent uncertainties,
risks and changes in circumstances that are difficult to predict.
The Company's actual results may differ materially from those
contemplated by the forward‐looking statements. They are neither
statements of historical fact nor guarantees of assurance of future
performance. We caution you therefore against relying on any of
these forward‐looking statements. Factors or events that could
cause the Company's actual results to differ may emerge from time
to time, and it is not possible for the Company to predict all of
them. The Company cannot guarantee future results, levels of
activity, performance, or achievements. Except as required by
applicable law, including the securities laws of the United States,
the Company does not intend to update any of the forward‐looking
statements to conform these statements to actual results. No Stock
Exchange or Regulation Services Provider accepts responsibility for
the adequacy or accuracy of this release.
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