NEW YORK, Sept. 15, 2020 /PRNewswire/
-- Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the
"Company") is pleased to announce its Mobile Energy Global (MEG)
division's activity from the period starting July 1, 2020, and ending August 31, 2020.
MEG activities during the period of July
1, 2020 through August 31,
2020 were as follows:
Vehicle
Type
|
Units
Invoiced
(pending expected
delivery)
|
Units
Delivered
|
Heavy
Trucks
|
-
|
25
|
Taxis/Ride-Hailing
|
557
|
178
|
TOTAL
UNITS
|
557
|
203
|
"Units Delivered" refers to vehicles which have been delivered
to customers, and Ideanomics has obtained the delivery notes.
"Units Invoiced (pending expected delivery)" refers to customer
orders where sales invoices have been issued and units ordered are
still pending expected delivery. Delivery dates vary according to
the type of vehicle and manufacturer availability.
The US GAAP accounting treatment for the anticipated revenue
from the above orders will not be finalized until the order
transactions complete. Consequently, the revenue may be reported on
a Gross or Net basis and some portion may be deferred to future
accounting periods.
About Ideanomics
Ideanomics is a global company
that facilitates the adoption of commercial electric vehicles and
supports next-generation financial services and fintech products.
Our electric vehicle division, Mobile Energy Global (MEG) provides
group purchasing discounts on commercial electric vehicles, EV
batteries and electricity, as well as financing and charging
solutions; we refer to this business model as sales to financing to
charging (S2F2C). Ideanomics Capital provides fintech services that
include intelligent and innovative solutions powered by AI and
blockchain. Together, MEG and Ideanomics Capital provide our global
customers and partners with more efficient solutions for a greener
economy.
The company is headquartered in New
York, NY, with offices in Beijing, Guangzhou, and Qingdao, and operations in the U.S.,
China, Ukraine, and Malaysia.
Safe Harbor Statement
This press release contains
certain statements that may include "forward looking statements".
All statements other than statements of historical fact included
herein are "forward-looking statements." These forward-looking
statements are often identified by the use of forward-looking
terminology such as "believes," "expects" or similar expressions,
involve known and unknown risks and uncertainties, and include
statements regarding our intention to transition our business model
to become a next-generation financial technology company, our
business strategy and planned product offerings, our intention to
phase out our oil trading and consumer electronics businesses, and
potential future financial results. Although the Company believes
that the expectations reflected in such forward-looking statements
are reasonable, they do involve assumptions, risks and
uncertainties, and these expectations may prove to be incorrect.
You should not place undue reliance on these forward-looking
statements, which speak only as of the date of this press release.
The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of a
variety of risks and uncertainties, such as risks related to: our
ability to continue as a going concern; our ability to raise
additional financing to meet our business requirements; the
transformation of our business model; fluctuations in our operating
results; strain to our personnel management, financial systems and
other resources as we grow our business; our ability to attract and
retain key employees and senior management; competitive pressure;
our international operations; and other risks and uncertainties
disclosed under the sections entitled "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" in our most recent Form 10-K and Form 10-Q
filed with the Securities and Exchange Commission, and similar
disclosures in subsequent reports filed with the SEC, which are
available on the SEC website at www.sec.gov.. All forward-looking
statements attributable to the Company or persons acting on its
behalf are expressly qualified in their entirety by these risk
factors. Other than as required under the securities laws, the
Company does not assume a duty to update these
forward-looking statements.
Investor Relations and Media Contact
Tony Sklar, VP of Communications
55 Broadway, 19th Floor New York, New York 10006
Email: ir@ideanomics.com
Valerie Christopherson /
Lora Wilson
Global Results Communications (GRC)
+1 949 306 6476
valeriec@globalresultspr.com
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SOURCE Ideanomics