BAD NEWS

[Scooter584]

Sorry for the shitty post and delete it if it's in the wrong place....maybe I need throttle therapy!?

 

[OneLapper]

Sorry for the shitty post and delete it if it's in the wrong place....maybe I need throttle therapy!?

Beer normally cheers me up

 

[Philip]

Sorry for the shitty post and delete it if it's in the wrong place....maybe I need throttle therapy!?

Nobody has ever seen a dirt bike parked outside of a shrink's office!

 

[BenEXR]

Beer normally cheers me up

"Alcohol has never solved any problems for anyone . . . but then again, neither has milk."

 

[Redwolf]

From a chemistry perspective, technically alcohol is a solution...

 

[TCMB371]

Here in California, we prefer the earthy green variety.

 

[bluefxstc]

How about all of the above? Ride, drink, smoke or is it smoke, drink, ride? I don't know, I am so confused.


How did I get here? Where did I leave my bike? Help!!!

 

[revoltlution]

Feels like we've made it to the fourth stage of grief (depression}... Acceptance is fifth and final step.... But I'm not there yet!

 

[Redwolf]

I prefer to remain in a state of ignorance and bliss, ignore my problems until they go away, or become someone else's.

 

[Philip]

I prefer to remain in a state of ignorance and bliss, ignore my problems until they go away, or become someone else's.

You are sharing this approach with all the politicians who are running this country.

 

[revoltlution]

You are sharing this approach with all the politicians who are running this country.

I wish we could VOTE to have Alta remain in business

 

[Philip]

I wish we could VOTE to have Alta remain in business

Too cool to fail. Must bail out to prevent catastrophe. $1B would do.

 

[Altaracer929]

Good NEWS!!! Alta Motors has NOT filed for Bankruptcy! They do have legal situations that basically force a gag order on the company discussing operations at this time while they meditate a solution.

Hi all, sorry for the vague and ambiguous news. I know there are a million questions, and you all deserve answers. We should be able to share a little more next week, so please hang tight.

-Marc

Marc checked the alta owners forum last Friday. You know he is working hard on a solution as you read this.

• 
  Marc F • 21 days ago
  Michael, this is Marc Fenigstein, co-founder and former Chief Product Officer from Alta Motors. It would have been worthwhile to reach out to myself or other members of the Alta team in order to research this article, or even view any of the multiple videos from speaking events describing our overall market strategy. What you missed in failing to do so was the difference between market-entry strategy and a long-term market strategy. It is naive to assume that the Redshift was to be our first and last product and target market segment. We would not have been able to raise even the funds to execute this far if that were the case. Alta's business plan, technological foundation, and investment pitch has always targeted the full breadth of the $100B+ (and growing) light-duty vehicle space that spans from scooters to side-by-sides. We put our class-leading tech into a highly desirable and influential segment first, and that tactic was proving extremely successful, especially this year. Unfortunately, we found ourselves pinched between a rock and a hard place which I cannot describe in specifics at this time, but it left us with very limited options - we took the best of them. Sometimes, you can have the best tech, product, team, and business plan and can still be caught in unsolvable legal and financial positions. That is the real lesson here, and I hope to be able to discuss it more openly at some point in the future

http://disq.us/p/1wtg4kq
Financial reorganization investment funding all require much more time then the 30 days we are at now. Corporate Alta has closed but the Alta Board member team is still operating working through the fourth quarter acquiring funding or purchaser with very limited working staff. Alta Dealers are still selling Alta motorcycles, they have not given up on Alta. Only with no warranty or factory support waiting as we all are for more news. I believe Marc Fenigstein is as frustrated NOT to be able to talk to us as we are to hear.

 

[BenEXR]

Good NEWS!!! Alta Motors has NOT filed for Bankruptcy! They do have legal situations that basically force a gag order on the company discussing operations at this time while they meditate a solution.

Marc checked the alta owners forum last Friday. You know he is working hard on a solution as you read this.

• View attachment 1493
  Marc F • 21 days ago
  Michael, this is Marc Fenigstein, co-founder and former Chief Product Officer from Alta Motors. It would have been worthwhile to reach out to myself or other members of the Alta team in order to research this article, or even view any of the multiple videos from speaking events describing our overall market strategy. What you missed in failing to do so was the difference between market-entry strategy and a long-term market strategy. It is naive to assume that the Redshift was to be our first and last product and target market segment. We would not have been able to raise even the funds to execute this far if that were the case. Alta's business plan, technological foundation, and investment pitch has always targeted the full breadth of the $100B+ (and growing) light-duty vehicle space that spans from scooters to side-by-sides. We put our class-leading tech into a highly desirable and influential segment first, and that tactic was proving extremely successful, especially this year. Unfortunately, we found ourselves pinched between a rock and a hard place which I cannot describe in specifics at this time, but it left us with very limited options - we took the best of them. Sometimes, you can have the best tech, product, team, and business plan and can still be caught in unsolvable legal and financial positions. That is the real lesson here, and I hope to be able to discuss it more openly at some point in the future

http://disq.us/p/1wtg4kq
Financial reorganization investment funding all require much more time then the 30 days we are at now. Corporate Alta has closed but the Alta Board member team is still operating working through the fourth quarter acquiring funding or purchaser with very limited working staff. Alta Dealers are still selling Alta motorcycles, they have not given up on Alta. Only with no warranty or factory support waiting as we all are for more news. I believe Marc Fenigstein is as frustrated NOT to be able to talk to us as we are to hear.

Simple translation:


Sorry all.

I wish the article was never written or, if it had to be written, it would have been nice if you had reached out to us as we would not have responded to you either way so with that said;

We had plans. No, we had GREAT plans.

They fell through.

We wanted, sometime in the future, to make the very best E-Dual Sport with a 300 mile+ range, 60 HP 100 TQ and 200 lbs, never needs to be charged. We have dreams too, you know. I just refer to them as a " . . . long-term market-strategy"=same thing, right?

Everything can use a battery and an electric motor. There are $100 billion worth of products that can be converted. We teased our investors with this plan from day 1.

We ran out of money. With no money, there are " . . . very limited options . . . " The entire operation costs a crapload of money-see Elon Musk and Tesla, gosh bless his heart-he has a lot of it but we are NOT him. Have you ever seen our website and all the technology in it? Just the very few pictures we chose to include, see all those machines for production, tooling, testing, even before those machines got built?, it all cost a pretty penny, there are so many costs that one can't even begin to fathom in an endeavor like this. Don't even get me started on what the payroll was. Talent, costs money.

We are waiting for people with a lot of money to take the risk/gamble, again.

We just needed sales to be a LOT better in order to appease the current investors and attract future investors. Sales, while good, even " . . . extremely successful . . . " were just not what they needed to be despite the proof that the bikes are competitive against ICE machines. Unfortunately, wins(or even a podium finish)- on Sunday did not translate to sales on Monday.

The " . . . real lesson here . . . " is that you can have the best product in the world but if there are not enough people that buy it, there will be no profit and maybe never will be and one has no choice but to close. That, is truly, " . . . unsolvable."

At least we tried.

 

[Rix]

I wish we could VOTE to have Alta remain in business

MAGA, Make Alta Great Again!!!!! Quick, someone get a loan from Donald.

 

[Rix]

Simple translation:


Sorry all.

We had plans. No, we had GREAT plans.

They fell through.

We wanted, sometime in the future, to make the very best E-Dual Sport with a 300 mile+ range, 60 HP 100 TQ and 200 lbs, never needs to be charged. We have dreams too, you know.

Everything can use a battery and an electric motor. There are $100 billion worth of products that can be converted. We teased our investors with this plan from day 1.

We ran out of money. With no money, there are " . . . very limited options . . . " The entire operation costs a crapload of money-see Elon Musk and Tesla, gosh bless his heart-he has a lot of it but we are NOT him. Have you ever seen our website and all the technology in it? Just the very few pictures we chose to include, see all those machines for production, tooling, testing, even before those machines got built, it all cost a pretty penny, there are so many costs that one can't even begin to fathom in an endeavor like this. Don't even get started on what the payroll was.

We are waiting for people with a lot of money to take the risk/gamble, again.

We just needed sales to be a LOT better in order to appease the current investors and attract future investors. Sales, while good, even " . . . extremely successful . . . " were just not what they needed to be despite the proof that the bikes are competitive against ICE machines. Unfortunately, wins(or even a podium finish)- on Sunday did not translate to sales on Monday.

At least we tried.

I am sitting here on lunch, and while reading this, coffee came out of my nose. AWESOME laymen's terms translation!

 

[BenEXR]

I am sitting here on lunch, and while reading this, coffee came out of my nose. AWESOME laymen's terms translation!

Glad you could see the humor in the lawyer-approved reply the guy felt like he had to give instead of just simply telling like it is.

 

[privateer703]

I'm still pretty certain that Marc Fenigstein is more upset over this than we are. I'm still hopeful a buyout is in the works because that could take another month easily. If these guys weren't trying as hard as they can getting a buyer, bankruptcy would have already happened. Just my opinion.

 

[Johnny Depp]

Someone just posted at VitalMX that creditors had received letters giving instructions on how to file for their debts. Liquidation mentioned. Not a good sign, it has been almost a month since the shutdown and no progress revealed.

 

[snydes]

Bankruptcy would seem inevitable at this point, though that doesn’t necessarily mean the end either.