Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Segmented information

v3.20.1
Segmented information
12 Months Ended
Dec. 31, 2019
Segmented information  
Segmented information

16.Segmented information

The Company operates in two reportable business segments in Canada.

The two reportable business segments offer different products, require different production processes, and are based on how the financial information is produced internally for the purposes of making operating decisions. The following summary describes the operations of each of the Company’s reportable business segments:

·

Electric Vehicles – development and manufacture of electric vehicles for mass markets, and

·

Custom build vehicles – development and manufacture of high-end custom-built vehicles.

Sales between segments are accounted for at prices that approximate fair value. No business segments have been aggregated to form the above reportable business segments.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended Dec 31, 2019

 

Year ended December 31, 2018

 

 

 

 

Custom Built 

 

 

 

Custom Built 

 

    

Electric Vehicles

    

Vehicles

    

Electric Vehicles

    

Vehicles

Revenue

 

$

 —

 

$

775,821

 

$

 —

 

$

777,302

Gross profit

 

 

 —

 

 

129,380

 

 

 —

 

 

202,130

Operating expenses

 

 

26,959,167

 

 

484,684

 

 

16,604,687

 

 

455,848

Other items

 

 

3,511,958

 

 

20,681

 

 

(6,841,211)

 

 

22,618

Income tax

 

 

2,140

 

 

(106,939)

 

 

 —

 

 

(1,667)

Net loss

 

 

30,473,265

 

 

269,046

 

 

9,763,476

 

 

274,669

 

 

 

 

 

 

 

 

 

 

 

 

 

Inventory

 

$

307,225

 

$

442,926

 

$

189,182

 

$

231,555

Plant and equipment

 

 

9,580,326

 

 

410,216

 

 

5,299,857

 

 

23,909