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

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v3.19.1
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12 Months Ended
Dec. 31, 2018
Segmented Information [Abstract]  
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17. 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, 2018     Year ended December 31, 2017  
    Electric Vehicles     Custom Built
Vehicles
    Electric Vehicles     Custom Built
Vehicles
 
Revenue   $ -     $ 777,302     $ -     $ 109,173  
Gross profit     -       202,130       -       45,223  
Operating expenses     16,604,687       455,848       9,473,794       60,585  
Other items     (6,841,211 )     22,618       536,414       1,340,802  
Income tax     -       (1,667 )     -       -  
Net and comprehensive loss     9,763,476       274,669       10,010,208       1,356,164  
                                 
Inventory   $ 189,182     $ 231,555       -     $ 232,903  
Plant and equipment     5,299,857       23,909     $ 1,370,350       23,333