Phoenix Motor Inc.
0.8400+0.04 (+5%)
Oct 29, 4:00:00 PM EDT · OTC Markets OTCPK · PEVM · USD
Key Stats
Market Cap
41.40MP/E (TTM)
-Basic EPS (TTM)
-2.10Dividend Yield
0%Recent Filings
8-K
CFO Appointment at Phoenix Motor
Phoenix Motor Inc. appointed Tony Shen as Chief Financial Officer effective September 2, 2025, to leverage his 15+ years steering U.S.-listed firms through fundraising and global markets. Shen's track record includes leading acquisitions at HC Financial Group and boosting profitability at China BAK Battery. This hire bolsters financial strategy amid Nasdaq suspension. No compensation details disclosed.
8-K
Phoenix appoints experienced EV leader
Phoenix Motor Inc. appointed John Walsh as President on August 11, 2025, effective immediately, and as CEO of its U.S. subsidiary PhoenixEV, which focuses on American-built commercial electric vehicles. Walsh brings over 35 years of experience in transit and electric mobility, including leadership at EO Charging Americas and Proterra Inc., to drive fleet electrification efforts. This move bolsters the company's expertise amid its Nasdaq suspension and OTC trading.
10-Q
Q2 FY2025 results
Phoenix Motor's Q2 FY2025 revenue fell 77% y/y to $2.7M, driven by transit bus sales dropping to $1.5M from $10.6M amid cash shortages slowing production, while gross margin expanded to 33.4% from 15.2% on fewer but higher-priced units. Operating loss narrowed to $1.7M from $7.1M as SG&A expenses halved to $2.6M via headcount cuts, though net loss widened to $1.2M from $3.0M income due to $0.8M interest on defaulted debt. Cash dwindled to $0.1M after $5.0M operating outflow, offset by $5.8M from new convertible notes (now $3.4M current, defaulted at 19% rate post-Nasdaq suspension); free cash flow not disclosed in the 10-Q. Warranty reserves eased to $11.5M. Battery lease receivables sold to Zenobe in June 2025, retaining liabilities. Delisting to OTC Pink curbs liquidity.
8-K
CFO resigns; CEO assumes duties
Phoenix Motor Inc. accepted the resignation of CFO Michael Yung on August 2, 2025, for personal reasons, with no disagreements or ties to company operations or accounting. CEO Denton Peng steps in as interim principal financial and accounting officer while the board searches for a replacement. This leadership shift arrives amid Nasdaq suspension since April 15, 2025, now trading OTC Pink. Smooth handover expected.
8-K
Private placement raises $606K
Phoenix Motor Inc. closed a private placement on August 3, 2025, selling 2,020,000 shares of common stock at $0.30 each, plus warrants for another 2,020,000 shares at the same price, to one unaffiliated and three affiliated investors—including $480,000 from an entity controlled by CEO Xiaofeng Peng. The deal nets approximately $606,000 in gross proceeds for working capital and general corporate purposes, with warrants exercisable immediately for two years and adjustable for events like stock splits. Trading remains on the OTC Pink after Nasdaq suspension in April. Yet liquidity stays tight.
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