Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning.

Good morning. Today is Friday, March 1st, and I'm your host, Kim Khan filling in for Julie Morgan.

Fisker has doubts it can continue as a going concern.

The SEC says Lordstown Motors has been misleading investors

and President Biden says Chinese cars are a security threat.

Fisker expressed doubts that can continue as a going concern

after a difficult year exacerbated by high interest rates

and the inability to deliver the Ocean SUV as quickly as expected.

Following this announcement, shares went to do a nose dive during Thursdays after hours trading.

Unless the company can obtain additional equity or debt financing and successfully transition to its new dealer-partner

model, FISPR will be forced to decrease its planned level of investment in product development,

scale back operations, and reduce production of the Fisker Ocean, all of which have an adverse impact on

Fisker's business and financial prospects.

There is some hope that the company can pull itself out of the death spiral, as it is currently in negotiations with a large

automaker for a potential transaction which could include an investment in the company and or joint

development of one or more electric vehicle platforms. Fisker is also in discussions with an existing note holder about making an additional investment.

The company also intends to cut 15% of its workforce related to its pivot to its sales strategy to a dealer partner model.

For 2023, the California-based EV Maker reported a loss of 222 per share on

272.9 million in revenue.

This compares to a loss of $180 on $342 million in sales the prior year.

The Securities and Exchange Commission charged Lordstown Motors on Thursday with misleading investors about the sales

prospects of the company's flagship electric pickup truck. According to the SEC's

...