Fisker SEC Subpoena; New Chapter 11 Proposal; Ocean Owners Locked in

[@musk-eteer9898]

bad Karma is coming to Fisker.

[@Aslash304]

I see what you did here.

[@coleczipka997]

It has to get worse before it gets worse

[@Aslash304]

Bingo.

[@wardpaine8194]

Wow, it seems to never end

[@Aslash304]

Correct indeed

[@jjohur]

No wonder we need attorneys … these briefs use the worst English, grammar and sentence structures.

[@Aslash304]

Agree

[@markread2432]

I drove to the Fisker Center+ earlier today and discovered the lot empty in front of cars. I was hoping to find a Fisker or Magna employee that could schedule my recall work. Unfortunately, came up empty and cautiously drove back home. My car currently has 15k miles and is on OS 2.1.

[@Aslash304]

The FOA is working with Fisker to get the recall handled. Unfortunately, that’s the only progress right now

[@michaelguerrera1463]

As a fisker owner that financed through Chase Bank, it's a joke that there aren't any laws that protect consumers against new auto manufacturers when a bank enters a contract to finance that vehicle brand. Why isn't anyone asking about this? Why isn't there an attorney that takes this on? This is California for goodness sake. Any thoughts guys?

[@tuomasholo]

You can’t legislate against bad decisions. You have a depreciating asset that is worth less than the loan. It sucks but enjoy it in the best of health.

[@Aslash304]

My most recent video has the answer to your problem

[@colayco]

Protection against what? Stupidity?

[@Aslash304]

@@colaycothose that financed through Chase could likely win a buyback decision

[@Crypto_Circus]

People thinking this car and battery is valued at $20K have no clue how car market works. I won't be shocked it starts hitting $10K in 2025 after all the horror stories and people getting locked inside the car, and water pumps. I'm sure more issues will happen.

[@Aslash304]

Agree

[@BigMoney23223]

I used to evaluate cars for the big 3, I wrote literal books on issues for every car model. Issues like transmissions being stuck in gear that you couldn’t put in park, work vans accelerating wide open throttle when driving in the city. Thank god nobody was in front of me and I got the thing safely pulled over. It’s no coincidence the big 3 repeats the cycle of needing to “restructure” every 5-10 years. Nobody can build cars right, cause the geniuses who got their position by who they know cost cut every single thing to the point they spend 10-20x the cost in recalls to try and save money. And that money they think they are saving goes right into the pockets of their CEO’s for their performance. Then they pass the buck to us to give them more money so they can repeat the process. It’s almost as if they engineer their company to fail on purpose.

[@gilbertnau6002]

I like your RAV4 I hope it’s a v6. I have the same. It’s the most durable car I’ve ever had.

[@musk-eteer9898]

freedom of choice

[@Aslash304]

I have the 2.5. The V6 versions of that RAV 4 are awesome

[@cruzzer52]

Question: Would your Fisker be worth more if you stored it and then parted it out over the next few years? Just kidding…

[@Aslash304]

I would part it out literally right now. People need parts and there’s nothing. Also no precedent as to what constitutes “too much.” It’s like when people hoarded sanitizer during the pandemic, without the risk of criminal action.

[@krafter324]

Bitter Betty lol. Right there with ya

[@Aslash304]

We gotta stick together

[@krafter324]

@@Aslash304 I think I am more of a Pissy Paulette at this point lol.

[@Aslash304]

@@krafter324a much more contemporary pseudonym.

[@ericfan1223]

wait it gets worse?

[@Aslash304]

I mean, heights is proposing that some crumbs be had by others. So, not a worst case.

[@Motowndonna8]

Beautiful red rocket!

[@Aslash304]

Thanks! Connie loves it!

[@yarrik701]

When you talk about tracking in ICE vehicles, there's some cases that would require an asterisk there. For instance, I bought a truck not that long ago, but don't have an onboard cellular transmitter on it because I didn't want one of the upper trims with a touchscreen center console. Just a basic radio and all physical controls. Om current year models, yeah maybe not so much, but if you can find it, you can usually pull the SIM card or disconnect the telematics / telemetry module and still drive your car. Starting in 2026 with all the mandatory driver attentiveness, blood alcohol monitoring, and v2v communications and potentially remote kill switch technology, mandated by law, all vehicles will likely be equally bad on tracking, ev, ice, won't matter.

[@Aslash304]

Great feedback here. There are a few examples out there from recent years, but the tracking is coming for every car

[@mikeadams9302]

Just got my secind fisker recall notice today. It advises that if the service provider is unable ti assist to call the FISKER support number. Problem is there is no service provider hwre in the SE region and the Fisker Support number is no longer in service. Still waiting for the 2.1 OTA update.

[@Aslash304]

I will address this in an upcoming video. I am disappointed about the communication as well

[@yann0016]

Ngl for me the ocean would make a great car for me but I’m gonna wait and see the outcome of Fisker, if everything goes well I will get one if not another ev then.

[@Aslash304]

What would be a good outcome?

[@yann0016]

@@Aslash304 Restructure management, if they get funding then carefully plan costs and search permanent fixes for existing and future cars. I’m just going based on what i know since following you :)

[@Aslash304]

@@yann0016 unfortunately this is a chapter 11 liquidation. A restructuring would be if Fisker intended to continue to exist. They do not.

[@yann0016]

@@Aslash304 Do you think they could make a good comeback and survive?

[@Aslash304]

@@yann0016Unfortunately a liquidation is exactly the opposite of a comeback, it is a forfeit.

[@mikesamira4482]

Please do u know whether shareholders will be getting something per share?

[@Aslash304]

I can’t predict the future, but, shareholders are the last to get anything in bankruptcy.

[@shckltnebay]

Can you believe people thinking they can come out of BK by getting a loan?

[@Aslash304]

“Not a Great Plan.” -Tony Stark

[@richardwall7774]

I wonder if Heights wants to build the Pear? I’m still interested.

[@Aslash304]

If you miss a payment they take your house

[@richardwall7774]

@@Aslash304 maybe they sell the design to Ford, then I would buy it. I’m definitely sticking with big car manufacturers for the foreseeable future.

[@mschruntek]

Wonder if you can do a gofundme for your city to get a handful of strategically placed chargers.

[@Aslash304]

I would love to try this. I’ll look into it

[@effingsix3825]

Thanks for the video, Adam! Looks like the ball’s back in the court for Chap. 11. SEC involvement means ensuring that nobody’s actively trying to defraud.(stupid me - I thought this was the court’s job) Still missing a plan of arrangement, though the already extant escrow arrangement may be it. I had to look up who Heights Capital was again to remind myself. Tech Crunch has a good July 29 article. Whomever provides the necessary capital to start the company again basically owns the company. It’s a question of how ownership in the company changes hands from the shareholders to the new owners, or the new shareholders when the company emerges. This new wrinkle to me says: company no go ‘poof’. Things may go from old Fisker to Fisker 2.0

[@foxtrotwolf6081]

SEC investigates and gathers the evidence. If there is sufficient evidence for the finding of something, the DOJ prosecutor takes it to court.

[@effingsix3825]

@@foxtrotwolf6081 Yes, thanks. There would have to have been a complaint before the SEC resulting in a subpoena.

[@EM.1.]

I am not sure if there will be new owners or just a Stewarts set in place to do admin work of all existing cars. The owners of Karma should just add the Ocean, PEAR, Alaska minus the overpriced Ronin. I just give up and call it a day.

[@effingsix3825]

@@EM.1. I’m thinking somewhat the same, the restructuring will be done via brute force of law. Whomever makes a proposal or a stalking horse bid will have to come up with a hefty liquidity supply. The fact that there’s an escrow arrangement(as mentioned briefly in the submissions to the court) says there’s going to be a shotgun wedding to end the Mexican standoff.

[@EM.1.]

@@effingsix3825 -So you think a shotgun Wedding will bring back production? Otherwise, why would they spend millions-billions? What would be the incentive?

[@NavigatorBR]

My dad's '99 Jeep a small piece in transmission fail, it destroyed the transmission, he and a friend had to rebuild it. I am so upset about touch screen in cars, *hate them*, but that shit is in everyone now, that's not an electric car complaint.

[@shckltnebay]

So the screen is the reason the trans failed?

[@NavigatorBR]

@@shckltnebay ... No. They're separate things, note the space between them. I didn't want to leave 2 comments. Also it's a *1999* Jeep. That had an old school radio.

[@shckltnebay]

@@NavigatorBR Ok I know its a pia when those screens have issues

[@Aslash304]

Thanks a lot for this feedback. I hope all old jeeps survive as long as possible, as they are extremely cool.

[@NavigatorBR]

@@Aslash304 Lasted into at least 2020, when we sold it to someone in Michigan, hopefully she's still doing well up there.

[@tumentumengoosh5178]

Thank you very much for your thorough explanation, we love the car!

[@supertec2023]

😂😂😂😂😂 nope

[@Aslash304]

Absolutely fantastic constructive feedback

[@K9Trixx]

Adam what sthe end goal? We know parts and service are the challenge.But the focus on fear isnt accomplishing anything. Humans have faced challenges from the beginning of time. Problem solving and solution finding is far more productive. The fore fathers faced worse building cointry and fighting wars. The insistent fearmongering isnt solving anything. We know this is not and will no longer ever be a traditional vehicle ownership. We ARE aware. Solutions are needed. I still focus on moving foward.

[@Lightdog555]

Huh?

[@reviewaccount8377]

At what point did he inject fear? He has been honest and thorough about the reality of where we are today and just like everyone else, can only allege or assume the future. If reality is causing fear, that’s a different story. SHOW US ON THE DOLL WHERE ADAM is hurting anyone. SHOW US where ADAM has provided false information. SHOW US where Adam put fear on anyone.

[@foxtrotwolf6081]

From the beginning of time, humans had also worked together to communicate and share what worked and what didn't in order to better overcome challenges.

[@reviewaccount8377]

@@foxtrotwolf6081 and that is still happening without providing false hope which other groups are doing. Let’s make a list, let’s get you on the list, we have a list but really can’t do anything with the list.

[@Aslash304]

People (not necessarily owners) ask questions and I answer them. What is your end goal? Would you like me to stop trying to educate people? You’re allowed to focus on whatever you want. I can also focus on what I decide to focus on, which is currently: information that people are interested in obtaining. I sincerely apologize if the information that I’m providing based on credible sources from an educational capacity upsets you. 6 months ago people threatened my family because I mentioned the prospect of bankruptcy. Yet, here we are.