Last $0.0084 USD
Change Today -0.0001 / -1.18%
Volume 1.2M
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As of 5:20 PM 09/23/14 All times are local (Market data is delayed by at least 15 minutes).

green automotive co corp (GACR) Snapshot

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52 Week High
11/7/13 - $0.45
52 Week Low
09/16/14 - $0.0050
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green automotive co corp (GACR) Details

Green Automotive Company, together with its subsidiaries, focuses on the design, engineering, manufacture, and sale of niche vehicles using zero and low emission technologies in the United States. Its activities include vehicle technology development, engineering, and design with a focus on zero and low emission solutions; and manufacturing and customization of vehicles for niche markets. The company’s activities also comprise retail sale of a range of zero emission transport solutions, and after sales support programs for electric or low emission vehicles, such as parts, servicing, and repair. In addition, it sells new and used versions G-Wiz electric vehicles under the GoinGreen brand name. The company is headquartered in Riverside, California.

green automotive co corp (GACR) Top Compensated Officers

Chief Executive Officer, Interim Chief Financ...
Total Annual Compensation: $234.7K
Compensation as of Fiscal Year 2013.

green automotive co corp (GACR) Key Developments

Green Automotive Company Announces Financial Results for the Second Quarter Ended June 30, 2014

Green Automotive Company announced financial results for the second quarter ended June 30, 2014. The company posted strong quarterly revenue of $1,575,599 over three times higher than the comparable period 12 months ago ($429,392 for the three months ended June 30, 2013). The growth in the company's revenue was largely due to the sale of buses from Newport Coachworks facility in California, which grew from $223,514 during the three months ended June 30, 2013 to $1,090,571 for the three months ended June 30, 2014. The management believes operating loss (after removing non-cash derivative liabilities and interest expense) of $1,085,817 for the three months ended June 30, 2014, compared to operating loss of $512,530 for the three months ended June 30, 2013, is an accurate indicator of current results.

Green Automotive Company Announces Resignation of Nicholas Hewson as Director

On August 21, 2014 Nicholas Hewson resigned as a director of Green Automotive Company with his resignation effective that day. Mr. Hewson's resignation was not related to any disagreement with the company on any matter relating to the company's operations, policies and practices. Mr. Hewson, who resides in the United Kingdom and is retired, informed the board that the geographic separation caused by the company's decision to reorganize its business to focus on U.S. based domestic operations, made his ability to devote the time required to perform his oversight functions as a director more difficult. The company accepted Mr. Hewson's resignation and expressed appreciation for the services he performed as a director.

Green Automotive Company Restructures its Electric Vehicle Business

Green Automotive Company announced that it will transfer the majority of the knowledge in its electric vehicle technology centre, known as Liberty E-Tech, to a new facility to be opened in Riverside, California, where its main manufacturing business is located. As a consequence, the company will cease its electric vehicle retailing, engineering, development and support operations in the UK. The re-organization of the UK business will take place as a Creditors Voluntary Liquidation under the U.K.'s Insolvency Act of 1986, Section 98. As a result, all liabilities in the companies will be eliminated, including an outstanding tax payable of $622,697, outstanding trade payables of $689,481 and outstanding lease payments of $40,000.


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