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Jia Yueting, the future founder of Faraday, posted a video on Weibo on Sept. 6: on Sept. 5, it received confirmation from Nasdaq that FFIE had regained listing compliance, the risk of delisting so far this year was finally eliminated, and the battle for defending the dream was finally over.

Jia Yueting revealed in the video that the risk of delisting makes it impossible for management to focus fully on business and operation. Now that we have regained listing compliance, we can move forward with all our strength. At the same time, Jia Yueting also pointed out that many misunderstood decisions have been made recently, and I have heard a lot of doubts and scolds about myself, thanks to my friends who have always supported Faraday's future, especially retail investors. In the next stage, we will officially start the war to realize the dream, and let the company return to the upward curve as soon as possible, so that we can have more time to build cars.

On April 30, Faraday announced that it had received a warning letter from the NASDAQ Stock Exchange to delist because Faraday's future shares closed at $0.10 or less for ten consecutive trading days. At that time, Faraday said in the future that he would request a hearing to appeal against the delisting ruling.

After nearly two months, on June 28, Faraday's future official document revealed that it had received a notice from NASDAQ on June 26 and received news that Faraday would continue to be listed on NASDAQ in the future. At the same time, it also said that two conditions will be met before it can be officially listed. These two conditions are that Faraday is required to submit regular financial statements by July 31, 2024, and that the closing price per share is not less than $1 by August 31 this year.

In order to continue to list on NASDAQ, Faraday Future announced on June 25th that the total number of issued and authorized common shares of the existing company would be reversed in proportion to a range of 1:2 to 1:40. The main purpose of this approach is to achieve a reverse split share price of at least $5 per share, meeting the Nasdaq closing price requirement of no less than $1 per share.

In fact, there have been several warnings of delisting since Faraday built cars in the future. It's not easy along the way. Faraday Future also received a letter of delisting notice from Nasdaq last year. In order to meet the compliance conditions, Faraday also increased the net worth of the stock through a "reverse split" at that time. In August 2023, Faraday Future announced a reverse equity split of the company's issued common shares, with a proportion between 1:2 and 1:90. " The way of "reverse split" seems to be the fastest way to meet the requirements, but it is worth mentioning that after the "reverse split" measure was carried out in the future of Faraday last year, it took nearly a month or so. Faraday's future share price has once again returned to the situation of less than 1 dollar.

Of course, Faraday's share price has been depressed in the future, which has something to do with the fact that the market is not optimistic about it. Fundamentally, the most important thing is the shortage of funds, so far only a mass production of the FF91 model. Unfortunately, due to the high pricing, and low brand awareness and other factors, sales are also very bleak, so far, only 13 have been delivered. Sales are not ideal, followed by an increase in losses and the tension of the capital chain. Data show that Faraday's future net losses from 2022 to 2023 are $602 million and $432 million, respectively. As of June 30 this year, the cash used for FF's operating activities was $29.1 million.

Despite increasing losses and insufficient cash for operating activities, Jia Yueting, the future founder of Faraday, did not give up. Earlier, Jia Yueting said that in order to save FF, he would start the commercialization of personal IP, make money to repay debts and subsidize Faraday to build cars in the future. It is true that Jia Yueting has been releasing videos and interacting with netizens over the past few months, but it is still difficult to save Faraday's future through the commercialization of personal IP.

To this end, Jia Yueting is also looking for other ways, and Faraday recently revealed that it will launch a second brand with prices covering the market of $20, 000 to $80, 000, helping to quickly enter the mass market. The introduction of cheap models will certainly help boost Faraday's future sales. However, financing is particularly important for Faraday's future. Yesterday, officials announced the good news that they had received $30 million in financing commitments from investors in the Middle East, the US and Asia. With this fund, it will also play a certain role in promoting the start of Faraday's second brand in the future. But it remains to be seen whether the authorities can use the money to get out of trouble.

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