Regarding the rev shortfall, in their Q3 Report, it is cited that: "This agreement brought a new corporate sales team focused on large corporations, and management believes the sales cycle is relatively long for these customers. Continued disruptions to the supply chain caused by the COVID-19-pandemic, as well as component shortages, also impacted the company."

If they somehow resolve these issues in 2022, they think they would hit $27MM. It is also cited in their prospectus the rev ratio of direct sales to oem sales is 40/60. It looks like they have used the $15MM base rev for Raymond and $9MM rev for direct sales in forklift. That leaves $3MM estimate for E-bus to make up the $27MM projection.

From the propectus, it does look like that they count on a big sales of $9MM in early 2022 and I sure hope that they are right.

The question that I want to know is that "What exactly do they need the money for?". If they want to raise a large sum of capital, they would hope that the share price is much higher to minimize the impact of share dilution? What event would trigger an increase of the share price?