Forza X1, Inc. (NASDAQ:FRZA) Q4 2023 Earnings Call Transcript

Forza X1, Inc. (NASDAQ:FRZA) Q4 2023 Earnings Call Transcript March 26, 2024

Forza X1, Inc.  isn't one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).

Operator: Welcome to the Forza X1 Inc. Year-End 2023 Investor Call. As a reminder, this call is being recorded and all participants are in a listen-only mode. Your speaker for today's program is Joseph Visconti, Executive Chairman and Interim CEO of Forza X1, Inc. Before I turn the call over to Joseph, please remember that certain statements made during this investor call are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements on this call other than statements of historical facts, including statements regarding the company's future operations and financial position, business strategy and plans and objectives of management for future operations are forward-looking statements.

In some cases, forward-looking statements can be identified by terminologies such as believes, may, estimates, continue, anticipates, intends, should, plan, expects, predict, potential or the negative of these terms or other similar expressions. The company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs. These forward-looking statements are subject to a number of risks and uncertainties and assumptions described including those set forth in its filings with the Securities and Exchange Commission, which are available on the company’s Investor Relations website at ir.forzax1.com.

You should not rely upon forward-looking statements as prediction of future events. We cannot assure you that the events and circumstances reflected in the forward-looking statements will be achieved or occur. Finally, this conference call is being webcast. The webcast will be available at ir.forzax1.com for at least 90 days. Audiocast quality is subject to your equipment available bandwidth and Internet traffic. If you experience unsatisfactory audio quality, please use the telephone dial-in option. A question-and-answer session will follow the presentation. Please note that only those that have dialed in via telephone may ask a question. Those listening via webcast will be unable to submit questions and must call in instead. [Operator Instructions] I will now turn the call over to Joseph Visconti.

Joseph Visconti: Good morning, everybody. I want to welcome everyone to the call today. Thank you for taking the time out of your schedules. My name is Joseph Visconti. I'm the Executive Chairman and Interim CEO of Forza X1. Before I begin my presentation I want to speak on the recent news of the resignations of former CEO President Jim Leffew and our CFO, Carrie Gunnerson. Both of these resignations were untimely, but also unrelated. I understand the optics were not great. But for those of you that know me, you also know that I strongly believe and change brings opportunity. Jim Leffew and our team of Forza engineers were diligently to push our mission forward and I want to thank Jim for all of his efforts and we wish him the best of luck with his future endeavors.

Carrie Gunnerson has graciously agreed to stay on through the audit period and 10-K process to ensure a smooth transition for our finance team in the hiring and onboarding of a new CFO. Carrie and I have worked together for nearly three years in both Forza and Twin Vee. I want to thank her for her contribution throughout her tenure and I wish her well. As a CEO of a micro-cap public company launching a disruptive product in increasingly crowded marketplace, especially when economic headwinds or EV headwinds continue to be challenging, a change of leadership provides us with an opportunity to re-evaluate our strategies while we're experiencing these headwinds with a fresh perspective to capitalize on emerging opportunities with the goal of driving sustainable growth as we launch our products.

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