Lordstown Director Has No Idea If The Company Has Any Confirmed Orders

Of all the recent startups to claim that they are bringing the next great electric truck, Lordstown appears to be struggling the most. The company has been联邦调查局调查, then its race truck retired from competition just40 miles into a race. Things then got worse when it was revealed that the companyhasn't been paying taxes. Things surely couldn't get worse than that, but they did. Just last week, reports reached us that the company has filed a statement with the Securities and Exchange Commission saying that it "is unable to begin production and may cease to exist entirely."

Lordstown Motors has seen the proverbial cow dung hit the breeze-producing propeller, but on Wednesday,Reutersreported that there was hope when Lordstown Motors' president claimed to have firm and binding orders for the first two years of production. A day later, that claim seems to have been premature at the least.

It's been a rough week for the company after CEO Steve Burns added fuel to the fire that is the American automaker's affairsby resigning. The company's president, Rich Schmidt, seemed to be doing damage control on Wednesday with the claims of confirmed orders: "Currently, we have enough orders for production for '21 and '22", said Schmidt. "Those are firm orders we have for those two years. I don't know the exact facts of the legal aspect of that, but they are basically binding orders that are committed here in the last two weeks, reconfirmed orders. They're pretty solid, and I think that's on the light side or conservative side."

These comments saw the share price jump by 6.4 percent, but they seem to have been premature, as a new report from theDetroit Free Pressoutlines.